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112000000 5689000000 0 0 0 0 1191000000 1191000000 108000000 1299000000 0 0 0 0 36000000 36000000 0 36000000 0 0 0 0 14000000 14000000 19000000 33000000 0 0 0 0 529000000 529000000 0 529000000 0 0 0 0 9000000 9000000 0 9000000 -316000000 0 0 0 316000000 0 12000000 12000000 0 224000000 0 0 -1216000000 -992000000 -27000000 -1019000000 0 0 -2000000 0 2000000 0 0 0 0 0 0 0 -9000000 -9000000 0 -9000000 -316000000 224000000 -2000000 0 -2596000000 -2690000000 -142000000 -2832000000 2870000000 -1290000000 126000000 -79000000 55290000000 56917000000 1030000000 57947000000 <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 1.<span class="_ _5"/>1 <span class="_ _5e"> </span> <span class="_ _57"> </span>Gener<span class="_ _5"/>al accoun<span class="_ _5"/>ting policies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Basis of prepar<span class="_ _5"/>ation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts for<span class="_ _5"/> 2024 for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Moller<span class="_ _5"/> - Maersk (Maersk) have been pr<span class="_ _5"/>epared on a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">going concern basis and in accor<span class="_ _5"/>dance with IFRS <span class="_ _5"/>Account<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing Standards as adopt<span class="_ _5"/>ed by <span class="_ _5"/>the EU and additional Danish </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosure r<span class="_ _5"/>equirements for<span class="_ _5"/> listed c<span class="_ _5"/>ompanies. <span class="_ _5"/>The con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solidated financial statemen<span class="_ _5"/>ts of Maersk are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the consolidated financial statemen<span class="_ _5"/>ts of A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler Hold-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">ing A/S<span class="_ _5"/>.</span></span><span class="_ _5"/> <span><span style="display:inherit;clear:left;">The accounting policies ar<span class="_ _5"/>e consistent<span class="_ _5"/> with those </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">applied in the consolida<span class="_ _5"/>ted financial statements for<span class="_ _5"/> 2023<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">except<span class="_ _5"/> for<span class="_ _5"/> the changes <span class="_ _5"/>to accounting standards <span class="_ _5"/>that <span class="_ _5"/>were </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effective fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024 and wer<span class="_ _5"/>e endorsed by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EU.<span class="_ _5"/> The changes ha<span class="_ _5"/>ve not had a mat<span class="_ _5"/>erial impact on <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ESEF<span class="_ _5"/>/iXBRL reporting</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S is r<span class="_ _5"/>equired <span class="_ _5"/>to prepar<span class="_ _5"/>e and file </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the annual report<span class="_ _5"/> in the Eur<span class="_ _5"/>opean Single Electronic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Format (ESEF),<span class="_ _5"/> and the annual r<span class="_ _5"/>eport for<span class="_ _5"/> 202<span class="_ _5"/>4 is ther<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fore pr<span class="_ _5"/>epared in<span class="_ _5"/> the XHTML<span class="_ _5"/> format <span class="_ _5"/>that can be displa<span class="_ _5"/>yed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a standar<span class="_ _5"/>d browser<span class="_ _0"/>. The primary<span class="_ _5"/> statements and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">notes t<span class="_ _5"/>o the consolidated financial stat<span class="_ _5"/>ements are <span class="_ _5"/>tagged </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using inline eXtensible Business Reporting Language </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(iXBRL). <span class="_ _5"/>The iXBRL tags comply with the ESEF<span class="_ _5"/> taxonomy<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which is included in the ESEF<span class="_ _5"/> R<span class="_ _5"/>egulation and developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the IFRS <span class="_ _5"/>taxonomy published b<span class="_ _5"/>y the IFRS Foun-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dation.<span class="_ _5"/> Where a financial sta<span class="_ _5"/>tement line it<span class="_ _5"/>em or not<span class="_ _5"/>e is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">not defined in <span class="_ _5"/>the ESEF<span class="_ _5"/> taxonomy<span class="_ _0"/>, an extension <span class="_ _5"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">taxonomy<span class="_ _5"/> has been created.<span class="_ _5"/> Extensions ar<span class="_ _5"/>e anchored t<span class="_ _5"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">elements in the ESEF<span class="_ _5"/> <span class="_ _5"/>taxonomy<span class="_ _5"/>,<span class="_ _5"/> except<span class="_ _5"/> for<span class="_ _5"/> extensions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which are subt<span class="_ _5"/>otals. <span class="_ _5"/>The <span class="_ _5"/>Annual Report submitted <span class="_ _5"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Danish Financial Supervisory <span class="_ _5"/>Authority consists o<span class="_ _5"/>f the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">XHTML<span class="_ _5"/> document t<span class="_ _5"/>ogether<span class="_ _5"/> with certain <span class="_ _5"/>technical files,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">all included in a file named <span class="_ _5"/>APMM-2024-<span class="_ _5"/>12-31-en.zip<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Changes to r<span class="_ _5"/>eportable segments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As a resul<span class="_ _5"/>t of <span class="_ _5"/>the sale of Maersk Supply Service on 15 Ma<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 and the demer<span class="_ _5"/>ger<span class="_ _5"/> of Svitzer<span class="_ _5"/> on 26 <span class="_ _5"/>April 2024<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes t<span class="_ _5"/>o the segment<span class="_ _5"/> structure wer<span class="_ _5"/>e made.<span class="_ _5"/> Accor<span class="_ _5"/>dingly<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the T<span class="_ _0"/>owage &amp; Maritime Services se<span class="_ _5"/>gment is no longer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>tely r<span class="_ _5"/>eported.<span class="_ _5"/> The r<span class="_ _5"/>emaining businesses in T<span class="_ _0"/>owage </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Maritime Services and the contribution<span class="_ _5"/> from Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Supply Servic<span class="_ _5"/>e and Svitzer<span class="_ _5"/> until <span class="_ _5"/>their sale and demer<span class="_ _5"/>ger<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _5"/>y<span class="_ _5"/>, ar<span class="_ _5"/>e report<span class="_ _5"/>ed under Unal<span class="_ _5"/>located items with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024<span class="_ _5"/>. Comparison figur<span class="_ _5"/>es for<span class="_ _5"/> note </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2.<span class="_ _0"/>1 segment information ha<span class="_ _5"/>ve been restat<span class="_ _5"/>ed as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change had been implemented on<span class="_ _5"/> 1 January 2023<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _5"/>ts are as fol<span class="_ _5"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 13.5273px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 38.1992px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 53.1992px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 83.2148px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 98.2148px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.2285px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.2285px; top: 122.887px; width: 127.125px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consolidation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts comprise the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _5"/> company <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S,<span class="_ _5"/> its subsidiaries </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proportionat<span class="_ _5"/>e shares in joint<span class="_ _5"/> arrangemen<span class="_ _5"/>ts classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as joint oper<span class="_ _5"/>ations.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Subsidiaries ar<span class="_ _5"/>e entities control<span class="_ _5"/>led by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.<span class="_ _5"/> Control is based on <span class="_ _5"/>the power<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to direct<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> activities of an entity and <span class="_ _5"/>the ex-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">posure,<span class="_ _5"/> or<span class="_ _5"/> right, <span class="_ _5"/>to v<span class="_ _5"/>ariable returns arising fr<span class="_ _5"/>om it. In<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">connection, r<span class="_ _5"/>elevan<span class="_ _5"/>t activities are <span class="_ _5"/>those that<span class="_ _5"/> significantly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">affect <span class="_ _5"/>the investee’<span class="_ _5"/>s r<span class="_ _5"/>eturns. Con<span class="_ _5"/>trol is usuall<span class="_ _5"/>y achieved </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by dir<span class="_ _5"/>ectly or<span class="_ _5"/> indir<span class="_ _5"/>ectly o<span class="_ _5"/>wning or in other<span class="_ _5"/> w<span class="_ _5"/>ays controlling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _5"/>than 50% of the <span class="_ _5"/>voting rights or<span class="_ _5"/> by other<span class="_ _5"/> rights,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such as agreements on<span class="_ _5"/> management contr<span class="_ _5"/>ol.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Joint<span class="_ _5"/> arrangements ar<span class="_ _5"/>e entities in which<span class="_ _5"/> Maersk, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">according <span class="_ _5"/>to contr<span class="_ _5"/>actual agreements <span class="_ _5"/>with one or mor<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> parties, has join<span class="_ _5"/>t contr<span class="_ _5"/>ol. <span class="_ _5"/>The arrang<span class="_ _5"/>ements are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as joint <span class="_ _5"/>ventures<span class="_ _5"/>, if <span class="_ _5"/>the contracting parties’<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rights are limited <span class="_ _5"/>to net as<span class="_ _5"/>sets in the separ<span class="_ _5"/>ate legal en<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tities,<span class="_ _5"/> and as joint oper<span class="_ _5"/>ations,<span class="_ _5"/> if the parties have dir<span class="_ _5"/>ect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and unlimited rights t<span class="_ _5"/>o the assets and obligations f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the liabilities of the arr<span class="_ _5"/>angement.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Entities in which Maersk exercises a<span class="_ _5"/> significant but<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-control<span class="_ _5"/>ling influence are consider<span class="_ _5"/>ed associated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">companies.<span class="_ _5"/> A<span class="_ _5"/> significant influence is usual<span class="_ _5"/>ly achie<span class="_ _5"/>ved by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y or<span class="_ _5"/> indirectly<span class="_ _5"/> owning or<span class="_ _5"/> control<span class="_ _5"/>ling 20-50% of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">voting rights.<span class="_ _5"/> Agr<span class="_ _5"/>eements and other<span class="_ _5"/> circumstances ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered when<span class="_ _5"/> assessing the degr<span class="_ _5"/>ee of influence.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consolidation is performed by<span class="_ _5"/> summarising the financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">statements of <span class="_ _5"/>the parent<span class="_ _5"/> company and its subsidiaries in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accordance <span class="_ _5"/>with Maersk’s ac<span class="_ _5"/>counting policies.<span class="_ _5"/> Intra- <span class="_ _9"/>group </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income and expenses,<span class="_ _5"/> shareholdings<span class="_ _5"/>, dividends,<span class="_ _5"/> intr<span class="_ _5"/>a- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group balances and gains on<span class="_ _5"/> intra-gr<span class="_ _5"/>oup tr<span class="_ _5"/>ansactions are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eliminated.<span class="_ _5"/> Unrealised gains on <span class="_ _5"/>transactions <span class="_ _5"/>with asso-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ciated companies and joint<span class="_ _5"/> arrangemen<span class="_ _5"/>ts are eliminated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in proportion<span class="_ _5"/> to Maersk’<span class="_ _5"/>s ownership share<span class="_ _5"/>. Unr<span class="_ _5"/>ealised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses are eliminat<span class="_ _5"/>ed in the same w<span class="_ _5"/>ay unless <span class="_ _5"/>they indicat<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests’<span class="_ _5"/> shar<span class="_ _5"/>e of profit/loss for<span class="_ _5"/> <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">year<span class="_ _5"/> and of equity in subsidiaries ar<span class="_ _5"/>e included as part of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s profit and equity<span class="_ _0"/>, respectivel<span class="_ _5"/>y<span class="_ _5"/>, but<span class="_ _5"/> shown as <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">separa<span class="_ _5"/>te items.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Foreign currency<span class="_ _5"/> translation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts are presen<span class="_ _5"/>ted in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD,<span class="_ _5"/> the functional curr<span class="_ _5"/>ency of <span class="_ _5"/>the parent c<span class="_ _5"/>ompany<span class="_ _5"/>. In<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>tion to <span class="_ _5"/>the presentation curr<span class="_ _5"/>ency f<span class="_ _5"/>or subsidiaries<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">associates or<span class="_ _5"/> joint arr<span class="_ _5"/>angements <span class="_ _5"/>with functional curren-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cies other<span class="_ _5"/> than USD<span class="_ _5"/>, <span class="_ _5"/>the total compr<span class="_ _5"/>ehensive income is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>ted into USD at<span class="_ _5"/> aver<span class="_ _5"/>age exchange r<span class="_ _5"/>ates,<span class="_ _5"/> and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet is <span class="_ _5"/>translat<span class="_ _5"/>ed at <span class="_ _5"/>the exchange r<span class="_ _5"/>ates as at <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet dat<span class="_ _5"/>e. Ex<span class="_ _5"/>change rat<span class="_ _5"/>e differences arising fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such tr<span class="_ _5"/>anslations ar<span class="_ _5"/>e recognised dir<span class="_ _5"/>ectly in<span class="_ _5"/> other compr<span class="_ _5"/>e<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hensive income and in a separ<span class="_ _5"/>ate r<span class="_ _5"/>eserve of equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The functional curr<span class="_ _5"/>ency v<span class="_ _5"/>aries from business ar<span class="_ _5"/>ea to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business area.<span class="_ _5"/> For<span class="_ _5"/> Maersk’s principal shipping activities<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> is typicall<span class="_ _5"/>y USD.<span class="_ _5"/> <span class="_ _5"/>This means, among </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> things,<span class="_ _5"/> that<span class="_ _5"/> the carrying amounts of pr<span class="_ _5"/>operty<span class="_ _5"/>,<span class="_ _5"/> plant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equipment and intangible assets and,<span class="_ _5"/> hence,<span class="_ _5"/> depre<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ciation and amortisation,<span class="_ _5"/> are maintained in USD<span class="_ _5"/> from <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date of acquisition.<span class="_ _5"/> For<span class="_ _5"/> other activities<span class="_ _5"/>, including container<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal activities and land-based logistics activities,<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> is general<span class="_ _5"/>ly <span class="_ _5"/>the local currency<span class="_ _5"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">country in<span class="_ _5"/> which such activities are perf<span class="_ _5"/>ormed, unless cir<span class="_ _5"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumstances suggest a<span class="_ _5"/> different<span class="_ _5"/> currency<span class="_ _5"/> is appropriate<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>T<span class="_ _5"/>r<span class="_ _5"/>ansactions in curr<span class="_ _5"/>encies other <span class="_ _5"/>than the functional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/> are tr<span class="_ _5"/>anslated a<span class="_ _5"/>t the ex<span class="_ _5"/>change rat<span class="_ _5"/>e prev<span class="_ _5"/>ailing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the date of the <span class="_ _5"/>transaction.<span class="_ _5"/> Monetary it<span class="_ _5"/>ems in for<span class="_ _5"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies not<span class="_ _5"/> settled at <span class="_ _5"/>the balance sheet date ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>ted at <span class="_ _5"/>the exchange r<span class="_ _5"/>ate as at<span class="_ _5"/> the balance sheet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date.<span class="_ _5"/> Foreign<span class="_ _5"/> exchange gains and losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">the income statement<span class="_ _5"/> as financial income or<span class="_ _5"/> expenses.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _5"/> profit/loss in associat<span class="_ _5"/>ed companies and joint ven-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _5"/>gnised net of <span class="_ _5"/>tax and corrected f<span class="_ _5"/>or <span class="_ _5"/>the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _5"/>a-group g<span class="_ _5"/>ains and losses. <span class="_ _5"/>The item also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _5"/>t losses for<span class="_ _5"/> such inv<span class="_ _5"/>estments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">and their<span class="_ _5"/> reversal.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Statement<span class="_ _5"/> of comprehensive income</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> comprehensive income consists of g<span class="_ _5"/>ains and losses </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">not r<span class="_ _5"/>ecognised in the inc<span class="_ _5"/>ome statement,<span class="_ _5"/> including ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change r<span class="_ _5"/>ate adjustments arising from<span class="_ _5"/> the tr<span class="_ _5"/>anslation fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> to pr<span class="_ _5"/>esentation currency<span class="_ _0"/>, fair<span class="_ _5"/> v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjustments of other<span class="_ _5"/> equity investmen<span class="_ _5"/>ts (at FVOCI),<span class="_ _5"/> cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow hedges,<span class="_ _5"/> forwar<span class="_ _5"/>d points and currency<span class="_ _5"/> basis spread as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">well as actuarial gains/losses on de<span class="_ _5"/>fined benefit plans,<span class="_ _5"/> etc. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s share of other<span class="_ _5"/> comprehensive inc<span class="_ _5"/>ome in associ<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _5"/> ventur<span class="_ _5"/>es is also included. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>On disposal or<span class="_ _5"/> discontinuation of an<span class="_ _5"/> entity<span class="_ _5"/>, Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _5"/>the accumulated exchange r<span class="_ _5"/>ate adjustmen<span class="_ _5"/>ts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relating <span class="_ _5"/>to the r<span class="_ _5"/>elevant<span class="_ _5"/> entity <span class="_ _5"/>with a functional currency<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> than USD<span class="_ _5"/>, is r<span class="_ _5"/>eclassified to <span class="_ _5"/>the income statement.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Accumulated <span class="_ _5"/>value adjustments of equity instrumen<span class="_ _5"/>ts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as equity instruments at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue thr<span class="_ _5"/>ough other </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprehensive inc<span class="_ _5"/>ome will remain<span class="_ _5"/> in equity upon disposal.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Other<span class="_ _5"/> comprehensiv<span class="_ _5"/>e income includes current<span class="_ _5"/> and de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferred income tax to the extent<span class="_ _5"/> that the items recognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in other<span class="_ _5"/> comprehensive income ar<span class="_ _5"/>e taxable or<span class="_ _5"/> deductible.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Balance sheet</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised as Maersk’<span class="_ _5"/>s share of <span class="_ _5"/>the equity v<span class="_ _5"/>alue in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">clusive of goodwill less an<span class="_ _5"/>y impairment<span class="_ _5"/> losses. Goodwil<span class="_ _5"/>l is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an inte<span class="_ _5"/>gral part<span class="_ _5"/> of the v<span class="_ _5"/>alue of associated companies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">joint <span class="_ _5"/>ventures and is <span class="_ _5"/>theref<span class="_ _5"/>ore subject <span class="_ _5"/>to an impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test <span class="_ _5"/>together<span class="_ _5"/> with<span class="_ _5"/> the investment.<span class="_ _5"/> Impairment<span class="_ _5"/> losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>ersed to the extent the original value is considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">recov<span class="_ _5"/>erable.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span><span style="display:inherit;clear:left;">Equity<span class="_ _5"/> instruments,<span class="_ _5"/> etc., including shar<span class="_ _5"/>es,<span class="_ _5"/> bonds and </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">similar<span class="_ _5"/> securities, ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised on the <span class="_ _5"/>trading date a<span class="_ _5"/>t fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> and subsequently<span class="_ _5"/> measured at<span class="_ _5"/> the quoted mark<span class="_ _5"/>et </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">price for<span class="_ _5"/> listed securities and at<span class="_ _5"/> estimated fair<span class="_ _5"/> v<span class="_ _5"/>alue for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-listed securities.<span class="_ _5"/> Fair<span class="_ _5"/> <span class="_ _5"/>value adjustments fr<span class="_ _5"/>om equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue through other<span class="_ _5"/> compr<span class="_ _5"/>ehensive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income (FVOCI) r<span class="_ _5"/>emain in equity upon disposal.<span class="_ _5"/> Dividends </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Inventories mainl<span class="_ _5"/>y consist<span class="_ _5"/> of bunker<span class="_ _0"/>, spare parts not<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> property<span class="_ _5"/>,<span class="_ _5"/> plant<span class="_ _5"/> and equipment and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consumables.<span class="_ _5"/> Inventories ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost and net<span class="_ _5"/> realisable v<span class="_ _5"/>alue,<span class="_ _5"/> primarily accor<span class="_ _5"/>ding to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FIFO method.<span class="_ _5"/> The cost<span class="_ _5"/> of finished goods and work in pr<span class="_ _5"/>o-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gress includes dir<span class="_ _5"/>ect and indir<span class="_ _5"/>ect production<span class="_ _5"/> costs.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span><span style="display:inherit;clear:left;">Loans and r<span class="_ _5"/>eceivables are initial<span class="_ _5"/>ly r<span class="_ _5"/>ecognised at<span class="_ _5"/> fair<span class="_ _5"/> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> plus any<span class="_ _5"/> direct <span class="_ _5"/>transaction<span class="_ _5"/> costs, and subsequen<span class="_ _5"/>tly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _5"/> loans and other<span class="_ _5"/> rec<span class="_ _5"/>eivables,<span class="_ _5"/> write-downs ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _5"/> expected losses based on specific individual or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _5"/>. For<span class="_ _5"/> <span class="_ _5"/>trade r<span class="_ _5"/>eceivables,<span class="_ _5"/> the loss allo<span class="_ _5"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _5"/> the simplified appr<span class="_ _5"/>oach according </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _5"/>, applying a<span class="_ _5"/> provision matrix <span class="_ _5"/>to calculate <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _5"/>. <span class="_ _5"/>The provision<span class="_ _5"/> matrix includes an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">impairment f<span class="_ _5"/>or non-due r<span class="_ _5"/>eceivables.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Climate-relat<span class="_ _5"/>ed risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When preparing <span class="_ _5"/>the consolidated financial statemen<span class="_ _5"/>ts, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management c<span class="_ _5"/>onsiders climate-relat<span class="_ _5"/>ed risks, <span class="_ _5"/>where </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these could potentiall<span class="_ _5"/>y impact<span class="_ _5"/> reported amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">materiall<span class="_ _5"/>y<span class="_ _5"/>. <span class="_ _5"/>The areas in<span class="_ _5"/> which Maersk has assessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _5"/>elated risks at <span class="_ _5"/>the end of 2024 ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual notes including note 2.2 – oper<span class="_ _5"/>ating cos<span class="_ _5"/>ts,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">note 3<span class="_ _5"/>.<span class="_ _5"/>1 intangible assets and not<span class="_ _5"/>e 3.2 – pr<span class="_ _5"/>operty<span class="_ _5"/>, plant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equipment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">New financial reporting requir<span class="_ _5"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk has adopted the amendmen<span class="_ _5"/>ts to IAS 1: Classifica-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion of liabilities as curren<span class="_ _5"/>t or<span class="_ _5"/> non-current<span class="_ _5"/> and non-cur-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rent<span class="_ _5"/> liabilities with covenan<span class="_ _5"/>ts for<span class="_ _5"/> the first <span class="_ _5"/>time in the<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _5"/> year<span class="_ _0"/>. <span class="_ _5"/>The amendments did not hav<span class="_ _5"/>e any material </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact on <span class="_ _5"/>the amounts reco<span class="_ _5"/>gnised in prior<span class="_ _5"/> periods and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> expected t<span class="_ _5"/>o significantly aff<span class="_ _5"/>ect the curr<span class="_ _5"/>ent or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future periods.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Maersk has not <span class="_ _5"/>yet adopt<span class="_ _5"/>ed the fol<span class="_ _5"/>lowing new or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amended accounting standards and r<span class="_ _5"/>equirements <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have not<span class="_ _5"/> yet bec<span class="_ _5"/>ome effective.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Amendments <span class="_ _5"/>to IAS 21 Lack of Exchangeability</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>IFRS 18 Pr<span class="_ _5"/>esentation and Disclosur<span class="_ _5"/>es in Financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Statements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>IFRS 19 Subsidiaries <span class="_ _5"/>without Public <span class="_ _5"/>Accountability: </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Disclosures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Amendments t<span class="_ _5"/>o IAS 21 are effective fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2025 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are endorsed by<span class="_ _5"/> the EU<span class="_ _5"/>. IFRS 19 is effectiv<span class="_ _5"/>e from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 January<span class="_ _5"/> 2027<span class="_ _0"/>, but <span class="_ _5"/>there is some uncertainty<span class="_ _5"/> as to its EU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">endorsement dat<span class="_ _5"/>e. Chang<span class="_ _5"/>es from IAS 21 and IFRS 19 ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">not expect<span class="_ _5"/>ed to have an<span class="_ _5"/>y significant<span class="_ _5"/> impact on r<span class="_ _5"/>ecogni-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and measurement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>IFRS 18 is also effective from 1 <span class="_ _5"/>January 2027<span class="_ _5"/> and is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected <span class="_ _5"/>to be endorsed by <span class="_ _5"/>the EU.<span class="_ _5"/> IFRS 18 replaces IAS 1 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and introduces ne<span class="_ _5"/>w requiremen<span class="_ _5"/>ts for<span class="_ _5"/> presentation <span class="_ _5"/>within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement,<span class="_ _5"/> including specified totals and sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">totals.<span class="_ _5"/> Furthermore<span class="_ _5"/>, classification<span class="_ _5"/> of all income and ex-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">penses within <span class="_ _5"/>the income statement in<span class="_ _5"/>to one of five cat<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">egories: oper<span class="_ _5"/>ating,<span class="_ _5"/> investing, financing,<span class="_ _5"/> income <span class="_ _5"/>taxes and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discontinued oper<span class="_ _5"/>ations,<span class="_ _5"/> whereof <span class="_ _5"/>the first thr<span class="_ _5"/>ee are new<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also requir<span class="_ _5"/>ed. Maersk is curr<span class="_ _5"/>ently<span class="_ _5"/> working to iden<span class="_ _5"/>tify all </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impacts the amendments <span class="_ _5"/>will have on <span class="_ _5"/>the primary finan-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial statements and notes <span class="_ _5"/>to the financial sta<span class="_ _5"/>tements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restatement<span class="_ _5"/> to 2023 balance sheet<span class="_ _5"/> figures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _5"/>, <span class="_ _5"/>the 2023 contract<span class="_ _5"/> liabilities previousl<span class="_ _5"/>y offset<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">against <span class="_ _5"/>trade r<span class="_ _5"/>eceivables w<span class="_ _5"/>ere resta<span class="_ _5"/>ted and presented<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>tely as liabilities<span class="_ _5"/>. <span class="_ _5"/>Accordingl<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>T<span class="_ _5"/>r<span class="_ _5"/>ade receiv<span class="_ _5"/>ables and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferr<span class="_ _5"/>ed income have been gr<span class="_ _5"/>ossed up. Not<span class="_ _5"/>es impacted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">include note 2.<span class="_ _0"/>1 (contract as<span class="_ _5"/>sets and contract<span class="_ _5"/> liabilities), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">note 4.5 (r<span class="_ _5"/>eceivables not<span class="_ _5"/> due), note 4<span class="_ _5"/>.6 (trade r<span class="_ _5"/>eceivables) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and note 5<span class="_ _5"/>.5 (other <span class="_ _5"/>working capital movements).<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact on the balance sheet<span class="_ _5"/> is as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:226.03125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 193.094px; top: 0.0136718px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.938px; top: 21.7012px; width: 59.8535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Published in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 209.906px; top: 21.7012px; width: 56.0508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Restated in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 173.312px; top: 33.7012px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 237.781px; top: 33.7012px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 55.4043px; width: 27.9961px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 70.2949px; width: 263.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,881 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.1855px; width: 265.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Receivables, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.3966px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20,873 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21,351 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.061px; width: 266.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,022 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.2734px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,500 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.951px; width: 265.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 106.406px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,100 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,578 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 141.951px; width: 91.3125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity and liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 156.842px; width: 265.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">568 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 171.732px; width: 266.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> current liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,296 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,774 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 186.623px; width: 265.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.3029px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,391 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,869 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 200.654px; width: 265.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,010 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,488 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 215.545px; width: 263.314px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal equity</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,100 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,578</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Segment<span class="_ _5"/> information</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The allocation of business activities in<span class="_ _5"/>to segments r<span class="_ _5"/>eflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s character<span class="_ _5"/> as an int<span class="_ _5"/>egra<span class="_ _5"/>ted container<span class="_ _5"/> logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business and is in line with <span class="_ _5"/>the internal management<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reporting.<span class="_ _5"/> The r<span class="_ _5"/>eportable segments ar<span class="_ _5"/>e as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 13.5117px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.6074px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 38.1836px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.6074px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 53.1836px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 83.1992px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 98.1992px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.371px; width: 199.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Opera<span class="_ _5"/>ting segments have not<span class="_ _5"/> been aggreg<span class="_ _5"/>ated.<span class="_ _5"/> The r<span class="_ _5"/>eport<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able segments comprise:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _5"/> Maersk Line and Aliança and <span class="_ _5"/>the retir<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brands Hambur<span class="_ _5"/>g Süd and Sealand – A<span class="_ _5"/> Maersk company<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with ocean container<span class="_ _5"/> fr<span class="_ _5"/>eight being the main<span class="_ _5"/> revenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stream.<span class="_ _5"/> Ocean container<span class="_ _5"/> freight<span class="_ _5"/> is defined as the cost<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">per-<span class="_ _5"/>weight measur<span class="_ _5"/>e of tr<span class="_ _5"/>ansporting goods on board a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessel acr<span class="_ _5"/>oss the ocean,<span class="_ _5"/> including demurr<span class="_ _5"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and detention,<span class="_ _5"/> terminal handling,<span class="_ _5"/> documentation ser<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vices,<span class="_ _5"/> container<span class="_ _5"/> services as well as container<span class="_ _5"/> stor<span class="_ _5"/>age.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hub activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under the APM T<span class="_ _0"/>erminals <span class="_ _8"/>brand-gener<span class="_ _5"/>ating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>enue by pr<span class="_ _5"/>oviding port services only<span class="_ _5"/> in major<span class="_ _5"/> tr<span class="_ _5"/>an-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shipment ports such as Maas<span class="_ _5"/>vlakte-II,<span class="_ _5"/> Al<span class="_ _5"/>geciras,<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>angier<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>ang<span class="_ _8"/>ier-Med II,<span class="_ _5"/> Port<span class="_ _5"/> Said, and joint<span class="_ _5"/> ventur<span class="_ _5"/>es in Salalah </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and T<span class="_ _0"/>anjung Pelepas.<span class="_ _5"/> The r<span class="_ _5"/>espective terminals ar<span class="_ _5"/>e in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluded under<span class="_ _5"/> the Ocean segmen<span class="_ _5"/>t, as <span class="_ _5"/>the primary purpose </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of those ports <span class="_ _8"/>is to provide tr<span class="_ _5"/>anshipment services to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s Ocean <span class="_ _8"/>business,<span class="_ _5"/> whereas third-party<span class="_ _5"/> volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sold in those locations ar<span class="_ _5"/>e considered secondary<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Energy Markets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sourcing marine fuels for<span class="_ _5"/> Maersk’<span class="_ _5"/>s fleet and <span class="_ _5"/>third-party<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">customers,<span class="_ _5"/> in addition t<span class="_ _5"/>o operating a<span class="_ _5"/> fuel infrastructur<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in ke<span class="_ _5"/>y bunk<span class="_ _5"/>er ports<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics &amp; Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Managed by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Incl<span class="_ _8"/>udes<span class="_ _8"/> Lead<span class="_ _8"/> Logi<span class="_ _8"/>stic<span class="_ _8"/>s, Pr<span class="_ _5"/>oject Logistics,<span class="_ _5"/> Cold Chain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics and Custom Services<span class="_ _5"/>, enabling customers <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">control or<span class="_ _5"/> outsour<span class="_ _5"/>ce part or<span class="_ _5"/> all of <span class="_ _5"/>their suppl<span class="_ _5"/>y chain.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fulfilled by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities such as W<span class="_ _5"/>ar<span class="_ _5"/>ehousing (consolidated,<span class="_ _5"/> deconsoli<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dation and fulfilment),<span class="_ _5"/> Cold Stor<span class="_ _5"/>age,<span class="_ _5"/> Ground Fr<span class="_ _5"/>eight, De<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pot oper<span class="_ _5"/>ations and e-commerce supporting in<span class="_ _5"/>tegr<span class="_ _5"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fulfilment solutions<span class="_ _5"/>, <span class="_ _5"/>to improv<span class="_ _5"/>e customer<span class="_ _5"/> consolidation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>ransported by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Integr<span class="_ _5"/>ated <span class="_ _5"/>transportation<span class="_ _5"/> solutions supported by<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Landside T<span class="_ _0"/>ransportation,<span class="_ _5"/> Cargo Risk Managemen<span class="_ _5"/>t <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">products,<span class="_ _5"/> <span class="_ _5"/>Air<span class="_ _5"/>,<span class="_ _5"/> Less than Con<span class="_ _5"/>tainer Load (L<span class="_ _5"/>CL) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Full Container<span class="_ _5"/> Load (FCL),<span class="_ _5"/> to f<span class="_ _5"/>acilitate supply<span class="_ _5"/> chain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">control acr<span class="_ _5"/>oss Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>erminals</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>erminals activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities in ports fully<span class="_ _5"/> or<span class="_ _5"/> partially<span class="_ _5"/> control<span class="_ _5"/>led by the<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">APM T<span class="_ _0"/>erminals brand,<span class="_ _5"/> with <span class="_ _5"/>the main rev<span class="_ _5"/>enue stream </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">being port activities not<span class="_ _5"/> considered a hub activity<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">described above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Unallocated it<span class="_ _5"/>ems and inter-segment<span class="_ _5"/> rev<span class="_ _5"/>enue</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>owage activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _5"/> the Svitz<span class="_ _5"/>er br<span class="_ _5"/>and,<span class="_ _5"/> a provider<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">offshore <span class="_ _5"/>towage and marine services<span class="_ _5"/>. <span class="_ _5"/>The company<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was demerg<span class="_ _5"/>ed in April 202<span class="_ _5"/>4.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _5"/> Industry</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Manufactur<span class="_ _5"/>er <span class="_ _5"/>that pr<span class="_ _5"/>oduces reefer<span class="_ _5"/> containers<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provides marine services and in<span class="_ _5"/>tegr<span class="_ _5"/>ated solutions t<span class="_ _5"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the energy sect<span class="_ _5"/>or <span class="_ _5"/>worldwide with a lar<span class="_ _5"/>ge fleet of anchor<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handling tug supply<span class="_ _5"/> vessels and subsea<span class="_ _5"/> support v<span class="_ _5"/>essels. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The company <span class="_ _5"/>was divested in Ma<span class="_ _5"/>y 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’s corporate functions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of group-r<span class="_ _5"/>elated costs in Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> businesses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of Maersk Growth,<span class="_ _5"/> Maersk <span class="_ _5"/>T<span class="_ _5"/>raining and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services to the maritime industry.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue between se<span class="_ _5"/>gments is limited,<span class="_ _5"/> except f<span class="_ _5"/>or <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals segment, wher<span class="_ _5"/>e a large part<span class="_ _5"/> of the services </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is delivered <span class="_ _5"/>to the Ocean<span class="_ _5"/> segment as <span class="_ _5"/>well as the sale of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">containers from<span class="_ _5"/> Maersk Container Industry<span class="_ _5"/> to <span class="_ _5"/>the Ocean </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _5"/>or al<span class="_ _5"/>l businesses is recognised <span class="_ _5"/>when the perfor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _5"/>tisfied, which happens upon<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the customer<span class="_ _5"/> at<span class="_ _5"/> an amount <span class="_ _5"/>that r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _5"/>o which the <span class="_ _8"/>Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _5"/>or<span class="_ _5"/> the goods and services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from shipping activities is r<span class="_ _5"/>ecognised over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _5"/>e obligation is satisfied,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _5"/>evenue fr<span class="_ _5"/>om incomplete v<span class="_ _5"/>oyages at<span class="_ _5"/> the bal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _5"/>e. In<span class="_ _5"/>voiced rev<span class="_ _5"/>enue related <span class="_ _5"/>to an estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _5"/>emaining vo<span class="_ _5"/>yage time and activities a<span class="_ _5"/>t the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _5"/>erred.<span class="_ _5"/> Percen<span class="_ _5"/>tage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _5"/>the number of da<span class="_ _5"/>ys of a vo<span class="_ _5"/>yage as a per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _5"/>the total number<span class="_ _5"/> of days a <span class="_ _5"/>voyag<span class="_ _5"/>e is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _5"/> Detention and demurr<span class="_ _5"/>age fees ar<span class="_ _5"/>e recognised ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _5"/>time of the customer’<span class="_ _5"/>s late r<span class="_ _5"/>eturn or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _5"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>terminal operations and <span class="_ _5"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _5"/>gnised upon completion of the service<span class="_ _5"/>. In con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _5"/> terminals oper<span class="_ _5"/>ated under<span class="_ _5"/> certain r<span class="_ _5"/>estrictive terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _5"/> etc., <span class="_ _5"/>the v<span class="_ _5"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _5"/>the concession gr<span class="_ _5"/>antor<span class="_ _5"/> is reco<span class="_ _5"/>g-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _5"/>enue during the construction.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _5"/>om most fr<span class="_ _5"/>eight forw<span class="_ _5"/>arding activities is r<span class="_ _5"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised over<span class="_ _5"/> time. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>the sale of goods is recognised upon<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the buyer<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No significant element<span class="_ _5"/> of financing is deemed present<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sales are made with<span class="_ _5"/> a credit<span class="_ _5"/> term of 20-45 da<span class="_ _5"/>ys, <span class="_ _5"/>which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _5"/> with market<span class="_ _5"/> practic<span class="_ _5"/>e. Re<span class="_ _5"/>venue from sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on the price specified in <span class="_ _5"/>the contract,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _5"/>the estimated v<span class="_ _5"/>olume discounts.<span class="_ _5"/> Accumulated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _5"/>o estimate and pro<span class="_ _5"/>vide for<span class="_ _5"/> the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _5"/> using the expect<span class="_ _5"/>ed value method,<span class="_ _5"/> and rev<span class="_ _5"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _5"/>ecognised <span class="_ _5"/>to the ext<span class="_ _5"/>ent <span class="_ _5"/>that it is highl<span class="_ _5"/>y probable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _5"/>t re<span class="_ _5"/>versal will not<span class="_ _5"/> occur<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Right-of<span class="_ _5"/>-use assets<span class="ff3"> are mainl<span class="_ _5"/>y leased v<span class="_ _5"/>essels, con<span class="_ _5"/>tainers, </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession arr<span class="_ _5"/>angements and real esta<span class="_ _5"/>te.<span class="_ _5"/> Lease contracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> vessels and c<span class="_ _5"/>ontainers are typical<span class="_ _5"/>ly made f<span class="_ _5"/>or fix<span class="_ _5"/>ed pe-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riods of about five <span class="_ _5"/>years but ma<span class="_ _5"/>y have ext<span class="_ _5"/>ension options </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as described to<span class="_ _5"/>gether<span class="_ _5"/> with lease liabilities.<span class="_ _5"/> Concession </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arrang<span class="_ _5"/>ements and real estate con<span class="_ _5"/>tracts ar<span class="_ _5"/>e negotiated on<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an individual basis and contain a <span class="_ _5"/>wide range of <span class="_ _5"/>terms and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Leases are r<span class="_ _5"/>ecognised as a right<span class="_ _5"/>-of-use asset <span class="_ _5"/>with a <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding lease liability<span class="_ _5"/> at <span class="_ _5"/>the date on which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased asset is av<span class="_ _5"/>ailable for<span class="_ _5"/> use.<span class="_ _5"/> The right<span class="_ _5"/>-of-use asset </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is depreciat<span class="_ _5"/>ed over<span class="_ _5"/> the shorter<span class="_ _5"/> of <span class="_ _5"/>the asset’s useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the lease <span class="_ _5"/>term on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Payments associated with short<span class="_ _5"/>-<span class="_ _5"/>term leases and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leases of low-<span class="_ _5"/>value assets ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised on a straight<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">line basis as an expense in <span class="_ _5"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _5"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _5"/>, <span class="_ _5"/>the acquired assets,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _5"/> liabilities are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _5"/> the date <span class="_ _5"/>when control <span class="_ _5"/>was achieved using <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _5"/> Identifiable intangible assets are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised if they<span class="_ _5"/> arise from a contr<span class="_ _5"/>actual right or<span class="_ _5"/> can<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">otherwise be separa<span class="_ _5"/>tely iden<span class="_ _5"/>tified. <span class="_ _5"/>The differenc<span class="_ _5"/>e be<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the f<span class="_ _5"/>air<span class="_ _5"/> value of <span class="_ _5"/>the acquisition cost and <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of acquir<span class="_ _5"/>ed identifiable net assets is r<span class="_ _5"/>ecognised as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill.<span class="_ _5"/> Contingent<span class="_ _5"/> consideration<span class="_ _5"/> is measured at f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value and any<span class="_ _5"/> subsequent changes <span class="_ _5"/>to contingent<span class="_ _5"/> consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion are r<span class="_ _5"/>ecognised as financial income or<span class="_ _5"/> financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expense in the inc<span class="_ _5"/>ome statement.<span class="_ _5"/> If contingent consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion is settled by issuing a pr<span class="_ _5"/>edetermined number<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of shares,<span class="_ _5"/> the c<span class="_ _5"/>ontingent consider<span class="_ _5"/>ation is classified as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and is subsequentl<span class="_ _5"/>y not r<span class="_ _5"/>emeasured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansaction costs are r<span class="_ _5"/>ecognised as oper<span class="_ _5"/>ating costs as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ar<span class="_ _5"/>e incurred.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When Maersk ceases t<span class="_ _5"/>o have contr<span class="_ _5"/>ol of a subsidiary<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue of any r<span class="_ _5"/>etained investment is r<span class="_ _5"/>emeasured at<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue, and <span class="_ _5"/>the v<span class="_ _5"/>alue adjustment is r<span class="_ _5"/>ecognised in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _5"/> as a gain/loss on <span class="_ _5"/>the sale of non- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _5"/> assets.<span class="_ _5"/> The differ<span class="_ _5"/>ence between sales pr<span class="_ _5"/>oceeds </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the carrying amount<span class="_ _5"/> of the subsidiary<span class="_ _5"/> is recognised<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement including f<span class="_ _5"/>air <span class="_ _5"/>value of con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tingent c<span class="_ _5"/>onsideration a<span class="_ _5"/>t the <span class="_ _5"/>time of sale.<span class="_ _5"/> Contingent<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _5"/>tion is remeasur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value with changes<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t. <span class="_ _5"/>The effect o<span class="_ _5"/>f the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests without<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _5"/>ol is included directly<span class="_ _5"/> in equity<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _5"/> sale<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _5"/>ent asset,<span class="_ _5"/> or<span class="_ _5"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _5"/>, is r<span class="_ _5"/>ecovered principal<span class="_ _5"/>ly <span class="_ _5"/>through a sales<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> rather<span class="_ _5"/> than<span class="_ _5"/> through<span class="_ _5"/> continued use.<span class="_ _5"/> Assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _5"/>or sale <span class="_ _5"/>when activities to carry<span class="_ _5"/> out </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _5"/>ted, <span class="_ _5"/>when the activities ar<span class="_ _5"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _5"/> immediate sale in <span class="_ _5"/>their<span class="_ _5"/> present c<span class="_ _5"/>ondition, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _5"/>e expected <span class="_ _5"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _5"/> Liabilities directly<span class="_ _5"/> associated with<span class="_ _5"/> assets held </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> sale are pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> from other<span class="_ _5"/> liabilities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Assets held for sale ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount immediat<span class="_ _5"/>ely bef<span class="_ _5"/>ore classification as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale and fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. Impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tests are perf<span class="_ _5"/>ormed immediately<span class="_ _5"/> before classifica<span class="_ _5"/>tion as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale.<span class="_ _5"/> Non-current<span class="_ _5"/> assets are not depr<span class="_ _5"/>eciated or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised while classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> Measurement<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of deferr<span class="_ _5"/>ed tax and financial assets and liabilities is un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changed.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset<span class="_ _5"/> or a disposal gr<span class="_ _5"/>oup has been classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale or<span class="_ _5"/> distribution, but<span class="_ _5"/> the requir<span class="_ _5"/>ements are no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">longer<span class="_ _5"/> met, <span class="_ _5"/>the assets and relat<span class="_ _5"/>ed liabilities ceases to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The cessa<span class="_ _5"/>tion of the classifi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cation as held for<span class="_ _5"/> sale wil<span class="_ _5"/>l be reflected in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _5"/>f circumstances has occurr<span class="_ _5"/>ed. Com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _5"/>tive figures ar<span class="_ _5"/>e not resta<span class="_ _5"/>ted, and an<span class="_ _5"/>y adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _5"/>value of assets and liabilities pr<span class="_ _5"/>eviously<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _5"/>cumstances have changed.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when Maersk has a present<span class="_ _5"/> legal </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> constructive obligation fr<span class="_ _5"/>om past ev<span class="_ _5"/>ents. <span class="_ _5"/>The item<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes,<span class="_ _5"/> among other <span class="_ _5"/>things,<span class="_ _5"/> legal disputes and pr<span class="_ _5"/>ovi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sions for<span class="_ _5"/> onerous contr<span class="_ _5"/>acts and unfa<span class="_ _5"/>vourable con<span class="_ _5"/>tracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired as part<span class="_ _5"/> of a business combination.<span class="_ _5"/> Provisions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on best estimates and ar<span class="_ _5"/>e discounted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where the time element is significant and where the time </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of settlement is r<span class="_ _5"/>easonably det<span class="_ _5"/>erminable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Earnings per<span class="_ _5"/> share<span class="ff3"> is calculated as <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S’<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _5"/>the profit<span class="_ _5"/> for<span class="_ _5"/> the y<span class="_ _5"/>ear divided b<span class="_ _5"/>y the a<span class="_ _5"/>verage<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _5"/> of shares outstanding (of DKK 1,000 each),<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">excluding Maersk’<span class="_ _5"/>s holding of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es. Dilut<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">earnings per<span class="_ _5"/> share ar<span class="_ _5"/>e adjusted for<span class="_ _5"/> the dilutive eff<span class="_ _5"/>ect of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the aver<span class="_ _5"/>age number<span class="_ _5"/> of restricted shar<span class="_ _5"/>es,<span class="_ _5"/> performance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and shar<span class="_ _5"/>e options outstanding as issued by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">parent<span class="_ _5"/> company<span class="_ _5"/>.</span></span><span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3"> includes total compr<span class="_ _5"/>ehensive income for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _5"/>ofit for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> and other<span class="_ _5"/> comprehen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _5"/> Proceeds on <span class="_ _5"/>the purchase and sale of <span class="_ _5"/>treas-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ury shar<span class="_ _5"/>es and dividend from such shar<span class="_ _5"/>es are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _5"/>.<span class="_ _5"/> The <span class="_ _5"/>translation<span class="_ _5"/> reserve is comprised of Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _5"/>ed exchange r<span class="_ _5"/>ate differ<span class="_ _5"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _5"/>anslation fr<span class="_ _5"/>om functional currency<span class="_ _5"/> into presen<span class="_ _5"/>tation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The reserve for<span class="_ _5"/> other<span class="_ _5"/> equity in<span class="_ _5"/>vestments is com<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _5"/> FVOCI),<span class="_ _5"/> net of <span class="_ _5"/>tax. Reserves f<span class="_ _5"/>or hedg<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the accumulat<span class="_ _5"/>ed fair<span class="_ _5"/> value chang<span class="_ _5"/>e of derivatives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> cash flow hedge accounting,<span class="_ _5"/> less amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _5"/> reclassified <span class="_ _5"/>to the income statemen<span class="_ _5"/>t or<span class="_ _5"/> tr<span class="_ _5"/>ans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferred as basis adjustmen<span class="_ _5"/>ts, net<span class="_ _5"/> of tax,<span class="_ _5"/> as well as f<span class="_ _5"/>orward </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _5"/> basis spread.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _5"/> reco<span class="_ _5"/>gnised at fair<span class="_ _5"/> <span class="_ _5"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> costs. Subsequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the financial liabilities are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method, <span class="_ _5"/>whereby<span class="_ _5"/> tr<span class="_ _5"/>ansaction costs and any pr<span class="_ _5"/>emium <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> discount ar<span class="_ _5"/>e recognised as financial e<span class="_ _5"/>xpenses over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the term<span class="_ _5"/> of the liabilities.<span class="_ _5"/> Fixed inter<span class="_ _5"/>est loans subject <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge accounting are measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost with<span class="_ _5"/> an adjustment f<span class="_ _5"/>or <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of the hedged </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _5"/>est component.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _5"/>e measured at <span class="_ _5"/>the present<span class="_ _5"/> v<span class="_ _5"/>alue of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _5"/> <span class="_ _5"/>the lease term,<span class="_ _5"/> at <span class="_ _5"/>the interest<span class="_ _5"/> r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _5"/>the lease,<span class="_ _5"/> or at<span class="_ _5"/> Maersk’<span class="_ _5"/>s incremental borr<span class="_ _5"/>owing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te (IBR). Maersk’<span class="_ _5"/>s IBR re<span class="_ _5"/>flects the Group’<span class="_ _5"/>s cr<span class="_ _5"/>edit risk,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased amount,<span class="_ _5"/> and contract<span class="_ _5"/> duration,<span class="_ _5"/> as wel<span class="_ _5"/>l as the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nature and quality<span class="_ _5"/> of the asset’<span class="_ _5"/>s security and economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">environmen<span class="_ _5"/>t in which <span class="_ _5"/>the leased assets opera<span class="_ _5"/>te.<span class="_ _5"/> T<span class="_ _0"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determine the IBR,<span class="_ _5"/> wher<span class="_ _5"/>e possible, Maersk uses r<span class="_ _5"/>ecent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _5"/> financing received by<span class="_ _5"/> the individual lessee as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a starting point,<span class="_ _5"/> with adjustments <span class="_ _5"/>to reflect<span class="_ _5"/> changes in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financing conditions since that<span class="_ _5"/> financing was r<span class="_ _5"/>eceived.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Where such financing is not<span class="_ _5"/> available,<span class="_ _5"/> Maersk uses a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">build-up approach <span class="_ _5"/>that starts with<span class="_ _5"/> a risk<span class="_ _5"/>- free inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te adjusted by cr<span class="_ _5"/>edit risk and specific risks f<span class="_ _5"/>aced by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _8"/>lessee such as asset <span class="_ _5"/>type,<span class="_ _5"/> geogr<span class="_ _5"/>aphical risks,<span class="_ _5"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Subsequentl<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>the lease liability is measured a<span class="_ _5"/>t amor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _5"/> each lease payment al<span class="_ _5"/>located between <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _5"/>t of the liability<span class="_ _5"/> and financing cost. <span class="_ _5"/>The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _5"/>ged to <span class="_ _5"/>the income statement<span class="_ _5"/> over<span class="_ _5"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _5"/>the IBR that<span class="_ _5"/> was used <span class="_ _5"/>to discount <span class="_ _5"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _5"/>yments are included in <span class="_ _5"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _5"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>fixed pa<span class="_ _5"/>yments (including in-substance fixed pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments),<span class="_ _5"/> less any lease incentives r<span class="_ _5"/>eceivable</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>v<span class="_ _5"/>ariable lease payments that<span class="_ _5"/> are based on an<span class="_ _5"/> index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _8"/>r a r<span class="_ _8"/>at<span class="_ _8"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>amounts e<span class="_ _5"/>xpected to be pa<span class="_ _5"/>yable by <span class="_ _5"/>the lessee under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _5"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>the ex<span class="_ _5"/>ercise price of a pur<span class="_ _5"/>chase option if the lessee is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>to exercise <span class="_ _5"/>that option,<span class="_ _5"/> and pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _5"/>or <span class="_ _5"/>terminating the lease<span class="_ _5"/>, if <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _5"/> reflects the lessee e<span class="_ _5"/>xercising <span class="_ _5"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _5"/>termination options in lease contr<span class="_ _5"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _5"/>acts where it<span class="_ _5"/> is reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk will ex<span class="_ _5"/>ercise the options<span class="_ _5"/>. <span class="_ _5"/>These terms ar<span class="_ _5"/>e used </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to maximise oper<span class="_ _5"/>ational flexibility in <span class="_ _5"/>terms of managing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _5"/>acts. In<span class="_ _5"/> determining the lease <span class="_ _5"/>term, Managemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers all facts and cir<span class="_ _5"/>cumstances that<span class="_ _5"/> creat<span class="_ _5"/>e an eco<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic incentive <span class="_ _5"/>to exercise an<span class="_ _5"/> extension option or<span class="_ _5"/> t<span class="_ _5"/>o not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exer<span class="_ _5"/>cise a termination<span class="_ _5"/> option. Most<span class="_ _5"/> of the extension and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination options held ar<span class="_ _5"/>e exercisable onl<span class="_ _5"/>y by<span class="_ _5"/> Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and not by<span class="_ _5"/> the r<span class="_ _5"/>espective lessor<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>This assessment is r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">view<span class="_ _5"/>ed if a<span class="_ _5"/> significant event<span class="_ _5"/> or<span class="_ _5"/> a significant change in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circum<span class="_ _8"/>stances occurs which aff<span class="_ _5"/>ects this assessment,<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which is within <span class="_ _5"/>the control of <span class="_ _5"/>the lessee.<span class="_ _5"/> Where Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will probabl<span class="_ _5"/>y exer<span class="_ _5"/>cise specific purchase options<span class="_ _5"/>, <span class="_ _5"/>those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options are included in <span class="_ _5"/>the measurement<span class="_ _5"/> of the lease li-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability with<span class="_ _5"/> corresponding right<span class="_ _5"/>-of-use asset depr<span class="_ _5"/>eciated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/> the asset’<span class="_ _5"/>s useful life r<span class="_ _5"/>ather<span class="_ _5"/> than lease <span class="_ _5"/>term.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension obligations<span class="ff3"> are <span class="_ _5"/>the net liabilities of defined bene-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fit obligations and <span class="_ _5"/>the dedicated assets adjusted f<span class="_ _5"/>or <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect o<span class="_ _5"/>f minimum funding and asset ceiling r<span class="_ _5"/>equire<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _5"/> Plans with a funding surplus ar<span class="_ _5"/>e presented as net<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets on the balance sheet.<span class="_ _5"/> <span class="_ _5"/>The defined benefit obliga-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions are measur<span class="_ _5"/>ed at <span class="_ _5"/>the present<span class="_ _5"/> value of expect<span class="_ _5"/>ed fu-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ture paymen<span class="_ _5"/>ts to be made in r<span class="_ _5"/>espect of services pr<span class="_ _5"/>o <span class="_ _9"/>vided </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by emplo<span class="_ _5"/>yees up to <span class="_ _5"/>the balance sheet date<span class="_ _5"/>. Plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value.<span class="_ _5"/> The pension<span class="_ _5"/> cost charg<span class="_ _5"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> consists of calculated amounts for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vested benefits and int<span class="_ _5"/>erest in addition<span class="_ _5"/> to settlement<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gains or<span class="_ _5"/> losses,<span class="_ _5"/> etc. In<span class="_ _5"/>terest<span class="_ _5"/> on plan assets is calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the same rat<span class="_ _5"/>es as used for<span class="_ _5"/> discounting the obliga<span class="_ _5"/> <span class="_ _9"/>tions. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Actuarial gains/losses are r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hensive income.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension plans wher<span class="_ _5"/>e Maersk, as part<span class="_ _5"/> of collective <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bargaining agr<span class="_ _5"/>eements,<span class="_ _5"/> participates t<span class="_ _5"/>ogether<span class="_ _5"/> with <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> enterprises – so called multi-emplo<span class="_ _5"/>yer<span class="_ _5"/> plans <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">– are <span class="_ _5"/>treated as other<span class="_ _5"/> pension plans in <span class="_ _5"/>the financial <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">statements.<span class="_ _5"/> Defined benefit<span class="_ _5"/> multi-employer<span class="_ _5"/> plans,<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where sufficient<span class="_ _5"/> information <span class="_ _5"/>to apply<span class="_ _5"/> defined benefit </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting is not a<span class="_ _5"/>vailable,<span class="_ _5"/> are <span class="_ _5"/>treated as defined<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contribution plans.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue can be divided into <span class="_ _5"/>three levels:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _18"> </span>–<span class="_ _5"/> Quoted prices (unadjusted) in<span class="_ _5"/> active markets f<span class="_ _5"/>or identical as<span class="_ _5"/>sets or liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 – <span class="_ _9"/>Inputs other <span class="_ _5"/>than quoted prices included in le<span class="_ _5"/>vel 1 that<span class="_ _5"/> are observable f<span class="_ _5"/>or<span class="_ _5"/> the asset or<span class="_ _5"/> liability<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _5"/> directly<span class="_ _5"/> (i.e.<span class="_ _5"/> as prices) or<span class="_ _5"/> indirectly<span class="_ _5"/> (i.e.<span class="_ _5"/> derived from pric<span class="_ _5"/>es) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 – Inputs for<span class="_ _5"/> <span class="_ _5"/>the asset or<span class="_ _5"/> liability <span class="_ _5"/>that ar<span class="_ _5"/>e not based on observable mark<span class="_ _5"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of listed securities is within lev<span class="_ _5"/>el 1 of the fair<span class="_ _5"/> v<span class="_ _5"/>alue hierar<span class="_ _5"/>chy<span class="_ _5"/>.<span class="_ _5"/> Non-listed shares and other<span class="_ _5"/> securities ar<span class="_ _5"/>e within <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives is mainl<span class="_ _5"/>y within lev<span class="_ _5"/>el 2 of the fair<span class="_ _5"/> <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _5"/> and is calculated based on observable<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market data as of the end of the r<span class="_ _5"/>eporting period. <span class="_ _5"/>A<span class="_ _5"/> minor amoun<span class="_ _5"/>t of crude oil price deriva<span class="_ _5"/>tives is within level 1 of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> value hierar<span class="_ _5"/>chy<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of level 3 assets and liabilities is primarily<span class="_ _5"/> based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expected futur<span class="_ _5"/>e cash flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _5"/>easonably<span class="_ _5"/> possible change in the discount<span class="_ _5"/> ra<span class="_ _5"/>te is not estimated <span class="_ _5"/>to affect<span class="_ _5"/> the Gr<span class="_ _5"/>oup’s pr<span class="_ _5"/>ofit or<span class="_ _5"/> equity significan<span class="_ _5"/>tly<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the short<span class="_ _5"/>-t<span class="_ _5"/>erm financial assets and other<span class="_ _5"/> financial liabilities carried at amortised cost<span class="_ _5"/> is not material<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _5"/>t from<span class="_ _5"/> the carrying amount.<span class="_ _5"/> In gener<span class="_ _5"/>al, fair<span class="_ _5"/> <span class="_ _5"/>value is determined primaril<span class="_ _5"/>y based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _5"/>s. <span class="_ _5"/>Where a mark<span class="_ _5"/>et price w<span class="_ _5"/>as available,<span class="_ _5"/> howev<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> this w<span class="_ _5"/>as deemed to be <span class="_ _5"/>the fair<span class="_ _5"/> value<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The fair<span class="_ _5"/> <span class="_ _5"/>value of listed issued bonds is within<span class="_ _5"/> level 1 of the f<span class="_ _5"/>air <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _0"/>. The f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the remaining borro<span class="_ _5"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and financial assets are <span class="_ _5"/>within level 2 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y and is calculated based on disc<span class="_ _5"/>ounted future cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Debt instruments (FV<span class="_ _5"/>OCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s debt instrumen<span class="_ _5"/>ts at fair<span class="_ _5"/> <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI include investments in quot<span class="_ _5"/>ed debt instruments and ar<span class="_ _5"/>e included <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">under<span class="_ _5"/> Securities in the balance sheet.<span class="_ _5"/> Inter<span class="_ _5"/>est income,<span class="_ _5"/> for<span class="_ _5"/>eign exchange re<span class="_ _5"/>valuation and impairment<span class="_ _5"/> losses or<span class="_ _5"/> reversals<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement and comput<span class="_ _5"/>ed in the same manner<span class="_ _5"/> as for<span class="_ _5"/> financial assets measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost. <span class="_ _5"/>The remaining f<span class="_ _5"/>air<span class="_ _5"/> value changes ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in OCI. Upon<span class="_ _5"/> derecognition,<span class="_ _5"/> the cumulativ<span class="_ _5"/>e fair<span class="_ _5"/> value chang<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recognised in OCI is recycled <span class="_ _5"/>to profit<span class="_ _5"/> or<span class="_ _5"/> loss.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _8"/>x<span class="_ _10"/><span class="ff3 ls0 ws0"> comprises an estimate of curr<span class="_ _5"/>ent and def<span class="_ _5"/>erred in-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _8"/>adjustments to previous years taxes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _5"/>tax on taxable pr<span class="_ _5"/>ofits, and c<span class="_ _5"/>onsists of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corpora<span class="_ _5"/>tion tax,<span class="_ _5"/> withholding tax of dividends<span class="_ _5"/>, etc.<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>ax is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t t<span class="_ _5"/>o the extent<span class="_ _5"/> that<span class="_ _5"/> it </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arises from it<span class="_ _5"/>ems recognised in <span class="_ _5"/>the income statement,<span class="_ _5"/> in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding tax on gains on<span class="_ _5"/> intra-gr<span class="_ _5"/>oup tr<span class="_ _5"/>ansactions that<span class="_ _5"/> have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been eliminated in <span class="_ _5"/>the consolidation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _5"/> tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _5"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _5"/> Deferred <span class="_ _5"/>tax is not r<span class="_ _5"/>ecognised for<span class="_ _5"/> differ<span class="_ _5"/>ences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _5"/>ecognition of assets or<span class="_ _5"/> liabilities,<span class="_ _5"/> wher<span class="_ _5"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _5"/> accounting <span class="_ _8"/>nor<span class="_ _5"/> tax<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able profit/loss is aff<span class="_ _5"/>ected, unless <span class="_ _5"/>the differ<span class="_ _5"/>ences arise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a business combination.<span class="_ _5"/> In addition,<span class="_ _5"/> no deferred <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _5"/>gnised for<span class="_ _5"/> undistributed earnings in subsidiaries,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when Maersk contr<span class="_ _5"/>ols the timing of dividends<span class="_ _5"/>. No <span class="_ _5"/>taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends are curr<span class="_ _5"/>ently e<span class="_ _5"/>xpected. <span class="_ _5"/>A<span class="_ _5"/> deferred <span class="_ _5"/>tax asset is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised to <span class="_ _5"/>the extent <span class="_ _5"/>that it<span class="_ _5"/> is probable <span class="_ _5"/>that it can<span class="_ _5"/> be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">utilised within a f<span class="_ _5"/>oreseeable future<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Maersk applies the IAS 12 e<span class="_ _5"/>xception t<span class="_ _5"/>o recognising and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing information about<span class="_ _5"/> deferred <span class="_ _5"/>tax assets and lia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bilities relat<span class="_ _5"/>ed to Pillar<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>wo income taxes<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _5"/>-settled performance shares<span class="_ _5"/>, r<span class="_ _5"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _5"/>anted <span class="_ _5"/>to members of the Executiv<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _5"/>to employees of Maersk as part<span class="_ _5"/> of Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long-t<span class="_ _5"/>erm incentive pr<span class="_ _5"/>ogramme ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised as re<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">munera<span class="_ _5"/>tion expenses over<span class="_ _5"/> the <span class="_ _5"/>vesting period as per<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated fair<span class="_ _5"/> <span class="_ _5"/>value at <span class="_ _5"/>the gran<span class="_ _5"/>t date and r<span class="_ _5"/>esult in<span class="_ _5"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding adjustment <span class="_ _5"/>to equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the end of each r<span class="_ _5"/>eporting period, Maersk r<span class="_ _5"/>evises its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated number<span class="_ _5"/> of awar<span class="_ _5"/>ds that<span class="_ _5"/> are expect<span class="_ _5"/>ed to <span class="_ _5"/>vest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the non-mark<span class="_ _5"/>et <span class="_ _5"/>vesting conditions and service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.<span class="_ _5"/> Any<span class="_ _5"/> impact of <span class="_ _5"/>the revision is r<span class="_ _5"/>ecognised in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> with a corr<span class="_ _5"/>esponding adjustment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow<span class="ff3"> from<span class="_ _5"/> operating activities includes al<span class="_ _5"/>l cash </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions other<span class="_ _5"/> <span class="_ _5"/>than cash flows arising from<span class="_ _5"/> investing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and financing activities such as investments and div<span class="_ _5"/>est-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> received dividends<span class="_ _5"/>, principal paymen<span class="_ _5"/>ts of loans, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instalments on lease liabilities,<span class="_ _5"/> paid and receiv<span class="_ _5"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and equity <span class="_ _5"/>transactions<span class="_ _5"/>. Capitalisa<span class="_ _5"/>tion of borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs is considered as a non-cash<span class="_ _5"/> item, and <span class="_ _5"/>the actual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments of <span class="_ _5"/>these borrowing costs ar<span class="_ _5"/>e included in cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">flow from financing.</span></span><span class="_ _5"/> <span><span style="display:inherit;clear:left;">Cash and cash<span class="_ _5"/> equivalents comprise </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash and bank balances net of bank o<span class="_ _5"/>verdr<span class="_ _5"/>afts where </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/>draft<span class="_ _5"/> facilities form an in<span class="_ _5"/>tegr<span class="_ _5"/>al part of Maersk’<span class="_ _5"/>s cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">management.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Basis of prepar<span class="_ _5"/>ation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts for<span class="_ _5"/> 2024 for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Moller<span class="_ _5"/> - Maersk (Maersk) have been pr<span class="_ _5"/>epared on a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">going concern basis and in accor<span class="_ _5"/>dance with IFRS <span class="_ _5"/>Account<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing Standards as adopt<span class="_ _5"/>ed by <span class="_ _5"/>the EU and additional Danish </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosure r<span class="_ _5"/>equirements for<span class="_ _5"/> listed c<span class="_ _5"/>ompanies. <span class="_ _5"/>The con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solidated financial statemen<span class="_ _5"/>ts of Maersk are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the consolidated financial statemen<span class="_ _5"/>ts of A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler Hold-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing A/S<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Basis of prepar<span class="_ _5"/>ation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts for<span class="_ _5"/> 2024 for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Moller<span class="_ _5"/> - Maersk (Maersk) have been pr<span class="_ _5"/>epared on a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">going concern basis and in accor<span class="_ _5"/>dance with IFRS <span class="_ _5"/>Account<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing Standards as adopt<span class="_ _5"/>ed by <span class="_ _5"/>the EU and additional Danish </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosure r<span class="_ _5"/>equirements for<span class="_ _5"/> listed c<span class="_ _5"/>ompanies. <span class="_ _5"/>The con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solidated financial statemen<span class="_ _5"/>ts of Maersk are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the consolidated financial statemen<span class="_ _5"/>ts of A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler Hold-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing A/S<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The accounting policies ar<span class="_ _5"/>e consistent<span class="_ _5"/> with those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">applied in the consolida<span class="_ _5"/>ted financial statements for<span class="_ _5"/> 2023<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">except<span class="_ _5"/> for<span class="_ _5"/> the changes <span class="_ _5"/>to accounting standards <span class="_ _5"/>that <span class="_ _5"/>were </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effective fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024 and wer<span class="_ _5"/>e endorsed by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EU.<span class="_ _5"/> The changes ha<span class="_ _5"/>ve not had a mat<span class="_ _5"/>erial impact on <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The accounting policies ar<span class="_ _5"/>e consistent<span class="_ _5"/> with those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">applied in the consolida<span class="_ _5"/>ted financial statements for<span class="_ _5"/> 2023<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">except<span class="_ _5"/> for<span class="_ _5"/> the changes <span class="_ _5"/>to accounting standards <span class="_ _5"/>that <span class="_ _5"/>were </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effective fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024 and wer<span class="_ _5"/>e endorsed by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EU.<span class="_ _5"/> The changes ha<span class="_ _5"/>ve not had a mat<span class="_ _5"/>erial impact on <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Changes to r<span class="_ _5"/>eportable segments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As a resul<span class="_ _5"/>t of <span class="_ _5"/>the sale of Maersk Supply Service on 15 Ma<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 and the demer<span class="_ _5"/>ger<span class="_ _5"/> of Svitzer<span class="_ _5"/> on 26 <span class="_ _5"/>April 2024<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes t<span class="_ _5"/>o the segment<span class="_ _5"/> structure wer<span class="_ _5"/>e made.<span class="_ _5"/> Accor<span class="_ _5"/>dingly<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the T<span class="_ _0"/>owage &amp; Maritime Services se<span class="_ _5"/>gment is no longer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>tely r<span class="_ _5"/>eported.<span class="_ _5"/> The r<span class="_ _5"/>emaining businesses in T<span class="_ _0"/>owage </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Maritime Services and the contribution<span class="_ _5"/> from Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Supply Servic<span class="_ _5"/>e and Svitzer<span class="_ _5"/> until <span class="_ _5"/>their sale and demer<span class="_ _5"/>ger<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _5"/>y<span class="_ _5"/>, ar<span class="_ _5"/>e report<span class="_ _5"/>ed under Unal<span class="_ _5"/>located items with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024<span class="_ _5"/>. Comparison figur<span class="_ _5"/>es for<span class="_ _5"/> note </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2.<span class="_ _0"/>1 segment information ha<span class="_ _5"/>ve been restat<span class="_ _5"/>ed as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change had been implemented on<span class="_ _5"/> 1 January 2023<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _5"/>ts are as fol<span class="_ _5"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 13.5273px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 38.1992px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 53.1992px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 83.2148px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 98.2148px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.2285px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.2285px; top: 122.887px; width: 127.125px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Segment<span class="_ _5"/> information</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The allocation of business activities in<span class="_ _5"/>to segments r<span class="_ _5"/>eflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s character<span class="_ _5"/> as an int<span class="_ _5"/>egra<span class="_ _5"/>ted container<span class="_ _5"/> logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business and is in line with <span class="_ _5"/>the internal management<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reporting.<span class="_ _5"/> The r<span class="_ _5"/>eportable segments ar<span class="_ _5"/>e as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 13.5117px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.6074px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 38.1836px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.6074px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 53.1836px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 83.1992px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 98.1992px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.371px; width: 199.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Opera<span class="_ _5"/>ting segments have not<span class="_ _5"/> been aggreg<span class="_ _5"/>ated.<span class="_ _5"/> The r<span class="_ _5"/>eport<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able segments comprise:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _5"/> Maersk Line and Aliança and <span class="_ _5"/>the retir<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brands Hambur<span class="_ _5"/>g Süd and Sealand – A<span class="_ _5"/> Maersk company<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with ocean container<span class="_ _5"/> fr<span class="_ _5"/>eight being the main<span class="_ _5"/> revenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stream.<span class="_ _5"/> Ocean container<span class="_ _5"/> freight<span class="_ _5"/> is defined as the cost<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">per-<span class="_ _5"/>weight measur<span class="_ _5"/>e of tr<span class="_ _5"/>ansporting goods on board a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessel acr<span class="_ _5"/>oss the ocean,<span class="_ _5"/> including demurr<span class="_ _5"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and detention,<span class="_ _5"/> terminal handling,<span class="_ _5"/> documentation ser<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vices,<span class="_ _5"/> container<span class="_ _5"/> services as well as container<span class="_ _5"/> stor<span class="_ _5"/>age.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hub activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under the APM T<span class="_ _0"/>erminals <span class="_ _8"/>brand-gener<span class="_ _5"/>ating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>enue by pr<span class="_ _5"/>oviding port services only<span class="_ _5"/> in major<span class="_ _5"/> tr<span class="_ _5"/>an-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shipment ports such as Maas<span class="_ _5"/>vlakte-II,<span class="_ _5"/> Al<span class="_ _5"/>geciras,<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>angier<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>ang<span class="_ _8"/>ier-Med II,<span class="_ _5"/> Port<span class="_ _5"/> Said, and joint<span class="_ _5"/> ventur<span class="_ _5"/>es in Salalah </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and T<span class="_ _0"/>anjung Pelepas.<span class="_ _5"/> The r<span class="_ _5"/>espective terminals ar<span class="_ _5"/>e in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluded under<span class="_ _5"/> the Ocean segmen<span class="_ _5"/>t, as <span class="_ _5"/>the primary purpose </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of those ports <span class="_ _8"/>is to provide tr<span class="_ _5"/>anshipment services to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s Ocean <span class="_ _8"/>business,<span class="_ _5"/> whereas third-party<span class="_ _5"/> volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sold in those locations ar<span class="_ _5"/>e considered secondary<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Energy Markets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sourcing marine fuels for<span class="_ _5"/> Maersk’<span class="_ _5"/>s fleet and <span class="_ _5"/>third-party<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">customers,<span class="_ _5"/> in addition t<span class="_ _5"/>o operating a<span class="_ _5"/> fuel infrastructur<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in ke<span class="_ _5"/>y bunk<span class="_ _5"/>er ports<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics &amp; Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Managed by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Incl<span class="_ _8"/>udes<span class="_ _8"/> Lead<span class="_ _8"/> Logi<span class="_ _8"/>stic<span class="_ _8"/>s, Pr<span class="_ _5"/>oject Logistics,<span class="_ _5"/> Cold Chain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics and Custom Services<span class="_ _5"/>, enabling customers <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">control or<span class="_ _5"/> outsour<span class="_ _5"/>ce part or<span class="_ _5"/> all of <span class="_ _5"/>their suppl<span class="_ _5"/>y chain.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fulfilled by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities such as W<span class="_ _5"/>ar<span class="_ _5"/>ehousing (consolidated,<span class="_ _5"/> deconsoli<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dation and fulfilment),<span class="_ _5"/> Cold Stor<span class="_ _5"/>age,<span class="_ _5"/> Ground Fr<span class="_ _5"/>eight, De<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pot oper<span class="_ _5"/>ations and e-commerce supporting in<span class="_ _5"/>tegr<span class="_ _5"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fulfilment solutions<span class="_ _5"/>, <span class="_ _5"/>to improv<span class="_ _5"/>e customer<span class="_ _5"/> consolidation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>ransported by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Integr<span class="_ _5"/>ated <span class="_ _5"/>transportation<span class="_ _5"/> solutions supported by<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Landside T<span class="_ _0"/>ransportation,<span class="_ _5"/> Cargo Risk Managemen<span class="_ _5"/>t <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">products,<span class="_ _5"/> <span class="_ _5"/>Air<span class="_ _5"/>,<span class="_ _5"/> Less than Con<span class="_ _5"/>tainer Load (L<span class="_ _5"/>CL) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Full Container<span class="_ _5"/> Load (FCL),<span class="_ _5"/> to f<span class="_ _5"/>acilitate supply<span class="_ _5"/> chain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">control acr<span class="_ _5"/>oss Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>erminals</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>erminals activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities in ports fully<span class="_ _5"/> or<span class="_ _5"/> partially<span class="_ _5"/> control<span class="_ _5"/>led by the<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">APM T<span class="_ _0"/>erminals brand,<span class="_ _5"/> with <span class="_ _5"/>the main rev<span class="_ _5"/>enue stream </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">being port activities not<span class="_ _5"/> considered a hub activity<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">described above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Unallocated it<span class="_ _5"/>ems and inter-segment<span class="_ _5"/> rev<span class="_ _5"/>enue</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>owage activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _5"/> the Svitz<span class="_ _5"/>er br<span class="_ _5"/>and,<span class="_ _5"/> a provider<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">offshore <span class="_ _5"/>towage and marine services<span class="_ _5"/>. <span class="_ _5"/>The company<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was demerg<span class="_ _5"/>ed in April 202<span class="_ _5"/>4.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _5"/> Industry</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Manufactur<span class="_ _5"/>er <span class="_ _5"/>that pr<span class="_ _5"/>oduces reefer<span class="_ _5"/> containers<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provides marine services and in<span class="_ _5"/>tegr<span class="_ _5"/>ated solutions t<span class="_ _5"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the energy sect<span class="_ _5"/>or <span class="_ _5"/>worldwide with a lar<span class="_ _5"/>ge fleet of anchor<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handling tug supply<span class="_ _5"/> vessels and subsea<span class="_ _5"/> support v<span class="_ _5"/>essels. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The company <span class="_ _5"/>was divested in Ma<span class="_ _5"/>y 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’s corporate functions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of group-r<span class="_ _5"/>elated costs in Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> businesses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of Maersk Growth,<span class="_ _5"/> Maersk <span class="_ _5"/>T<span class="_ _5"/>raining and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services to the maritime industry.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue between se<span class="_ _5"/>gments is limited,<span class="_ _5"/> except f<span class="_ _5"/>or <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals segment, wher<span class="_ _5"/>e a large part<span class="_ _5"/> of the services </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is delivered <span class="_ _5"/>to the Ocean<span class="_ _5"/> segment as <span class="_ _5"/>well as the sale of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">containers from<span class="_ _5"/> Maersk Container Industry<span class="_ _5"/> to <span class="_ _5"/>the Ocean </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Changes to r<span class="_ _5"/>eportable segments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As a resul<span class="_ _5"/>t of <span class="_ _5"/>the sale of Maersk Supply Service on 15 Ma<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 and the demer<span class="_ _5"/>ger<span class="_ _5"/> of Svitzer<span class="_ _5"/> on 26 <span class="_ _5"/>April 2024<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes t<span class="_ _5"/>o the segment<span class="_ _5"/> structure wer<span class="_ _5"/>e made.<span class="_ _5"/> Accor<span class="_ _5"/>dingly<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the T<span class="_ _0"/>owage &amp; Maritime Services se<span class="_ _5"/>gment is no longer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>tely r<span class="_ _5"/>eported.<span class="_ _5"/> The r<span class="_ _5"/>emaining businesses in T<span class="_ _0"/>owage </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Maritime Services and the contribution<span class="_ _5"/> from Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Supply Servic<span class="_ _5"/>e and Svitzer<span class="_ _5"/> until <span class="_ _5"/>their sale and demer<span class="_ _5"/>ger<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _5"/>y<span class="_ _5"/>, ar<span class="_ _5"/>e report<span class="_ _5"/>ed under Unal<span class="_ _5"/>located items with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024<span class="_ _5"/>. Comparison figur<span class="_ _5"/>es for<span class="_ _5"/> note </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2.<span class="_ _0"/>1 segment information ha<span class="_ _5"/>ve been restat<span class="_ _5"/>ed as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change had been implemented on<span class="_ _5"/> 1 January 2023<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _5"/>ts are as fol<span class="_ _5"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 13.5273px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 38.1992px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 53.1992px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 83.2148px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 98.2148px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.2285px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.2285px; top: 122.887px; width: 127.125px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.<span class="_ _5"/>1 <span class="_"> </span>Segment inf<span class="_ _5"/>ormation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:270.796875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 199.938px; top: 0.0136718px; width: 99.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 319.75px; top: 0.0136718px; width: 116.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unallocated </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 124.811px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Eliminations</span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Consoli-</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 433.688px; top: 11.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 249.344px; top: 12.0137px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.484px; top: 12.0137px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">items</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 516.547px; top: 12.0137px; width: 52.5469px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">dated total</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">External re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">venue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.41px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35,263</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,544</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,441</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,234</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 572.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-segment r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 93.3866px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,125</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-624</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,832</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,388</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,920</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,465</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,541</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,832</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.154px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Opera</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ting costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,202</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,473</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,869</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,665</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,834</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,375</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.045px; width: 134.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before depreciation, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.045px; width: 146.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amortisation and impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.061px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">losses, etc. (EBITDA)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 101.584px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,447</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,601</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-112</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,128</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 161.936px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation and amortisa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,677</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">921</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">564</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,178</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.826px; width: 172.16px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit/loss in joint </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ventur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.826px; width: 569.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and associated companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 93.3866px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">369</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.717px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before financial items (EBIT)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,743</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">538</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,329</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,499</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 230.529px; width: 53.7598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Key</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> metrics:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 245.42px; width: 569.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Invested capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.789px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,864</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,930</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">145</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50,564</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.311px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CAPEX</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,708</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">803</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">109</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,201</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span><span class="ws0">Following <span class="_ _5"/>the demerger<span class="_ _5"/> of Svitzer<span class="_ _5"/> in Q2 202<span class="_ _5"/>4, <span class="_ _5"/>the T<span class="_ _0"/>owage &amp; Maritime Services segment is no long<span class="_ _5"/>er separ<span class="_ _5"/>ately<span class="_ _5"/> reported.<span class="_ _5"/> The r<span class="_ _5"/>emaining <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">businesses in T<span class="_ _0"/>owage &amp; Maritime Services and the con<span class="_ _5"/>tribution from S<span class="_ _5"/>vitzer un<span class="_ _5"/>til its demerger<span class="_ _5"/> are report<span class="_ _5"/>ed under Unal<span class="_ _5"/>located items.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o the income statemen<span class="_ _5"/>t for<span class="_ _5"/> a r<span class="_ _5"/>econciliation from EBIT<span class="_ _5"/> <span class="_ _5"/>to profit<span class="_ _5"/> before <span class="_ _5"/>tax. <span class="_ _5"/>The segment<span class="_ _5"/> assets,<span class="_ _5"/> segment<span class="_ _5"/> liabilities and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the sum of invest<span class="_ _5"/>ed capital per se<span class="_ _5"/>gment can be r<span class="_ _5"/>econciled to <span class="_ _5"/>the assets and liabilities as per<span class="_ _5"/> the balance sheet.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:241.390625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 402.266px; top: 0.0136718px; width: 169.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.5703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Invest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 536.938px; top: 12.0137px; width: 31.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">capital</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 55.8418px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Segment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> invested capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63,196</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,771</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.7539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 50,425</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 70.7168px; width: 504.352px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 316.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,789 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,644 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.6074px; width: 504.217px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Eliminations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,584 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,578 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.498px; width: 572.215px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Consolidated inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ested capital </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.119px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,837</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 50,564 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.498px; width: 44.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Add back:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 8.5px; top: 142.389px; width: 495.615px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 6,575 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.4002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 8.5px; top: 157.279px; width: 493.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables (curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent and non-curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 16,029 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.4002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 8.5px; top: 172.17px; width: 493.025px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">estments, etc. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 277.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,580 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 8.5px; top: 187.061px; width: 495.744px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities and borrowings (curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent and non-curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;"> 16,477 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 118.781px; top: 200.992px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 8.5px; top: 201.092px; width: 110.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value of derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 427.312px; top: 201.123px; width: 74.5547px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">435</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 8.5px; top: 216.014px; width: 495.469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 112 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.133px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 230.904px; width: 504.193px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Consolidated balance sheet a</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.623px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 87,697 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.0664px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 29,750 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Relates <span class="_ _5"/>to the fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives <span class="_ _5"/>that hedge net in<span class="_ _5"/>terest<span class="_ _5"/>-bearing debt, including int<span class="_ _5"/>erest r<span class="_ _5"/>ate and cross curr<span class="_ _5"/>ency swaps<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:270.796875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 199.844px; top: 0.0136718px; width: 99.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 319.25px; top: 0.0136718px; width: 116.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unallocated </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 445.312px; top: 0.0136718px; width: 124.811px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Eliminations</span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Consoli-</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 434.188px; top: 11.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 249.25px; top: 12.0137px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.781px; top: 12.0137px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">items</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 517.703px; top: 12.0137px; width: 52.5469px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">dated total</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">External re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">venue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.41px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,149</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,075</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,859</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,982</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 572.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-segment r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 93.3866px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-159</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">985</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,646</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33,653</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,916</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,844</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,298</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,646</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.154px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Opera</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ting costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,781</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,665</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,566</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,632</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41,574</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.045px; width: 134.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before depreciation, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.045px; width: 146.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amortisation and impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.061px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">losses, etc. (EBITDA)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 101.584px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,940</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,251</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,278</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">128</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,591</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 161.936px; width: 569.572px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation and amortisa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,746</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">817</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">520</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">172</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,238</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.826px; width: 172.16px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit/loss in joint </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ventur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.826px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and associated companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 93.3866px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">282</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">115</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">435</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.717px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before financial items (EBIT)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,227</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">446</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">980</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">270</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,934</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 230.529px; width: 53.7598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Key</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> metrics:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 245.42px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Invested capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.789px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29,851</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,779</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,813</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,025</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-38</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50,430</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.311px; width: 569.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CAPEX</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,987</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">771</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">541</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">360</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,646</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span><span class="ws0">Following <span class="_ _5"/>the demerger<span class="_ _5"/> of Svitzer<span class="_ _5"/> in Q2 202<span class="_ _5"/>4, <span class="_ _5"/>the T<span class="_ _0"/>owage &amp; Maritime Services segment is no long<span class="_ _5"/>er separ<span class="_ _5"/>ately<span class="_ _5"/> reported.<span class="_ _5"/> The r<span class="_ _5"/>emaining </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">businesses in T<span class="_ _0"/>owage &amp; Maritime Services and the con<span class="_ _5"/>tribution from Maersk Supply<span class="_ _5"/> Service and Svitzer<span class="_ _5"/> until its divestment/<span class="_ _5"/>demer<span class="_ _5"/>ger ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reported under<span class="_ _5"/> Unallocat<span class="_ _5"/>ed items.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:226.5px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 402.875px; top: 0.0136718px; width: 169.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.5703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Invest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 538.188px; top: 12.0137px; width: 31.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">capital</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 55.8262px; width: 571.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Segment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> invested capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">60,410</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,967</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.7539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 48,443 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 70.7168px; width: 504.352px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 316.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3,578 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,553 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.6074px; width: 504.217px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Eliminations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,292 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,254 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.498px; width: 572.215px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Consolidated inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ested capital </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.119px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">62,696</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,266</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 50,430 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.498px; width: 44.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Add back:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 7.65625px; top: 142.389px; width: 493.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.338px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 7.65625px; top: 157.279px; width: 493.342px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables (curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent and non-curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,005</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 7.65625px; top: 172.154px; width: 493.242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities and borrowings (curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent and non-curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.389px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 120.109px; top: 186.102px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 7.65625px; top: 186.201px; width: 110.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value of derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 429.875px; top: 186.232px; width: 72.3574px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">351</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 7.65625px; top: 201.123px; width: 492.943px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.93px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">176</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.014px; width: 435.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Consolidated balance sheet a</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.623px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 82,578 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 216.014px; width: 40.2363px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 27,488 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Relates <span class="_ _5"/>to the fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives <span class="_ _5"/>that hedge net in<span class="_ _5"/>terest<span class="_ _5"/>-bearing debt, including int<span class="_ _5"/>erest r<span class="_ _5"/>ate and cross curr<span class="_ _5"/>ency swaps<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The segment<span class="_ _5"/> disclosures pro<span class="_ _5"/>vided above reflect<span class="_ _5"/> the informa<span class="_ _5"/>tion which the Ex<span class="_ _5"/>ecutive Board r<span class="_ _5"/>eceives monthly<span class="_ _5"/> in its capacity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as <span class="_ _5"/>‘<span class="_ _5"/>chief oper<span class="_ _5"/>ating decision mak<span class="_ _5"/>er’<span class="_ _5"/> as defined in<span class="_ _5"/> IFRS 8.<span class="_ _5"/> The al<span class="_ _5"/>location of resour<span class="_ _5"/>ces and the se<span class="_ _5"/>gment performance ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">evaluated based on re<span class="_ _5"/>venue and profitability<span class="_ _5"/> measured on earnings bef<span class="_ _5"/>ore inter<span class="_ _5"/>est and <span class="_ _5"/>taxes (EBIT).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Moller<span class="_ _5"/> - Maersk (Maersk) has organised se<span class="_ _5"/>gments in <span class="_ _0"/>‘Ocean’<span class="_ _5"/>,<span class="_ _5"/> <span class="_ _0"/>‘Logistics &amp; Services’<span class="_ _5"/> and <span class="_ _5"/>‘T<span class="_ _0"/>erminals’<span class="_ _5"/>.<span class="_ _5"/> The Ocean se<span class="_ _5"/>gment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with the activities of Maersk Liner<span class="_ _5"/> Business includes Maersk Line,<span class="_ _5"/> <span class="_ _5"/>Aliança and business from <span class="_ _5"/>the retir<span class="_ _5"/>ed brands Sealand<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">– A<span class="_ _5"/> Maersk company<span class="_ _5"/> and Hamburg Süd as wel<span class="_ _5"/>l as strat<span class="_ _5"/>egic tr<span class="_ _5"/>anshipment hubs under<span class="_ _5"/> the <span class="_ _5"/>APM <span class="_ _5"/>T<span class="_ _5"/>erminals br<span class="_ _5"/>and.<span class="_ _5"/> Inland </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">activities related <span class="_ _5"/>to Maersk Liner<span class="_ _5"/> Business are included in <span class="_ _5"/>the Logistics &amp; Services segment.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Logistics &amp; Services segment<span class="_ _5"/> includes the activities fr<span class="_ _5"/>om Managed by Maersk,<span class="_ _5"/> Fulfil<span class="_ _5"/>led by Maersk and <span class="_ _5"/>T<span class="_ _5"/>r<span class="_ _5"/>ansported </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by Maersk.<span class="_ _5"/> <span class="_ _5"/>The T<span class="_ _0"/>erminals segment includes ga<span class="_ _5"/>teway<span class="_ _5"/> terminals<span class="_ _5"/>, invol<span class="_ _5"/>ving landside activities such as port activities <span class="_ _5"/>where </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the customers are mainl<span class="_ _5"/>y <span class="_ _5"/>the carriers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:270.4375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 0.0136718px; width: 245.848px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">External re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">venue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.7852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-current assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Geographical split</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.803px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.711px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">869</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,776</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,592</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.4043px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Austr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 259.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,019</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,284</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">91</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">68</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.4512px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,684</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,431</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">315</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">207</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.4824px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">China and Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.574px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,745</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,796</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,466</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,643</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.529px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Costa Rica </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">384</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">761</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">795</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 119.561px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 259.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,711</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,668</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,345</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 133.607px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 278.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,316</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,397</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">605</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">629</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.639px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,541</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">608</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">613</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 161.686px; width: 569.848px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Morocco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.965px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">350</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">300</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,605</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.717px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 243.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,229</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,603</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,510</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,165</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 189.764px; width: 569.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Singapore</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 254.244px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,016</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">992</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,461</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,853</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.795px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.643px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,514</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,337</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,016</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,068</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 217.842px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.346px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,208</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,823</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">336</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">320</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 231.873px; width: 569.947px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.643px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,173</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,457</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,371</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,210</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 245.92px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,948</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,360</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,740</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 259.951px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.502px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">48,674</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">46,853</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span><span class="ws0">Comprise intangible assets,<span class="_ _5"/> property<span class="_ _5"/>,<span class="_ _5"/> plant and equipment and righ<span class="_ _5"/>t-of-use assets,<span class="_ _5"/> excluding financial non-curr<span class="_ _5"/>ent assets rela<span class="_ _5"/>ting to </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">continuing opera<span class="_ _5"/>tions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Geographical inf<span class="_ _5"/>ormation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue on shipping activities is based on<span class="_ _5"/> the port of dischar<span class="_ _5"/>ge for<span class="_ _5"/> all <span class="_ _5"/>vessels opera<span class="_ _5"/>ted by <span class="_ _5"/>the Group,<span class="_ _5"/> including leased </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vessels on <span class="_ _5"/>time charter<span class="_ _5"/> agreements.<span class="_ _5"/> Revenue f<span class="_ _5"/>or leasing out<span class="_ _5"/> the <span class="_ _5"/>vessels on time chart<span class="_ _5"/>er agr<span class="_ _5"/>eement,<span class="_ _5"/> where <span class="_ _5"/>the Group acts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as a lessor<span class="_ _0"/>, is based on the customer<span class="_ _5"/> location.<span class="_ _5"/> For<span class="_ _5"/> non-current<span class="_ _5"/> assets (e.g.<span class="_ _5"/> terminals),<span class="_ _5"/> which cannot<span class="_ _5"/> be easily mov<span class="_ _5"/>ed, geo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">graphical loca<span class="_ _5"/>tion is where <span class="_ _5"/>the assets are locat<span class="_ _5"/>ed. For<span class="_ _5"/> all other<span class="_ _5"/> assets,<span class="_ _5"/> geogr<span class="_ _5"/>aphical location is based on <span class="_ _5"/>the legal owner<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ship.<span class="_ _5"/> These assets consist<span class="_ _5"/> mainly of <span class="_ _5"/>vessels and containers r<span class="_ _5"/>egistered in<span class="_ _5"/> China, Denmark,<span class="_ _5"/> Singapore and <span class="_ _5"/>the USA.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICIES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Segment<span class="_ _5"/> information</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The allocation of business activities in<span class="_ _5"/>to segments r<span class="_ _5"/>eflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s character<span class="_ _5"/> as an int<span class="_ _5"/>egra<span class="_ _5"/>ted container<span class="_ _5"/> logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business and is in line with <span class="_ _5"/>the internal management<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reporting.<span class="_ _5"/> The r<span class="_ _5"/>eportable segments ar<span class="_ _5"/>e as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 13.5117px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.6074px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 38.1836px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.6074px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 53.1836px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 83.1992px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 71.9219px; top: 98.1992px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.371px; width: 199.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Opera<span class="_ _5"/>ting segments have not<span class="_ _5"/> been aggreg<span class="_ _5"/>ated.<span class="_ _5"/> The r<span class="_ _5"/>eport<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able segments comprise:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _5"/> Maersk Line and Aliança and <span class="_ _5"/>the retir<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brands Hambur<span class="_ _5"/>g Süd and Sealand – A<span class="_ _5"/> Maersk company<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with ocean container<span class="_ _5"/> fr<span class="_ _5"/>eight being the main<span class="_ _5"/> revenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stream.<span class="_ _5"/> Ocean container<span class="_ _5"/> freight<span class="_ _5"/> is defined as the cost<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">per-<span class="_ _5"/>weight measur<span class="_ _5"/>e of tr<span class="_ _5"/>ansporting goods on board a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessel acr<span class="_ _5"/>oss the ocean,<span class="_ _5"/> including demurr<span class="_ _5"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and detention,<span class="_ _5"/> terminal handling,<span class="_ _5"/> documentation ser<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vices,<span class="_ _5"/> container<span class="_ _5"/> services as well as container<span class="_ _5"/> stor<span class="_ _5"/>age.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hub activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under the APM T<span class="_ _0"/>erminals <span class="_ _8"/>brand-gener<span class="_ _5"/>ating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>enue by pr<span class="_ _5"/>oviding port services only<span class="_ _5"/> in major<span class="_ _5"/> tr<span class="_ _5"/>an-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shipment ports such as Maas<span class="_ _5"/>vlakte-II,<span class="_ _5"/> Al<span class="_ _5"/>geciras,<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>angier<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>ang<span class="_ _8"/>ier-Med II,<span class="_ _5"/> Port<span class="_ _5"/> Said, and joint<span class="_ _5"/> ventur<span class="_ _5"/>es in Salalah </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and T<span class="_ _0"/>anjung Pelepas.<span class="_ _5"/> The r<span class="_ _5"/>espective terminals ar<span class="_ _5"/>e in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluded under<span class="_ _5"/> the Ocean segmen<span class="_ _5"/>t, as <span class="_ _5"/>the primary purpose </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of those ports <span class="_ _8"/>is to provide tr<span class="_ _5"/>anshipment services to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s Ocean <span class="_ _8"/>business,<span class="_ _5"/> whereas third-party<span class="_ _5"/> volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sold in those locations ar<span class="_ _5"/>e considered secondary<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Energy Markets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sourcing marine fuels for<span class="_ _5"/> Maersk’<span class="_ _5"/>s fleet and <span class="_ _5"/>third-party<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">customers,<span class="_ _5"/> in addition t<span class="_ _5"/>o operating a<span class="_ _5"/> fuel infrastructur<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in ke<span class="_ _5"/>y bunk<span class="_ _5"/>er ports<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics &amp; Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Managed by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Incl<span class="_ _8"/>udes<span class="_ _8"/> Lead<span class="_ _8"/> Logi<span class="_ _8"/>stic<span class="_ _8"/>s, Pr<span class="_ _5"/>oject Logistics,<span class="_ _5"/> Cold Chain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics and Custom Services<span class="_ _5"/>, enabling customers <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">control or<span class="_ _5"/> outsour<span class="_ _5"/>ce part or<span class="_ _5"/> all of <span class="_ _5"/>their suppl<span class="_ _5"/>y chain.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fulfilled by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities such as W<span class="_ _5"/>ar<span class="_ _5"/>ehousing (consolidated,<span class="_ _5"/> deconsoli<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dation and fulfilment),<span class="_ _5"/> Cold Stor<span class="_ _5"/>age,<span class="_ _5"/> Ground Fr<span class="_ _5"/>eight, De<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pot oper<span class="_ _5"/>ations and e-commerce supporting in<span class="_ _5"/>tegr<span class="_ _5"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fulfilment solutions<span class="_ _5"/>, <span class="_ _5"/>to improv<span class="_ _5"/>e customer<span class="_ _5"/> consolidation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>ransported by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Integr<span class="_ _5"/>ated <span class="_ _5"/>transportation<span class="_ _5"/> solutions supported by<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Landside T<span class="_ _0"/>ransportation,<span class="_ _5"/> Cargo Risk Managemen<span class="_ _5"/>t <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">products,<span class="_ _5"/> <span class="_ _5"/>Air<span class="_ _5"/>,<span class="_ _5"/> Less than Con<span class="_ _5"/>tainer Load (L<span class="_ _5"/>CL) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Full Container<span class="_ _5"/> Load (FCL),<span class="_ _5"/> to f<span class="_ _5"/>acilitate supply<span class="_ _5"/> chain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">control acr<span class="_ _5"/>oss Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>erminals</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>erminals activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities in ports fully<span class="_ _5"/> or<span class="_ _5"/> partially<span class="_ _5"/> control<span class="_ _5"/>led by the<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">APM T<span class="_ _0"/>erminals brand,<span class="_ _5"/> with <span class="_ _5"/>the main rev<span class="_ _5"/>enue stream </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">being port activities not<span class="_ _5"/> considered a hub activity<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">described above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Unallocated it<span class="_ _5"/>ems and inter-segment<span class="_ _5"/> rev<span class="_ _5"/>enue</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>owage activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _5"/> the Svitz<span class="_ _5"/>er br<span class="_ _5"/>and,<span class="_ _5"/> a provider<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">offshore <span class="_ _5"/>towage and marine services<span class="_ _5"/>. <span class="_ _5"/>The company<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was demerg<span class="_ _5"/>ed in April 202<span class="_ _5"/>4.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _5"/> Industry</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Manufactur<span class="_ _5"/>er <span class="_ _5"/>that pr<span class="_ _5"/>oduces reefer<span class="_ _5"/> containers<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provides marine services and in<span class="_ _5"/>tegr<span class="_ _5"/>ated solutions t<span class="_ _5"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the energy sect<span class="_ _5"/>or <span class="_ _5"/>worldwide with a lar<span class="_ _5"/>ge fleet of anchor<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handling tug supply<span class="_ _5"/> vessels and subsea<span class="_ _5"/> support v<span class="_ _5"/>essels. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The company <span class="_ _5"/>was divested in Ma<span class="_ _5"/>y 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’s corporate functions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of group-r<span class="_ _5"/>elated costs in Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> businesses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of Maersk Growth,<span class="_ _5"/> Maersk <span class="_ _5"/>T<span class="_ _5"/>raining and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services to the maritime industry.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue between se<span class="_ _5"/>gments is limited,<span class="_ _5"/> except f<span class="_ _5"/>or <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals segment, wher<span class="_ _5"/>e a large part<span class="_ _5"/> of the services </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is delivered <span class="_ _5"/>to the Ocean<span class="_ _5"/> segment as <span class="_ _5"/>well as the sale of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">containers from<span class="_ _5"/> Maersk Container Industry<span class="_ _5"/> to <span class="_ _5"/>the Ocean </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Changes to r<span class="_ _5"/>eportable segments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As a resul<span class="_ _5"/>t of <span class="_ _5"/>the sale of Maersk Supply Service on 15 Ma<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 and the demer<span class="_ _5"/>ger<span class="_ _5"/> of Svitzer<span class="_ _5"/> on 26 <span class="_ _5"/>April 2024<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes t<span class="_ _5"/>o the segment<span class="_ _5"/> structure wer<span class="_ _5"/>e made.<span class="_ _5"/> Accor<span class="_ _5"/>dingly<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the T<span class="_ _0"/>owage &amp; Maritime Services se<span class="_ _5"/>gment is no longer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>tely r<span class="_ _5"/>eported.<span class="_ _5"/> The r<span class="_ _5"/>emaining businesses in T<span class="_ _0"/>owage </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Maritime Services and the contribution<span class="_ _5"/> from Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Supply Servic<span class="_ _5"/>e and Svitzer<span class="_ _5"/> until <span class="_ _5"/>their sale and demer<span class="_ _5"/>ger<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _5"/>y<span class="_ _5"/>, ar<span class="_ _5"/>e report<span class="_ _5"/>ed under Unal<span class="_ _5"/>located items with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect fr<span class="_ _5"/>om 1 January<span class="_ _5"/> 2024<span class="_ _5"/>. Comparison figur<span class="_ _5"/>es for<span class="_ _5"/> note </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2.<span class="_ _0"/>1 segment information ha<span class="_ _5"/>ve been restat<span class="_ _5"/>ed as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change had been implemented on<span class="_ _5"/> 1 January 2023<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _5"/>ts are as fol<span class="_ _5"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:134.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Global container shipping activities,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 13.5273px; width: 178.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">including stra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tegic tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anshipment hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 38.1992px; width: 174.727px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Integr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ated tr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation,</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fulfilment </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 53.1992px; width: 178.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and management solutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">, including </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 68.1992px; width: 160.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">landside and air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansportation as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 83.2148px; width: 178.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">well as w</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing and supply</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> chain </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.6562px; top: 98.2148px; width: 107.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">management off</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.2285px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 72.2285px; top: 122.887px; width: 127.125px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y terminal activities</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restatement<span class="_ _5"/> to 2023 balance sheet<span class="_ _5"/> figures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _5"/>, <span class="_ _5"/>the 2023 contract<span class="_ _5"/> liabilities previousl<span class="_ _5"/>y offset<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">against <span class="_ _5"/>trade r<span class="_ _5"/>eceivables w<span class="_ _5"/>ere resta<span class="_ _5"/>ted and presented<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>tely as liabilities<span class="_ _5"/>. <span class="_ _5"/>Accordingl<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>T<span class="_ _5"/>r<span class="_ _5"/>ade receiv<span class="_ _5"/>ables and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferr<span class="_ _5"/>ed income have been gr<span class="_ _5"/>ossed up. Not<span class="_ _5"/>es impacted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">include note 2.<span class="_ _0"/>1 (contract as<span class="_ _5"/>sets and contract<span class="_ _5"/> liabilities), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">note 4.5 (r<span class="_ _5"/>eceivables not<span class="_ _5"/> due), note 4<span class="_ _5"/>.6 (trade r<span class="_ _5"/>eceivables) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and note 5<span class="_ _5"/>.5 (other <span class="_ _5"/>working capital movements).<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact on the balance sheet<span class="_ _5"/> is as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:226.03125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 193.094px; top: 0.0136718px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.938px; top: 21.7012px; width: 59.8535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Published in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 209.906px; top: 21.7012px; width: 56.0508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Restated in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 173.312px; top: 33.7012px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 237.781px; top: 33.7012px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 55.4043px; width: 27.9961px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 70.2949px; width: 263.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,881 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.1855px; width: 265.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Receivables, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.3966px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20,873 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21,351 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.061px; width: 266.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,022 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.2734px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,500 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.951px; width: 265.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 106.406px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,100 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,578 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 141.951px; width: 91.3125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity and liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 156.842px; width: 265.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">568 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 171.732px; width: 266.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> current liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,296 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,774 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 186.623px; width: 265.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.3029px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,391 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,869 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 200.654px; width: 265.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,010 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,488 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 215.545px; width: 263.314px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal equity</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,100 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82,578</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consolidation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts comprise the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _5"/> company <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S,<span class="_ _5"/> its subsidiaries </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proportionat<span class="_ _5"/>e shares in joint<span class="_ _5"/> arrangemen<span class="_ _5"/>ts classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as joint oper<span class="_ _5"/>ations.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Subsidiaries ar<span class="_ _5"/>e entities control<span class="_ _5"/>led by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.<span class="_ _5"/> Control is based on <span class="_ _5"/>the power<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to direct<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> activities of an entity and <span class="_ _5"/>the ex-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">posure,<span class="_ _5"/> or<span class="_ _5"/> right, <span class="_ _5"/>to v<span class="_ _5"/>ariable returns arising fr<span class="_ _5"/>om it. In<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">connection, r<span class="_ _5"/>elevan<span class="_ _5"/>t activities are <span class="_ _5"/>those that<span class="_ _5"/> significantly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">affect <span class="_ _5"/>the investee’<span class="_ _5"/>s r<span class="_ _5"/>eturns. Con<span class="_ _5"/>trol is usuall<span class="_ _5"/>y achieved </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by dir<span class="_ _5"/>ectly or<span class="_ _5"/> indir<span class="_ _5"/>ectly o<span class="_ _5"/>wning or in other<span class="_ _5"/> w<span class="_ _5"/>ays controlling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _5"/>than 50% of the <span class="_ _5"/>voting rights or<span class="_ _5"/> by other<span class="_ _5"/> rights,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such as agreements on<span class="_ _5"/> management contr<span class="_ _5"/>ol.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Joint<span class="_ _5"/> arrangements ar<span class="_ _5"/>e entities in which<span class="_ _5"/> Maersk, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">according <span class="_ _5"/>to contr<span class="_ _5"/>actual agreements <span class="_ _5"/>with one or mor<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> parties, has join<span class="_ _5"/>t contr<span class="_ _5"/>ol. <span class="_ _5"/>The arrang<span class="_ _5"/>ements are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as joint <span class="_ _5"/>ventures<span class="_ _5"/>, if <span class="_ _5"/>the contracting parties’<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rights are limited <span class="_ _5"/>to net as<span class="_ _5"/>sets in the separ<span class="_ _5"/>ate legal en<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tities,<span class="_ _5"/> and as joint oper<span class="_ _5"/>ations,<span class="_ _5"/> if the parties have dir<span class="_ _5"/>ect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and unlimited rights t<span class="_ _5"/>o the assets and obligations f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the liabilities of the arr<span class="_ _5"/>angement.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Entities in which Maersk exercises a<span class="_ _5"/> significant but<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-control<span class="_ _5"/>ling influence are consider<span class="_ _5"/>ed associated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">companies.<span class="_ _5"/> A<span class="_ _5"/> significant influence is usual<span class="_ _5"/>ly achie<span class="_ _5"/>ved by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y or<span class="_ _5"/> indirectly<span class="_ _5"/> owning or<span class="_ _5"/> control<span class="_ _5"/>ling 20-50% of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">voting rights.<span class="_ _5"/> Agr<span class="_ _5"/>eements and other<span class="_ _5"/> circumstances ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered when<span class="_ _5"/> assessing the degr<span class="_ _5"/>ee of influence.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consolidation is performed by<span class="_ _5"/> summarising the financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">statements of <span class="_ _5"/>the parent<span class="_ _5"/> company and its subsidiaries in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accordance <span class="_ _5"/>with Maersk’s ac<span class="_ _5"/>counting policies.<span class="_ _5"/> Intra- <span class="_ _9"/>group </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income and expenses,<span class="_ _5"/> shareholdings<span class="_ _5"/>, dividends,<span class="_ _5"/> intr<span class="_ _5"/>a- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group balances and gains on<span class="_ _5"/> intra-gr<span class="_ _5"/>oup tr<span class="_ _5"/>ansactions are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eliminated.<span class="_ _5"/> Unrealised gains on <span class="_ _5"/>transactions <span class="_ _5"/>with asso-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ciated companies and joint<span class="_ _5"/> arrangemen<span class="_ _5"/>ts are eliminated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in proportion<span class="_ _5"/> to Maersk’<span class="_ _5"/>s ownership share<span class="_ _5"/>. Unr<span class="_ _5"/>ealised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses are eliminat<span class="_ _5"/>ed in the same w<span class="_ _5"/>ay unless <span class="_ _5"/>they indicat<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests’<span class="_ _5"/> shar<span class="_ _5"/>e of profit/loss for<span class="_ _5"/> <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">year<span class="_ _5"/> and of equity in subsidiaries ar<span class="_ _5"/>e included as part of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk’<span class="_ _5"/>s profit and equity<span class="_ _0"/>, respectivel<span class="_ _5"/>y<span class="_ _5"/>, but<span class="_ _5"/> shown as <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">separa<span class="_ _5"/>te items.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Foreign currency<span class="_ _5"/> translation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts are presen<span class="_ _5"/>ted in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD,<span class="_ _5"/> the functional curr<span class="_ _5"/>ency of <span class="_ _5"/>the parent c<span class="_ _5"/>ompany<span class="_ _5"/>. In<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>tion to <span class="_ _5"/>the presentation curr<span class="_ _5"/>ency f<span class="_ _5"/>or subsidiaries<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">associates or<span class="_ _5"/> joint arr<span class="_ _5"/>angements <span class="_ _5"/>with functional curren-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cies other<span class="_ _5"/> than USD<span class="_ _5"/>, <span class="_ _5"/>the total compr<span class="_ _5"/>ehensive income is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>ted into USD at<span class="_ _5"/> aver<span class="_ _5"/>age exchange r<span class="_ _5"/>ates,<span class="_ _5"/> and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet is <span class="_ _5"/>translat<span class="_ _5"/>ed at <span class="_ _5"/>the exchange r<span class="_ _5"/>ates as at <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet dat<span class="_ _5"/>e. Ex<span class="_ _5"/>change rat<span class="_ _5"/>e differences arising fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such tr<span class="_ _5"/>anslations ar<span class="_ _5"/>e recognised dir<span class="_ _5"/>ectly in<span class="_ _5"/> other compr<span class="_ _5"/>e<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hensive income and in a separ<span class="_ _5"/>ate r<span class="_ _5"/>eserve of equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The functional curr<span class="_ _5"/>ency v<span class="_ _5"/>aries from business ar<span class="_ _5"/>ea to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business area.<span class="_ _5"/> For<span class="_ _5"/> Maersk’s principal shipping activities<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> is typicall<span class="_ _5"/>y USD.<span class="_ _5"/> <span class="_ _5"/>This means, among </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> things,<span class="_ _5"/> that<span class="_ _5"/> the carrying amounts of pr<span class="_ _5"/>operty<span class="_ _5"/>,<span class="_ _5"/> plant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equipment and intangible assets and,<span class="_ _5"/> hence,<span class="_ _5"/> depre<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ciation and amortisation,<span class="_ _5"/> are maintained in USD<span class="_ _5"/> from <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date of acquisition.<span class="_ _5"/> For<span class="_ _5"/> other activities<span class="_ _5"/>, including container<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal activities and land-based logistics activities,<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> is general<span class="_ _5"/>ly <span class="_ _5"/>the local currency<span class="_ _5"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">country in<span class="_ _5"/> which such activities are perf<span class="_ _5"/>ormed, unless cir<span class="_ _5"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumstances suggest a<span class="_ _5"/> different<span class="_ _5"/> currency<span class="_ _5"/> is appropriate<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>T<span class="_ _5"/>r<span class="_ _5"/>ansactions in curr<span class="_ _5"/>encies other <span class="_ _5"/>than the functional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/> are tr<span class="_ _5"/>anslated a<span class="_ _5"/>t the ex<span class="_ _5"/>change rat<span class="_ _5"/>e prev<span class="_ _5"/>ailing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the date of the <span class="_ _5"/>transaction.<span class="_ _5"/> Monetary it<span class="_ _5"/>ems in for<span class="_ _5"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies not<span class="_ _5"/> settled at <span class="_ _5"/>the balance sheet date ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>ted at <span class="_ _5"/>the exchange r<span class="_ _5"/>ate as at<span class="_ _5"/> the balance sheet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date.<span class="_ _5"/> Foreign<span class="_ _5"/> exchange gains and losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> as financial income or<span class="_ _5"/> expenses.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Foreign currency<span class="_ _5"/> translation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _5"/>ts are presen<span class="_ _5"/>ted in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD,<span class="_ _5"/> the functional curr<span class="_ _5"/>ency of <span class="_ _5"/>the parent c<span class="_ _5"/>ompany<span class="_ _5"/>. In<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>tion to <span class="_ _5"/>the presentation curr<span class="_ _5"/>ency f<span class="_ _5"/>or subsidiaries<span class="_ _5"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">associates or<span class="_ _5"/> joint arr<span class="_ _5"/>angements <span class="_ _5"/>with functional curren-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cies other<span class="_ _5"/> than USD<span class="_ _5"/>, <span class="_ _5"/>the total compr<span class="_ _5"/>ehensive income is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>ted into USD at<span class="_ _5"/> aver<span class="_ _5"/>age exchange r<span class="_ _5"/>ates,<span class="_ _5"/> and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet is <span class="_ _5"/>translat<span class="_ _5"/>ed at <span class="_ _5"/>the exchange r<span class="_ _5"/>ates as at <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet dat<span class="_ _5"/>e. Ex<span class="_ _5"/>change rat<span class="_ _5"/>e differences arising fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such tr<span class="_ _5"/>anslations ar<span class="_ _5"/>e recognised dir<span class="_ _5"/>ectly in<span class="_ _5"/> other compr<span class="_ _5"/>e<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hensive income and in a separ<span class="_ _5"/>ate r<span class="_ _5"/>eserve of equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The functional curr<span class="_ _5"/>ency v<span class="_ _5"/>aries from business ar<span class="_ _5"/>ea to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business area.<span class="_ _5"/> For<span class="_ _5"/> Maersk’s principal shipping activities<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> is typicall<span class="_ _5"/>y USD.<span class="_ _5"/> <span class="_ _5"/>This means, among </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> things,<span class="_ _5"/> that<span class="_ _5"/> the carrying amounts of pr<span class="_ _5"/>operty<span class="_ _5"/>,<span class="_ _5"/> plant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equipment and intangible assets and,<span class="_ _5"/> hence,<span class="_ _5"/> depre<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ciation and amortisation,<span class="_ _5"/> are maintained in USD<span class="_ _5"/> from <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date of acquisition.<span class="_ _5"/> For<span class="_ _5"/> other activities<span class="_ _5"/>, including container<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal activities and land-based logistics activities,<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _5"/> is general<span class="_ _5"/>ly <span class="_ _5"/>the local currency<span class="_ _5"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">country in<span class="_ _5"/> which such activities are perf<span class="_ _5"/>ormed, unless cir<span class="_ _5"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumstances suggest a<span class="_ _5"/> different<span class="_ _5"/> currency<span class="_ _5"/> is appropriate<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>T<span class="_ _5"/>r<span class="_ _5"/>ansactions in curr<span class="_ _5"/>encies other <span class="_ _5"/>than the functional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/> are tr<span class="_ _5"/>anslated a<span class="_ _5"/>t the ex<span class="_ _5"/>change rat<span class="_ _5"/>e prev<span class="_ _5"/>ailing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the date of the <span class="_ _5"/>transaction.<span class="_ _5"/> Monetary it<span class="_ _5"/>ems in for<span class="_ _5"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies not<span class="_ _5"/> settled at <span class="_ _5"/>the balance sheet date ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _5"/>ted at <span class="_ _5"/>the exchange r<span class="_ _5"/>ate as at<span class="_ _5"/> the balance sheet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date.<span class="_ _5"/> Foreign<span class="_ _5"/> exchange gains and losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> as financial income or<span class="_ _5"/> expenses.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _5"/> profit/loss in associat<span class="_ _5"/>ed companies and joint ven-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _5"/>gnised net of <span class="_ _5"/>tax and corrected f<span class="_ _5"/>or <span class="_ _5"/>the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _5"/>a-group g<span class="_ _5"/>ains and losses. <span class="_ _5"/>The item also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _5"/>t losses for<span class="_ _5"/> such inv<span class="_ _5"/>estments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _5"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised as Maersk’<span class="_ _5"/>s share of <span class="_ _5"/>the equity v<span class="_ _5"/>alue in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">clusive of goodwill less an<span class="_ _5"/>y impairment<span class="_ _5"/> losses. Goodwil<span class="_ _5"/>l is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an inte<span class="_ _5"/>gral part<span class="_ _5"/> of the v<span class="_ _5"/>alue of associated companies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">joint <span class="_ _5"/>ventures and is <span class="_ _5"/>theref<span class="_ _5"/>ore subject <span class="_ _5"/>to an impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test <span class="_ _5"/>together<span class="_ _5"/> with<span class="_ _5"/> the investment.<span class="_ _5"/> Impairment<span class="_ _5"/> losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>ersed to the extent the original value is considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recov<span class="_ _5"/>erable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint vent<span class="_ _5"/>ures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:244.578125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.3105px; width: 580.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Blue Drag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">on Logistics Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 581.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brasil </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Portuario S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.1074px; width: 580.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cai Mep International </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vietnam</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 580.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cote D’Ivoir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal SA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Côte d’Ivoir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.9043px; width: 580.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LCB Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal 1 L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Thailand</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LCMT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Thailand</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.701px; width: 581.062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">North Sea </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emerhaven Gmbh and Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao New Qianw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">an Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.498px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao Qianwan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Container </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Shanghai East Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.637px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.295px; width: 580.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Smart Int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ernational Logistics Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South Florida Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.225px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.092px; width: 577.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Xiamen Songyu Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25%</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _5"/> profit/loss in associat<span class="_ _5"/>ed companies and joint ven-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _5"/>gnised net of <span class="_ _5"/>tax and corrected f<span class="_ _5"/>or <span class="_ _5"/>the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _5"/>a-group g<span class="_ _5"/>ains and losses. <span class="_ _5"/>The item also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _5"/>t losses for<span class="_ _5"/> such inv<span class="_ _5"/>estments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _5"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised as Maersk’<span class="_ _5"/>s share of <span class="_ _5"/>the equity v<span class="_ _5"/>alue in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">clusive of goodwill less an<span class="_ _5"/>y impairment<span class="_ _5"/> losses. Goodwil<span class="_ _5"/>l is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an inte<span class="_ _5"/>gral part<span class="_ _5"/> of the v<span class="_ _5"/>alue of associated companies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">joint <span class="_ _5"/>ventures and is <span class="_ _5"/>theref<span class="_ _5"/>ore subject <span class="_ _5"/>to an impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test <span class="_ _5"/>together<span class="_ _5"/> with<span class="_ _5"/> the investment.<span class="_ _5"/> Impairment<span class="_ _5"/> losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>ersed to the extent the original value is considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recov<span class="_ _5"/>erable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _5"/> profit/loss in associat<span class="_ _5"/>ed companies and joint ven-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _5"/>gnised net of <span class="_ _5"/>tax and corrected f<span class="_ _5"/>or <span class="_ _5"/>the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _5"/>a-group g<span class="_ _5"/>ains and losses. <span class="_ _5"/>The item also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _5"/>t losses for<span class="_ _5"/> such inv<span class="_ _5"/>estments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _5"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised as Maersk’<span class="_ _5"/>s share of <span class="_ _5"/>the equity v<span class="_ _5"/>alue in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">clusive of goodwill less an<span class="_ _5"/>y impairment<span class="_ _5"/> losses. Goodwil<span class="_ _5"/>l is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an inte<span class="_ _5"/>gral part<span class="_ _5"/> of the v<span class="_ _5"/>alue of associated companies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">joint <span class="_ _5"/>ventures and is <span class="_ _5"/>theref<span class="_ _5"/>ore subject <span class="_ _5"/>to an impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test <span class="_ _5"/>together<span class="_ _5"/> with<span class="_ _5"/> the investment.<span class="_ _5"/> Impairment<span class="_ _5"/> losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>ersed to the extent the original value is considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recov<span class="_ _5"/>erable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Associated c<span class="_ _5"/>ompanies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:227.171875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 580.523px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Abidjan T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">SA</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Côte d’Ivoire</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 580.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brigantine Services Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.609px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.676px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Congo T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">SA</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 290.824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Congo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Guangzhou South China Oceangat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.1406px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 581.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Itapoa </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminais Portuarios S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Kanoo </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Services L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 243.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Saudi Arabia</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Meridian Port Servic</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ghana</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pelabuhan </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anjung P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elepas Sdn. Bhd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Malaysia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.197px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao Qianwan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> United Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Salalah Port</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Services Company SAOG</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.225px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Oman</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Asia Gatewa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Pvt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Sri Lanka</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 577.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Tianjin Port </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Alliance In</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ternational Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20%</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _5"/> profit/loss in associat<span class="_ _5"/>ed companies and joint ven-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _5"/>gnised net of <span class="_ _5"/>tax and corrected f<span class="_ _5"/>or <span class="_ _5"/>the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _5"/>a-group g<span class="_ _5"/>ains and losses. <span class="_ _5"/>The item also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _5"/>t losses for<span class="_ _5"/> such inv<span class="_ _5"/>estments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _5"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised as Maersk’<span class="_ _5"/>s share of <span class="_ _5"/>the equity v<span class="_ _5"/>alue in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">clusive of goodwill less an<span class="_ _5"/>y impairment<span class="_ _5"/> losses. Goodwil<span class="_ _5"/>l is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an inte<span class="_ _5"/>gral part<span class="_ _5"/> of the v<span class="_ _5"/>alue of associated companies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">joint <span class="_ _5"/>ventures and is <span class="_ _5"/>theref<span class="_ _5"/>ore subject <span class="_ _5"/>to an impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test <span class="_ _5"/>together<span class="_ _5"/> with<span class="_ _5"/> the investment.<span class="_ _5"/> Impairment<span class="_ _5"/> losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>ersed to the extent the original value is considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recov<span class="_ _5"/>erable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _5"/> profit/loss in associat<span class="_ _5"/>ed companies and joint ven-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _5"/>gnised net of <span class="_ _5"/>tax and corrected f<span class="_ _5"/>or <span class="_ _5"/>the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _5"/>a-group g<span class="_ _5"/>ains and losses. <span class="_ _5"/>The item also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _5"/>t losses for<span class="_ _5"/> such inv<span class="_ _5"/>estments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _5"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised as Maersk’<span class="_ _5"/>s share of <span class="_ _5"/>the equity v<span class="_ _5"/>alue in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">clusive of goodwill less an<span class="_ _5"/>y impairment<span class="_ _5"/> losses. Goodwil<span class="_ _5"/>l is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an inte<span class="_ _5"/>gral part<span class="_ _5"/> of the v<span class="_ _5"/>alue of associated companies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">joint <span class="_ _5"/>ventures and is <span class="_ _5"/>theref<span class="_ _5"/>ore subject <span class="_ _5"/>to an impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test <span class="_ _5"/>together<span class="_ _5"/> with<span class="_ _5"/> the investment.<span class="_ _5"/> Impairment<span class="_ _5"/> losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _5"/>ersed to the extent the original value is considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recov<span class="_ _5"/>erable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _5"/> instruments,<span class="_ _5"/> etc., including shar<span class="_ _5"/>es,<span class="_ _5"/> bonds and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">similar<span class="_ _5"/> securities, ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised on the <span class="_ _5"/>trading date a<span class="_ _5"/>t fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> and subsequently<span class="_ _5"/> measured at<span class="_ _5"/> the quoted mark<span class="_ _5"/>et </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">price for<span class="_ _5"/> listed securities and at<span class="_ _5"/> estimated fair<span class="_ _5"/> v<span class="_ _5"/>alue for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-listed securities.<span class="_ _5"/> Fair<span class="_ _5"/> <span class="_ _5"/>value adjustments fr<span class="_ _5"/>om equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue through other<span class="_ _5"/> compr<span class="_ _5"/>ehensive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income (FVOCI) r<span class="_ _5"/>emain in equity upon disposal.<span class="_ _5"/> Dividends </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Inventories mainl<span class="_ _5"/>y consist<span class="_ _5"/> of bunker<span class="_ _0"/>, spare parts not<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> property<span class="_ _5"/>,<span class="_ _5"/> plant<span class="_ _5"/> and equipment and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consumables.<span class="_ _5"/> Inventories ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost and net<span class="_ _5"/> realisable v<span class="_ _5"/>alue,<span class="_ _5"/> primarily accor<span class="_ _5"/>ding to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FIFO method.<span class="_ _5"/> The cost<span class="_ _5"/> of finished goods and work in pr<span class="_ _5"/>o-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gress includes dir<span class="_ _5"/>ect and indir<span class="_ _5"/>ect production<span class="_ _5"/> costs.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Inventories mainl<span class="_ _5"/>y consist<span class="_ _5"/> of bunker<span class="_ _0"/>, spare parts not<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> property<span class="_ _5"/>,<span class="_ _5"/> plant<span class="_ _5"/> and equipment and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consumables.<span class="_ _5"/> Inventories ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost and net<span class="_ _5"/> realisable v<span class="_ _5"/>alue,<span class="_ _5"/> primarily accor<span class="_ _5"/>ding to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FIFO method.<span class="_ _5"/> The cost<span class="_ _5"/> of finished goods and work in pr<span class="_ _5"/>o-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gress includes dir<span class="_ _5"/>ect and indir<span class="_ _5"/>ect production<span class="_ _5"/> costs.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loans and r<span class="_ _5"/>eceivables are initial<span class="_ _5"/>ly r<span class="_ _5"/>ecognised at<span class="_ _5"/> fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> plus any<span class="_ _5"/> direct <span class="_ _5"/>transaction<span class="_ _5"/> costs, and subsequen<span class="_ _5"/>tly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _5"/> loans and other<span class="_ _5"/> rec<span class="_ _5"/>eivables,<span class="_ _5"/> write-downs ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _5"/> expected losses based on specific individual or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _5"/>. For<span class="_ _5"/> <span class="_ _5"/>trade r<span class="_ _5"/>eceivables,<span class="_ _5"/> the loss allo<span class="_ _5"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _5"/> the simplified appr<span class="_ _5"/>oach according </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _5"/>, applying a<span class="_ _5"/> provision matrix <span class="_ _5"/>to calculate <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _5"/>. <span class="_ _5"/>The provision<span class="_ _5"/> matrix includes an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment f<span class="_ _5"/>or non-due r<span class="_ _5"/>eceivables.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loans and r<span class="_ _5"/>eceivables are initial<span class="_ _5"/>ly r<span class="_ _5"/>ecognised at<span class="_ _5"/> fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> plus any<span class="_ _5"/> direct <span class="_ _5"/>transaction<span class="_ _5"/> costs, and subsequen<span class="_ _5"/>tly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _5"/> loans and other<span class="_ _5"/> rec<span class="_ _5"/>eivables,<span class="_ _5"/> write-downs ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _5"/> expected losses based on specific individual or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _5"/>. For<span class="_ _5"/> <span class="_ _5"/>trade r<span class="_ _5"/>eceivables,<span class="_ _5"/> the loss allo<span class="_ _5"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _5"/> the simplified appr<span class="_ _5"/>oach according </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _5"/>, applying a<span class="_ _5"/> provision matrix <span class="_ _5"/>to calculate <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _5"/>. <span class="_ _5"/>The provision<span class="_ _5"/> matrix includes an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment f<span class="_ _5"/>or non-due r<span class="_ _5"/>eceivables.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loans and r<span class="_ _5"/>eceivables are initial<span class="_ _5"/>ly r<span class="_ _5"/>ecognised at<span class="_ _5"/> fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> plus any<span class="_ _5"/> direct <span class="_ _5"/>transaction<span class="_ _5"/> costs, and subsequen<span class="_ _5"/>tly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _5"/> loans and other<span class="_ _5"/> rec<span class="_ _5"/>eivables,<span class="_ _5"/> write-downs ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _5"/> expected losses based on specific individual or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _5"/>. For<span class="_ _5"/> <span class="_ _5"/>trade r<span class="_ _5"/>eceivables,<span class="_ _5"/> the loss allo<span class="_ _5"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _5"/> the simplified appr<span class="_ _5"/>oach according </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _5"/>, applying a<span class="_ _5"/> provision matrix <span class="_ _5"/>to calculate <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _5"/>. <span class="_ _5"/>The provision<span class="_ _5"/> matrix includes an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment f<span class="_ _5"/>or non-due r<span class="_ _5"/>eceivables.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contract</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 382.721px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,497</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act asset</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">176</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act liability </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">748</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">568</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ade receivables in<span class="_ _5"/> the balance sheet include ac<span class="_ _5"/>crued income and contract<span class="_ _5"/> assets comprising unbilled amounts <span class="_ _5"/>to cus-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tomers repr<span class="_ _5"/>esenting the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s right t<span class="_ _5"/>o consideration<span class="_ _5"/> for<span class="_ _5"/> services tr<span class="_ _5"/>ansferred <span class="_ _5"/>to date<span class="_ _5"/>. <span class="_ _5"/>All deferr<span class="_ _5"/>ed income is reco<span class="_ _5"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement within<span class="_ _5"/> 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _5"/> the payment<span class="_ _5"/> terms gener<span class="_ _5"/>all<span class="_ _5"/>y applicable t<span class="_ _5"/>o the Group<span class="_ _5"/>’s r<span class="_ _5"/>evenue-gener<span class="_ _5"/>ating activities,<span class="_ _5"/> prepayments ar<span class="_ _5"/>e receiv<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _5"/>to a limited e<span class="_ _5"/>xtent. <span class="_ _5"/>T<span class="_ _5"/>ypically<span class="_ _0"/>, payment is due upon<span class="_ _5"/> or aft<span class="_ _5"/>er completion<span class="_ _5"/> of the services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _5"/>the deferred inc<span class="_ _5"/>ome presented in <span class="_ _5"/>the balance sheet constitut<span class="_ _5"/>es contract<span class="_ _5"/> liabilities which r<span class="_ _5"/>epresent adv<span class="_ _5"/>ance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in excess of r<span class="_ _5"/>evenue r<span class="_ _5"/>ecognised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _5"/>, <span class="_ _5"/>the 2023 contract<span class="_ _5"/> liabilities previousl<span class="_ _5"/>y offset<span class="_ _5"/> against <span class="_ _5"/>trade r<span class="_ _5"/>eceivables wer<span class="_ _5"/>e restated and pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _5"/>e 4.5 financial instruments and risks r<span class="_ _5"/>elate t<span class="_ _5"/>o receivables arising fr<span class="_ _5"/>om contr<span class="_ _5"/>acts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with customers.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loans and r<span class="_ _5"/>eceivables are initial<span class="_ _5"/>ly r<span class="_ _5"/>ecognised at<span class="_ _5"/> fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _5"/> plus any<span class="_ _5"/> direct <span class="_ _5"/>transaction<span class="_ _5"/> costs, and subsequen<span class="_ _5"/>tly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _5"/> loans and other<span class="_ _5"/> rec<span class="_ _5"/>eivables,<span class="_ _5"/> write-downs ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _5"/> expected losses based on specific individual or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _5"/>. For<span class="_ _5"/> <span class="_ _5"/>trade r<span class="_ _5"/>eceivables,<span class="_ _5"/> the loss allo<span class="_ _5"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _5"/> the simplified appr<span class="_ _5"/>oach according </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _5"/>, applying a<span class="_ _5"/> provision matrix <span class="_ _5"/>to calculate <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _5"/>. <span class="_ _5"/>The provision<span class="_ _5"/> matrix includes an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment f<span class="_ _5"/>or non-due r<span class="_ _5"/>eceivables.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 1.2 <span class="_ _5e"> </span> <span class="_"> </span>Significant ac<span class="_ _5"/>counting estima<span class="_ _5"/>tes and judgemen<span class="_ _5"/>ts</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The prepar<span class="_ _5"/>ation of <span class="_ _5"/>the consolidated financial statements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">requir<span class="_ _5"/>es Management <span class="_ _5"/>to make estima<span class="_ _5"/>tes and judgements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on an ongoing basis,<span class="_ _5"/> and t<span class="_ _5"/>o form assumptions tha<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">affect <span class="_ _5"/>the reported amoun<span class="_ _5"/>ts. Manag<span class="_ _5"/>ement forms its es-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">timates and judgements based on<span class="_ _5"/> historical experience,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">independent advice<span class="_ _5"/>, ext<span class="_ _5"/>ernal data points as well as on<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in-house specialists and other<span class="_ _5"/> factors believed <span class="_ _5"/>to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonable under <span class="_ _5"/>the circumstances<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>In its assumption setting, Management<span class="_ _5"/> deals with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">various aspects of uncertainty<span class="_ _5"/>.<span class="_ _5"/> One aspect o<span class="_ _5"/>f uncertainty </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is the assessment<span class="_ _5"/> of control o<span class="_ _5"/>ver<span class="_ _5"/> investments classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as associates,<span class="_ _5"/> joint <span class="_ _5"/>ventur<span class="_ _5"/>es and subsidiaries, <span class="_ _5"/>where the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assessment f<span class="_ _5"/>orms the basis for<span class="_ _5"/> classification.<span class="_ _5"/> Another<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">aspect is measur<span class="_ _5"/>ement uncertainty<span class="_ _5"/>,<span class="_ _5"/> wher<span class="_ _5"/>e Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">makes assumptions <span class="_ _5"/>that derive <span class="_ _5"/>the v<span class="_ _5"/>alue of recognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets and liabilities.<span class="_ _5"/> These assumptions concern<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">timing and amount of future cash flows as <span class="_ _5"/>well as the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">risks inherent<span class="_ _5"/> in these<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In certain ar<span class="_ _5"/>eas, <span class="_ _5"/>the outcome of business plans,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing negotiations <span class="_ _5"/>with external parties <span class="_ _5"/>to execute </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">those plans or<span class="_ _5"/> the outcome of ne<span class="_ _5"/>gotiations to settle<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">claims that<span class="_ _5"/> are r<span class="_ _5"/>aised against Maersk,<span class="_ _5"/> is highly<span class="_ _5"/> uncertain. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Theref<span class="_ _5"/>ore,<span class="_ _5"/> assumptions may chang<span class="_ _5"/>e, or<span class="_ _5"/> <span class="_ _5"/>the outcome may </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differ<span class="_ _5"/> in the coming <span class="_ _5"/>years,<span class="_ _5"/> which could r<span class="_ _5"/>equire a mat<span class="_ _5"/>erial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upwar<span class="_ _5"/>d or do<span class="_ _5"/>wnward adjustmen<span class="_ _5"/>t t<span class="_ _5"/>o the carrying amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of assets and liabilities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The ar<span class="_ _5"/>eas and their<span class="_ _5"/> related impact<span class="_ _5"/> in which Maersk is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">particularly e<span class="_ _5"/>xposed to mat<span class="_ _5"/>erial uncertainty over<span class="_ _5"/> <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amounts as at the end of 202<span class="_ _5"/>4 are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual notes as outlined below:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:219.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 524.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Key</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> accounting estimates and judgements</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Estimate /</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 0.0136718px; width: 33.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impact</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 471.969px; top: 12.0137px; width: 54.3223px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Judgement</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 513.697px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 2.2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vessel sharing agr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eements (cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-sharing arrangements) estima</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tes</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Estimate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.3574px; width: 525.287px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 2.2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EU Emissions T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ading System</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (ETS) classification determination</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Judgement</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 86.0293px; width: 525.158px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 3.1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-generating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> determination</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Judgement</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.701px; width: 513.592px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 3.1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Impairment testing k</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey assumptions </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Estimate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.373px; width: 513.814px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 3.2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Useful life and residual v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue estimates</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Estimate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.045px; width: 513.92px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 3.7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Provisions for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> legal disputes as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sumptions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.836px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Estimate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 184.717px; width: 513.574px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 5.1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Recognition and measurement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax assets and uncertain </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax positions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Estimat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.389px; width: 524.848px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Note 5.5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.2324px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Operations in countries with</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> limited access t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o repatriating surplus cash assumptions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Judgement</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level of pot<span class="_ _5"/>ential impact on <span class="_ _5"/>the consolidated financial statements:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Low</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Medium</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">High</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essel-sharing agreements (cost<span class="_ _5"/>-sharing arr<span class="_ _5"/>angements)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essel-sharing agreements in shipping r<span class="_ _5"/>equire <span class="_ _5"/>that some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vessels are committ<span class="_ _5"/>ed tow<span class="_ _5"/>ards specific service r<span class="_ _5"/>outes.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The committed v<span class="_ _5"/>essel’<span class="_ _5"/>s capacity is <span class="_ _5"/>then shared <span class="_ _5"/>with one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> more container<span class="_ _5"/> shipping pro<span class="_ _5"/>viders in proportion <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each party’<span class="_ _5"/>s contribution t<span class="_ _5"/>o the joint servic<span class="_ _5"/>e. In pr<span class="_ _5"/>actice,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it is not<span class="_ _5"/> always possible <span class="_ _5"/>to pr<span class="_ _5"/>ovide tonnage pr<span class="_ _5"/>ecisely<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreed in <span class="_ _5"/>the sharing arrang<span class="_ _5"/>ements, <span class="_ _5"/>theref<span class="_ _5"/>ore financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement oft<span class="_ _5"/>en tak<span class="_ _5"/>es place on the basis of r<span class="_ _5"/>elative </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity ov<span class="_ _5"/>er/<span class="_ _5"/>under<span class="_ _5"/>-utilised on a monthly<span class="_ _5"/> basis or other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mutually<span class="_ _5"/> agreed cycle<span class="_ _5"/>. <span class="_ _5"/>At<span class="_ _5"/> Maersk, <span class="_ _5"/>these capacity adjust<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments are settled as close <span class="_ _5"/>to actual costs incurred as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">possible based on market<span class="_ _5"/> r<span class="_ _5"/>ates applicable at <span class="_ _5"/>that <span class="_ _5"/>time.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EU Emissions T<span class="_ _5"/>r<span class="_ _5"/>ading Syst<span class="_ _5"/>em (ETS) classification </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determination</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 1 <span class="_ _5"/>January 202<span class="_ _5"/>4 onwar<span class="_ _5"/>ds, Maersk is subject<span class="_ _5"/> to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">new EU ETS<span class="_ _5"/>, a cap-and-<span class="_ _5"/>tr<span class="_ _5"/>ade system <span class="_ _5"/>to reduce emissions<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">via a carbon mark<span class="_ _5"/>et. Implementa<span class="_ _5"/>tion of EU ETS requir<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk to pur<span class="_ _5"/>chase EU allowanc<span class="_ _5"/>es (EUAs) repr<span class="_ _5"/>esenting the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right <span class="_ _5"/>to emit a specific amount<span class="_ _5"/> of greenhouse g<span class="_ _5"/>ases (GHG). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Maersk has purchased EUAs either<span class="_ _5"/> as spot or<span class="_ _5"/> future<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _5"/>acts. EU<span class="_ _5"/>A futur<span class="_ _5"/>es are financial instruments with<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">delivery in Dec<span class="_ _5"/>ember of <span class="_ _5"/>the same year<span class="_ _0"/>, and the<span class="_ _5"/>y satisfy<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the conditions for<span class="_ _5"/> the <span class="_ _0"/>‘o<span class="_ _5"/>wn use’<span class="_ _5"/> ex<span class="_ _5"/>emption and are off- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet items<span class="_ _5"/>. EU<span class="_ _5"/>A spot<span class="_ _5"/> contracts ar<span class="_ _5"/>e classified <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as other<span class="_ _5"/> current<span class="_ _5"/> assets upon delivery of certifica<span class="_ _5"/>tes.<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">They ar<span class="_ _5"/>e measured at<span class="_ _5"/> cost of settlement<span class="_ _5"/> and are not<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">subject <span class="_ _5"/>to remeasur<span class="_ _5"/>ement until surr<span class="_ _5"/>ender<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The cost </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes all costs of pur<span class="_ _5"/>chase, costs of c<span class="_ _5"/>onversion and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> directly<span class="_ _5"/> attributable costs such as tr<span class="_ _5"/>ansaction </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs.<span class="_ _5"/> For<span class="_ _5"/> more information on<span class="_ _5"/> the EUAs r<span class="_ _5"/>ecognised r<span class="_ _5"/>efer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to note 3<span class="_ _5"/>.5 T<span class="_ _0"/>erm deposits and other<span class="_ _5"/> receivables<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The accrual is r<span class="_ _5"/>ecognised as fuel is burnt in<span class="_ _5"/> Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">applicable shipping activities,<span class="_ _5"/> measured at<span class="_ _5"/> expected cost </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> the r<span class="_ _5"/>equired EUAs<span class="_ _5"/>, based on actual emissions and<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the price of the EU<span class="_ _5"/>As, <span class="_ _5"/>which is calculated as a weigh<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">aver<span class="_ _5"/>age price of EUA<span class="_ _5"/> spots and futures<span class="_ _5"/>. <span class="_ _5"/>The corresponding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is pr<span class="_ _5"/>esented as bunk<span class="_ _5"/>er cost.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _5"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _5"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _5"/> the determination of cash-<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units to which<span class="_ _5"/> goodwill is allocat<span class="_ _5"/>ed for<span class="_ _5"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>testing and in the selection<span class="_ _5"/> of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _5"/>tests.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The determination<span class="_ _5"/> of cash-generating units diff<span class="_ _5"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _5"/>ea. Ocean<span class="_ _5"/> operat<span class="_ _5"/>es its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessels and hub <span class="_ _5"/>terminals in an int<span class="_ _5"/>egra<span class="_ _5"/>ted net-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">work. Consequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the Ocean activities ar<span class="_ _5"/>e tested f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment as a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Logistics &amp; Services, including first<span class="_ _5"/>-mile activities,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> Management<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _5"/>gistics &amp; Services products as an inte<span class="_ _5"/>grat<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _5"/>with the activities <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _5"/>ating unit. In <span class="_ _5"/>T<span class="_ _0"/>erminals, each <span class="_ _5"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is considered an individual cash-g<span class="_ _5"/>enerating unit<span class="_ _5"/> for<span class="_ _5"/> im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _5"/>tests,<span class="_ _5"/> except <span class="_ _5"/>when the capacity<span class="_ _5"/> is managed as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Unallocated items consists of sever<span class="_ _5"/>al individual busi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nesses,<span class="_ _5"/> including Maersk Container<span class="_ _5"/> Industry<span class="_ _5"/>, <span class="_ _5"/>which are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each considered one cash-g<span class="_ _5"/>enerating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _5"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _5"/>erable amount<span class="_ _5"/> of each cash-gener<span class="_ _5"/>ating unit is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determined based on <span class="_ _5"/>the higher of its <span class="_ _5"/>value in use and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. <span class="_ _5"/>The estimated v<span class="_ _5"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _5"/>ey assumptions f<span class="_ _5"/>or <span class="_ _5"/>the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _5"/> flows and applied discount f<span class="_ _5"/>actor<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Current mark<span class="_ _5"/>et v<span class="_ _5"/>alues for<span class="_ _5"/> vessels<span class="_ _5"/>, etc.,<span class="_ _5"/> are estima<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _5"/>ers.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The cash flow projections ar<span class="_ _5"/>e based on financial budgets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and business plans.<span class="_ _5"/> In nature<span class="_ _5"/>, <span class="_ _5"/>these projections are subject<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to judgement<span class="_ _5"/> and estimates that<span class="_ _5"/> are uncertain,<span class="_ _5"/> though </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on experience and external sour<span class="_ _5"/>ces wher<span class="_ _5"/>e available.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Centr<span class="_ _5"/>alised processes and invol<span class="_ _5"/>vement of corpor<span class="_ _5"/>ate func<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions ensure <span class="_ _5"/>that indices and data sour<span class="_ _5"/>ces are select<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consistently<span class="_ _5"/> while observing differ<span class="_ _5"/>ences in risks and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circumstances<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The discount<span class="_ _5"/> rat<span class="_ _5"/>es applied reflect <span class="_ _5"/>the time <span class="_ _5"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _5"/>well as the specific risks r<span class="_ _5"/>elated <span class="_ _5"/>to the under<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _5"/>, i.e<span class="_ _5"/>. pr<span class="_ _5"/>oject and/<span class="_ _5"/>or<span class="_ _5"/> country<span class="_ _5"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _5"/> Further<span class="_ _0"/>, any uncertain<span class="_ _5"/>ties reflecting past per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _5"/>variations in <span class="_ _5"/>the amount or<span class="_ _5"/> timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _5"/>ojected cash flows ar<span class="_ _5"/>e general<span class="_ _5"/>ly r<span class="_ _5"/>eflected in <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _5"/> tests is subject<span class="_ _5"/> to estimat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _5"/>e development<span class="_ _5"/> of freight r<span class="_ _5"/>ates and <span class="_ _5"/>volumes,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _5"/> ra<span class="_ _5"/>tes applied. Manag<span class="_ _5"/>ement </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _5"/>ey as<span class="_ _5"/>sumptions by considering past<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _5"/>l as market anal<span class="_ _5"/>ysis and future expec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _5"/> and demand tr<span class="_ _5"/>ends. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Further<span class="_ _0"/>, the <span class="_ _5"/>value in use calculation<span class="_ _5"/> is sensitive to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ate and <span class="_ _5"/>the terminal gr<span class="_ _5"/>owth r<span class="_ _5"/>ate.<span class="_ _5"/> V<span class="_ _5"/>alue in<span class="_ _5"/> use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _5"/>the expected future economic<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth r<span class="_ _5"/>ate and r<span class="_ _5"/>eplacement CAPEX during <span class="_ _5"/>the terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, <span class="_ _5"/>which is based on Management’<span class="_ _5"/>s plans and ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pectations for <span class="_ _5"/>the future.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The futur<span class="_ _5"/>e development in<span class="_ _5"/> freight r<span class="_ _5"/>ates is a significan<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _5"/> impacting the <span class="ff2 ws0">Ocean<span class="ff3"> segment in particular<span class="_ _5"/> and is </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _5"/>egional and global economic envir<span class="_ _5"/>onments, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _5"/>tterns,<span class="_ _5"/> and by industry<span class="_ _5"/>-specific tr<span class="_ _5"/>ends in respect<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _5"/>y and demand.<span class="_ _5"/> Freight r<span class="_ _5"/>ates con<span class="_ _5"/>tinued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to increase <span class="_ _5"/>throughout<span class="_ _5"/> the first hal<span class="_ _5"/>f of 2024 as a r<span class="_ _5"/>esult of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Red Sea situation.<span class="_ _5"/> The r<span class="_ _5"/>ates peak<span class="_ _5"/>ed in Q3 2024<span class="_ _5"/>, <span class="_ _5"/>then </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">partially<span class="_ _5"/> normalised and stabilised with supply<span class="_ _5"/> catching up.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The future de<span class="_ _5"/>velopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _5"/>actor<span class="_ _5"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across Maersk,<span class="_ _5"/> either<span class="_ _5"/> directly<span class="_ _5"/> on the bunk<span class="_ _5"/>er<span class="_ _5"/> oil price,<span class="_ _5"/> green </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel and its availability<span class="_ _5"/>,<span class="_ _5"/> or<span class="_ _5"/> indirectl<span class="_ _5"/>y thr<span class="_ _5"/>ough its impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on market<span class="_ _5"/> freight<span class="_ _5"/> rat<span class="_ _5"/>es charged <span class="_ _5"/>to customers.<span class="_ _5"/> Bunker<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">con <span class="_ _9"/>sumption increased thr<span class="_ _5"/>oughout 2024 <span class="_ _5"/>with re-r<span class="_ _5"/>outing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">south of Cape of Good Hope caused by<span class="_ _5"/> the situation in<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Red Sea/Gulf of <span class="_ _5"/>Aden.<span class="_ _5"/> However<span class="_ _0"/>, consumption is expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline in 2025<span class="_ _5"/>, driven<span class="_ _5"/> by fleet<span class="_ _5"/> outsourcing,<span class="_ _5"/> efficiency </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">improv<span class="_ _5"/>ements and the commencement<span class="_ _5"/> of Gemini Coop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eration from F<span class="_ _5"/>ebruary 2025.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span class="ff2 lse">Logistics &amp; Services<span class="ff3"> is impacted by<span class="_ _5"/> ra<span class="_ _5"/>tes and volumes </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _5"/>the Logistics &amp; Services product<span class="_ _5"/> lines,<span class="_ _5"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the <span class="_ _5"/>Air<span class="_ _5"/> and W<span class="_ _5"/>arehousing business<span class="_ _5"/>. <span class="_ _5"/>The future gr<span class="_ _5"/>owth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and productivity<span class="_ _5"/> of the Fulfil<span class="_ _5"/>led by Maersk pr<span class="_ _5"/>oduct r<span class="_ _5"/>ange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also considered a k<span class="_ _5"/>ey<span class="_ _5"/> assumption as volumes ar<span class="_ _5"/>e sensi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tive t<span class="_ _5"/>o the development<span class="_ _5"/> of the global economy<span class="_ _0"/>. Manage-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment considers <span class="_ _5"/>the future economic outlook and expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _5"/>om completed acquisitions when<span class="_ _5"/> determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _5"/>oductivity of F<span class="_ _5"/>ulfilled by<span class="_ _5"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals<span class="ff3 ws10"> located in oil-producing countries<span class="_ _5"/>, e.g.<span class="_ _5"/> Nigeria </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Brazil,<span class="_ _5"/> are indir<span class="_ _5"/>ectly<span class="_ _5"/> impacted by the de<span class="_ _5"/>velopment in oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prices and the consequences for<span class="_ _5"/> the respectiv<span class="_ _5"/>e countries’<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">economies,<span class="_ _5"/> which not onl<span class="_ _5"/>y affects volumes handled at<span class="_ _5"/> the <span class="_ _0"/><span class="ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminals,<span class="_ _5"/> but also for<span class="_ _5"/>eign exchange r<span class="_ _5"/>ates<span class="_ _5"/>. Continued eco<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic deterior<span class="_ _5"/>ation and a lack of cash r<span class="_ _5"/>epatriation opportu<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nities in certain oil-pr<span class="_ _5"/>oducing countries could also put pr<span class="_ _5"/>es<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure on the carrying amounts o<span class="_ _5"/>f individual terminals.<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reper<span class="_ _5"/>cussions of uncertainty in tr<span class="_ _5"/>ade policies and tariffs,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stemming from<span class="_ _5"/> geopolitical tensions,<span class="_ _5"/> may impact<span class="_ _5"/> port r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a few str<span class="_ _5"/>ate<span class="_ _5"/>gic regions.<span class="_ _5"/> The other<span class="_ _5"/> key<span class="_ _5"/> sensitivities impact<span class="_ _5"/><span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing T<span class="_ _0"/>erminals include container<span class="_ _5"/> moves,<span class="_ _5"/> rev<span class="_ _5"/>enue and cost per<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _5"/> and local port r<span class="_ _5"/>ates,<span class="_ _5"/> all of which<span class="_ _5"/> are impacted by<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">local economic outlook and competition,<span class="_ _5"/> as well as con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cession right e<span class="_ _5"/>xtensions and the discount r<span class="_ _5"/>ate applied.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inflation is also expect<span class="_ _5"/>ed to continue <span class="_ _5"/>to have a<span class="_ _5"/> high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _5"/>oss Maersk in 2025,<span class="_ _5"/> impacting both the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">count r<span class="_ _5"/>ate and <span class="_ _5"/>terminal growth<span class="_ _5"/> rat<span class="_ _5"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– results of<span class="_ _5"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="ff2">Ocean</span> cash flow projection<span class="_ _5"/> is based on the for<span class="_ _5"/>ecast </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _5"/> Q3 2024,<span class="_ _5"/> covering <span class="_ _5"/>the five-y<span class="_ _5"/>ear business plan<span class="_ _5"/> for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2025-29.<span class="_ _5"/> Management<span class="_ _5"/> applied an assumption of gro<span class="_ _5"/>wth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _5"/> a calculated t<span class="_ _5"/>erminal value <span class="_ _5"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _5"/>to 2.<span class="_ _0"/>1% (2.7%) p.a.<span class="_ _5"/> In the annual impairmen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _5"/> in November<span class="_ _5"/> 2024<span class="_ _5"/>, a pr<span class="_ _5"/>e-<span class="_ _5"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te of 9.3% (9<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> was applied.<span class="_ _5"/> The impairmen<span class="_ _5"/>t t<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was carried out c<span class="_ _5"/>onsidering Management’<span class="_ _5"/>s planned fleet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">renew<span class="_ _5"/>al progr<span class="_ _5"/>amme running until 2030<span class="_ _5"/>. <span class="_ _5"/>The impairment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test show<span class="_ _5"/>ed headroom between <span class="_ _5"/>the v<span class="_ _5"/>alue in use and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _5"/> The major<span class="_ _5"/> part of <span class="_ _5"/>the carrying amount is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _5"/>. Managemen<span class="_ _5"/>t is of the opinion<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s most significan<span class="_ _5"/>t goodwill componen<span class="_ _5"/>t relat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="ff2 ws0">Logistics &amp; Services<span class="ff3"> segment.<span class="_ _5"/> The annual impair<span class="_ _5"/>-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>test is based on <span class="_ _5"/>the estimated <span class="_ _5"/>value in use from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the five-<span class="_ _5"/>year<span class="_ _5"/> business plan for<span class="_ _5"/> 2025-29,<span class="_ _5"/> wher<span class="_ _5"/>e the v<span class="_ _5"/>ol<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ume and improv<span class="_ _5"/>ed margin gro<span class="_ _5"/>wth assumptions,<span class="_ _5"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>egion- <span class="_ _9"/>specific, r<span class="_ _5"/>eflect <span class="_ _5"/>the current e<span class="_ _5"/>xpectations for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the relev<span class="_ _5"/>ant period.<span class="_ _5"/> The applied <span class="_ _5"/>terminal gro<span class="_ _5"/>wth is 2.<span class="_ _5"/>1%<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(2.<span class="_ _5"/>7%). <span class="_ _5"/>A discoun<span class="_ _5"/>t r<span class="_ _5"/>ate of 8<span class="_ _5"/>.9% (9<span class="_ _5"/>.0%) p.a.<span class="_ _5"/> before <span class="_ _5"/>tax or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">8.<span class="_ _5"/>7% (8<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> after<span class="_ _5"/> tax was applied.<span class="_ _5"/> <span class="_ _5"/>The impairment <span class="_ _5"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> from <span class="_ _5"/>the value in use <span class="_ _5"/>to the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount.<span class="_ _5"/> Management is of <span class="_ _5"/>the opinion that<span class="_ _5"/> the assump-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> In <span class="_ _222"/><span class="ff2 ls0 ws0">T<span class="_ _5"/>erminals<span class="ff3">,<span class="_ _5"/> Management<span class="_ _5"/> assesses indicators of </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _5"/>easing volumes and based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _5"/> estimates <span class="_ _5"/>the recover<span class="_ _5"/>able amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual terminals <span class="_ _5"/>whereby<span class="_ _5"/> impairment indicators </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exist.<span class="_ _5"/> Management also <span class="_ _5"/>tests for<span class="_ _5"/> impairment of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _5"/>ating units (CGUs) to <span class="_ _5"/>which goodwill or<span class="_ _5"/> indef-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inite life intangible assets ar<span class="_ _5"/>e allocated.<span class="_ _5"/> <span class="_ _5"/>The cash flow </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">projections for<span class="_ _5"/> each <span class="_ _5"/>terminal cover<span class="_ _5"/> <span class="_ _5"/>the concession period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and extension options deemed lik<span class="_ _5"/>ely <span class="_ _5"/>to be exer<span class="_ _5"/>cised, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latter<span class="_ _5"/> of which is expect<span class="_ _5"/>ed to hav<span class="_ _5"/>e positive impact on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">replacement<span class="_ _5"/> volumes<span class="_ _5"/>. <span class="_ _5"/>The growth r<span class="_ _5"/>ates r<span class="_ _5"/>eflect curr<span class="_ _5"/>ent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> expectations for<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> period, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates applied ar<span class="_ _5"/>e between 7<span class="_ _0"/>.2% and 12.0% (7<span class="_ _0"/>.4% </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 12.<span class="_ _0"/>1%) p.a. after<span class="_ _5"/> tax.<span class="_ _5"/> <span class="_ _5"/>The impairment t<span class="_ _5"/>ests considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of disposal compar<span class="_ _5"/>ed to <span class="_ _5"/>the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount and r<span class="_ _5"/>esulted in impairmen<span class="_ _5"/>t losses on assets of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _5"/> across <span class="_ _5"/>two terminals amounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 42m in 202<span class="_ _5"/>4 (impairment losses of USD<span class="_ _5"/> 134m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across mul<span class="_ _5"/>tiple terminals in 2023<span class="_ _5"/>,<span class="_ _5"/> of which USD 94m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed to a CGU in<span class="_ _5"/> the Mediterr<span class="_ _5"/>anean), r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 3.2 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t. <span class="_ _5"/>The fair<span class="_ _5"/> v<span class="_ _5"/>alues of indi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vidual terminals ar<span class="_ _5"/>e measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disposal, <span class="_ _5"/>where the perspectiv<span class="_ _5"/>e of a potential buyer<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed. <span class="_ _5"/>The v<span class="_ _5"/>aluations (fair<span class="_ _5"/> v<span class="_ _5"/>alue level 3) are pr<span class="_ _5"/>epared </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by discoun<span class="_ _5"/>ting expected cash inflows and outflows f<span class="_ _5"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the period until concession end.<span class="_ _5"/> This includes e<span class="_ _5"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession extensions<span class="_ _5"/>, and costs and benefits r<span class="_ _5"/>elated <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restructuring and impr<span class="_ _5"/>ovement<span class="_ _5"/> projects that<span class="_ _5"/> a potential </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">buyer<span class="_ _5"/> can be assumed t<span class="_ _5"/>o undertake in or<span class="_ _5"/>der <span class="_ _5"/>to extr<span class="_ _5"/>act <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">best v<span class="_ _5"/>alue from the terminal.<span class="_ _5"/> Individual <span class="_ _8"/>country-specific </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates ar<span class="_ _5"/>e applied.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _5"/> ra<span class="_ _5"/>te as of 31 December<span class="_ _5"/> 2024 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _5"/>l other assumptions constan<span class="_ _5"/>t, <span class="_ _5"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> of USD 4.<span class="_ _0"/>1bn (USD 3.<span class="_ _5"/>9bn) between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue in use and the carrying amount.<span class="_ _5"/> The f<span class="_ _5"/>ollowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in assumptions r<span class="_ _5"/>eflect the r<span class="_ _5"/>elated impact<span class="_ _5"/> on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value in use and <span class="_ _5"/>thus the headr<span class="_ _5"/>oom for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are pr<span class="_ _5"/>epared with al<span class="_ _5"/>l other<span class="_ _5"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept<span class="_ _5"/> constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 570.123px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey Ocean CGU assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Change</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Effect on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value in use</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 570.111px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Growth in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal period</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.0bn</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate p.a. bef</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ore tax as of 31 Dec</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ember 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9.9%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.7bn</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful life and residual <span class="_ _5"/>values</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful lives are estima<span class="_ _5"/>ted annually<span class="_ _5"/> based on experience.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset’<span class="_ _5"/>s useful life changes,<span class="_ _5"/> Management<span class="_ _5"/> revises </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the estimates for<span class="_ _5"/> individual assets or<span class="_ _5"/> groups of as<span class="_ _5"/>sets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">similar<span class="_ _5"/> characteristics due <span class="_ _5"/>to factors such<span class="_ _5"/> as quality of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">maintenance and r<span class="_ _5"/>epair<span class="_ _5"/>,<span class="_ _5"/> technical de<span class="_ _5"/>velopment, or<span class="_ _5"/> envir<span class="_ _5"/>on-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mental requir<span class="_ _5"/>ements.<span class="_ _5"/> Management has also consider<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the impact of decarbonisation and clima<span class="_ _5"/>te- <span class="_ _9"/>related risks on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the useful lives of existing assets.<span class="_ _5"/> Such risks include new </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _5"/>elated legislation r<span class="_ _5"/>estricting the use of certain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets,<span class="_ _5"/> new technolo<span class="_ _5"/>gy demanded by climat<span class="_ _5"/>e- <span class="_ _9"/>related leg-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">islation and the incr<span class="_ _5"/>ease in rest<span class="_ _5"/>oration<span class="_ _5"/> costs for<span class="_ _5"/> terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sites due t<span class="_ _5"/>o new and/<span class="_ _5"/>or mor<span class="_ _5"/>e comprehensiv<span class="_ _5"/>e policies. <span class="_ _5"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">useful lives of v<span class="_ _5"/>essels and related assets <span class="_ _5"/>that oper<span class="_ _5"/>ate on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bunker<span class="_ _5"/> fuel have been<span class="_ _5"/> considered in conjunction <span class="_ _5"/>with the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net<span class="_ _5"/>-zer<span class="_ _5"/>o by 2040 <span class="_ _5"/>target.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Residual v<span class="_ _5"/>alues of vessels ar<span class="_ _5"/>e difficult <span class="_ _5"/>to estimate given<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _5"/> long useful lives,<span class="_ _5"/> the uncertainty<span class="_ _5"/> of future economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions,<span class="_ _5"/> the mark<span class="_ _5"/>et for<span class="_ _5"/> conven<span class="_ _5"/>tional fuel vessels and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the uncertainty of futur<span class="_ _5"/>e steel prices,<span class="_ _5"/> which is consider<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the main determinant<span class="_ _5"/> of the r<span class="_ _5"/>esidual value.<span class="_ _5"/> <span class="_ _5"/>Additionally<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the acceler<span class="_ _5"/>ation of development<span class="_ _5"/> of vessels <span class="_ _5"/>with a lower<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carbon footprint<span class="_ _5"/> may gener<span class="_ _5"/>ate down<span class="_ _5"/>ward pr<span class="_ _5"/>essure on <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> for<span class="_ _5"/> second-hand conventional fuel <span class="_ _5"/>vessels.<span class="_ _5"/> Gener-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ally<span class="_ _5"/>,<span class="_ _5"/> the r<span class="_ _5"/>esidual v<span class="_ _5"/>alues of vessels ar<span class="_ _5"/>e initially<span class="_ _5"/> estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at 10% of <span class="_ _5"/>the purchase price ex<span class="_ _5"/>cluding dry-docking costs.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions for<span class="_ _5"/> leg<span class="_ _5"/>al disputes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management’<span class="_ _5"/>s estimate of <span class="_ _5"/>the provisions for<span class="_ _5"/> leg<span class="_ _5"/>al dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">putes,<span class="_ _5"/> including disputes re<span class="_ _5"/>garding <span class="_ _5"/>taxes and duties,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the knowledg<span class="_ _5"/>e available on <span class="_ _5"/>the substance of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cases and a legal assessmen<span class="_ _5"/>t of these<span class="_ _5"/>. <span class="_ _5"/>The resolution </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of legal disputes <span class="_ _5"/>through either<span class="_ _5"/> neg<span class="_ _5"/>otiations or litig<span class="_ _5"/>ation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">can tak<span class="_ _5"/>e sever<span class="_ _5"/>al years <span class="_ _5"/>to be reached and <span class="_ _5"/>the outcomes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _5"/> to consider<span class="_ _5"/>able uncertainty<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement has been<span class="_ _5"/> applied with respect<span class="_ _5"/> to Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability <span class="_ _5"/>to utilise deferr<span class="_ _5"/>ed tax assets.<span class="_ _5"/> Management c<span class="_ _5"/>on-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">siders the lik<span class="_ _5"/>elihood of utilisation based on <span class="_ _5"/>the latest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business plans and the r<span class="_ _5"/>ecent financial perf<span class="_ _5"/>ormances of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual entities.<span class="_ _5"/> Net deferr<span class="_ _5"/>ed tax assets r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in entities having r<span class="_ _5"/>ecognised an accounting loss in<span class="_ _5"/> either </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the current<span class="_ _5"/> or<span class="_ _5"/> preceding period amount<span class="_ _5"/> to USD 18<span class="_ _5"/>1m (USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">156m). <span class="_ _5"/>These assets mainly<span class="_ _5"/> relate <span class="_ _5"/>to unused tax los<span class="_ _5"/>ses </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> deductible tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences gener<span class="_ _5"/>ated during </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the construction of t<span class="_ _5"/>erminals, <span class="_ _5"/>where taxable pr<span class="_ _5"/>ofits have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been gener<span class="_ _5"/>ated either<span class="_ _5"/> in the curr<span class="_ _5"/>ent period or<span class="_ _5"/> ar<span class="_ _5"/>e ex-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected t<span class="_ _5"/>o be generat<span class="_ _5"/>ed within the f<span class="_ _5"/>oreseeable futur<span class="_ _5"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Uncertain tax positions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk is engaged in a number<span class="_ _5"/> of disputes <span class="_ _5"/>with tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">authorities of v<span class="_ _5"/>arying scope. <span class="_ _5"/>Appropria<span class="_ _5"/>te provisions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnition of uncertain tax positions ha<span class="_ _5"/>ve been made </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _5"/>the probability o<span class="_ _5"/>f the tax position being upheld </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in individual cases is considered less <span class="_ _5"/>than 50%.<span class="_ _5"/> Claims </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> which <span class="_ _5"/>the probability of Maersk’<span class="_ _5"/>s <span class="_ _5"/>tax position being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upheld is assessed by Manag<span class="_ _5"/>ement t<span class="_ _5"/>o be at least<span class="_ _5"/> 50%, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> provided for<span class="_ _0"/>. Such risks ar<span class="_ _5"/>e instead ev<span class="_ _5"/>aluated on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio basis by<span class="_ _5"/> geogr<span class="_ _5"/>aphical area and coun<span class="_ _5"/>try risk.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions and uncertain<span class="_ _5"/> tax liabilities are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the aggr<span class="_ _5"/>egat<span class="_ _5"/>ed probability of <span class="_ _5"/>the tax position being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upheld is considered less <span class="_ _5"/>than 50%.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Operations in coun<span class="_ _5"/>tries with limited access t<span class="_ _5"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriating surplus cash</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk opera<span class="_ _5"/>tes worldwide and,<span class="_ _5"/> in this r<span class="_ _5"/>espect, has </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opera<span class="_ _5"/>tions in countries where <span class="_ _5"/>the ability <span class="_ _5"/>to repatria<span class="_ _5"/>te </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">surplus cash is complicated and <span class="_ _5"/>time consuming. In<span class="_ _5"/> these </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries,<span class="_ _5"/> Management mak<span class="_ _5"/>es judgements as <span class="_ _5"/>to whether<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these cash positions can be r<span class="_ _5"/>ecognised as cash and cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equivalents.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:273.4375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.449219px; width: 51.2695px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 9px; font-family: ff1c; -webkit-text-stroke: 0.135px rgba(0, 0, 0, 0);"><span style="display: inline-block;">SBM-1 §40b</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 0.0136718px; width: 333.785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ypes of revenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eight re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">venue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,684</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,421</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 39.5762px; width: 140.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> revenue, including hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 39.5762px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4,704</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,232</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 330.172px; top: 54.3359px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 330px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.572px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Managed by</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Maersk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 54.4668px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,167</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,182</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 324.422px; top: 69.2422px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 69.3574px; width: 89.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fulfilled b</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y Maersk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 69.3574px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,735</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,238</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 342.656px; top: 84.1328px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 84.248px; width: 107.918px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansported by Maersk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 84.248px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">7,018</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,496</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.94px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,465</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,844</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 113.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 311.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated activities and eliminations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">wage services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 114.045px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">304</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">839</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 128.936px; width: 333.492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sale of containers and spar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e parts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.5312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">490</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">496</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 350.344px; top: 143.695px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 143.826px; width: 114.85px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Offshore suppl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 485.797px; top: 143.826px; width: 83.5078px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">111</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 349.266px; top: 158.602px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 158.717px; width: 113.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> shipping activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 158.717px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">263</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 173.607px; width: 333.785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">537</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">451</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 188.498px; width: 333.545px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated activities and eliminations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,735</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,508</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.389px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.53px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hereof reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised over</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> time</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 321.82px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52,308</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47,569</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.061px; width: 570.094px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hereof reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised at a point</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> in time</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 291.926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,909</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,004</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.951px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated activities and elimina</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 271.582px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,735</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,508</span></span></span>1 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _24"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws2b">Of which </span>USD 1.5bn (USD 1.5bn) r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>elates to Maersk Ener<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>gy Markets r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>evenue from <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>third-party<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> customers. SBM-<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>1 §40d-i<span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The 2023 ‘b<span class="_ _5"/>y Maersk’<span class="_ _5"/> r<span class="_ _5"/>evenue figures hav<span class="_ _5"/>e been restated in or<span class="_ _5"/>der <span class="_ _5"/>to reflect<span class="_ _5"/> changes within <span class="_ _5"/>the Logistics &amp; Services model definition.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Revenue from Svitz<span class="_ _5"/>er<span class="_ _5"/>, US Marine Manag<span class="_ _5"/>ement and Maersk Supply<span class="_ _5"/> Service is included in T<span class="_ _0"/>owage,<span class="_ _5"/> Other shipping activities and Offshor<span class="_ _5"/>e supply </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services,<span class="_ _5"/> respectively<span class="_ _5"/>,<span class="_ _5"/> until divestment/<span class="_ _5"/>demerger<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:124.515625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Revenue fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">acts with customers</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 54,562 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49,997</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 490.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Revenue from other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sources</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.154px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essel-sharing and slot charter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 797 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">938</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Others</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 442.425px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">114</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.53px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Set out<span class="_ _5"/> above is the r<span class="_ _5"/>econciliation of <span class="_ _5"/>the revenue fr<span class="_ _5"/>om contr<span class="_ _5"/>acts with customers <span class="_ _5"/>to the amounts disclosed as <span class="_ _5"/>total re<span class="_ _5"/>venue.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contract</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 382.721px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,497</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act asset</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">176</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act liability </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">748</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">568</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ade receivables in<span class="_ _5"/> the balance sheet include ac<span class="_ _5"/>crued income and contract<span class="_ _5"/> assets comprising unbilled amounts <span class="_ _5"/>to cus-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tomers repr<span class="_ _5"/>esenting the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s right t<span class="_ _5"/>o consideration<span class="_ _5"/> for<span class="_ _5"/> services tr<span class="_ _5"/>ansferred <span class="_ _5"/>to date<span class="_ _5"/>. <span class="_ _5"/>All deferr<span class="_ _5"/>ed income is reco<span class="_ _5"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement within<span class="_ _5"/> 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _5"/> the payment<span class="_ _5"/> terms gener<span class="_ _5"/>all<span class="_ _5"/>y applicable t<span class="_ _5"/>o the Group<span class="_ _5"/>’s r<span class="_ _5"/>evenue-gener<span class="_ _5"/>ating activities,<span class="_ _5"/> prepayments ar<span class="_ _5"/>e receiv<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _5"/>to a limited e<span class="_ _5"/>xtent. <span class="_ _5"/>T<span class="_ _5"/>ypically<span class="_ _0"/>, payment is due upon<span class="_ _5"/> or aft<span class="_ _5"/>er completion<span class="_ _5"/> of the services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _5"/>the deferred inc<span class="_ _5"/>ome presented in <span class="_ _5"/>the balance sheet constitut<span class="_ _5"/>es contract<span class="_ _5"/> liabilities which r<span class="_ _5"/>epresent adv<span class="_ _5"/>ance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in excess of r<span class="_ _5"/>evenue r<span class="_ _5"/>ecognised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _5"/>, <span class="_ _5"/>the 2023 contract<span class="_ _5"/> liabilities previousl<span class="_ _5"/>y offset<span class="_ _5"/> against <span class="_ _5"/>trade r<span class="_ _5"/>eceivables wer<span class="_ _5"/>e restated and pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _5"/>e 4.5 financial instruments and risks r<span class="_ _5"/>elate t<span class="_ _5"/>o receivables arising fr<span class="_ _5"/>om contr<span class="_ _5"/>acts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with customers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _5"/>or al<span class="_ _5"/>l businesses is recognised <span class="_ _5"/>when the perfor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _5"/>tisfied, which happens upon<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the customer<span class="_ _5"/> at<span class="_ _5"/> an amount <span class="_ _5"/>that r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _5"/>o which the <span class="_ _8"/>Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _5"/>or<span class="_ _5"/> the goods and services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from shipping activities is r<span class="_ _5"/>ecognised over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _5"/>e obligation is satisfied,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _5"/>evenue fr<span class="_ _5"/>om incomplete v<span class="_ _5"/>oyages at<span class="_ _5"/> the bal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _5"/>e. In<span class="_ _5"/>voiced rev<span class="_ _5"/>enue related <span class="_ _5"/>to an estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _5"/>emaining vo<span class="_ _5"/>yage time and activities a<span class="_ _5"/>t the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _5"/>erred.<span class="_ _5"/> Percen<span class="_ _5"/>tage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _5"/>the number of da<span class="_ _5"/>ys of a vo<span class="_ _5"/>yage as a per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _5"/>the total number<span class="_ _5"/> of days a <span class="_ _5"/>voyag<span class="_ _5"/>e is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _5"/> Detention and demurr<span class="_ _5"/>age fees ar<span class="_ _5"/>e recognised ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _5"/>time of the customer’<span class="_ _5"/>s late r<span class="_ _5"/>eturn or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _5"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>terminal operations and <span class="_ _5"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _5"/>gnised upon completion of the service<span class="_ _5"/>. In con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _5"/> terminals oper<span class="_ _5"/>ated under<span class="_ _5"/> certain r<span class="_ _5"/>estrictive terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _5"/> etc., <span class="_ _5"/>the v<span class="_ _5"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _5"/>the concession gr<span class="_ _5"/>antor<span class="_ _5"/> is reco<span class="_ _5"/>g-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _5"/>enue during the construction.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _5"/>om most fr<span class="_ _5"/>eight forw<span class="_ _5"/>arding activities is r<span class="_ _5"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised over<span class="_ _5"/> time. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>the sale of goods is recognised upon<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the buyer<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No significant element<span class="_ _5"/> of financing is deemed present<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sales are made with<span class="_ _5"/> a credit<span class="_ _5"/> term of 20-45 da<span class="_ _5"/>ys, <span class="_ _5"/>which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _5"/> with market<span class="_ _5"/> practic<span class="_ _5"/>e. Re<span class="_ _5"/>venue from sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on the price specified in <span class="_ _5"/>the contract,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _5"/>the estimated v<span class="_ _5"/>olume discounts.<span class="_ _5"/> Accumulated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _5"/>o estimate and pro<span class="_ _5"/>vide for<span class="_ _5"/> the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _5"/> using the expect<span class="_ _5"/>ed value method,<span class="_ _5"/> and rev<span class="_ _5"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _5"/>ecognised <span class="_ _5"/>to the ext<span class="_ _5"/>ent <span class="_ _5"/>that it is highl<span class="_ _5"/>y probable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _5"/>t re<span class="_ _5"/>versal will not<span class="_ _5"/> occur<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:273.4375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.449219px; width: 51.2695px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 9px; font-family: ff1c; -webkit-text-stroke: 0.135px rgba(0, 0, 0, 0);"><span style="display: inline-block;">SBM-1 §40b</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 0.0136718px; width: 333.785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ypes of revenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eight re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">venue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,684</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,421</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 39.5762px; width: 140.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> revenue, including hubs</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 39.5762px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4,704</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,232</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 330.172px; top: 54.3359px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 330px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.572px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Managed by</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Maersk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 54.4668px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,167</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,182</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 324.422px; top: 69.2422px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 69.3574px; width: 89.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fulfilled b</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y Maersk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 69.3574px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,735</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,238</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 342.656px; top: 84.1328px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 84.248px; width: 107.918px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansported by Maersk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 84.248px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">7,018</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,496</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.94px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,465</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,844</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 113.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 311.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated activities and eliminations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">wage services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 114.045px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">304</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">839</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 128.936px; width: 333.492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sale of containers and spar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e parts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.5312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">490</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">496</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 350.344px; top: 143.695px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 143.826px; width: 114.85px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Offshore suppl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 485.797px; top: 143.826px; width: 83.5078px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">111</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 349.266px; top: 158.602px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 158.717px; width: 113.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> shipping activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 158.717px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">263</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 173.607px; width: 333.785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">537</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">451</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 188.498px; width: 333.545px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated activities and eliminations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,735</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,508</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.389px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.53px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hereof reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised over</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> time</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 321.82px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52,308</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47,569</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.061px; width: 570.094px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hereof reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised at a point</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> in time</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 291.926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,909</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,004</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.951px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated activities and elimina</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 271.582px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,735</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,508</span></span></span>1 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _24"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws2b">Of which </span>USD 1.5bn (USD 1.5bn) r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>elates to Maersk Ener<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>gy Markets r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>evenue from <span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>third-party<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> customers. SBM-<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>1 §40d-i<span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The 2023 ‘b<span class="_ _5"/>y Maersk’<span class="_ _5"/> r<span class="_ _5"/>evenue figures hav<span class="_ _5"/>e been restated in or<span class="_ _5"/>der <span class="_ _5"/>to reflect<span class="_ _5"/> changes within <span class="_ _5"/>the Logistics &amp; Services model definition.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Revenue from Svitz<span class="_ _5"/>er<span class="_ _5"/>, US Marine Manag<span class="_ _5"/>ement and Maersk Supply<span class="_ _5"/> Service is included in T<span class="_ _0"/>owage,<span class="_ _5"/> Other shipping activities and Offshor<span class="_ _5"/>e supply </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services,<span class="_ _5"/> respectively<span class="_ _5"/>,<span class="_ _5"/> until divestment/<span class="_ _5"/>demerger<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:124.515625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Revenue fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">acts with customers</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 54,562 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49,997</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 490.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Revenue from other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sources</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.154px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essel-sharing and slot charter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 797 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">938</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Others</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 442.425px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">114</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.53px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,482</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51,065</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Set out<span class="_ _5"/> above is the r<span class="_ _5"/>econciliation of <span class="_ _5"/>the revenue fr<span class="_ _5"/>om contr<span class="_ _5"/>acts with customers <span class="_ _5"/>to the amounts disclosed as <span class="_ _5"/>total re<span class="_ _5"/>venue.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contract</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 382.721px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,497</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act asset</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">176</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act liability </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">748</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">568</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ade receivables in<span class="_ _5"/> the balance sheet include ac<span class="_ _5"/>crued income and contract<span class="_ _5"/> assets comprising unbilled amounts <span class="_ _5"/>to cus-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tomers repr<span class="_ _5"/>esenting the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s right t<span class="_ _5"/>o consideration<span class="_ _5"/> for<span class="_ _5"/> services tr<span class="_ _5"/>ansferred <span class="_ _5"/>to date<span class="_ _5"/>. <span class="_ _5"/>All deferr<span class="_ _5"/>ed income is reco<span class="_ _5"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement within<span class="_ _5"/> 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _5"/> the payment<span class="_ _5"/> terms gener<span class="_ _5"/>all<span class="_ _5"/>y applicable t<span class="_ _5"/>o the Group<span class="_ _5"/>’s r<span class="_ _5"/>evenue-gener<span class="_ _5"/>ating activities,<span class="_ _5"/> prepayments ar<span class="_ _5"/>e receiv<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _5"/>to a limited e<span class="_ _5"/>xtent. <span class="_ _5"/>T<span class="_ _5"/>ypically<span class="_ _0"/>, payment is due upon<span class="_ _5"/> or aft<span class="_ _5"/>er completion<span class="_ _5"/> of the services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _5"/>the deferred inc<span class="_ _5"/>ome presented in <span class="_ _5"/>the balance sheet constitut<span class="_ _5"/>es contract<span class="_ _5"/> liabilities which r<span class="_ _5"/>epresent adv<span class="_ _5"/>ance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in excess of r<span class="_ _5"/>evenue r<span class="_ _5"/>ecognised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _5"/>, <span class="_ _5"/>the 2023 contract<span class="_ _5"/> liabilities previousl<span class="_ _5"/>y offset<span class="_ _5"/> against <span class="_ _5"/>trade r<span class="_ _5"/>eceivables wer<span class="_ _5"/>e restated and pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _5"/>e 4.5 financial instruments and risks r<span class="_ _5"/>elate t<span class="_ _5"/>o receivables arising fr<span class="_ _5"/>om contr<span class="_ _5"/>acts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with customers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _5"/>or al<span class="_ _5"/>l businesses is recognised <span class="_ _5"/>when the perfor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _5"/>tisfied, which happens upon<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the customer<span class="_ _5"/> at<span class="_ _5"/> an amount <span class="_ _5"/>that r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _5"/>o which the <span class="_ _8"/>Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _5"/>or<span class="_ _5"/> the goods and services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from shipping activities is r<span class="_ _5"/>ecognised over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _5"/>e obligation is satisfied,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _5"/>evenue fr<span class="_ _5"/>om incomplete v<span class="_ _5"/>oyages at<span class="_ _5"/> the bal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _5"/>e. In<span class="_ _5"/>voiced rev<span class="_ _5"/>enue related <span class="_ _5"/>to an estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _5"/>emaining vo<span class="_ _5"/>yage time and activities a<span class="_ _5"/>t the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _5"/>erred.<span class="_ _5"/> Percen<span class="_ _5"/>tage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _5"/>the number of da<span class="_ _5"/>ys of a vo<span class="_ _5"/>yage as a per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _5"/>the total number<span class="_ _5"/> of days a <span class="_ _5"/>voyag<span class="_ _5"/>e is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _5"/> Detention and demurr<span class="_ _5"/>age fees ar<span class="_ _5"/>e recognised ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _5"/>time of the customer’<span class="_ _5"/>s late r<span class="_ _5"/>eturn or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _5"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>terminal operations and <span class="_ _5"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _5"/>gnised upon completion of the service<span class="_ _5"/>. In con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _5"/> terminals oper<span class="_ _5"/>ated under<span class="_ _5"/> certain r<span class="_ _5"/>estrictive terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _5"/> etc., <span class="_ _5"/>the v<span class="_ _5"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _5"/>the concession gr<span class="_ _5"/>antor<span class="_ _5"/> is reco<span class="_ _5"/>g-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _5"/>enue during the construction.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _5"/>om most fr<span class="_ _5"/>eight forw<span class="_ _5"/>arding activities is r<span class="_ _5"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised over<span class="_ _5"/> time. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>the sale of goods is recognised upon<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the buyer<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No significant element<span class="_ _5"/> of financing is deemed present<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sales are made with<span class="_ _5"/> a credit<span class="_ _5"/> term of 20-45 da<span class="_ _5"/>ys, <span class="_ _5"/>which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _5"/> with market<span class="_ _5"/> practic<span class="_ _5"/>e. Re<span class="_ _5"/>venue from sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on the price specified in <span class="_ _5"/>the contract,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _5"/>the estimated v<span class="_ _5"/>olume discounts.<span class="_ _5"/> Accumulated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _5"/>o estimate and pro<span class="_ _5"/>vide for<span class="_ _5"/> the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _5"/> using the expect<span class="_ _5"/>ed value method,<span class="_ _5"/> and rev<span class="_ _5"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _5"/>ecognised <span class="_ _5"/>to the ext<span class="_ _5"/>ent <span class="_ _5"/>that it is highl<span class="_ _5"/>y probable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _5"/>t re<span class="_ _5"/>versal will not<span class="_ _5"/> occur<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contract</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 382.721px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,497</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act asset</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">176</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act liability </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">748</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">568</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ade receivables in<span class="_ _5"/> the balance sheet include ac<span class="_ _5"/>crued income and contract<span class="_ _5"/> assets comprising unbilled amounts <span class="_ _5"/>to cus-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tomers repr<span class="_ _5"/>esenting the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s right t<span class="_ _5"/>o consideration<span class="_ _5"/> for<span class="_ _5"/> services tr<span class="_ _5"/>ansferred <span class="_ _5"/>to date<span class="_ _5"/>. <span class="_ _5"/>All deferr<span class="_ _5"/>ed income is reco<span class="_ _5"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement within<span class="_ _5"/> 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _5"/> the payment<span class="_ _5"/> terms gener<span class="_ _5"/>all<span class="_ _5"/>y applicable t<span class="_ _5"/>o the Group<span class="_ _5"/>’s r<span class="_ _5"/>evenue-gener<span class="_ _5"/>ating activities,<span class="_ _5"/> prepayments ar<span class="_ _5"/>e receiv<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _5"/>to a limited e<span class="_ _5"/>xtent. <span class="_ _5"/>T<span class="_ _5"/>ypically<span class="_ _0"/>, payment is due upon<span class="_ _5"/> or aft<span class="_ _5"/>er completion<span class="_ _5"/> of the services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _5"/>the deferred inc<span class="_ _5"/>ome presented in <span class="_ _5"/>the balance sheet constitut<span class="_ _5"/>es contract<span class="_ _5"/> liabilities which r<span class="_ _5"/>epresent adv<span class="_ _5"/>ance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in excess of r<span class="_ _5"/>evenue r<span class="_ _5"/>ecognised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _5"/>, <span class="_ _5"/>the 2023 contract<span class="_ _5"/> liabilities previousl<span class="_ _5"/>y offset<span class="_ _5"/> against <span class="_ _5"/>trade r<span class="_ _5"/>eceivables wer<span class="_ _5"/>e restated and pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _5"/>e 4.5 financial instruments and risks r<span class="_ _5"/>elate t<span class="_ _5"/>o receivables arising fr<span class="_ _5"/>om contr<span class="_ _5"/>acts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with customers.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _5"/>or al<span class="_ _5"/>l businesses is recognised <span class="_ _5"/>when the perfor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _5"/>tisfied, which happens upon<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the customer<span class="_ _5"/> at<span class="_ _5"/> an amount <span class="_ _5"/>that r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _5"/>o which the <span class="_ _8"/>Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _5"/>or<span class="_ _5"/> the goods and services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from shipping activities is r<span class="_ _5"/>ecognised over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _5"/>e obligation is satisfied,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _5"/>evenue fr<span class="_ _5"/>om incomplete v<span class="_ _5"/>oyages at<span class="_ _5"/> the bal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _5"/>e. In<span class="_ _5"/>voiced rev<span class="_ _5"/>enue related <span class="_ _5"/>to an estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _5"/>emaining vo<span class="_ _5"/>yage time and activities a<span class="_ _5"/>t the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _5"/>erred.<span class="_ _5"/> Percen<span class="_ _5"/>tage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _5"/>the number of da<span class="_ _5"/>ys of a vo<span class="_ _5"/>yage as a per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _5"/>the total number<span class="_ _5"/> of days a <span class="_ _5"/>voyag<span class="_ _5"/>e is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _5"/> Detention and demurr<span class="_ _5"/>age fees ar<span class="_ _5"/>e recognised ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _5"/>time of the customer’<span class="_ _5"/>s late r<span class="_ _5"/>eturn or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _5"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>terminal operations and <span class="_ _5"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _5"/>gnised upon completion of the service<span class="_ _5"/>. In con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _5"/> terminals oper<span class="_ _5"/>ated under<span class="_ _5"/> certain r<span class="_ _5"/>estrictive terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _5"/> etc., <span class="_ _5"/>the v<span class="_ _5"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _5"/>the concession gr<span class="_ _5"/>antor<span class="_ _5"/> is reco<span class="_ _5"/>g-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _5"/>enue during the construction.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _5"/>om most fr<span class="_ _5"/>eight forw<span class="_ _5"/>arding activities is r<span class="_ _5"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised over<span class="_ _5"/> time. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Rev<span class="_ _5"/>enue from <span class="_ _5"/>the sale of goods is recognised upon<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>er o<span class="_ _5"/>f control <span class="_ _5"/>to the buyer<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No significant element<span class="_ _5"/> of financing is deemed present<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sales are made with<span class="_ _5"/> a credit<span class="_ _5"/> term of 20-45 da<span class="_ _5"/>ys, <span class="_ _5"/>which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _5"/> with market<span class="_ _5"/> practic<span class="_ _5"/>e. Re<span class="_ _5"/>venue from sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on the price specified in <span class="_ _5"/>the contract,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _5"/>the estimated v<span class="_ _5"/>olume discounts.<span class="_ _5"/> Accumulated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _5"/>o estimate and pro<span class="_ _5"/>vide for<span class="_ _5"/> the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _5"/> using the expect<span class="_ _5"/>ed value method,<span class="_ _5"/> and rev<span class="_ _5"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _5"/>ecognised <span class="_ _5"/>to the ext<span class="_ _5"/>ent <span class="_ _5"/>that it is highl<span class="_ _5"/>y probable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _5"/>t re<span class="_ _5"/>versal will not<span class="_ _5"/> occur<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.2 <span class="_"> </span>Opera<span class="_ _5"/>ting costs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Costs of goods sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,016</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,999</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bunker</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,076</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,037</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,381</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 68.0762px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intermodal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 384.409px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,108</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Port costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 416.261px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,528</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,261</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 569.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Rent and lease c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">osts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Staff costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 412.928px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,535</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,361</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 431.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,061</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.535px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,375</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41,574</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essel-sharing agreements (cost<span class="_ _5"/>-sharing arr<span class="_ _5"/>angements)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essel-sharing agreements in shipping r<span class="_ _5"/>equire <span class="_ _5"/>that some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vessels are committ<span class="_ _5"/>ed tow<span class="_ _5"/>ards specific service r<span class="_ _5"/>outes.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The committed v<span class="_ _5"/>essel’<span class="_ _5"/>s capacity is <span class="_ _5"/>then shared <span class="_ _5"/>with one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> more container<span class="_ _5"/> shipping pro<span class="_ _5"/>viders in proportion <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each party’<span class="_ _5"/>s contribution t<span class="_ _5"/>o the joint servic<span class="_ _5"/>e. In pr<span class="_ _5"/>actice,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it is not<span class="_ _5"/> always possible <span class="_ _5"/>to pr<span class="_ _5"/>ovide tonnage pr<span class="_ _5"/>ecisely<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreed in <span class="_ _5"/>the sharing arrang<span class="_ _5"/>ements, <span class="_ _5"/>theref<span class="_ _5"/>ore financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement oft<span class="_ _5"/>en tak<span class="_ _5"/>es place on the basis of r<span class="_ _5"/>elative </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity ov<span class="_ _5"/>er/<span class="_ _5"/>under<span class="_ _5"/>-utilised on a monthly<span class="_ _5"/> basis or other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mutually<span class="_ _5"/> agreed cycle<span class="_ _5"/>. <span class="_ _5"/>At<span class="_ _5"/> Maersk, <span class="_ _5"/>these capacity adjust<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments are settled as close <span class="_ _5"/>to actual costs incurred as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">possible based on market<span class="_ _5"/> r<span class="_ _5"/>ates applicable at <span class="_ _5"/>that <span class="_ _5"/>time.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EU Emissions T<span class="_ _5"/>r<span class="_ _5"/>ading Syst<span class="_ _5"/>em (ETS) classification </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determination</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 1 <span class="_ _5"/>January 202<span class="_ _5"/>4 onwar<span class="_ _5"/>ds, Maersk is subject<span class="_ _5"/> to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">new EU ETS<span class="_ _5"/>, a cap-and-<span class="_ _5"/>tr<span class="_ _5"/>ade system <span class="_ _5"/>to reduce emissions<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">via a carbon mark<span class="_ _5"/>et. Implementa<span class="_ _5"/>tion of EU ETS requir<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk to pur<span class="_ _5"/>chase EU allowanc<span class="_ _5"/>es (EUAs) repr<span class="_ _5"/>esenting the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right <span class="_ _5"/>to emit a specific amount<span class="_ _5"/> of greenhouse g<span class="_ _5"/>ases (GHG). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Maersk has purchased EUAs either<span class="_ _5"/> as spot or<span class="_ _5"/> future<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _5"/>acts. EU<span class="_ _5"/>A futur<span class="_ _5"/>es are financial instruments with<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">delivery in Dec<span class="_ _5"/>ember of <span class="_ _5"/>the same year<span class="_ _0"/>, and the<span class="_ _5"/>y satisfy<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the conditions for<span class="_ _5"/> the <span class="_ _0"/>‘o<span class="_ _5"/>wn use’<span class="_ _5"/> ex<span class="_ _5"/>emption and are off- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet items<span class="_ _5"/>. EU<span class="_ _5"/>A spot<span class="_ _5"/> contracts ar<span class="_ _5"/>e classified <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as other<span class="_ _5"/> current<span class="_ _5"/> assets upon delivery of certifica<span class="_ _5"/>tes.<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">They ar<span class="_ _5"/>e measured at<span class="_ _5"/> cost of settlement<span class="_ _5"/> and are not<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">subject <span class="_ _5"/>to remeasur<span class="_ _5"/>ement until surr<span class="_ _5"/>ender<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The cost </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes all costs of pur<span class="_ _5"/>chase, costs of c<span class="_ _5"/>onversion and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> directly<span class="_ _5"/> attributable costs such as tr<span class="_ _5"/>ansaction </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs.<span class="_ _5"/> For<span class="_ _5"/> more information on<span class="_ _5"/> the EUAs r<span class="_ _5"/>ecognised r<span class="_ _5"/>efer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to note 3<span class="_ _5"/>.5 T<span class="_ _0"/>erm deposits and other<span class="_ _5"/> receivables<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The accrual is r<span class="_ _5"/>ecognised as fuel is burnt in<span class="_ _5"/> Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">applicable shipping activities,<span class="_ _5"/> measured at<span class="_ _5"/> expected cost </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> the r<span class="_ _5"/>equired EUAs<span class="_ _5"/>, based on actual emissions and<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the price of the EU<span class="_ _5"/>As, <span class="_ _5"/>which is calculated as a weigh<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">aver<span class="_ _5"/>age price of EUA<span class="_ _5"/> spots and futures<span class="_ _5"/>. <span class="_ _5"/>The corresponding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is pr<span class="_ _5"/>esented as bunk<span class="_ _5"/>er cost.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.2 <span class="_"> </span>Opera<span class="_ _5"/>ting costs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Costs of goods sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,016</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,999</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bunker</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,076</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,037</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,381</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 68.0762px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intermodal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 384.409px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,108</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Port costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 416.261px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,528</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,261</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 569.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Rent and lease c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">osts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Staff costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 412.928px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,535</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,361</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 431.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,061</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.535px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,375</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41,574</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.2 <span class="_"> </span>Opera<span class="_ _5"/>ting costs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Costs of goods sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,016</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,999</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bunker</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,076</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,037</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,381</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 68.0762px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intermodal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 384.409px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,108</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Port costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 416.261px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,528</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,261</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 569.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Rent and lease c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">osts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Staff costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 412.928px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,535</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,361</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 431.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,061</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.535px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,375</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41,574</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.2 <span class="_"> </span>Opera<span class="_ _5"/>ting costs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Costs of goods sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,016</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,999</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bunker</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,076</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,037</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,381</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 68.0762px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intermodal costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 384.409px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,108</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Port costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 416.261px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,528</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,261</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 569.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Rent and lease c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">osts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Staff costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 412.928px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,535</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,361</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 431.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,061</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.535px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,375</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41,574</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.<span class="_ _8"/>3 <span class="_ _57"> </span>Depr<span class="_ _5"/>eciation, amortisation and impairmen<span class="_ _5"/>t losses, net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal depreciation </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,783</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,856</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 387.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal impairment, net </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.439px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation, amortisation and impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,220</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,615</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Depreciation is r<span class="_ _5"/>elated <span class="_ _5"/>to property<span class="_ _5"/>,<span class="_ _5"/> plant<span class="_ _5"/> and equipment of USD 2.<span class="_ _5"/>7bn (USD 2.<span class="_ _5"/>6bn) and to right<span class="_ _5"/>-of-use assets of USD 3<span class="_ _5"/>.<span class="_ _0"/>1bn </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(USD 3<span class="_ _5"/>.3bn). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> T<span class="_ _0"/>otal net impairments ar<span class="_ _5"/>e primarily r<span class="_ _5"/>elated <span class="_ _5"/>to property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t of USD 44m (USD<span class="_ _5"/> 55m) and intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets of USD 1m (USD 322m).<span class="_ _5"/> Refer<span class="_ _5"/> <span class="_ _5"/>to note 3<span class="_ _5"/>.<span class="_ _5"/>1 in<span class="_ _5"/>tangible assets and note 3.2 pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:204.078125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 123.973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Remuneration of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> emplo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">yees</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 14.9043px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ages and salaries</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,513</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,370</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 29.7949px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sever</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ance payments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">128</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.6855px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pension costs, defined benefit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 59.5762px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pension costs, defined contribution plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 278.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">315</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">290</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.4668px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> social security costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 350.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">587</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 89.3574px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emuneration</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,618</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,516</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 119.139px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 134.029px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the cost of assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 330.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.92px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Included in restructuring costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 336.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.811px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expensed as staff costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 350.654px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,535</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,361</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.592px; width: 569.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e number of emplo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">yees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.836px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="letter-spacing: 0.000375px; word-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);">104,890</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="letter-spacing: 0.000375px; word-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);">105,909</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Customary agr<span class="_ _5"/>eements have been en<span class="_ _5"/>tered int<span class="_ _5"/>o with employees r<span class="_ _5"/>egarding c<span class="_ _5"/>ompensation in connection with r<span class="_ _5"/>esignation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with consider<span class="_ _5"/>ation for<span class="_ _5"/> local legislation and col<span class="_ _5"/>lective agreements<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> information about<span class="_ _5"/> share-based payments<span class="_ _5"/>, r<span class="_ _5"/>efer<span class="_ _5"/> to note 5<span class="_ _5"/>.2 share-based pa<span class="_ _5"/>yments.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:204.078125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 123.973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Remuneration of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> emplo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">yees</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 14.9043px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ages and salaries</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,513</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,370</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 29.7949px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sever</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ance payments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">128</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.6855px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pension costs, defined benefit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 59.5762px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pension costs, defined contribution plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 278.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">315</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">290</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.4668px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> social security costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 350.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">587</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 89.3574px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emuneration</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,618</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,516</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 119.139px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 134.029px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the cost of assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 330.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.92px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Included in restructuring costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 336.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.811px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expensed as staff costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 350.654px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,535</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,361</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.592px; width: 569.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e number of emplo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">yees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.836px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="letter-spacing: 0.000375px; word-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);">104,890</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="letter-spacing: 0.000375px; word-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);">105,909</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Customary agr<span class="_ _5"/>eements have been en<span class="_ _5"/>tered int<span class="_ _5"/>o with employees r<span class="_ _5"/>egarding c<span class="_ _5"/>ompensation in connection with r<span class="_ _5"/>esignation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with consider<span class="_ _5"/>ation for<span class="_ _5"/> local legislation and col<span class="_ _5"/>lective agreements<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> information about<span class="_ _5"/> share-based payments<span class="_ _5"/>, r<span class="_ _5"/>efer<span class="_ _5"/> to note 5<span class="_ _5"/>.2 share-based pa<span class="_ _5"/>yments.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.3 <span class="_"> </span>Pensions and similar obliga<span class="_ _5"/>tions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:324.140625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 237.375px; top: 0.0136718px; width: 331.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 225.391px; top: 19.1543px; width: 344.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 43.8262px; width: 121.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Specification of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> net liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 58.7168px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Present</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value o</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">f funded plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.8554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,151</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">155</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,306</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,315</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">152</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,467</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.6074px; width: 569.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value of plan assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.695px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,269</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,357</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8496px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,428</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-84</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.2344px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,512</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.498px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net liability</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of funded plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-118</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-51</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">68</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-45</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.389px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Present</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value o</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">f unfunded plans</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">98</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">98</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">97</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">97</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.279px; width: 136.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impact of minimum funding </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.279px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">requir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ement/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">asset ceiling</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.17px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net liability</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.875px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">165</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">54</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-94</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">165</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 174.951px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 189.842px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pensions, net assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.338px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">125</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 204.732px; width: 569.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pensions and similar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> obligations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.172px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">191</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 254.936px; width: 204.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 274.076px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Significant financial assumptions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.764px; width: 570.053px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 291.926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.5%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.3281px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.5%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.5%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 313.654px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inflation r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.799px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.2%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.3281px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.3%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As employer<span class="_ _0"/>, the Gr<span class="_ _5"/>oup participates in pension plans accor<span class="_ _5"/>ding to normal pr<span class="_ _5"/>actice in <span class="_ _5"/>the countries in which <span class="_ _5"/>the Group </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opera<span class="_ _5"/>tes.<span class="_ _5"/> Generall<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>the pension plans within <span class="_ _5"/>the Group ar<span class="_ _5"/>e defined contribution plans,<span class="_ _5"/> where con<span class="_ _5"/>tributions are rec<span class="_ _5"/>og<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised in the income sta<span class="_ _5"/>tement on an<span class="_ _5"/> accrual basis. <span class="_ _5"/>A<span class="_ _5"/> number of en<span class="_ _5"/>tities have defined benefit plans<span class="_ _5"/>, in <span class="_ _5"/>which retir<span class="_ _5"/>ement </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">benefits are based on length<span class="_ _5"/> of service and salary level.<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>o a limit<span class="_ _5"/>ed extent,<span class="_ _5"/> these defined benefit<span class="_ _5"/> plans also include </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payment o<span class="_ _5"/>f medical expenses, et<span class="_ _5"/>c.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2025,<span class="_ _5"/> the Gr<span class="_ _5"/>oup expects t<span class="_ _5"/>o pay contributions <span class="_ _5"/>totalling USD 7<span class="_ _5"/>m (USD<span class="_ _5"/> 17m) <span class="_ _5"/>to funded defined benefit plans.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">82% of the Gr<span class="_ _5"/>oup’s defined bene<span class="_ _5"/>fit liabilities are in<span class="_ _5"/> the UK. <span class="_ _5"/>All of <span class="_ _5"/>the plans in the UK ar<span class="_ _5"/>e funded. <span class="_ _5"/>Although al<span class="_ _5"/>l of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">UK plans are now closed <span class="_ _5"/>to new entr<span class="_ _5"/>ants,<span class="_ _5"/> active members in the <span class="_ _5"/>two largest<span class="_ _5"/> plans continue t<span class="_ _5"/>o accrue new benefits.<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _8"/>smaller<span class="_ _5"/> UK plans are al<span class="_ _5"/>l closed to new accruals<span class="_ _5"/>, al<span class="_ _5"/>though a salary link r<span class="_ _5"/>emains in some of the plans.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Over<span class="_ _5"/>all, <span class="_ _5"/>the plans have an av<span class="_ _5"/>erage dur<span class="_ _5"/>ation of 11 <span class="_ _5"/>years,<span class="_ _5"/> and approximat<span class="_ _5"/>ely 60% of <span class="_ _5"/>the obligation is r<span class="_ _5"/>elated t<span class="_ _5"/>o pensioner </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">members.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As well as being subject<span class="_ _5"/> to <span class="_ _5"/>the risks of falling in<span class="_ _5"/>terest<span class="_ _5"/> rates<span class="_ _5"/>, <span class="_ _5"/>which would increase <span class="_ _5"/>the obligation,<span class="_ _5"/> poor as<span class="_ _5"/>set returns<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and pensioners living longer<span class="_ _5"/> than anticipa<span class="_ _5"/>ted, <span class="_ _5"/>the Group is also subject<span class="_ _5"/> to <span class="_ _5"/>the risk of higher-<span class="_ _5"/>than-expected inflation.<span class="_ _5"/> This </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is because many pension<span class="_ _5"/> benefits, particularl<span class="_ _5"/>y in <span class="_ _5"/>the UK plans, incr<span class="_ _5"/>ease in line with inflation<span class="_ _5"/> although some minimum and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">maximum limits apply<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 414.562px; top: 0.0136718px; width: 63.2871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.449px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Life expectancy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2044</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2043</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">65-y</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ear-old male in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21.8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23.5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21.7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23.3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">65-y</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ear-old female in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> the UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24.2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25.9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24.1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25.8</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivity of <span class="_ _5"/>the liabilities and pension costs to <span class="_ _5"/>the ke<span class="_ _5"/>y assumptions are as f<span class="_ _5"/>ollows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:84.109375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 103.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Increase</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Decrease</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 4.2793px; width: 197.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sensitivities for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ke</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y assumptions in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the UK</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 19.1699px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fact</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ors</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 320.467px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">‘Chang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e in liability’</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 43.8418px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.578px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Increase/(decr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ease) by 25 basis poin</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 58.7324px; width: 569.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inflation r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.574px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Increase/(decr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ease) by 25 basis points</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.623px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Life expectancy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Increase</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/(decrease) by</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> one year</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-43</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:143.65625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 237.703px; top: 0.0136718px; width: 331.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">UK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 19.1543px; width: 569.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Specification of plan assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.1642px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 43.8262px; width: 571.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Insurance c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontracts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">935</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">991</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,036</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">54</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,090 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 58.7168px; width: 572.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Shares</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.857px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 26 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.6074px; width: 572.215px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Government</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">201</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">205</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">224</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 228 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.498px; width: 572.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Corpora</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">60</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 70 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.389px; width: 572.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Real estate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 191.367px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.279px; width: 572.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.578px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">72</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 87 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 133.17px; width: 572.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,269</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,357</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,428</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">84</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,512 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Rates of lif<span class="_ _5"/>e expectancy r<span class="_ _5"/>eflect the most<span class="_ _5"/> recen<span class="_ _5"/>t mortality inv<span class="_ _5"/>estigations,<span class="_ _5"/> and in line with mark<span class="_ _5"/>et pr<span class="_ _5"/>actice an allow<span class="_ _5"/>ance is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _5"/> future impr<span class="_ _5"/>ovements in lif<span class="_ _5"/>e expectancy<span class="_ _5"/>. <span class="_ _5"/>The Group as<span class="_ _5"/>sumes that futur<span class="_ _5"/>e improv<span class="_ _5"/>ements will be in line <span class="_ _5"/>with the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latest projections of 1.25% f<span class="_ _5"/>or al<span class="_ _5"/>l UK plans.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The liabilities ar<span class="_ _5"/>e calculated using assumptions that<span class="_ _5"/> are <span class="_ _5"/>the Group’<span class="_ _5"/>s best estimat<span class="_ _5"/>e of future experience bearing in mind </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the requir<span class="_ _5"/>ements of IAS 19.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The Group’s plans ar<span class="_ _5"/>e funded in accor<span class="_ _5"/>dance with applicable local legislation.<span class="_ _5"/> In the UK,<span class="_ _5"/> each plan has a <span class="_ _5"/>T<span class="_ _5"/>rustee Boar<span class="_ _5"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that is r<span class="_ _5"/>equired <span class="_ _5"/>to act in <span class="_ _5"/>the best inter<span class="_ _5"/>ests of plan members.<span class="_ _5"/> Every<span class="_ _5"/> thr<span class="_ _5"/>ee years,<span class="_ _5"/> a formal <span class="_ _5"/>valuation o<span class="_ _5"/>f the plan’<span class="_ _5"/>s liabilities is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carried out using a prudent<span class="_ _5"/> basis,<span class="_ _5"/> and if the plan is in deficit,<span class="_ _5"/> the <span class="_ _5"/>T<span class="_ _5"/>rustees agr<span class="_ _5"/>ee with <span class="_ _5"/>the Group or<span class="_ _5"/> the sponsoring employ<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a plan for<span class="_ _5"/> r<span class="_ _5"/>ecovering tha<span class="_ _5"/>t deficit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Ar<span class="_ _5"/>ound 80% of the UK liabilities ar<span class="_ _5"/>e now covered b<span class="_ _5"/>y insur<span class="_ _5"/>ance policies. <span class="_ _5"/>Ther<span class="_ _5"/>efore,<span class="_ _5"/> movemen<span class="_ _5"/>t in the liabilities due <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change in assumptions would equal<span class="_ _5"/>ly impact<span class="_ _5"/> the assets <span class="_ _5"/>value rela<span class="_ _5"/>ted to <span class="_ _5"/>the buy-in<span class="_ _5"/> policies, r<span class="_ _5"/>esulting in a r<span class="_ _5"/>educed move<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in <span class="_ _5"/>the over<span class="_ _5"/>all balance sheet<span class="_ _5"/> position.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No contributions t<span class="_ _5"/>o the UK plans are e<span class="_ _5"/>xpected for<span class="_ _5"/> 2025.<span class="_ _5"/> <span class="_ _5"/>The contributions to <span class="_ _5"/>the UK plans for<span class="_ _5"/> 2024 wer<span class="_ _5"/>e expected <span class="_ _5"/>to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 12m which <span class="_ _5"/>were all in<span class="_ _5"/> respect o<span class="_ _5"/>f deficit reco<span class="_ _5"/>very contributions<span class="_ _5"/>, <span class="_ _5"/>though only USD<span class="_ _5"/> 4m was actuall<span class="_ _5"/>y paid.<span class="_ _5"/> In most of<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the UK plans,<span class="_ _5"/> any surplus r<span class="_ _5"/>emaining after<span class="_ _5"/> the last member<span class="_ _5"/> dies may<span class="_ _5"/> be returned <span class="_ _5"/>to the Gr<span class="_ _5"/>oup. Ho<span class="_ _5"/>wever<span class="_ _0"/>, the Mer<span class="_ _5"/>chant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Navy R<span class="_ _5"/>atings Pension Fund (MNRPF),<span class="_ _5"/> and the Mer<span class="_ _5"/>chant Navy<span class="_ _5"/> Officers Pension Fund (MNOPF) con<span class="_ _5"/>tributions paid by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group <span class="_ _8"/>are not ref<span class="_ _8"/>undab<span class="_ _8"/>le i<span class="_ _8"/>n any circumstance and the balance sheet<span class="_ _5"/> liability r<span class="_ _5"/>eflects an adjustment f<span class="_ _5"/>or any<span class="_ _5"/> agreed deficit<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recov<span class="_ _5"/>ery contributions in ex<span class="_ _5"/>cess of deficit determined using <span class="_ _5"/>the Group’<span class="_ _5"/>s assumptions.<span class="_ _5"/> In 2024<span class="_ _5"/>, an adjustmen<span class="_ _5"/>t of USD 3m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(USD 11m) was applied in<span class="_ _5"/> this respect.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Other<span class="_ _5"/> than <span class="_ _5"/>the insuranc<span class="_ _5"/>e contracts and a smal<span class="_ _5"/>l proportion of other<span class="_ _5"/> holdings,<span class="_ _5"/> the plan<span class="_ _5"/> assets held by <span class="_ _5"/>the Group are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">quoted investments<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:351.796875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 278.438px; top: 0.0136718px; width: 38.2969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Present</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 333.609px; top: 0.0136718px; width: 47.209px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.484px; top: 0.0136718px; width: 34.0605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjust</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 0.0136718px; width: 19.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 525.484px; top: 0.0136718px; width: 44.2266px; white-space: pre; word-spacing: -0.105px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 277.016px; top: 12.0137px; width: 40.3184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 345.734px; top: 12.0137px; width: 35.5898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of plan </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 411.734px; top: 12.0137px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 470.75px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 556.266px; top: 12.0137px; width: 13.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">UK</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.0137px; width: 101.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in net liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 263.141px; top: 24.0137px; width: 52.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">obligations</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 349.266px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.7012px; width: 569.701px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,564</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-94</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.498px; width: 569.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> service costs, administra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion costs, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1815px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.3887px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Calculated int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpense/income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">68</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.279px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.1134px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 131.529px; width: 202.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Return on plan assets, e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xcluding amounts </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.529px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">included in inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.523px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-118</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">118</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">124</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.17px; width: 186.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Actuarial gains/losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> changes in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 171.17px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">demogr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aphic assumptions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 180.217px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 186.061px; width: 186.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Actuarial gains/losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> changes in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 198.061px; width: 102.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial assumptions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 290.062px; top: 197.326px; width: 278.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-135</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.217px; width: 569.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Experience adjustments </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 227.857px; width: 178.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustments for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> unreco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised assets </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.857px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">due to asset</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ceiling</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.523px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.748px; width: 569.572px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> comprehensiv</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e income in 2024</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 49.8221px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-118</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-25</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 281.748px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contributions from </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Group and employ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.5196px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.639px; width: 572.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Benefit paymen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.844px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 310.779px; width: 571.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Settlements</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.129px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 326.42px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 341.311px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.121px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,404</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,357</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">54</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-111</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:366.6875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 278.234px; top: 0.0136718px; width: 38.2969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Present</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 333.047px; top: 0.0136718px; width: 47.209px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.781px; top: 0.0136718px; width: 34.0605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjust</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.531px; top: 0.0136718px; width: 19.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 525.656px; top: 0.0136718px; width: 44.2266px; white-space: pre; word-spacing: -0.105px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 276.016px; top: 12.0137px; width: 40.3184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 345.688px; top: 12.0137px; width: 35.5898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of plan </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 412.438px; top: 12.0137px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 471.844px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 556.344px; top: 12.0137px; width: 13.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">UK</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.0137px; width: 101.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in net liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 261.609px; top: 24.0137px; width: 52.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">obligations</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 348.719px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 569.484px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,875</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,884</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-121</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.498px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> service costs, administra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion costs, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1815px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.373px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Calculated int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpense/income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">83</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.264px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.8554px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">140</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">80</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 131.514px; width: 202.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Return on plan assets, e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xcluding amounts </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.514px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">included in inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.195px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.17px; width: 186.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Actuarial gains/losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> changes in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 171.17px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">demogr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aphic assumptions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-19</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 186.061px; width: 186.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Actuarial gains/losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> changes in </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 198.061px; width: 102.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial assumptions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.297px; top: 197.311px; width: 261.416px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.201px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Experience adjustments </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 227.842px; width: 178.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustments for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> unreco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised assets </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.842px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">due to asset</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ceiling</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.195px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-52</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-52</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-52</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.732px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> comprehensiv</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e income in 2023</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">37</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-52</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 281.732px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Contributions from </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Group and employ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.1642px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.623px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Benefit paymen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.844px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-146</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-140</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 310.764px; width: 58.1016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Settlements</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 57.3906px; top: 311.398px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 291.188px; top: 310.779px; width: 279.094px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 139.578px; top: 326.289px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 326.42px; width: 140.285px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 291.188px; top: 326.42px; width: 278.449px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-250</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-248</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 341.311px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 356.201px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.121px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,564</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-94</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Relates <span class="_ _5"/>to the t<span class="_ _5"/>ermination and settlement <span class="_ _5"/>via insurance of <span class="_ _5"/>the US Maersk Pension Plan. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span><span class="ls5f">I<span class="_ _8"/>n 202<span class="_ _8"/>3,<span class="_ _5"/> the net pension liability of S<span class="_ _5"/>vitzer Gr<span class="_ _5"/>oup classified as held for<span class="_ _5"/> sale was presen<span class="_ _5"/>ted as a single amount under<span class="_ _5"/> presen<span class="_ _5"/>t value o<span class="_ _5"/>f obligations. </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024,<span class="_ _5"/> this pr<span class="_ _5"/>esentation was r<span class="_ _5"/>evised to pr<span class="_ _5"/>operly r<span class="_ _5"/>eflect <span class="_ _5"/>the reduction separ<span class="_ _5"/>ately in<span class="_ _5"/> the present<span class="_ _5"/> value of oblig<span class="_ _5"/>ations, f<span class="_ _5"/>air <span class="_ _5"/>value of plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and adjustments.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Multi-emplo<span class="_ _5"/>yer<span class="_ _5"/> plans</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _5"/> collective agr<span class="_ _5"/>eements, c<span class="_ _5"/>ertain entities in the Gr<span class="_ _5"/>oup participate t<span class="_ _5"/>ogether<span class="_ _5"/> with other<span class="_ _5"/> employers in de<span class="_ _5"/>fined benefit </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pension plans as well as <span class="_ _5"/>welfar<span class="_ _5"/>e/<span class="_ _5"/>medical plans (multi-employer<span class="_ _5"/> plans).<span class="_ _5"/> In general,<span class="_ _5"/> the c<span class="_ _5"/>ontributions to <span class="_ _5"/>the schemes are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on man hours work<span class="_ _5"/>ed or<span class="_ _5"/> cargo <span class="_ _5"/>tonnage handled,<span class="_ _5"/> or a<span class="_ _5"/> combination of these.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>For the defined benefit<span class="_ _5"/> pension plans,<span class="_ _5"/> the Gr<span class="_ _5"/>oup has joint and sev<span class="_ _5"/>eral liabilities <span class="_ _5"/>to fund total obliga<span class="_ _5"/>tions. <span class="_ _5"/>While the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">welfare/<span class="_ _5"/>medical plans are b<span class="_ _5"/>y natur<span class="_ _5"/>e contribution plans funded on a pay<span class="_ _5"/>-as-<span class="_ _5"/>you-go basis.<span class="_ _5"/> The Gr<span class="_ _5"/>oup’<span class="_ _5"/>s contributions to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pension and welf<span class="_ _5"/>are/<span class="_ _5"/>medical plans in 202<span class="_ _5"/>4 are estimated at<span class="_ _5"/> USD 66m (USD 86m) and USD<span class="_ _5"/> 259m (USD 259m),<span class="_ _5"/> respectivel<span class="_ _5"/>y<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The contributions t<span class="_ _5"/>o be paid in 2025 are estimated a<span class="_ _5"/>t USD 72m (USD<span class="_ _5"/> 82m) for<span class="_ _5"/> the pension plans and USD 284m<span class="_ _5"/> (USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">249m) for<span class="_ _5"/> <span class="_ _5"/>the welfar<span class="_ _5"/>e/<span class="_ _5"/>medical plans.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>No r<span class="_ _5"/>eliable basis exists for<span class="_ _5"/> allocation of <span class="_ _5"/>the schemes’<span class="_ _5"/> obliga<span class="_ _5"/>tions and plan assets to individual employ<span class="_ _5"/>er participan<span class="_ _5"/>ts. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> the pension plans wher<span class="_ _5"/>e the Gr<span class="_ _5"/>oup has an inter<span class="_ _5"/>est and ther<span class="_ _5"/>e is a deficit,<span class="_ _5"/> the net oblig<span class="_ _5"/>ations for<span class="_ _5"/> all employers amount<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 182m (USD<span class="_ _5"/> 216m). <span class="_ _5"/>This net obligation<span class="_ _5"/> is based on the most<span class="_ _5"/> recent<span class="_ _5"/> available financial data fr<span class="_ _5"/>om the plan<span class="_ _5"/>’s <span class="_ _5"/>trustees,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">calculated in accor<span class="_ _5"/>dance with <span class="_ _5"/>the rules for<span class="_ _5"/> such actuarial calculation in US GAAP<span class="_ _f"/>. The deficit<span class="_ _5"/> in some of the schemes ma<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">necessitate incr<span class="_ _5"/>eased contributions in the futur<span class="_ _5"/>e.<span class="_ _5"/> W<span class="_ _5"/>elfar<span class="_ _5"/>e/medical plans ar<span class="_ _5"/>e pay<span class="_ _5"/>-as-y<span class="_ _5"/>ou-go and form a part<span class="_ _5"/> of the Group<span class="_ _5"/>’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">US collective bar<span class="_ _5"/>gaining agreements<span class="_ _5"/>. <span class="_ _5"/>They co<span class="_ _5"/>ver<span class="_ _5"/> a limited part of emplo<span class="_ _5"/>yees’<span class="_ _5"/> medical costs as occurr<span class="_ _5"/>ed.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension obligations<span class="ff3"> are <span class="_ _5"/>the net liabilities of defined bene-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fit obligations and <span class="_ _5"/>the dedicated assets adjusted f<span class="_ _5"/>or <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect o<span class="_ _5"/>f minimum funding and asset ceiling r<span class="_ _5"/>equire<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _5"/> Plans with a funding surplus ar<span class="_ _5"/>e presented as net<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets on the balance sheet.<span class="_ _5"/> <span class="_ _5"/>The defined benefit obliga-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions are measur<span class="_ _5"/>ed at <span class="_ _5"/>the present<span class="_ _5"/> value of expect<span class="_ _5"/>ed fu-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ture paymen<span class="_ _5"/>ts to be made in r<span class="_ _5"/>espect of services pr<span class="_ _5"/>o <span class="_ _9"/>vided </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by emplo<span class="_ _5"/>yees up to <span class="_ _5"/>the balance sheet date<span class="_ _5"/>. Plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value.<span class="_ _5"/> The pension<span class="_ _5"/> cost charg<span class="_ _5"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> consists of calculated amounts for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vested benefits and int<span class="_ _5"/>erest in addition<span class="_ _5"/> to settlement<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gains or<span class="_ _5"/> losses,<span class="_ _5"/> etc. In<span class="_ _5"/>terest<span class="_ _5"/> on plan assets is calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the same rat<span class="_ _5"/>es as used for<span class="_ _5"/> discounting the obliga<span class="_ _5"/> <span class="_ _9"/>tions. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Actuarial gains/losses are r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hensive income.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension plans wher<span class="_ _5"/>e Maersk, as part<span class="_ _5"/> of collective <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bargaining agr<span class="_ _5"/>eements,<span class="_ _5"/> participates t<span class="_ _5"/>ogether<span class="_ _5"/> with <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> enterprises – so called multi-emplo<span class="_ _5"/>yer<span class="_ _5"/> plans <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">– are <span class="_ _5"/>treated as other<span class="_ _5"/> pension plans in <span class="_ _5"/>the financial <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">statements.<span class="_ _5"/> Defined benefit<span class="_ _5"/> multi-employer<span class="_ _5"/> plans,<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where sufficient<span class="_ _5"/> information <span class="_ _5"/>to apply<span class="_ _5"/> defined benefit </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting is not a<span class="_ _5"/>vailable,<span class="_ _5"/> are <span class="_ _5"/>treated as defined<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contribution plans.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.2 <span class="_"> </span>Shar<span class="_ _5"/>e-based payments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:188.34375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 275.125px; top: 0.0136718px; width: 59.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 361.422px; top: 0.0136718px; width: 206.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 568.203px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 268.375px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 332.359px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 565.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding performance shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 488.865px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 37.5293px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 88.5137px; width: 263.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,799</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,951</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,750</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.404px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Svitz</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">221</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">414</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">635</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.295px; width: 488.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,048</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,405</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,453</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.076px; width: 491.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.441px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5429px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.967px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 177.857px; width: 488.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The fair<span class="_ _5"/> value per<span class="_ _5"/> performance shar<span class="_ _5"/>e is equal to <span class="_ _5"/>the volume-weight<span class="_ _5"/>ed averag<span class="_ _5"/>e share price on the da<span class="_ _5"/>te of grant,<span class="_ _5"/> i.e.<span class="_ _5"/> 1 April 202<span class="_ _5"/>4, adjust<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> expected dividends during the <span class="_ _5"/>vesting period. <span class="_ _5"/>The fair<span class="_ _5"/> value per<span class="_ _5"/> performance shar<span class="_ _5"/>e is DKK 9,045 (10<span class="_ _5"/>,299) for<span class="_ _5"/> members of the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Executive Board and emplo<span class="_ _5"/>yees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>T<span class="_ _5"/>otal fair<span class="_ _5"/> value is at<span class="_ _5"/> the time of gr<span class="_ _5"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Performance shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 2023<span class="_ _5"/>,<span class="_ _5"/> performance shares ar<span class="_ _5"/>e gran<span class="_ _5"/>ted to members of <span class="_ _5"/>the Executive Board and c<span class="_ _5"/>ertain key<span class="_ _5"/> employees.<span class="_ _5"/> Each perf<span class="_ _5"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance share gr<span class="_ _5"/>anted is a right<span class="_ _5"/> to pot<span class="_ _5"/>entially<span class="_ _5"/> receive an e<span class="_ _5"/>xisting B share of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansfer<span class="_ _5"/> of B shares is contingen<span class="_ _5"/>t upon <span class="_ _5"/>the fulfilment of certain perf<span class="_ _5"/>ormance criteria being met,<span class="_ _5"/> which may<span class="_ _5"/> include, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">but ar<span class="_ _5"/>e not limited <span class="_ _5"/>to return on<span class="_ _5"/> invested capital,<span class="_ _5"/> relative shar<span class="_ _5"/>e performance,<span class="_ _5"/> re<span class="_ _5"/>venue growth and ESG elemen<span class="_ _5"/>ts. <span class="_ _5"/>V<span class="_ _5"/>esting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also con<span class="_ _5"/>tingent upon <span class="_ _5"/>the employee still being emplo<span class="_ _5"/>yed and not under<span class="_ _5"/> notice of t<span class="_ _5"/>ermination when <span class="_ _5"/>three y<span class="_ _5"/>ears have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pass<span class="_ _8"/>ed from the dat<span class="_ _5"/>e of grant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _5"/>e not entitled t<span class="_ _5"/>o any dividends during <span class="_ _5"/>the vesting period.<span class="_ _5"/> Special conditions apply<span class="_ _5"/> regar<span class="_ _5"/>ding illness,<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _5"/>tion as well as changes in<span class="_ _5"/> the company’<span class="_ _5"/>s capital structure<span class="_ _5"/>, etc. <span class="_ _5"/>A part of <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> - Mær<span class="_ _8"/>sk A/S<span class="_ _5"/>’<span class="_ _5"/> tr<span class="_ _5"/>easury </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">B shares wil<span class="_ _5"/>l be used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in c<span class="_ _5"/>onnection with the perf<span class="_ _5"/>ormance shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the performance shar<span class="_ _5"/>es plan is USD 6m (USD 2m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the performance shar<span class="_ _5"/>es as per 31 December<span class="_ _5"/> 202<span class="_ _5"/>4 is 1.8 years (2.3 <span class="_ _5"/>years).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:277.453125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 273.984px; top: 0.0136718px; width: 59.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 360.531px; top: 0.0136718px; width: 206.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 568.828px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 268.375px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.984px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 565.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding restricted shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 488.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,128</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 565.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,468</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,468</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Svitz</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">208</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.9219px; top: 117.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.029px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised and vested</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.672px; top: 118.045px; width: 176.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,363</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.186px; width: 489.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,410</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.826px; width: 488.965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancelled</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.717px; width: 488.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,898</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,922</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 192.498px; width: 488.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,810</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 207.389px; width: 565.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.9219px; top: 222.164px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 222.279px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised and vested</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.672px; top: 222.295px; width: 176.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">941</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,146</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,087</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 236.436px; width: 489.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.076px; width: 488.965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancelled</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 266.967px; width: 488.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,128</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The fair<span class="_ _5"/> value per<span class="_ _5"/> restrict<span class="_ _5"/>ed share unit is equal <span class="_ _5"/>to the <span class="_ _5"/>volume-weighted av<span class="_ _5"/>erage shar<span class="_ _5"/>e price on the date of gr<span class="_ _5"/>ant,<span class="_ _5"/> i.e. 1 <span class="_ _5"/>April 2024 (1 <span class="_ _5"/>April </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023), adjusted f<span class="_ _5"/>or e<span class="_ _5"/>xpected dividends during the vesting period.<span class="_ _5"/> <span class="_ _5"/>The fair <span class="_ _5"/>value per<span class="_ _5"/> restricted shar<span class="_ _5"/>e unit is DKK 8<span class="_ _5"/>,255 (DKK 10,299) for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">employees.<span class="_ _5"/> No restricted shar<span class="_ _5"/>e units were gr<span class="_ _5"/>anted t<span class="_ _5"/>o members of the Executive Boar<span class="_ _5"/>d in 2024 or<span class="_ _5"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>T<span class="_ _5"/>otal fair<span class="_ _5"/> value is at<span class="_ _5"/> the time of gr<span class="_ _5"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>The weighted averag<span class="_ _5"/>e share price at <span class="_ _5"/>the settlement date <span class="_ _5"/>was DKK 9,<span class="_ _5"/>045 (DKK 12,732).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shar<span class="_ _5"/>e units are gr<span class="_ _5"/>anted t<span class="_ _5"/>o members of the Executive Boar<span class="_ _5"/>d and certain ke<span class="_ _5"/>y employees<span class="_ _5"/>. Each<span class="_ _5"/> restricted shar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">unit gr<span class="_ _5"/>anted is a right<span class="_ _5"/> to r<span class="_ _5"/>eceive an existing B shar<span class="_ _5"/>e of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _4"/>.<span class="_ _5"/> Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansfer<span class="_ _5"/> of B shares is contingen<span class="_ _5"/>t upon <span class="_ _5"/>the employee still being employed and not<span class="_ _5"/> under<span class="_ _5"/> notice of termination<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">takes place <span class="_ _5"/>when thr<span class="_ _5"/>ee years have passed fr<span class="_ _5"/>om the da<span class="_ _5"/>te of gran<span class="_ _5"/>t. For<span class="_ _5"/> members of the Ex<span class="_ _5"/>ecutive Board <span class="_ _5"/>the vesting peri<span class="_ _5"/>od </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is five years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _5"/>e not entitled t<span class="_ _5"/>o any dividends during <span class="_ _5"/>the vesting period.<span class="_ _5"/> Special conditions apply<span class="_ _5"/> regar<span class="_ _5"/>ding illness,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _5"/>tion as well as changes in<span class="_ _5"/> the company’<span class="_ _5"/>s capital structure<span class="_ _5"/>, etc.<span class="_ _5"/> A<span class="_ _5"/> part of A.P<span class="_ _9"/>. Møller - Mærsk A/S’<span class="_ _0"/> treasury </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">B shares wil<span class="_ _5"/>l be used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in c<span class="_ _5"/>onnection with the r<span class="_ _5"/>estricted shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the restricted shar<span class="_ _5"/>es plan is USD 18m (USD<span class="_ _5"/> 16m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the restricted shar<span class="_ _5"/>es as per<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 is 1.5 y<span class="_ _5"/>ears (1.6 years).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:304.34375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 206.688px; top: 0.0136718px; width: 59.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 0.0136718px; width: 206.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 527.359px; top: 0.0136718px; width: 44.7246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal fair </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 199.938px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 454.391px; top: 12.0137px; width: 40.125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">cise </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 544.609px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 465.359px; top: 24.0137px; width: 23.1738px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">price</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 570.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding share options</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 493.061px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">78,626</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,787</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,318</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,566</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 131.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Svitzer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,422</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,072</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,003</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 43.7031px; top: 129.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.029px; width: 44.6602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 130.045px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,739</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,955</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 144.92px; width: 492.885px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,686</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,686</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,150</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.811px; width: 493.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lapsed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 225.832px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,292</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 174.701px; width: 493.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,072</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">96,121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">110,193</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 189.592px; width: 493.131px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercisable 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,374</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,486</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47,860</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,989</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 219.389px; width: 493.061px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">19,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,036</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,452</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.264px; width: 569.449px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,257</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 43.7031px; top: 249.055px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 249.154px; width: 44.6602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 249.186px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4,439</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,697</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19,136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,633</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 264.076px; width: 492.885px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,327</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 278.967px; width: 493.113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">78,626</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,787</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,318</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 293.857px; width: 493.178px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercisable 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.2656px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,882</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,184</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,309</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The weighted av<span class="_ _5"/>erage shar<span class="_ _5"/>e price at the da<span class="_ _5"/>tes of exercise of shar<span class="_ _5"/>e options exercised <span class="_ _5"/>was DKK 12,606 (DKK 12,67<span class="_ _5"/>4).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The weighted average e<span class="_ _5"/>xercise prices for<span class="_ _5"/> the 202<span class="_ _5"/>4 stock option movements r<span class="_ _5"/>eflect <span class="_ _5"/>the exercise prices after<span class="_ _5"/> the S<span class="_ _5"/>vitzer<span class="_ _5"/> modification. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The opening balance 1 January<span class="_ _5"/> 2024 and the 2023 compar<span class="_ _5"/>ative disclosures ha<span class="_ _5"/>ve not been r<span class="_ _5"/>estated and are based on ex<span class="_ _5"/>ercise prices </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">before <span class="_ _5"/>the Svitzer<span class="_ _5"/> modification.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share options plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk also has a share option<span class="_ _5"/> plan grant<span class="_ _5"/>ed to members of <span class="_ _5"/>the Executive Board and other<span class="_ _5"/> k<span class="_ _5"/>ey employ<span class="_ _5"/>ees. E<span class="_ _5"/>ach share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">option granted is a<span class="_ _5"/> call option t<span class="_ _5"/>o buy an existing B shar<span class="_ _5"/>e of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options ar<span class="_ _5"/>e grant<span class="_ _5"/>ed at an ex<span class="_ _5"/>ercise price corr<span class="_ _5"/>esponding to 110% of <span class="_ _5"/>the aver<span class="_ _5"/>age of the mark<span class="_ _5"/>et price on <span class="_ _5"/>the first </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">five tr<span class="_ _5"/>ading days f<span class="_ _5"/>ollowing the r<span class="_ _5"/>elease of A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler - Mærsk <span class="_ _5"/>A/S<span class="_ _5"/>’<span class="_ _5"/> most<span class="_ _5"/> recent<span class="_ _5"/> Annual R<span class="_ _5"/>eport. Exer<span class="_ _5"/>cise of the shar<span class="_ _5"/>e options </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is contingent<span class="_ _5"/> upon the option holder<span class="_ _5"/> still being emplo<span class="_ _5"/>yed at <span class="_ _5"/>the time of v<span class="_ _5"/>esting, which<span class="_ _5"/> takes plac<span class="_ _5"/>e when thr<span class="_ _5"/>ee years hav<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _5"/>the date of gr<span class="_ _5"/>ant.<span class="_ _5"/> The shar<span class="_ _5"/>e options can then be ex<span class="_ _5"/>ercised when at<span class="_ _5"/> least <span class="_ _5"/>three y<span class="_ _5"/>ears and no more than<span class="_ _5"/> six </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years (seven <span class="_ _5"/>years for<span class="_ _5"/> share options gr<span class="_ _5"/>anted <span class="_ _5"/>to employees not<span class="_ _5"/> members of the Executive Boar<span class="_ _5"/>d) have passed fr<span class="_ _5"/>om the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date of gr<span class="_ _5"/>ant. Special c<span class="_ _5"/>onditions apply r<span class="_ _5"/>egar<span class="_ _5"/>ding illness,<span class="_ _5"/> death and resignation<span class="_ _5"/> as well as changes in <span class="_ _5"/>the company’<span class="_ _5"/>s capital </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structure etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options can onl<span class="_ _5"/>y be settled in shar<span class="_ _5"/>es. <span class="_ _5"/>A<span class="_ _5"/> part of <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>’<span class="_ _0"/> holding of treasury<span class="_ _5"/> B shares will be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in<span class="_ _5"/> respect of <span class="_ _5"/>the share option plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the share option plan is USD<span class="_ _5"/> 12m (USD 10m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the outstanding share options as per<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 is 4<span class="_ _5"/>.<span class="_ _5"/>1 <span class="_ _5"/>years (4.4 <span class="_ _5"/>years), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the r<span class="_ _5"/>ange of exer<span class="_ _5"/>cise prices for<span class="_ _5"/> the outstanding shar<span class="_ _5"/>e options as per 31 Dec<span class="_ _5"/>ember 202<span class="_ _5"/>4 is DKK 7<span class="_ _0"/>,271 to DKK 23<span class="_ _5"/>,994 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(DKK<span class="_ _8"/> 7<span class="_ _0"/>,605 to DKK 25<span class="_ _5"/>,096).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:200.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 424.471px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The following principal assumptions ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e used in the 2024 gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anted shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e options v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aluation:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 24.6855px; width: 121.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share options gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anted </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 525.656px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 474.109px; top: 36.6855px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">employees</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 61.3574px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 86.0293px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volume-weight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age at </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the date of gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ant, 1 April, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,022</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,732</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 412.438px; top: 100.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.92px; width: 412.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, five da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ys volume-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">weighted aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age after</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> publication of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Annual Report, DKK</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 100.92px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,992</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 569.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercise price, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,929</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,191</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olatility (based on historic </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volatility)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.119px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.592px; width: 569.947px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected term (years)</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5.75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.75</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.482px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected dividend per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.965px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.0%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.373px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-free inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 360.17px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.41%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.65%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.264px; width: 572.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> option at gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ant da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,540 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3,067 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span><span class="ws0">The exer<span class="_ _5"/>cise price was determined based on <span class="_ _5"/>the five-day <span class="_ _5"/>volume-weighted a<span class="_ _5"/>verage shar<span class="_ _5"/>e price after<span class="_ _5"/> the Annual Gener<span class="_ _5"/>al Meetings <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2024 and 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>No share options were gr<span class="_ _5"/>anted to members of <span class="_ _5"/>the Executive Board in<span class="_ _5"/> 2024 and 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the options gr<span class="_ _5"/>anted is based on <span class="_ _5"/>the Black-<span class="_ _5"/>Scholes option pricing model using <span class="_ _5"/>the assumptions in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">table above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Modification in 2024</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In May<span class="_ _5"/> 2024,<span class="_ _5"/> as a resul<span class="_ _5"/>t of <span class="_ _5"/>the demerger<span class="_ _5"/> of Svitz<span class="_ _5"/>er in<span class="_ _5"/> April 202<span class="_ _5"/>4, Maersk r<span class="_ _5"/>educed the ex<span class="_ _5"/>ercise price of <span class="_ _5"/>the outstanding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stock options and increased <span class="_ _5"/>the number<span class="_ _5"/> of stock options,<span class="_ _5"/> restricted shar<span class="_ _5"/>e units and performance shar<span class="_ _5"/>es outstanding in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">order<span class="_ _5"/> t<span class="_ _5"/>o preserve <span class="_ _5"/>the value of <span class="_ _5"/>the outstanding awar<span class="_ _5"/>ds.<span class="_ _5"/> The <span class="_ _5"/>total incremental f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the options, r<span class="_ _5"/>estricted share units </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and performance shar<span class="_ _5"/>es as a result<span class="_ _5"/> of the modification<span class="_ _5"/> is USD 7<span class="_ _0"/>.5m. For<span class="_ _5"/> awar<span class="_ _5"/>ds that<span class="_ _5"/> are full<span class="_ _5"/>y <span class="_ _5"/>vested, <span class="_ _5"/>the incremental f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value w<span class="_ _5"/>as recognised immediat<span class="_ _5"/>ely and f<span class="_ _5"/>or a<span class="_ _5"/>wards not<span class="_ _5"/> yet<span class="_ _5"/> vest<span class="_ _5"/>ed, <span class="_ _5"/>the incremental fair<span class="_ _5"/> <span class="_ _5"/>value is reco<span class="_ _5"/>gnised over<span class="_ _5"/> the period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _5"/>the modification date <span class="_ _5"/>to the <span class="_ _5"/>vesting date.<span class="_ _5"/> <span class="_ _5"/>The expense for<span class="_ _5"/> the original aw<span class="_ _5"/>ards wil<span class="_ _5"/>l continue to be r<span class="_ _5"/>ecognised as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terms had not been<span class="_ _5"/> modified. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the modified aw<span class="_ _5"/>ards was det<span class="_ _5"/>ermined using the same models and principles as described above<span class="_ _5"/>, with<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the following diff<span class="_ _5"/>erences in inputs f<span class="_ _5"/>or st<span class="_ _5"/>ock options: </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:112.609375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volume-weight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age at </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the date of modification, 15 May</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.736px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11,335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 20.4355px; width: 570.562px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercise price, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> Original exercise price x adjustmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t factor</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 40.8574px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olatility (based on historic </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volatility)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 329.748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.2793px; width: 369.357px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected term (years)</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 369.357px; top: 61.2793px; width: 200.35px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">80% of time r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emaining until option v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">esting</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.7012px; width: 570.094px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected dividend per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.123px; width: 570.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Risk free int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Based on time r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emaining until expiry</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _5"/>-settled performance shares<span class="_ _5"/>, r<span class="_ _5"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _5"/>anted <span class="_ _5"/>to members of the Executiv<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _5"/>to employees of Maersk as part<span class="_ _5"/> of Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long-t<span class="_ _5"/>erm incentive pr<span class="_ _5"/>ogramme ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised as re<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">munera<span class="_ _5"/>tion expenses over<span class="_ _5"/> the <span class="_ _5"/>vesting period as per<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated fair<span class="_ _5"/> <span class="_ _5"/>value at <span class="_ _5"/>the gran<span class="_ _5"/>t date and r<span class="_ _5"/>esult in<span class="_ _5"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding adjustment <span class="_ _5"/>to equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the end of each r<span class="_ _5"/>eporting period, Maersk r<span class="_ _5"/>evises its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated number<span class="_ _5"/> of awar<span class="_ _5"/>ds that<span class="_ _5"/> are expect<span class="_ _5"/>ed to <span class="_ _5"/>vest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the non-mark<span class="_ _5"/>et <span class="_ _5"/>vesting conditions and service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.<span class="_ _5"/> Any<span class="_ _5"/> impact of <span class="_ _5"/>the revision is r<span class="_ _5"/>ecognised in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> with a corr<span class="_ _5"/>esponding adjustment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.78125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fees and remuner</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation to </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Executive Boar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fixed pay</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 442.425px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Short</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-term</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cash incentive</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.719px; top: 54.3828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 493.242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Long-t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erm share-based incentiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.567px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 563.312px; top: 54.5137px; width: 6.45117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.4043px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Remuner</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation in connection with r</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">edundancy, resignation</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and release fr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om duty t</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o work</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 81.8554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.2949px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emuneration </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to the Ex</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecutive Board</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.951px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In 2024,<span class="_ _5"/> follo<span class="_ _5"/>wing the demerger<span class="_ _5"/> of Svitz<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> the outstanding stock options,<span class="_ _5"/> restricted shar<span class="_ _5"/>e units and performance shares <span class="_ _5"/>were modified, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">resulting in<span class="_ _5"/> immediate recognition<span class="_ _5"/> of a beneficial modification expense for<span class="_ _5"/> the alr<span class="_ _5"/>eady v<span class="_ _5"/>ested grants in<span class="_ _5"/> 2024.<span class="_ _5"/> The beneficial modifications </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to unvested pr<span class="_ _5"/>ogr<span class="_ _5"/>ammes will be reco<span class="_ _5"/>gnised over<span class="_ _5"/> the remaining <span class="_ _5"/>vesting period.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The contr<span class="_ _5"/>act of employment<span class="_ _5"/> for<span class="_ _5"/> the Executive Boar<span class="_ _5"/>d contains t<span class="_ _5"/>erms customary in Danish<span class="_ _5"/> listed companies,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination notice and non-competition clauses.<span class="_ _5"/> In connection with a<span class="_ _5"/> possible tak<span class="_ _5"/>eover<span class="_ _5"/> offer<span class="_ _5"/>,<span class="_ _5"/> neither<span class="_ _5"/> the Executiv<span class="_ _5"/>e Board </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nor<span class="_ _5"/> the Board of Dir<span class="_ _5"/>ectors wil<span class="_ _5"/>l receive special r<span class="_ _5"/>emuneration.<span class="_ _5"/> Fees and r<span class="_ _5"/>emuneration do not<span class="_ _5"/> include pension. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Key<span class="_ _5"/> management<span class="_ _5"/> comprises the Executive Boar<span class="_ _5"/>d and the Boar<span class="_ _5"/>d of Directors.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Board of Dir<span class="_ _5"/>ectors has receiv<span class="_ _5"/>ed fees of USD 2m (USD 2m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> disclosure of r<span class="_ _5"/>emuneration <span class="_ _5"/>to the Ex<span class="_ _5"/>ecutive Board of <span class="_ _5"/>the parent<span class="_ _5"/> company<span class="_ _5"/>,<span class="_ _5"/> refer<span class="_ _5"/> <span class="_ _5"/>to note 2.<span class="_ _0"/>1 operating costs of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _5"/> company financial sta<span class="_ _5"/>tements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.2 <span class="_"> </span>Shar<span class="_ _5"/>e-based payments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:188.34375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 275.125px; top: 0.0136718px; width: 59.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 361.422px; top: 0.0136718px; width: 206.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 568.203px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 268.375px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 332.359px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 565.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding performance shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 488.865px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 37.5293px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 88.5137px; width: 263.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,799</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,951</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,750</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.404px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Svitz</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">221</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">414</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">635</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.295px; width: 488.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,048</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,405</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,453</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.076px; width: 491.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.441px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5429px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.967px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 177.857px; width: 488.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The fair<span class="_ _5"/> value per<span class="_ _5"/> performance shar<span class="_ _5"/>e is equal to <span class="_ _5"/>the volume-weight<span class="_ _5"/>ed averag<span class="_ _5"/>e share price on the da<span class="_ _5"/>te of grant,<span class="_ _5"/> i.e.<span class="_ _5"/> 1 April 202<span class="_ _5"/>4, adjust<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> expected dividends during the <span class="_ _5"/>vesting period. <span class="_ _5"/>The fair<span class="_ _5"/> value per<span class="_ _5"/> performance shar<span class="_ _5"/>e is DKK 9,045 (10<span class="_ _5"/>,299) for<span class="_ _5"/> members of the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Executive Board and emplo<span class="_ _5"/>yees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>T<span class="_ _5"/>otal fair<span class="_ _5"/> value is at<span class="_ _5"/> the time of gr<span class="_ _5"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Performance shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 2023<span class="_ _5"/>,<span class="_ _5"/> performance shares ar<span class="_ _5"/>e gran<span class="_ _5"/>ted to members of <span class="_ _5"/>the Executive Board and c<span class="_ _5"/>ertain key<span class="_ _5"/> employees.<span class="_ _5"/> Each perf<span class="_ _5"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance share gr<span class="_ _5"/>anted is a right<span class="_ _5"/> to pot<span class="_ _5"/>entially<span class="_ _5"/> receive an e<span class="_ _5"/>xisting B share of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansfer<span class="_ _5"/> of B shares is contingen<span class="_ _5"/>t upon <span class="_ _5"/>the fulfilment of certain perf<span class="_ _5"/>ormance criteria being met,<span class="_ _5"/> which may<span class="_ _5"/> include, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">but ar<span class="_ _5"/>e not limited <span class="_ _5"/>to return on<span class="_ _5"/> invested capital,<span class="_ _5"/> relative shar<span class="_ _5"/>e performance,<span class="_ _5"/> re<span class="_ _5"/>venue growth and ESG elemen<span class="_ _5"/>ts. <span class="_ _5"/>V<span class="_ _5"/>esting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also con<span class="_ _5"/>tingent upon <span class="_ _5"/>the employee still being emplo<span class="_ _5"/>yed and not under<span class="_ _5"/> notice of t<span class="_ _5"/>ermination when <span class="_ _5"/>three y<span class="_ _5"/>ears have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pass<span class="_ _8"/>ed from the dat<span class="_ _5"/>e of grant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _5"/>e not entitled t<span class="_ _5"/>o any dividends during <span class="_ _5"/>the vesting period.<span class="_ _5"/> Special conditions apply<span class="_ _5"/> regar<span class="_ _5"/>ding illness,<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _5"/>tion as well as changes in<span class="_ _5"/> the company’<span class="_ _5"/>s capital structure<span class="_ _5"/>, etc. <span class="_ _5"/>A part of <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> - Mær<span class="_ _8"/>sk A/S<span class="_ _5"/>’<span class="_ _5"/> tr<span class="_ _5"/>easury </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">B shares wil<span class="_ _5"/>l be used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in c<span class="_ _5"/>onnection with the perf<span class="_ _5"/>ormance shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the performance shar<span class="_ _5"/>es plan is USD 6m (USD 2m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the performance shar<span class="_ _5"/>es as per 31 December<span class="_ _5"/> 202<span class="_ _5"/>4 is 1.8 years (2.3 <span class="_ _5"/>years).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:277.453125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 273.984px; top: 0.0136718px; width: 59.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 360.531px; top: 0.0136718px; width: 206.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 568.828px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 268.375px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.984px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 565.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding restricted shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 488.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,128</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 565.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,468</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,468</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Svitz</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">208</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.9219px; top: 117.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.029px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised and vested</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.672px; top: 118.045px; width: 176.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,363</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.186px; width: 489.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,410</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.826px; width: 488.965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancelled</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.717px; width: 488.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,898</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,922</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 192.498px; width: 488.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,810</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 207.389px; width: 565.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.9219px; top: 222.164px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 222.279px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised and vested</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.672px; top: 222.295px; width: 176.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">941</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,146</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,087</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 236.436px; width: 489.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.076px; width: 488.965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancelled</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 266.967px; width: 488.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,128</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The fair<span class="_ _5"/> value per<span class="_ _5"/> restrict<span class="_ _5"/>ed share unit is equal <span class="_ _5"/>to the <span class="_ _5"/>volume-weighted av<span class="_ _5"/>erage shar<span class="_ _5"/>e price on the date of gr<span class="_ _5"/>ant,<span class="_ _5"/> i.e. 1 <span class="_ _5"/>April 2024 (1 <span class="_ _5"/>April </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023), adjusted f<span class="_ _5"/>or e<span class="_ _5"/>xpected dividends during the vesting period.<span class="_ _5"/> <span class="_ _5"/>The fair <span class="_ _5"/>value per<span class="_ _5"/> restricted shar<span class="_ _5"/>e unit is DKK 8<span class="_ _5"/>,255 (DKK 10,299) for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">employees.<span class="_ _5"/> No restricted shar<span class="_ _5"/>e units were gr<span class="_ _5"/>anted t<span class="_ _5"/>o members of the Executive Boar<span class="_ _5"/>d in 2024 or<span class="_ _5"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>T<span class="_ _5"/>otal fair<span class="_ _5"/> value is at<span class="_ _5"/> the time of gr<span class="_ _5"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>The weighted averag<span class="_ _5"/>e share price at <span class="_ _5"/>the settlement date <span class="_ _5"/>was DKK 9,<span class="_ _5"/>045 (DKK 12,732).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shar<span class="_ _5"/>e units are gr<span class="_ _5"/>anted t<span class="_ _5"/>o members of the Executive Boar<span class="_ _5"/>d and certain ke<span class="_ _5"/>y employees<span class="_ _5"/>. Each<span class="_ _5"/> restricted shar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">unit gr<span class="_ _5"/>anted is a right<span class="_ _5"/> to r<span class="_ _5"/>eceive an existing B shar<span class="_ _5"/>e of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _4"/>.<span class="_ _5"/> Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansfer<span class="_ _5"/> of B shares is contingen<span class="_ _5"/>t upon <span class="_ _5"/>the employee still being employed and not<span class="_ _5"/> under<span class="_ _5"/> notice of termination<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">takes place <span class="_ _5"/>when thr<span class="_ _5"/>ee years have passed fr<span class="_ _5"/>om the da<span class="_ _5"/>te of gran<span class="_ _5"/>t. For<span class="_ _5"/> members of the Ex<span class="_ _5"/>ecutive Board <span class="_ _5"/>the vesting peri<span class="_ _5"/>od </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is five years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _5"/>e not entitled t<span class="_ _5"/>o any dividends during <span class="_ _5"/>the vesting period.<span class="_ _5"/> Special conditions apply<span class="_ _5"/> regar<span class="_ _5"/>ding illness,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _5"/>tion as well as changes in<span class="_ _5"/> the company’<span class="_ _5"/>s capital structure<span class="_ _5"/>, etc.<span class="_ _5"/> A<span class="_ _5"/> part of A.P<span class="_ _9"/>. Møller - Mærsk A/S’<span class="_ _0"/> treasury </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">B shares wil<span class="_ _5"/>l be used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in c<span class="_ _5"/>onnection with the r<span class="_ _5"/>estricted shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the restricted shar<span class="_ _5"/>es plan is USD 18m (USD<span class="_ _5"/> 16m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the restricted shar<span class="_ _5"/>es as per<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 is 1.5 y<span class="_ _5"/>ears (1.6 years).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:304.34375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 206.688px; top: 0.0136718px; width: 59.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 0.0136718px; width: 206.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 527.359px; top: 0.0136718px; width: 44.7246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal fair </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 199.938px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 454.391px; top: 12.0137px; width: 40.125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">cise </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 544.609px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 465.359px; top: 24.0137px; width: 23.1738px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">price</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 570.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding share options</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 493.061px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">78,626</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,787</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,318</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,566</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 131.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Svitzer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,422</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,072</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,003</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 43.7031px; top: 129.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.029px; width: 44.6602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 130.045px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,739</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,955</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 144.92px; width: 492.885px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,686</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,686</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,150</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.811px; width: 493.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lapsed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 225.832px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,292</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 174.701px; width: 493.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,072</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">96,121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">110,193</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 189.592px; width: 493.131px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercisable 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,374</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,486</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47,860</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,989</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 219.389px; width: 493.061px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">19,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,036</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,452</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.264px; width: 569.449px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,257</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 43.7031px; top: 249.055px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 249.154px; width: 44.6602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 249.186px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4,439</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,697</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19,136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,633</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 264.076px; width: 492.885px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,327</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 278.967px; width: 493.113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">78,626</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,787</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,318</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 293.857px; width: 493.178px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercisable 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.2656px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,882</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,184</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,309</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The weighted av<span class="_ _5"/>erage shar<span class="_ _5"/>e price at the da<span class="_ _5"/>tes of exercise of shar<span class="_ _5"/>e options exercised <span class="_ _5"/>was DKK 12,606 (DKK 12,67<span class="_ _5"/>4).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The weighted average e<span class="_ _5"/>xercise prices for<span class="_ _5"/> the 202<span class="_ _5"/>4 stock option movements r<span class="_ _5"/>eflect <span class="_ _5"/>the exercise prices after<span class="_ _5"/> the S<span class="_ _5"/>vitzer<span class="_ _5"/> modification. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The opening balance 1 January<span class="_ _5"/> 2024 and the 2023 compar<span class="_ _5"/>ative disclosures ha<span class="_ _5"/>ve not been r<span class="_ _5"/>estated and are based on ex<span class="_ _5"/>ercise prices </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">before <span class="_ _5"/>the Svitzer<span class="_ _5"/> modification.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share options plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk also has a share option<span class="_ _5"/> plan grant<span class="_ _5"/>ed to members of <span class="_ _5"/>the Executive Board and other<span class="_ _5"/> k<span class="_ _5"/>ey employ<span class="_ _5"/>ees. E<span class="_ _5"/>ach share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">option granted is a<span class="_ _5"/> call option t<span class="_ _5"/>o buy an existing B shar<span class="_ _5"/>e of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options ar<span class="_ _5"/>e grant<span class="_ _5"/>ed at an ex<span class="_ _5"/>ercise price corr<span class="_ _5"/>esponding to 110% of <span class="_ _5"/>the aver<span class="_ _5"/>age of the mark<span class="_ _5"/>et price on <span class="_ _5"/>the first </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">five tr<span class="_ _5"/>ading days f<span class="_ _5"/>ollowing the r<span class="_ _5"/>elease of A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler - Mærsk <span class="_ _5"/>A/S<span class="_ _5"/>’<span class="_ _5"/> most<span class="_ _5"/> recent<span class="_ _5"/> Annual R<span class="_ _5"/>eport. Exer<span class="_ _5"/>cise of the shar<span class="_ _5"/>e options </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is contingent<span class="_ _5"/> upon the option holder<span class="_ _5"/> still being emplo<span class="_ _5"/>yed at <span class="_ _5"/>the time of v<span class="_ _5"/>esting, which<span class="_ _5"/> takes plac<span class="_ _5"/>e when thr<span class="_ _5"/>ee years hav<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _5"/>the date of gr<span class="_ _5"/>ant.<span class="_ _5"/> The shar<span class="_ _5"/>e options can then be ex<span class="_ _5"/>ercised when at<span class="_ _5"/> least <span class="_ _5"/>three y<span class="_ _5"/>ears and no more than<span class="_ _5"/> six </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years (seven <span class="_ _5"/>years for<span class="_ _5"/> share options gr<span class="_ _5"/>anted <span class="_ _5"/>to employees not<span class="_ _5"/> members of the Executive Boar<span class="_ _5"/>d) have passed fr<span class="_ _5"/>om the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date of gr<span class="_ _5"/>ant. Special c<span class="_ _5"/>onditions apply r<span class="_ _5"/>egar<span class="_ _5"/>ding illness,<span class="_ _5"/> death and resignation<span class="_ _5"/> as well as changes in <span class="_ _5"/>the company’<span class="_ _5"/>s capital </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structure etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options can onl<span class="_ _5"/>y be settled in shar<span class="_ _5"/>es. <span class="_ _5"/>A<span class="_ _5"/> part of <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>’<span class="_ _0"/> holding of treasury<span class="_ _5"/> B shares will be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in<span class="_ _5"/> respect of <span class="_ _5"/>the share option plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the share option plan is USD<span class="_ _5"/> 12m (USD 10m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the outstanding share options as per<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 is 4<span class="_ _5"/>.<span class="_ _5"/>1 <span class="_ _5"/>years (4.4 <span class="_ _5"/>years), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the r<span class="_ _5"/>ange of exer<span class="_ _5"/>cise prices for<span class="_ _5"/> the outstanding shar<span class="_ _5"/>e options as per 31 Dec<span class="_ _5"/>ember 202<span class="_ _5"/>4 is DKK 7<span class="_ _0"/>,271 to DKK 23<span class="_ _5"/>,994 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(DKK<span class="_ _8"/> 7<span class="_ _0"/>,605 to DKK 25<span class="_ _5"/>,096).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:200.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 424.471px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The following principal assumptions ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e used in the 2024 gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anted shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e options v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aluation:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 24.6855px; width: 121.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share options gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anted </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 525.656px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 474.109px; top: 36.6855px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">employees</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 61.3574px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 86.0293px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volume-weight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age at </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the date of gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ant, 1 April, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,022</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,732</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 412.438px; top: 100.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.92px; width: 412.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, five da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ys volume-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">weighted aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age after</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> publication of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Annual Report, DKK</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 100.92px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,992</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 569.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercise price, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,929</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,191</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olatility (based on historic </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volatility)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.119px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.592px; width: 569.947px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected term (years)</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5.75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.75</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.482px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected dividend per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.965px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.0%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.373px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-free inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 360.17px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.41%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.65%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.264px; width: 572.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> option at gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ant da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,540 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3,067 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span><span class="ws0">The exer<span class="_ _5"/>cise price was determined based on <span class="_ _5"/>the five-day <span class="_ _5"/>volume-weighted a<span class="_ _5"/>verage shar<span class="_ _5"/>e price after<span class="_ _5"/> the Annual Gener<span class="_ _5"/>al Meetings <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2024 and 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>No share options were gr<span class="_ _5"/>anted to members of <span class="_ _5"/>the Executive Board in<span class="_ _5"/> 2024 and 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the options gr<span class="_ _5"/>anted is based on <span class="_ _5"/>the Black-<span class="_ _5"/>Scholes option pricing model using <span class="_ _5"/>the assumptions in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">table above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Modification in 2024</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In May<span class="_ _5"/> 2024,<span class="_ _5"/> as a resul<span class="_ _5"/>t of <span class="_ _5"/>the demerger<span class="_ _5"/> of Svitz<span class="_ _5"/>er in<span class="_ _5"/> April 202<span class="_ _5"/>4, Maersk r<span class="_ _5"/>educed the ex<span class="_ _5"/>ercise price of <span class="_ _5"/>the outstanding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stock options and increased <span class="_ _5"/>the number<span class="_ _5"/> of stock options,<span class="_ _5"/> restricted shar<span class="_ _5"/>e units and performance shar<span class="_ _5"/>es outstanding in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">order<span class="_ _5"/> t<span class="_ _5"/>o preserve <span class="_ _5"/>the value of <span class="_ _5"/>the outstanding awar<span class="_ _5"/>ds.<span class="_ _5"/> The <span class="_ _5"/>total incremental f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the options, r<span class="_ _5"/>estricted share units </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and performance shar<span class="_ _5"/>es as a result<span class="_ _5"/> of the modification<span class="_ _5"/> is USD 7<span class="_ _0"/>.5m. For<span class="_ _5"/> awar<span class="_ _5"/>ds that<span class="_ _5"/> are full<span class="_ _5"/>y <span class="_ _5"/>vested, <span class="_ _5"/>the incremental f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value w<span class="_ _5"/>as recognised immediat<span class="_ _5"/>ely and f<span class="_ _5"/>or a<span class="_ _5"/>wards not<span class="_ _5"/> yet<span class="_ _5"/> vest<span class="_ _5"/>ed, <span class="_ _5"/>the incremental fair<span class="_ _5"/> <span class="_ _5"/>value is reco<span class="_ _5"/>gnised over<span class="_ _5"/> the period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _5"/>the modification date <span class="_ _5"/>to the <span class="_ _5"/>vesting date.<span class="_ _5"/> <span class="_ _5"/>The expense for<span class="_ _5"/> the original aw<span class="_ _5"/>ards wil<span class="_ _5"/>l continue to be r<span class="_ _5"/>ecognised as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terms had not been<span class="_ _5"/> modified. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the modified aw<span class="_ _5"/>ards was det<span class="_ _5"/>ermined using the same models and principles as described above<span class="_ _5"/>, with<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the following diff<span class="_ _5"/>erences in inputs f<span class="_ _5"/>or st<span class="_ _5"/>ock options: </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:112.609375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volume-weight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age at </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the date of modification, 15 May</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.736px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11,335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 20.4355px; width: 570.562px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercise price, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> Original exercise price x adjustmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t factor</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 40.8574px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olatility (based on historic </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volatility)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 329.748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.2793px; width: 369.357px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected term (years)</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 369.357px; top: 61.2793px; width: 200.35px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">80% of time r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emaining until option v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">esting</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.7012px; width: 570.094px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected dividend per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.123px; width: 570.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Risk free int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Based on time r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emaining until expiry</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _5"/>-settled performance shares<span class="_ _5"/>, r<span class="_ _5"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _5"/>anted <span class="_ _5"/>to members of the Executiv<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _5"/>to employees of Maersk as part<span class="_ _5"/> of Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long-t<span class="_ _5"/>erm incentive pr<span class="_ _5"/>ogramme ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised as re<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">munera<span class="_ _5"/>tion expenses over<span class="_ _5"/> the <span class="_ _5"/>vesting period as per<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated fair<span class="_ _5"/> <span class="_ _5"/>value at <span class="_ _5"/>the gran<span class="_ _5"/>t date and r<span class="_ _5"/>esult in<span class="_ _5"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding adjustment <span class="_ _5"/>to equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the end of each r<span class="_ _5"/>eporting period, Maersk r<span class="_ _5"/>evises its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated number<span class="_ _5"/> of awar<span class="_ _5"/>ds that<span class="_ _5"/> are expect<span class="_ _5"/>ed to <span class="_ _5"/>vest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the non-mark<span class="_ _5"/>et <span class="_ _5"/>vesting conditions and service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.<span class="_ _5"/> Any<span class="_ _5"/> impact of <span class="_ _5"/>the revision is r<span class="_ _5"/>ecognised in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> with a corr<span class="_ _5"/>esponding adjustment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.78125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fees and remuner</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation to </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Executive Boar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fixed pay</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 442.425px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Short</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-term</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cash incentive</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.719px; top: 54.3828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 493.242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Long-t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erm share-based incentiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.567px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 563.312px; top: 54.5137px; width: 6.45117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.4043px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Remuner</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation in connection with r</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">edundancy, resignation</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and release fr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om duty t</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o work</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 81.8554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.2949px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emuneration </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to the Ex</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecutive Board</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.951px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In 2024,<span class="_ _5"/> follo<span class="_ _5"/>wing the demerger<span class="_ _5"/> of Svitz<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> the outstanding stock options,<span class="_ _5"/> restricted shar<span class="_ _5"/>e units and performance shares <span class="_ _5"/>were modified, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">resulting in<span class="_ _5"/> immediate recognition<span class="_ _5"/> of a beneficial modification expense for<span class="_ _5"/> the alr<span class="_ _5"/>eady v<span class="_ _5"/>ested grants in<span class="_ _5"/> 2024.<span class="_ _5"/> The beneficial modifications </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to unvested pr<span class="_ _5"/>ogr<span class="_ _5"/>ammes will be reco<span class="_ _5"/>gnised over<span class="_ _5"/> the remaining <span class="_ _5"/>vesting period.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The contr<span class="_ _5"/>act of employment<span class="_ _5"/> for<span class="_ _5"/> the Executive Boar<span class="_ _5"/>d contains t<span class="_ _5"/>erms customary in Danish<span class="_ _5"/> listed companies,<span class="_ _5"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination notice and non-competition clauses.<span class="_ _5"/> In connection with a<span class="_ _5"/> possible tak<span class="_ _5"/>eover<span class="_ _5"/> offer<span class="_ _5"/>,<span class="_ _5"/> neither<span class="_ _5"/> the Executiv<span class="_ _5"/>e Board </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nor<span class="_ _5"/> the Board of Dir<span class="_ _5"/>ectors wil<span class="_ _5"/>l receive special r<span class="_ _5"/>emuneration.<span class="_ _5"/> Fees and r<span class="_ _5"/>emuneration do not<span class="_ _5"/> include pension. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Key<span class="_ _5"/> management<span class="_ _5"/> comprises the Executive Boar<span class="_ _5"/>d and the Boar<span class="_ _5"/>d of Directors.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Board of Dir<span class="_ _5"/>ectors has receiv<span class="_ _5"/>ed fees of USD 2m (USD 2m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> disclosure of r<span class="_ _5"/>emuneration <span class="_ _5"/>to the Ex<span class="_ _5"/>ecutive Board of <span class="_ _5"/>the parent<span class="_ _5"/> company<span class="_ _5"/>,<span class="_ _5"/> refer<span class="_ _5"/> <span class="_ _5"/>to note 2.<span class="_ _0"/>1 operating costs of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _5"/> company financial sta<span class="_ _5"/>tements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.<span class="_ _5"/>6 <span class="_"> </span>R<span class="_ _5"/>elated p<span class="_ _5"/>arties</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:396.771484375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 556.266px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 194.656px; top: 0.138672px; width: 57.123px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Control</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ling </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 297.141px; top: 0.138672px; width: 56.1797px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Associated </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 391.672px; top: 0.138672px; width: 164.531px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Joint ven</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tures</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Management</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 204.219px; top: 12.1387px; width: 32.7012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">parties</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 297.141px; top: 12.1387px; width: 50.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">companies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 187.078px; top: 36.8105px; width: 382.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5938px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.4824px; width: 80.9297px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Income statement</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.373px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Revenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">65</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 91.1484px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.2637px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Opera</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ting costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.789px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">697</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">570</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">615</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">566</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 106.17px; width: 569.572px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Remuner</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation to Management</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 121.045px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">95</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 263.141px; top: 135.82px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.936px; width: 263.262px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 178.904px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 135.951px; width: 261.955px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 165.732px; width: 27.9961px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 180.67px; width: 569.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables, non-curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.561px; width: 569.953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 210.451px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables, curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5429px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">627</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">681</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 225.342px; width: 569.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.1522px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">271</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">277</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 255.123px; width: 43.043px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 270.014px; width: 165.867px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 282.014px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc., curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.398px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.904px; width: 569.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">102</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">76</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 311.795px; width: 569.373px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 178.904px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 213.375px; top: 341.461px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 341.592px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,569</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 341.576px; width: 212.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Shares bought</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> back</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.922px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">213</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 341.592px; width: 261.955px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 356.482px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital increase</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 371.373px; width: 569.824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends earned</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">199</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">219</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">151</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">95</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 213.375px; top: 386.148px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 386.279px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,974</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 386.264px; width: 212.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends distributed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 93.3866px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 386.279px; width: 261.955px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The Board of Dir<span class="_ _5"/>ectors and the Executive Boar<span class="_ _5"/>d of A.P<span class="_ _4"/>.<span class="_ _5"/> Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>, <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> Holding A/S<span class="_ _5"/>,<span class="_ _5"/> A.P<span class="_ _4"/>. Møl<span class="_ _5"/>ler o<span class="_ _5"/>g Hustru Chastine Mc<span class="_ _5"/>-Kinney </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Møllers Fond til almene Formaal and <span class="_ _5"/>their close r<span class="_ _5"/>elatives (including undertakings under<span class="_ _5"/> their<span class="_ _5"/> control).<span class="_ _5"/> T<span class="_ _5"/>r<span class="_ _5"/>ade receiv<span class="_ _5"/>ables and payables include </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">customary business-r<span class="_ _5"/>elated accounts r<span class="_ _5"/>egarding shipping activities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Includes commission and commercial receivables <span class="_ _5"/>to Maersk Brok<span class="_ _5"/>er K/S fr<span class="_ _5"/>om chartering as wel<span class="_ _5"/>l as the purchase and sale of <span class="_ _5"/>vessels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Includes the gain on sale of Maersk Supply Servic<span class="_ _5"/>e to <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> Holding A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Includes shares bought<span class="_ _5"/> back from <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> Holding A/S and <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers Familief<span class="_ _5"/>ond (the Foundation).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _3"> </span>Includes dividends paid to A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding A/S<span class="_ _5"/>, <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _5"/>-Kinney<span class="_ _5"/> Møllers F<span class="_ _5"/>amiliefond (the Foundation) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Den A.P<span class="_ _9"/>. Møllerske S<span class="_ _5"/>tøttefond.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint usage agr<span class="_ _5"/>eement with <span class="_ _5"/>A.P<span class="_ _4"/>.<span class="_ _5"/> Møller<span class="_ _5"/> Holding A/S</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">With the objective o<span class="_ _5"/>f further str<span class="_ _5"/>engthening the <span class="_ _5"/>value of the br<span class="_ _5"/>ands,<span class="_ _5"/> A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler<span class="_ _5"/> - Mærsk A/S in 2018 ent<span class="_ _5"/>ered into a join<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">usage agreement<span class="_ _5"/> with <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S regar<span class="_ _5"/>ding the use of commonl<span class="_ _5"/>y used tr<span class="_ _5"/>ademarks which hist<span class="_ _5"/>orically<span class="_ _5"/> have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">benefited both <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S and <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S.<span class="_ _5"/> <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding A/S is <span class="_ _5"/>the control<span class="_ _5"/>ling shareholder<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S and is <span class="_ _5"/>wholly<span class="_ _5"/> owned by <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers Fond til almene F<span class="_ _5"/>ormaal. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The joint usage agr<span class="_ _5"/>eement establishes a<span class="_ _5"/> framework and a<span class="_ _5"/> branding str<span class="_ _5"/>ategy f<span class="_ _5"/>or<span class="_ _5"/> the commonly<span class="_ _5"/> used tr<span class="_ _5"/>ademarks and a joint </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brand boar<span class="_ _5"/>d, <span class="_ _5"/>where the parties can<span class="_ _5"/> cooperat<span class="_ _5"/>e regar<span class="_ _5"/>ding the use of <span class="_ _5"/>these tr<span class="_ _5"/>ademarks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> Copenhagen,<span class="_ _5"/> Denmark has control o<span class="_ _5"/>ver<span class="_ _5"/> the company<span class="_ _5"/> and prepares c<span class="_ _5"/>onsolidated financial state-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _5"/> A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler o<span class="_ _5"/>g Hustru Chastine Mc<span class="_ _5"/>-Kinney<span class="_ _5"/> Møllers Fond til almene Formaal is <span class="_ _5"/>the ultimate o<span class="_ _5"/>wner<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share buy<span class="_ _5"/>-back progr<span class="_ _5"/>amme</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">According <span class="_ _5"/>to a separ<span class="_ _5"/>ate agreemen<span class="_ _5"/>t, <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S and A.P<span class="_ _9"/>. Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers F<span class="_ _5"/>amilie-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fond (the Foundation) participat<span class="_ _5"/>ed on a pro r<span class="_ _5"/>ata basis <span class="_ _5"/>to the shar<span class="_ _5"/>es purchased in <span class="_ _5"/>the company’<span class="_ _5"/>s share buy<span class="_ _5"/>-back progr<span class="_ _5"/>amme.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding A/S participa<span class="_ _5"/>ted in selling <span class="_ _5"/>A and B shar<span class="_ _5"/>es and A.P<span class="_ _9"/>.<span class="_ _5"/> Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _5"/>-Kinney<span class="_ _5"/> Møllers F<span class="_ _5"/>amilie-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fond (the Foundation) participat<span class="_ _5"/>ed in selling B shares<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.648px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fees to the statutory auditors</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.33px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Statutory</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> audit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.001px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.572px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assurance services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax, VA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and advisory</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.067px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 420.551px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 432.72px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fees for<span class="_ _5"/> other<span class="_ _5"/> services other<span class="_ _5"/> than statutory<span class="_ _5"/> audit of <span class="_ _5"/>the financial statements pr<span class="_ _5"/>ovided by Pricew<span class="_ _5"/>aterhouseCoopers Stats-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">autoriseret<span class="_ _5"/> Revisionspartnerselskab <span class="_ _5"/>to Maersk mainly<span class="_ _5"/> consist of <span class="_ _5"/>transaction advice<span class="_ _5"/>, accounting and <span class="_ _5"/>tax-relat<span class="_ _5"/>ed services.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.<span class="_ _8"/>3 <span class="_ _57"> </span>Depr<span class="_ _5"/>eciation, amortisation and impairmen<span class="_ _5"/>t losses, net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal depreciation </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,783</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,856</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 387.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal impairment, net </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.439px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation, amortisation and impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,220</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,615</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Depreciation is r<span class="_ _5"/>elated <span class="_ _5"/>to property<span class="_ _5"/>,<span class="_ _5"/> plant<span class="_ _5"/> and equipment of USD 2.<span class="_ _5"/>7bn (USD 2.<span class="_ _5"/>6bn) and to right<span class="_ _5"/>-of-use assets of USD 3<span class="_ _5"/>.<span class="_ _0"/>1bn </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(USD 3<span class="_ _5"/>.3bn). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> T<span class="_ _0"/>otal net impairments ar<span class="_ _5"/>e primarily r<span class="_ _5"/>elated <span class="_ _5"/>to property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t of USD 44m (USD<span class="_ _5"/> 55m) and intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets of USD 1m (USD 322m).<span class="_ _5"/> Refer<span class="_ _5"/> <span class="_ _5"/>to note 3<span class="_ _5"/>.<span class="_ _5"/>1 in<span class="_ _5"/>tangible assets and note 3.2 pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>1 <span class="_ _215"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:309.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 222.703px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.609px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 439.828px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">260</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.232px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.576px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.123px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,044</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,637</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 569.479px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.686px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">157</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.576px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.467px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.357px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-48</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.248px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,014</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">693</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,396</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.029px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.578px; top: 298.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 387.328px; top: 298.982px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,944</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">720</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.92px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,030</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 298.982px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,824</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 7<span class="_ _5"/>6m is under de<span class="_ _5"/>velopment. USD 32m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 71m hav<span class="_ _5"/>e restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 185m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 355.359px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.938px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.844px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,554</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,985</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,043</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,371</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,953</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">204</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 166.25px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 166.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 259.297px; top: 105.357px; width: 310.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">234</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">642</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-356</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.717px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.592px; width: 569.848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">349</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">824</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,168</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">299</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">322</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-297</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.516px; top: 343.523px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 343.654px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">752</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 533.547px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,124</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Acquisition of Martin Bencher<span class="_ _5"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 49m is under de<span class="_ _5"/>velopment. USD 34m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 70m<span class="_ _5"/> have restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 162m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.906px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill carrying amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 572.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 316 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 572.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 4,599 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.854px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Multiple terminals </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.172px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 241</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Others</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 438.551px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5,161</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.421875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 49.2422px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 572.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 319 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 64.1328px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.2637px; width: 572.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.301px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1543px; width: 161.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.578px; top: 79.1543px; width: 410.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arious terminals</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 571.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Maersk Container Industry</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 572.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 459.169px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 322 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>On 27 <span class="_ _5"/>January 2023<span class="_ _5"/>, it <span class="_ _5"/>was announced that<span class="_ _5"/> the Group <span class="_ _5"/>would move to<span class="_ _5"/>wards a singular<span class="_ _5"/> and unified br<span class="_ _5"/>and by inte<span class="_ _5"/>grating the Maersk br<span class="_ _5"/>ands.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Existing brands w<span class="_ _5"/>ere retir<span class="_ _5"/>ed during Q1 2023,<span class="_ _5"/> resulting in<span class="_ _5"/> the reco<span class="_ _5"/>gnition of impairment losses of <span class="_ _5"/>the full carrying amount of each r<span class="_ _5"/>espective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">retir<span class="_ _5"/>ed brand on <span class="_ _5"/>the balance sheet. <span class="_ _5"/>T<span class="_ _5"/>otal impairment<span class="_ _5"/> losses related <span class="_ _5"/>to the retir<span class="_ _5"/>ement of br<span class="_ _5"/>ands in 2023 reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is USD 299m, o<span class="_ _5"/>f which USD 297<span class="_ _5"/>m is within Ocean and USD 2m<span class="_ _5"/> is within Logistics &amp; Services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span> <span class="_ _f"/>SIGNIFICANT<span class="_ _5"/> ACCOUNTING ESTIMA<span class="_ _5"/>TES AND JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _5"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _5"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _5"/> the determination of cash-<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units to which<span class="_ _5"/> goodwill is allocat<span class="_ _5"/>ed for<span class="_ _5"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>testing and in the selection<span class="_ _5"/> of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _5"/>tests.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The determination<span class="_ _5"/> of cash-generating units diff<span class="_ _5"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _5"/>ea. Ocean<span class="_ _5"/> operat<span class="_ _5"/>es its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessels and hub <span class="_ _5"/>terminals in an int<span class="_ _5"/>egra<span class="_ _5"/>ted net-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">work. Consequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the Ocean activities ar<span class="_ _5"/>e tested f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment as a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Logistics &amp; Services, including first<span class="_ _5"/>-mile activities,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> Management<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _5"/>gistics &amp; Services products as an inte<span class="_ _5"/>grat<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _5"/>with the activities <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _5"/>ating unit. In <span class="_ _5"/>T<span class="_ _0"/>erminals, each <span class="_ _5"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is considered an individual cash-g<span class="_ _5"/>enerating unit<span class="_ _5"/> for<span class="_ _5"/> im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _5"/>tests,<span class="_ _5"/> except <span class="_ _5"/>when the capacity<span class="_ _5"/> is managed as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Unallocated items consists of sever<span class="_ _5"/>al individual busi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nesses,<span class="_ _5"/> including Maersk Container<span class="_ _5"/> Industry<span class="_ _5"/>, <span class="_ _5"/>which are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each considered one cash-g<span class="_ _5"/>enerating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _5"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _5"/>erable amount<span class="_ _5"/> of each cash-gener<span class="_ _5"/>ating unit is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determined based on <span class="_ _5"/>the higher of its <span class="_ _5"/>value in use and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. <span class="_ _5"/>The estimated v<span class="_ _5"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _5"/>ey assumptions f<span class="_ _5"/>or <span class="_ _5"/>the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _5"/> flows and applied discount f<span class="_ _5"/>actor<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Current mark<span class="_ _5"/>et v<span class="_ _5"/>alues for<span class="_ _5"/> vessels<span class="_ _5"/>, etc.,<span class="_ _5"/> are estima<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _5"/>ers.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The cash flow projections ar<span class="_ _5"/>e based on financial budgets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and business plans.<span class="_ _5"/> In nature<span class="_ _5"/>, <span class="_ _5"/>these projections are subject<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to judgement<span class="_ _5"/> and estimates that<span class="_ _5"/> are uncertain,<span class="_ _5"/> though </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on experience and external sour<span class="_ _5"/>ces wher<span class="_ _5"/>e available.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Centr<span class="_ _5"/>alised processes and invol<span class="_ _5"/>vement of corpor<span class="_ _5"/>ate func<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions ensure <span class="_ _5"/>that indices and data sour<span class="_ _5"/>ces are select<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consistently<span class="_ _5"/> while observing differ<span class="_ _5"/>ences in risks and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circumstances<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The discount<span class="_ _5"/> rat<span class="_ _5"/>es applied reflect <span class="_ _5"/>the time <span class="_ _5"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _5"/>well as the specific risks r<span class="_ _5"/>elated <span class="_ _5"/>to the under<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _5"/>, i.e<span class="_ _5"/>. pr<span class="_ _5"/>oject and/<span class="_ _5"/>or<span class="_ _5"/> country<span class="_ _5"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _5"/> Further<span class="_ _0"/>, any uncertain<span class="_ _5"/>ties reflecting past per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _5"/>variations in <span class="_ _5"/>the amount or<span class="_ _5"/> timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _5"/>ojected cash flows ar<span class="_ _5"/>e general<span class="_ _5"/>ly r<span class="_ _5"/>eflected in <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _5"/> tests is subject<span class="_ _5"/> to estimat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _5"/>e development<span class="_ _5"/> of freight r<span class="_ _5"/>ates and <span class="_ _5"/>volumes,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _5"/> ra<span class="_ _5"/>tes applied. Manag<span class="_ _5"/>ement </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _5"/>ey as<span class="_ _5"/>sumptions by considering past<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _5"/>l as market anal<span class="_ _5"/>ysis and future expec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _5"/> and demand tr<span class="_ _5"/>ends. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Further<span class="_ _0"/>, the <span class="_ _5"/>value in use calculation<span class="_ _5"/> is sensitive to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ate and <span class="_ _5"/>the terminal gr<span class="_ _5"/>owth r<span class="_ _5"/>ate.<span class="_ _5"/> V<span class="_ _5"/>alue in<span class="_ _5"/> use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _5"/>the expected future economic<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth r<span class="_ _5"/>ate and r<span class="_ _5"/>eplacement CAPEX during <span class="_ _5"/>the terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, <span class="_ _5"/>which is based on Management’<span class="_ _5"/>s plans and ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pectations for <span class="_ _5"/>the future.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The futur<span class="_ _5"/>e development in<span class="_ _5"/> freight r<span class="_ _5"/>ates is a significan<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _5"/> impacting the <span class="ff2 ws0">Ocean<span class="ff3"> segment in particular<span class="_ _5"/> and is </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _5"/>egional and global economic envir<span class="_ _5"/>onments, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _5"/>tterns,<span class="_ _5"/> and by industry<span class="_ _5"/>-specific tr<span class="_ _5"/>ends in respect<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _5"/>y and demand.<span class="_ _5"/> Freight r<span class="_ _5"/>ates con<span class="_ _5"/>tinued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to increase <span class="_ _5"/>throughout<span class="_ _5"/> the first hal<span class="_ _5"/>f of 2024 as a r<span class="_ _5"/>esult of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Red Sea situation.<span class="_ _5"/> The r<span class="_ _5"/>ates peak<span class="_ _5"/>ed in Q3 2024<span class="_ _5"/>, <span class="_ _5"/>then </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">partially<span class="_ _5"/> normalised and stabilised with supply<span class="_ _5"/> catching up.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The future de<span class="_ _5"/>velopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _5"/>actor<span class="_ _5"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across Maersk,<span class="_ _5"/> either<span class="_ _5"/> directly<span class="_ _5"/> on the bunk<span class="_ _5"/>er<span class="_ _5"/> oil price,<span class="_ _5"/> green </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel and its availability<span class="_ _5"/>,<span class="_ _5"/> or<span class="_ _5"/> indirectl<span class="_ _5"/>y thr<span class="_ _5"/>ough its impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on market<span class="_ _5"/> freight<span class="_ _5"/> rat<span class="_ _5"/>es charged <span class="_ _5"/>to customers.<span class="_ _5"/> Bunker<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">con <span class="_ _9"/>sumption increased thr<span class="_ _5"/>oughout 2024 <span class="_ _5"/>with re-r<span class="_ _5"/>outing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">south of Cape of Good Hope caused by<span class="_ _5"/> the situation in<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Red Sea/Gulf of <span class="_ _5"/>Aden.<span class="_ _5"/> However<span class="_ _0"/>, consumption is expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline in 2025<span class="_ _5"/>, driven<span class="_ _5"/> by fleet<span class="_ _5"/> outsourcing,<span class="_ _5"/> efficiency </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">improv<span class="_ _5"/>ements and the commencement<span class="_ _5"/> of Gemini Coop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eration from F<span class="_ _5"/>ebruary 2025.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span class="ff2 lse">Logistics &amp; Services<span class="ff3"> is impacted by<span class="_ _5"/> ra<span class="_ _5"/>tes and volumes </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _5"/>the Logistics &amp; Services product<span class="_ _5"/> lines,<span class="_ _5"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the <span class="_ _5"/>Air<span class="_ _5"/> and W<span class="_ _5"/>arehousing business<span class="_ _5"/>. <span class="_ _5"/>The future gr<span class="_ _5"/>owth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and productivity<span class="_ _5"/> of the Fulfil<span class="_ _5"/>led by Maersk pr<span class="_ _5"/>oduct r<span class="_ _5"/>ange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also considered a k<span class="_ _5"/>ey<span class="_ _5"/> assumption as volumes ar<span class="_ _5"/>e sensi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tive t<span class="_ _5"/>o the development<span class="_ _5"/> of the global economy<span class="_ _0"/>. Manage-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment considers <span class="_ _5"/>the future economic outlook and expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _5"/>om completed acquisitions when<span class="_ _5"/> determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _5"/>oductivity of F<span class="_ _5"/>ulfilled by<span class="_ _5"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals<span class="ff3 ws10"> located in oil-producing countries<span class="_ _5"/>, e.g.<span class="_ _5"/> Nigeria </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Brazil,<span class="_ _5"/> are indir<span class="_ _5"/>ectly<span class="_ _5"/> impacted by the de<span class="_ _5"/>velopment in oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prices and the consequences for<span class="_ _5"/> the respectiv<span class="_ _5"/>e countries’<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">economies,<span class="_ _5"/> which not onl<span class="_ _5"/>y affects volumes handled at<span class="_ _5"/> the <span class="_ _0"/><span class="ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminals,<span class="_ _5"/> but also for<span class="_ _5"/>eign exchange r<span class="_ _5"/>ates<span class="_ _5"/>. Continued eco<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic deterior<span class="_ _5"/>ation and a lack of cash r<span class="_ _5"/>epatriation opportu<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nities in certain oil-pr<span class="_ _5"/>oducing countries could also put pr<span class="_ _5"/>es<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure on the carrying amounts o<span class="_ _5"/>f individual terminals.<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reper<span class="_ _5"/>cussions of uncertainty in tr<span class="_ _5"/>ade policies and tariffs,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stemming from<span class="_ _5"/> geopolitical tensions,<span class="_ _5"/> may impact<span class="_ _5"/> port r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a few str<span class="_ _5"/>ate<span class="_ _5"/>gic regions.<span class="_ _5"/> The other<span class="_ _5"/> key<span class="_ _5"/> sensitivities impact<span class="_ _5"/><span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing T<span class="_ _0"/>erminals include container<span class="_ _5"/> moves,<span class="_ _5"/> rev<span class="_ _5"/>enue and cost per<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _5"/> and local port r<span class="_ _5"/>ates,<span class="_ _5"/> all of which<span class="_ _5"/> are impacted by<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">local economic outlook and competition,<span class="_ _5"/> as well as con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cession right e<span class="_ _5"/>xtensions and the discount r<span class="_ _5"/>ate applied.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inflation is also expect<span class="_ _5"/>ed to continue <span class="_ _5"/>to have a<span class="_ _5"/> high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _5"/>oss Maersk in 2025,<span class="_ _5"/> impacting both the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">count r<span class="_ _5"/>ate and <span class="_ _5"/>terminal growth<span class="_ _5"/> rat<span class="_ _5"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– results of<span class="_ _5"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="ff2">Ocean</span> cash flow projection<span class="_ _5"/> is based on the for<span class="_ _5"/>ecast </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _5"/> Q3 2024,<span class="_ _5"/> covering <span class="_ _5"/>the five-y<span class="_ _5"/>ear business plan<span class="_ _5"/> for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2025-29.<span class="_ _5"/> Management<span class="_ _5"/> applied an assumption of gro<span class="_ _5"/>wth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _5"/> a calculated t<span class="_ _5"/>erminal value <span class="_ _5"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _5"/>to 2.<span class="_ _0"/>1% (2.7%) p.a.<span class="_ _5"/> In the annual impairmen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _5"/> in November<span class="_ _5"/> 2024<span class="_ _5"/>, a pr<span class="_ _5"/>e-<span class="_ _5"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te of 9.3% (9<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> was applied.<span class="_ _5"/> The impairmen<span class="_ _5"/>t t<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was carried out c<span class="_ _5"/>onsidering Management’<span class="_ _5"/>s planned fleet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">renew<span class="_ _5"/>al progr<span class="_ _5"/>amme running until 2030<span class="_ _5"/>. <span class="_ _5"/>The impairment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test show<span class="_ _5"/>ed headroom between <span class="_ _5"/>the v<span class="_ _5"/>alue in use and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _5"/> The major<span class="_ _5"/> part of <span class="_ _5"/>the carrying amount is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _5"/>. Managemen<span class="_ _5"/>t is of the opinion<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s most significan<span class="_ _5"/>t goodwill componen<span class="_ _5"/>t relat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="ff2 ws0">Logistics &amp; Services<span class="ff3"> segment.<span class="_ _5"/> The annual impair<span class="_ _5"/>-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>test is based on <span class="_ _5"/>the estimated <span class="_ _5"/>value in use from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the five-<span class="_ _5"/>year<span class="_ _5"/> business plan for<span class="_ _5"/> 2025-29,<span class="_ _5"/> wher<span class="_ _5"/>e the v<span class="_ _5"/>ol<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ume and improv<span class="_ _5"/>ed margin gro<span class="_ _5"/>wth assumptions,<span class="_ _5"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>egion- <span class="_ _9"/>specific, r<span class="_ _5"/>eflect <span class="_ _5"/>the current e<span class="_ _5"/>xpectations for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the relev<span class="_ _5"/>ant period.<span class="_ _5"/> The applied <span class="_ _5"/>terminal gro<span class="_ _5"/>wth is 2.<span class="_ _5"/>1%<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(2.<span class="_ _5"/>7%). <span class="_ _5"/>A discoun<span class="_ _5"/>t r<span class="_ _5"/>ate of 8<span class="_ _5"/>.9% (9<span class="_ _5"/>.0%) p.a.<span class="_ _5"/> before <span class="_ _5"/>tax or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">8.<span class="_ _5"/>7% (8<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> after<span class="_ _5"/> tax was applied.<span class="_ _5"/> <span class="_ _5"/>The impairment <span class="_ _5"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> from <span class="_ _5"/>the value in use <span class="_ _5"/>to the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount.<span class="_ _5"/> Management is of <span class="_ _5"/>the opinion that<span class="_ _5"/> the assump-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> In <span class="_ _222"/><span class="ff2 ls0 ws0">T<span class="_ _5"/>erminals<span class="ff3">,<span class="_ _5"/> Management<span class="_ _5"/> assesses indicators of </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _5"/>easing volumes and based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _5"/> estimates <span class="_ _5"/>the recover<span class="_ _5"/>able amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual terminals <span class="_ _5"/>whereby<span class="_ _5"/> impairment indicators </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exist.<span class="_ _5"/> Management also <span class="_ _5"/>tests for<span class="_ _5"/> impairment of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _5"/>ating units (CGUs) to <span class="_ _5"/>which goodwill or<span class="_ _5"/> indef-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inite life intangible assets ar<span class="_ _5"/>e allocated.<span class="_ _5"/> <span class="_ _5"/>The cash flow </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">projections for<span class="_ _5"/> each <span class="_ _5"/>terminal cover<span class="_ _5"/> <span class="_ _5"/>the concession period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and extension options deemed lik<span class="_ _5"/>ely <span class="_ _5"/>to be exer<span class="_ _5"/>cised, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latter<span class="_ _5"/> of which is expect<span class="_ _5"/>ed to hav<span class="_ _5"/>e positive impact on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">replacement<span class="_ _5"/> volumes<span class="_ _5"/>. <span class="_ _5"/>The growth r<span class="_ _5"/>ates r<span class="_ _5"/>eflect curr<span class="_ _5"/>ent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> expectations for<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> period, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates applied ar<span class="_ _5"/>e between 7<span class="_ _0"/>.2% and 12.0% (7<span class="_ _0"/>.4% </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 12.<span class="_ _0"/>1%) p.a. after<span class="_ _5"/> tax.<span class="_ _5"/> <span class="_ _5"/>The impairment t<span class="_ _5"/>ests considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of disposal compar<span class="_ _5"/>ed to <span class="_ _5"/>the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount and r<span class="_ _5"/>esulted in impairmen<span class="_ _5"/>t losses on assets of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _5"/> across <span class="_ _5"/>two terminals amounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 42m in 202<span class="_ _5"/>4 (impairment losses of USD<span class="_ _5"/> 134m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across mul<span class="_ _5"/>tiple terminals in 2023<span class="_ _5"/>,<span class="_ _5"/> of which USD 94m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed to a CGU in<span class="_ _5"/> the Mediterr<span class="_ _5"/>anean), r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 3.2 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t. <span class="_ _5"/>The fair<span class="_ _5"/> v<span class="_ _5"/>alues of indi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vidual terminals ar<span class="_ _5"/>e measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disposal, <span class="_ _5"/>where the perspectiv<span class="_ _5"/>e of a potential buyer<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed. <span class="_ _5"/>The v<span class="_ _5"/>aluations (fair<span class="_ _5"/> v<span class="_ _5"/>alue level 3) are pr<span class="_ _5"/>epared </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by discoun<span class="_ _5"/>ting expected cash inflows and outflows f<span class="_ _5"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the period until concession end.<span class="_ _5"/> This includes e<span class="_ _5"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession extensions<span class="_ _5"/>, and costs and benefits r<span class="_ _5"/>elated <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restructuring and impr<span class="_ _5"/>ovement<span class="_ _5"/> projects that<span class="_ _5"/> a potential </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">buyer<span class="_ _5"/> can be assumed t<span class="_ _5"/>o undertake in or<span class="_ _5"/>der <span class="_ _5"/>to extr<span class="_ _5"/>act <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">best v<span class="_ _5"/>alue from the terminal.<span class="_ _5"/> Individual <span class="_ _8"/>country-specific </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates ar<span class="_ _5"/>e applied.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _5"/> ra<span class="_ _5"/>te as of 31 December<span class="_ _5"/> 2024 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _5"/>l other assumptions constan<span class="_ _5"/>t, <span class="_ _5"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> of USD 4.<span class="_ _0"/>1bn (USD 3.<span class="_ _5"/>9bn) between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue in use and the carrying amount.<span class="_ _5"/> The f<span class="_ _5"/>ollowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in assumptions r<span class="_ _5"/>eflect the r<span class="_ _5"/>elated impact<span class="_ _5"/> on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value in use and <span class="_ _5"/>thus the headr<span class="_ _5"/>oom for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are pr<span class="_ _5"/>epared with al<span class="_ _5"/>l other<span class="_ _5"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept<span class="_ _5"/> constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 570.123px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey Ocean CGU assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Change</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Effect on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value in use</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 570.111px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Growth in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal period</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.0bn</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate p.a. bef</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ore tax as of 31 Dec</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ember 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9.9%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.7bn</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.2 <span class="_"> </span>Pr<span class="_ _5"/>operty<span class="_ _0"/>, plant and equipment</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:381px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 0.0136718px; width: 39.9375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Production </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Construction </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0292968px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 12.0137px; width: 40.4531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">aircr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 62.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">facilities and </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 12.0137px; width: 36.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">work in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">con tainers, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 362.828px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 24.0137px; width: 63.2812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">progr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ess and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 323.094px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 398.172px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 431.578px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payments on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 455.484px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">account</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 72.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 569.449px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">42,961</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,948</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,540</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 102.352px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">936</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">237</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,278</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,451</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 117.357px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">242</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 572.25px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.223px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.029px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-43</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-324</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-58</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-425</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44,890</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,721</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,612</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">58,223</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.717px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 569.584px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">24,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,481</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 236.482px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,104</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,679</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.373px; width: 569.918px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 247.23px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 265.514px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 281.17px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">924</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,056</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.061px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 310.936px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-165</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 325.826px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,283</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,690</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29,978</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.623px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 370.514px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19,607</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,607</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,245</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 1.2bn r<span class="_ _5"/>elated t<span class="_ _5"/>o EU taxonomy<span class="_ _5"/>-aligned vessels,<span class="_ _5"/> including milestone payments f<span class="_ _5"/>or <span class="_ _5"/>the ordered dual-fuel <span class="_ _5"/>vessels,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and USD 533m rela<span class="_ _5"/>ted to solar<span class="_ _5"/> panels,<span class="_ _5"/> charging stations and electrified equipment additions<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essels and buildings etc.<span class="_ _5"/> with a carrying amount<span class="_ _5"/> of USD 140m (USD 784m) ha<span class="_ _5"/>ve been pledged as security f<span class="_ _5"/>or<span class="_ _5"/> loans <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 84m (USD 443m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:455.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 0.0136718px; width: 39.9375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365.422px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Production </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Construction </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0292968px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 12.0137px; width: 40.248px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">aircr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.969px; top: 12.0137px; width: 62.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">facilities and </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 458.141px; top: 12.0137px; width: 36.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">work in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">con tainers, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 363.422px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 24.0137px; width: 63.2812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">progr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ess and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 322.203px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 399.25px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payments on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 455.531px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">account</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 72.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 569.449px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">48,699</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,209</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,296</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">59,204</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.25px; top: 102.352px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,834</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,656</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 116.607px; width: 569.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.264px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,785</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,953</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 146.404px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals from companies sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.27px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,197</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">62</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">164</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,423</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.744px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">855</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,256</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-83</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,089</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 191.826px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.717px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">94</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.607px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42,961</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,948</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,540</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.389px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 266.279px; width: 569.596px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">26,966</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,039</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,010</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 281.17px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">506</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,606</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.061px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 247.23px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">140</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 310.201px; width: 570.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 325.842px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">163</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,709</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 339.998px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals from companies sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.27px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">62</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,713</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.639px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-781</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-37</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-818</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 370.529px; width: 570.012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 385.42px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 400.311px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 430.092px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 444.982px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18,844</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,584</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,059</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 638m is r<span class="_ _5"/>elated t<span class="_ _5"/>o EU taxonomy<span class="_ _5"/>-aligned vessels,<span class="_ _5"/> including milestone payments f<span class="_ _5"/>or <span class="_ _5"/>the ordered dual-fuel <span class="_ _5"/>vessels,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and USD 386m rela<span class="_ _5"/>ted to solar<span class="_ _5"/> panels,<span class="_ _5"/> charging stations and electrified equipment additions<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:130.611328125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 433.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised on property</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> plant and equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> are specified as f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ollows:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 306.141px; top: 26.1074px; width: 267.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Reversal of impairmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 50.7793px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-generating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.4512px; width: 572.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.572px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 12 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.3418px; width: 572.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Lo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1815px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 9 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 6 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.232px; width: 156.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 156.059px; top: 105.232px; width: 415.975px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arious terminals</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 42 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 134 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 7 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.4002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 73 </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.123px; width: 571.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 51 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 140 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 7 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 85 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment anal<span class="_ _5"/>ysis</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> more information<span class="_ _5"/> on impairment <span class="_ _5"/>tests,<span class="_ _5"/> including sensitivities for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>, r<span class="_ _5"/>efer<span class="_ _5"/> t<span class="_ _5"/>o note 3.<span class="_ _0"/>1 intangible assets.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful life and residual <span class="_ _5"/>values</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful lives are estima<span class="_ _5"/>ted annually<span class="_ _5"/> based on experience.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset’<span class="_ _5"/>s useful life changes,<span class="_ _5"/> Management<span class="_ _5"/> revises </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the estimates for<span class="_ _5"/> individual assets or<span class="_ _5"/> groups of as<span class="_ _5"/>sets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">similar<span class="_ _5"/> characteristics due <span class="_ _5"/>to factors such<span class="_ _5"/> as quality of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">maintenance and r<span class="_ _5"/>epair<span class="_ _5"/>,<span class="_ _5"/> technical de<span class="_ _5"/>velopment, or<span class="_ _5"/> envir<span class="_ _5"/>on-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mental requir<span class="_ _5"/>ements.<span class="_ _5"/> Management has also consider<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the impact of decarbonisation and clima<span class="_ _5"/>te- <span class="_ _9"/>related risks on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the useful lives of existing assets.<span class="_ _5"/> Such risks include new </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _5"/>elated legislation r<span class="_ _5"/>estricting the use of certain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets,<span class="_ _5"/> new technolo<span class="_ _5"/>gy demanded by climat<span class="_ _5"/>e- <span class="_ _9"/>related leg-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">islation and the incr<span class="_ _5"/>ease in rest<span class="_ _5"/>oration<span class="_ _5"/> costs for<span class="_ _5"/> terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sites due t<span class="_ _5"/>o new and/<span class="_ _5"/>or mor<span class="_ _5"/>e comprehensiv<span class="_ _5"/>e policies. <span class="_ _5"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">useful lives of v<span class="_ _5"/>essels and related assets <span class="_ _5"/>that oper<span class="_ _5"/>ate on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bunker<span class="_ _5"/> fuel have been<span class="_ _5"/> considered in conjunction <span class="_ _5"/>with the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net<span class="_ _5"/>-zer<span class="_ _5"/>o by 2040 <span class="_ _5"/>target.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Residual v<span class="_ _5"/>alues of vessels ar<span class="_ _5"/>e difficult <span class="_ _5"/>to estimate given<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _5"/> long useful lives,<span class="_ _5"/> the uncertainty<span class="_ _5"/> of future economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions,<span class="_ _5"/> the mark<span class="_ _5"/>et for<span class="_ _5"/> conven<span class="_ _5"/>tional fuel vessels and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the uncertainty of futur<span class="_ _5"/>e steel prices,<span class="_ _5"/> which is consider<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the main determinant<span class="_ _5"/> of the r<span class="_ _5"/>esidual value.<span class="_ _5"/> <span class="_ _5"/>Additionally<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the acceler<span class="_ _5"/>ation of development<span class="_ _5"/> of vessels <span class="_ _5"/>with a lower<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carbon footprint<span class="_ _5"/> may gener<span class="_ _5"/>ate down<span class="_ _5"/>ward pr<span class="_ _5"/>essure on <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> for<span class="_ _5"/> second-hand conventional fuel <span class="_ _5"/>vessels.<span class="_ _5"/> Gener-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ally<span class="_ _5"/>,<span class="_ _5"/> the r<span class="_ _5"/>esidual v<span class="_ _5"/>alues of vessels ar<span class="_ _5"/>e initially<span class="_ _5"/> estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at 10% of <span class="_ _5"/>the purchase price ex<span class="_ _5"/>cluding dry-docking costs.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.<span class="_ _8"/>3 <span class="_ _57"> </span>Depr<span class="_ _5"/>eciation, amortisation and impairmen<span class="_ _5"/>t losses, net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal depreciation </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,783</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,856</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 387.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal impairment, net </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.439px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation, amortisation and impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,220</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,615</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Depreciation is r<span class="_ _5"/>elated <span class="_ _5"/>to property<span class="_ _5"/>,<span class="_ _5"/> plant<span class="_ _5"/> and equipment of USD 2.<span class="_ _5"/>7bn (USD 2.<span class="_ _5"/>6bn) and to right<span class="_ _5"/>-of-use assets of USD 3<span class="_ _5"/>.<span class="_ _0"/>1bn </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(USD 3<span class="_ _5"/>.3bn). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> T<span class="_ _0"/>otal net impairments ar<span class="_ _5"/>e primarily r<span class="_ _5"/>elated <span class="_ _5"/>to property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t of USD 44m (USD<span class="_ _5"/> 55m) and intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets of USD 1m (USD 322m).<span class="_ _5"/> Refer<span class="_ _5"/> <span class="_ _5"/>to note 3<span class="_ _5"/>.<span class="_ _5"/>1 in<span class="_ _5"/>tangible assets and note 3.2 pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 2.4 <span class="_ _215"> </span>Gains on sale of non-current assets, e<span class="_ _5"/>tc., net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 448.335px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">305</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">565</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 448.748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">83</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on sale of non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets, etc., net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 258.475px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">222</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">523</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Gains in 2024 ar<span class="_ _5"/>e primarily r<span class="_ _5"/>elated <span class="_ _5"/>to the sale of containers of USD<span class="_ _5"/> 77m<span class="_ _5"/> (USD 127m),<span class="_ _5"/> the sale of <span class="_ _5"/>vessels of USD 192m<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(USD 181m) and gains on <span class="_ _5"/>termination of leases of USD<span class="_ _5"/> 10m (USD 29m).<span class="_ _5"/> In 2023,<span class="_ _5"/> the gains included <span class="_ _5"/>the sale of US Marine </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management Inc.<span class="_ _5"/> of USD 92m,<span class="_ _5"/> the sale of shar<span class="_ _5"/>es in Höegh <span class="_ _5"/>Autoliners <span class="_ _5"/>A/S of USD 57<span class="_ _5"/>m and <span class="_ _5"/>the sale of Maersk Supply<span class="_ _5"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service of USD 15m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Losses in 2024 ar<span class="_ _5"/>e primarily<span class="_ _5"/> related <span class="_ _5"/>to the sale of containers USD<span class="_ _5"/> 23m (USD 22m) and a change in <span class="_ _5"/>the provision<span class="_ _5"/> for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indemnities relat<span class="_ _5"/>ed to sale of assets in pr<span class="_ _5"/>evious y<span class="_ _5"/>ears of USD 26m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.2 <span class="_"> </span>Pr<span class="_ _5"/>operty<span class="_ _0"/>, plant and equipment</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:381px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 0.0136718px; width: 39.9375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Production </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Construction </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0292968px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 12.0137px; width: 40.4531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">aircr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 62.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">facilities and </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 12.0137px; width: 36.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">work in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">con tainers, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 362.828px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 24.0137px; width: 63.2812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">progr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ess and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 323.094px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 398.172px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 431.578px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payments on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 455.484px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">account</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 72.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 569.449px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">42,961</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,948</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,540</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 102.352px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">936</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">237</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,278</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,451</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 117.357px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">242</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 572.25px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.223px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.029px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-43</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-324</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-58</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-425</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44,890</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,721</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,612</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">58,223</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.717px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 569.584px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">24,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,481</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 236.482px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,104</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,679</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.373px; width: 569.918px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 247.23px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">51</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 265.514px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 281.17px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">924</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,056</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.061px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 310.936px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-165</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 325.826px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,283</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,690</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29,978</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.623px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 370.514px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19,607</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,607</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,245</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 1.2bn r<span class="_ _5"/>elated t<span class="_ _5"/>o EU taxonomy<span class="_ _5"/>-aligned vessels,<span class="_ _5"/> including milestone payments f<span class="_ _5"/>or <span class="_ _5"/>the ordered dual-fuel <span class="_ _5"/>vessels,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and USD 533m rela<span class="_ _5"/>ted to solar<span class="_ _5"/> panels,<span class="_ _5"/> charging stations and electrified equipment additions<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essels and buildings etc.<span class="_ _5"/> with a carrying amount<span class="_ _5"/> of USD 140m (USD 784m) ha<span class="_ _5"/>ve been pledged as security f<span class="_ _5"/>or<span class="_ _5"/> loans <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 84m (USD 443m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:455.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 0.0136718px; width: 39.9375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365.422px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Production </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Construction </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0292968px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 12.0137px; width: 40.248px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">aircr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.969px; top: 12.0137px; width: 62.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">facilities and </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 458.141px; top: 12.0137px; width: 36.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">work in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">con tainers, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 363.422px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 24.0137px; width: 63.2812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">progr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ess and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 322.203px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 399.25px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 432.672px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payments on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 455.531px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">account</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 72.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 569.449px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">48,699</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,209</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,296</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">59,204</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.25px; top: 102.352px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,834</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,656</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 116.607px; width: 569.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.264px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,785</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,953</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 146.404px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals from companies sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.27px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,197</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">62</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">164</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,423</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.744px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">855</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,256</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-83</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,089</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 191.826px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.717px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">94</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.607px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42,961</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,948</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55,540</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.389px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 266.279px; width: 569.596px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">26,966</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,039</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,010</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 281.17px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">506</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,606</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 296.061px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 247.23px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">140</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 310.201px; width: 570.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 325.842px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">163</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,709</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 339.998px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals from companies sold</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.27px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">62</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,713</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.639px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-781</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-37</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-818</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 370.529px; width: 570.012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reclassification fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om/to right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 385.42px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 400.311px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 430.092px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 444.982px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18,844</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,584</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,631</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,059</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 638m is r<span class="_ _5"/>elated t<span class="_ _5"/>o EU taxonomy<span class="_ _5"/>-aligned vessels,<span class="_ _5"/> including milestone payments f<span class="_ _5"/>or <span class="_ _5"/>the ordered dual-fuel <span class="_ _5"/>vessels,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and USD 386m rela<span class="_ _5"/>ted to solar<span class="_ _5"/> panels,<span class="_ _5"/> charging stations and electrified equipment additions<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:130.611328125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 433.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised on property</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> plant and equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> are specified as f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ollows:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 306.141px; top: 26.1074px; width: 267.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Reversal of impairmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 50.7793px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-generating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.4512px; width: 572.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.572px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 12 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.3418px; width: 572.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Lo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1815px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 9 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 6 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.232px; width: 156.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 156.059px; top: 105.232px; width: 415.975px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arious terminals</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 42 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 134 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 7 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.4002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 73 </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.123px; width: 571.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 51 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 140 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 7 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 85 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment anal<span class="_ _5"/>ysis</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> more information<span class="_ _5"/> on impairment <span class="_ _5"/>tests,<span class="_ _5"/> including sensitivities for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>, r<span class="_ _5"/>efer<span class="_ _5"/> t<span class="_ _5"/>o note 3.<span class="_ _0"/>1 intangible assets.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful life and residual <span class="_ _5"/>values</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful lives are estima<span class="_ _5"/>ted annually<span class="_ _5"/> based on experience.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset’<span class="_ _5"/>s useful life changes,<span class="_ _5"/> Management<span class="_ _5"/> revises </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the estimates for<span class="_ _5"/> individual assets or<span class="_ _5"/> groups of as<span class="_ _5"/>sets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">similar<span class="_ _5"/> characteristics due <span class="_ _5"/>to factors such<span class="_ _5"/> as quality of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">maintenance and r<span class="_ _5"/>epair<span class="_ _5"/>,<span class="_ _5"/> technical de<span class="_ _5"/>velopment, or<span class="_ _5"/> envir<span class="_ _5"/>on-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mental requir<span class="_ _5"/>ements.<span class="_ _5"/> Management has also consider<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the impact of decarbonisation and clima<span class="_ _5"/>te- <span class="_ _9"/>related risks on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the useful lives of existing assets.<span class="_ _5"/> Such risks include new </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _5"/>elated legislation r<span class="_ _5"/>estricting the use of certain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets,<span class="_ _5"/> new technolo<span class="_ _5"/>gy demanded by climat<span class="_ _5"/>e- <span class="_ _9"/>related leg-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">islation and the incr<span class="_ _5"/>ease in rest<span class="_ _5"/>oration<span class="_ _5"/> costs for<span class="_ _5"/> terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sites due t<span class="_ _5"/>o new and/<span class="_ _5"/>or mor<span class="_ _5"/>e comprehensiv<span class="_ _5"/>e policies. <span class="_ _5"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">useful lives of v<span class="_ _5"/>essels and related assets <span class="_ _5"/>that oper<span class="_ _5"/>ate on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bunker<span class="_ _5"/> fuel have been<span class="_ _5"/> considered in conjunction <span class="_ _5"/>with the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net<span class="_ _5"/>-zer<span class="_ _5"/>o by 2040 <span class="_ _5"/>target.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Residual v<span class="_ _5"/>alues of vessels ar<span class="_ _5"/>e difficult <span class="_ _5"/>to estimate given<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _5"/> long useful lives,<span class="_ _5"/> the uncertainty<span class="_ _5"/> of future economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions,<span class="_ _5"/> the mark<span class="_ _5"/>et for<span class="_ _5"/> conven<span class="_ _5"/>tional fuel vessels and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the uncertainty of futur<span class="_ _5"/>e steel prices,<span class="_ _5"/> which is consider<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the main determinant<span class="_ _5"/> of the r<span class="_ _5"/>esidual value.<span class="_ _5"/> <span class="_ _5"/>Additionally<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the acceler<span class="_ _5"/>ation of development<span class="_ _5"/> of vessels <span class="_ _5"/>with a lower<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carbon footprint<span class="_ _5"/> may gener<span class="_ _5"/>ate down<span class="_ _5"/>ward pr<span class="_ _5"/>essure on <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> for<span class="_ _5"/> second-hand conventional fuel <span class="_ _5"/>vessels.<span class="_ _5"/> Gener-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ally<span class="_ _5"/>,<span class="_ _5"/> the r<span class="_ _5"/>esidual v<span class="_ _5"/>alues of vessels ar<span class="_ _5"/>e initially<span class="_ _5"/> estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at 10% of <span class="_ _5"/>the purchase price ex<span class="_ _5"/>cluding dry-docking costs.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>1 <span class="_ _215"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:309.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 222.703px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.609px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 439.828px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">260</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.232px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.576px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.123px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,044</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,637</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 569.479px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.686px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">157</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.576px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.467px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.357px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-48</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.248px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,014</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">693</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,396</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.029px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.578px; top: 298.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 387.328px; top: 298.982px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,944</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">720</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.92px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,030</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 298.982px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,824</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 7<span class="_ _5"/>6m is under de<span class="_ _5"/>velopment. USD 32m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 71m hav<span class="_ _5"/>e restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 185m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 355.359px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.938px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.844px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,554</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,985</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,043</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,371</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,953</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">204</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 166.25px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 166.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 259.297px; top: 105.357px; width: 310.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">234</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">642</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-356</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.717px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.592px; width: 569.848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">349</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">824</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,168</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">299</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">322</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-297</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.516px; top: 343.523px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 343.654px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">752</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 533.547px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,124</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Acquisition of Martin Bencher<span class="_ _5"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 49m is under de<span class="_ _5"/>velopment. USD 34m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 70m<span class="_ _5"/> have restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 162m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>1 <span class="_ _215"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:309.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 222.703px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.609px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 439.828px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">260</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.232px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.576px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.123px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,044</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,637</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 569.479px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.686px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">157</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.576px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.467px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.357px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-48</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.248px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,014</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">693</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,396</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.029px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.578px; top: 298.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 387.328px; top: 298.982px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,944</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">720</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.92px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,030</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 298.982px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,824</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 7<span class="_ _5"/>6m is under de<span class="_ _5"/>velopment. USD 32m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 71m hav<span class="_ _5"/>e restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 185m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 355.359px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.938px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.844px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,554</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,985</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,043</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,371</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,953</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">204</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 166.25px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 166.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 259.297px; top: 105.357px; width: 310.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">234</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">642</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-356</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.717px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.592px; width: 569.848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">349</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">824</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,168</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">299</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">322</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-297</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.516px; top: 343.523px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 343.654px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">752</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 533.547px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,124</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Acquisition of Martin Bencher<span class="_ _5"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 49m is under de<span class="_ _5"/>velopment. USD 34m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 70m<span class="_ _5"/> have restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 162m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.906px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill carrying amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 572.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 316 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 572.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 4,599 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.854px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Multiple terminals </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.172px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 241</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Others</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 438.551px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5,161</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.421875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 49.2422px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 572.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 319 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 64.1328px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.2637px; width: 572.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.301px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1543px; width: 161.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.578px; top: 79.1543px; width: 410.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arious terminals</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 571.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Maersk Container Industry</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 572.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 459.169px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 322 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>On 27 <span class="_ _5"/>January 2023<span class="_ _5"/>, it <span class="_ _5"/>was announced that<span class="_ _5"/> the Group <span class="_ _5"/>would move to<span class="_ _5"/>wards a singular<span class="_ _5"/> and unified br<span class="_ _5"/>and by inte<span class="_ _5"/>grating the Maersk br<span class="_ _5"/>ands.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Existing brands w<span class="_ _5"/>ere retir<span class="_ _5"/>ed during Q1 2023,<span class="_ _5"/> resulting in<span class="_ _5"/> the reco<span class="_ _5"/>gnition of impairment losses of <span class="_ _5"/>the full carrying amount of each r<span class="_ _5"/>espective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">retir<span class="_ _5"/>ed brand on <span class="_ _5"/>the balance sheet. <span class="_ _5"/>T<span class="_ _5"/>otal impairment<span class="_ _5"/> losses related <span class="_ _5"/>to the retir<span class="_ _5"/>ement of br<span class="_ _5"/>ands in 2023 reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is USD 299m, o<span class="_ _5"/>f which USD 297<span class="_ _5"/>m is within Ocean and USD 2m<span class="_ _5"/> is within Logistics &amp; Services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span> <span class="_ _f"/>SIGNIFICANT<span class="_ _5"/> ACCOUNTING ESTIMA<span class="_ _5"/>TES AND JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _5"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _5"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _5"/> the determination of cash-<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units to which<span class="_ _5"/> goodwill is allocat<span class="_ _5"/>ed for<span class="_ _5"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>testing and in the selection<span class="_ _5"/> of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _5"/>tests.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The determination<span class="_ _5"/> of cash-generating units diff<span class="_ _5"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _5"/>ea. Ocean<span class="_ _5"/> operat<span class="_ _5"/>es its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessels and hub <span class="_ _5"/>terminals in an int<span class="_ _5"/>egra<span class="_ _5"/>ted net-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">work. Consequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the Ocean activities ar<span class="_ _5"/>e tested f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment as a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Logistics &amp; Services, including first<span class="_ _5"/>-mile activities,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> Management<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _5"/>gistics &amp; Services products as an inte<span class="_ _5"/>grat<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _5"/>with the activities <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _5"/>ating unit. In <span class="_ _5"/>T<span class="_ _0"/>erminals, each <span class="_ _5"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is considered an individual cash-g<span class="_ _5"/>enerating unit<span class="_ _5"/> for<span class="_ _5"/> im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _5"/>tests,<span class="_ _5"/> except <span class="_ _5"/>when the capacity<span class="_ _5"/> is managed as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Unallocated items consists of sever<span class="_ _5"/>al individual busi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nesses,<span class="_ _5"/> including Maersk Container<span class="_ _5"/> Industry<span class="_ _5"/>, <span class="_ _5"/>which are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each considered one cash-g<span class="_ _5"/>enerating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _5"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _5"/>erable amount<span class="_ _5"/> of each cash-gener<span class="_ _5"/>ating unit is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determined based on <span class="_ _5"/>the higher of its <span class="_ _5"/>value in use and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. <span class="_ _5"/>The estimated v<span class="_ _5"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _5"/>ey assumptions f<span class="_ _5"/>or <span class="_ _5"/>the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _5"/> flows and applied discount f<span class="_ _5"/>actor<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Current mark<span class="_ _5"/>et v<span class="_ _5"/>alues for<span class="_ _5"/> vessels<span class="_ _5"/>, etc.,<span class="_ _5"/> are estima<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _5"/>ers.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The cash flow projections ar<span class="_ _5"/>e based on financial budgets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and business plans.<span class="_ _5"/> In nature<span class="_ _5"/>, <span class="_ _5"/>these projections are subject<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to judgement<span class="_ _5"/> and estimates that<span class="_ _5"/> are uncertain,<span class="_ _5"/> though </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on experience and external sour<span class="_ _5"/>ces wher<span class="_ _5"/>e available.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Centr<span class="_ _5"/>alised processes and invol<span class="_ _5"/>vement of corpor<span class="_ _5"/>ate func<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions ensure <span class="_ _5"/>that indices and data sour<span class="_ _5"/>ces are select<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consistently<span class="_ _5"/> while observing differ<span class="_ _5"/>ences in risks and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circumstances<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The discount<span class="_ _5"/> rat<span class="_ _5"/>es applied reflect <span class="_ _5"/>the time <span class="_ _5"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _5"/>well as the specific risks r<span class="_ _5"/>elated <span class="_ _5"/>to the under<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _5"/>, i.e<span class="_ _5"/>. pr<span class="_ _5"/>oject and/<span class="_ _5"/>or<span class="_ _5"/> country<span class="_ _5"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _5"/> Further<span class="_ _0"/>, any uncertain<span class="_ _5"/>ties reflecting past per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _5"/>variations in <span class="_ _5"/>the amount or<span class="_ _5"/> timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _5"/>ojected cash flows ar<span class="_ _5"/>e general<span class="_ _5"/>ly r<span class="_ _5"/>eflected in <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _5"/> tests is subject<span class="_ _5"/> to estimat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _5"/>e development<span class="_ _5"/> of freight r<span class="_ _5"/>ates and <span class="_ _5"/>volumes,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _5"/> ra<span class="_ _5"/>tes applied. Manag<span class="_ _5"/>ement </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _5"/>ey as<span class="_ _5"/>sumptions by considering past<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _5"/>l as market anal<span class="_ _5"/>ysis and future expec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _5"/> and demand tr<span class="_ _5"/>ends. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Further<span class="_ _0"/>, the <span class="_ _5"/>value in use calculation<span class="_ _5"/> is sensitive to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ate and <span class="_ _5"/>the terminal gr<span class="_ _5"/>owth r<span class="_ _5"/>ate.<span class="_ _5"/> V<span class="_ _5"/>alue in<span class="_ _5"/> use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _5"/>the expected future economic<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth r<span class="_ _5"/>ate and r<span class="_ _5"/>eplacement CAPEX during <span class="_ _5"/>the terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, <span class="_ _5"/>which is based on Management’<span class="_ _5"/>s plans and ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pectations for <span class="_ _5"/>the future.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The futur<span class="_ _5"/>e development in<span class="_ _5"/> freight r<span class="_ _5"/>ates is a significan<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _5"/> impacting the <span class="ff2 ws0">Ocean<span class="ff3"> segment in particular<span class="_ _5"/> and is </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _5"/>egional and global economic envir<span class="_ _5"/>onments, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _5"/>tterns,<span class="_ _5"/> and by industry<span class="_ _5"/>-specific tr<span class="_ _5"/>ends in respect<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _5"/>y and demand.<span class="_ _5"/> Freight r<span class="_ _5"/>ates con<span class="_ _5"/>tinued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to increase <span class="_ _5"/>throughout<span class="_ _5"/> the first hal<span class="_ _5"/>f of 2024 as a r<span class="_ _5"/>esult of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Red Sea situation.<span class="_ _5"/> The r<span class="_ _5"/>ates peak<span class="_ _5"/>ed in Q3 2024<span class="_ _5"/>, <span class="_ _5"/>then </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">partially<span class="_ _5"/> normalised and stabilised with supply<span class="_ _5"/> catching up.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The future de<span class="_ _5"/>velopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _5"/>actor<span class="_ _5"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across Maersk,<span class="_ _5"/> either<span class="_ _5"/> directly<span class="_ _5"/> on the bunk<span class="_ _5"/>er<span class="_ _5"/> oil price,<span class="_ _5"/> green </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel and its availability<span class="_ _5"/>,<span class="_ _5"/> or<span class="_ _5"/> indirectl<span class="_ _5"/>y thr<span class="_ _5"/>ough its impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on market<span class="_ _5"/> freight<span class="_ _5"/> rat<span class="_ _5"/>es charged <span class="_ _5"/>to customers.<span class="_ _5"/> Bunker<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">con <span class="_ _9"/>sumption increased thr<span class="_ _5"/>oughout 2024 <span class="_ _5"/>with re-r<span class="_ _5"/>outing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">south of Cape of Good Hope caused by<span class="_ _5"/> the situation in<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Red Sea/Gulf of <span class="_ _5"/>Aden.<span class="_ _5"/> However<span class="_ _0"/>, consumption is expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline in 2025<span class="_ _5"/>, driven<span class="_ _5"/> by fleet<span class="_ _5"/> outsourcing,<span class="_ _5"/> efficiency </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">improv<span class="_ _5"/>ements and the commencement<span class="_ _5"/> of Gemini Coop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eration from F<span class="_ _5"/>ebruary 2025.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span class="ff2 lse">Logistics &amp; Services<span class="ff3"> is impacted by<span class="_ _5"/> ra<span class="_ _5"/>tes and volumes </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _5"/>the Logistics &amp; Services product<span class="_ _5"/> lines,<span class="_ _5"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the <span class="_ _5"/>Air<span class="_ _5"/> and W<span class="_ _5"/>arehousing business<span class="_ _5"/>. <span class="_ _5"/>The future gr<span class="_ _5"/>owth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and productivity<span class="_ _5"/> of the Fulfil<span class="_ _5"/>led by Maersk pr<span class="_ _5"/>oduct r<span class="_ _5"/>ange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also considered a k<span class="_ _5"/>ey<span class="_ _5"/> assumption as volumes ar<span class="_ _5"/>e sensi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tive t<span class="_ _5"/>o the development<span class="_ _5"/> of the global economy<span class="_ _0"/>. Manage-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment considers <span class="_ _5"/>the future economic outlook and expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _5"/>om completed acquisitions when<span class="_ _5"/> determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _5"/>oductivity of F<span class="_ _5"/>ulfilled by<span class="_ _5"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals<span class="ff3 ws10"> located in oil-producing countries<span class="_ _5"/>, e.g.<span class="_ _5"/> Nigeria </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Brazil,<span class="_ _5"/> are indir<span class="_ _5"/>ectly<span class="_ _5"/> impacted by the de<span class="_ _5"/>velopment in oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prices and the consequences for<span class="_ _5"/> the respectiv<span class="_ _5"/>e countries’<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">economies,<span class="_ _5"/> which not onl<span class="_ _5"/>y affects volumes handled at<span class="_ _5"/> the <span class="_ _0"/><span class="ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminals,<span class="_ _5"/> but also for<span class="_ _5"/>eign exchange r<span class="_ _5"/>ates<span class="_ _5"/>. Continued eco<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic deterior<span class="_ _5"/>ation and a lack of cash r<span class="_ _5"/>epatriation opportu<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nities in certain oil-pr<span class="_ _5"/>oducing countries could also put pr<span class="_ _5"/>es<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure on the carrying amounts o<span class="_ _5"/>f individual terminals.<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reper<span class="_ _5"/>cussions of uncertainty in tr<span class="_ _5"/>ade policies and tariffs,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stemming from<span class="_ _5"/> geopolitical tensions,<span class="_ _5"/> may impact<span class="_ _5"/> port r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a few str<span class="_ _5"/>ate<span class="_ _5"/>gic regions.<span class="_ _5"/> The other<span class="_ _5"/> key<span class="_ _5"/> sensitivities impact<span class="_ _5"/><span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing T<span class="_ _0"/>erminals include container<span class="_ _5"/> moves,<span class="_ _5"/> rev<span class="_ _5"/>enue and cost per<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _5"/> and local port r<span class="_ _5"/>ates,<span class="_ _5"/> all of which<span class="_ _5"/> are impacted by<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">local economic outlook and competition,<span class="_ _5"/> as well as con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cession right e<span class="_ _5"/>xtensions and the discount r<span class="_ _5"/>ate applied.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inflation is also expect<span class="_ _5"/>ed to continue <span class="_ _5"/>to have a<span class="_ _5"/> high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _5"/>oss Maersk in 2025,<span class="_ _5"/> impacting both the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">count r<span class="_ _5"/>ate and <span class="_ _5"/>terminal growth<span class="_ _5"/> rat<span class="_ _5"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– results of<span class="_ _5"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="ff2">Ocean</span> cash flow projection<span class="_ _5"/> is based on the for<span class="_ _5"/>ecast </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _5"/> Q3 2024,<span class="_ _5"/> covering <span class="_ _5"/>the five-y<span class="_ _5"/>ear business plan<span class="_ _5"/> for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2025-29.<span class="_ _5"/> Management<span class="_ _5"/> applied an assumption of gro<span class="_ _5"/>wth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _5"/> a calculated t<span class="_ _5"/>erminal value <span class="_ _5"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _5"/>to 2.<span class="_ _0"/>1% (2.7%) p.a.<span class="_ _5"/> In the annual impairmen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _5"/> in November<span class="_ _5"/> 2024<span class="_ _5"/>, a pr<span class="_ _5"/>e-<span class="_ _5"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te of 9.3% (9<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> was applied.<span class="_ _5"/> The impairmen<span class="_ _5"/>t t<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was carried out c<span class="_ _5"/>onsidering Management’<span class="_ _5"/>s planned fleet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">renew<span class="_ _5"/>al progr<span class="_ _5"/>amme running until 2030<span class="_ _5"/>. <span class="_ _5"/>The impairment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test show<span class="_ _5"/>ed headroom between <span class="_ _5"/>the v<span class="_ _5"/>alue in use and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _5"/> The major<span class="_ _5"/> part of <span class="_ _5"/>the carrying amount is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _5"/>. Managemen<span class="_ _5"/>t is of the opinion<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s most significan<span class="_ _5"/>t goodwill componen<span class="_ _5"/>t relat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="ff2 ws0">Logistics &amp; Services<span class="ff3"> segment.<span class="_ _5"/> The annual impair<span class="_ _5"/>-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>test is based on <span class="_ _5"/>the estimated <span class="_ _5"/>value in use from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the five-<span class="_ _5"/>year<span class="_ _5"/> business plan for<span class="_ _5"/> 2025-29,<span class="_ _5"/> wher<span class="_ _5"/>e the v<span class="_ _5"/>ol<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ume and improv<span class="_ _5"/>ed margin gro<span class="_ _5"/>wth assumptions,<span class="_ _5"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>egion- <span class="_ _9"/>specific, r<span class="_ _5"/>eflect <span class="_ _5"/>the current e<span class="_ _5"/>xpectations for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the relev<span class="_ _5"/>ant period.<span class="_ _5"/> The applied <span class="_ _5"/>terminal gro<span class="_ _5"/>wth is 2.<span class="_ _5"/>1%<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(2.<span class="_ _5"/>7%). <span class="_ _5"/>A discoun<span class="_ _5"/>t r<span class="_ _5"/>ate of 8<span class="_ _5"/>.9% (9<span class="_ _5"/>.0%) p.a.<span class="_ _5"/> before <span class="_ _5"/>tax or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">8.<span class="_ _5"/>7% (8<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> after<span class="_ _5"/> tax was applied.<span class="_ _5"/> <span class="_ _5"/>The impairment <span class="_ _5"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> from <span class="_ _5"/>the value in use <span class="_ _5"/>to the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount.<span class="_ _5"/> Management is of <span class="_ _5"/>the opinion that<span class="_ _5"/> the assump-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> In <span class="_ _222"/><span class="ff2 ls0 ws0">T<span class="_ _5"/>erminals<span class="ff3">,<span class="_ _5"/> Management<span class="_ _5"/> assesses indicators of </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _5"/>easing volumes and based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _5"/> estimates <span class="_ _5"/>the recover<span class="_ _5"/>able amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual terminals <span class="_ _5"/>whereby<span class="_ _5"/> impairment indicators </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exist.<span class="_ _5"/> Management also <span class="_ _5"/>tests for<span class="_ _5"/> impairment of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _5"/>ating units (CGUs) to <span class="_ _5"/>which goodwill or<span class="_ _5"/> indef-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inite life intangible assets ar<span class="_ _5"/>e allocated.<span class="_ _5"/> <span class="_ _5"/>The cash flow </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">projections for<span class="_ _5"/> each <span class="_ _5"/>terminal cover<span class="_ _5"/> <span class="_ _5"/>the concession period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and extension options deemed lik<span class="_ _5"/>ely <span class="_ _5"/>to be exer<span class="_ _5"/>cised, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latter<span class="_ _5"/> of which is expect<span class="_ _5"/>ed to hav<span class="_ _5"/>e positive impact on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">replacement<span class="_ _5"/> volumes<span class="_ _5"/>. <span class="_ _5"/>The growth r<span class="_ _5"/>ates r<span class="_ _5"/>eflect curr<span class="_ _5"/>ent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> expectations for<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> period, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates applied ar<span class="_ _5"/>e between 7<span class="_ _0"/>.2% and 12.0% (7<span class="_ _0"/>.4% </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 12.<span class="_ _0"/>1%) p.a. after<span class="_ _5"/> tax.<span class="_ _5"/> <span class="_ _5"/>The impairment t<span class="_ _5"/>ests considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of disposal compar<span class="_ _5"/>ed to <span class="_ _5"/>the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount and r<span class="_ _5"/>esulted in impairmen<span class="_ _5"/>t losses on assets of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _5"/> across <span class="_ _5"/>two terminals amounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 42m in 202<span class="_ _5"/>4 (impairment losses of USD<span class="_ _5"/> 134m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across mul<span class="_ _5"/>tiple terminals in 2023<span class="_ _5"/>,<span class="_ _5"/> of which USD 94m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed to a CGU in<span class="_ _5"/> the Mediterr<span class="_ _5"/>anean), r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 3.2 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t. <span class="_ _5"/>The fair<span class="_ _5"/> v<span class="_ _5"/>alues of indi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vidual terminals ar<span class="_ _5"/>e measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disposal, <span class="_ _5"/>where the perspectiv<span class="_ _5"/>e of a potential buyer<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed. <span class="_ _5"/>The v<span class="_ _5"/>aluations (fair<span class="_ _5"/> v<span class="_ _5"/>alue level 3) are pr<span class="_ _5"/>epared </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by discoun<span class="_ _5"/>ting expected cash inflows and outflows f<span class="_ _5"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the period until concession end.<span class="_ _5"/> This includes e<span class="_ _5"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession extensions<span class="_ _5"/>, and costs and benefits r<span class="_ _5"/>elated <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restructuring and impr<span class="_ _5"/>ovement<span class="_ _5"/> projects that<span class="_ _5"/> a potential </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">buyer<span class="_ _5"/> can be assumed t<span class="_ _5"/>o undertake in or<span class="_ _5"/>der <span class="_ _5"/>to extr<span class="_ _5"/>act <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">best v<span class="_ _5"/>alue from the terminal.<span class="_ _5"/> Individual <span class="_ _8"/>country-specific </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates ar<span class="_ _5"/>e applied.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _5"/> ra<span class="_ _5"/>te as of 31 December<span class="_ _5"/> 2024 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _5"/>l other assumptions constan<span class="_ _5"/>t, <span class="_ _5"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> of USD 4.<span class="_ _0"/>1bn (USD 3.<span class="_ _5"/>9bn) between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue in use and the carrying amount.<span class="_ _5"/> The f<span class="_ _5"/>ollowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in assumptions r<span class="_ _5"/>eflect the r<span class="_ _5"/>elated impact<span class="_ _5"/> on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value in use and <span class="_ _5"/>thus the headr<span class="_ _5"/>oom for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are pr<span class="_ _5"/>epared with al<span class="_ _5"/>l other<span class="_ _5"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept<span class="_ _5"/> constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 570.123px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey Ocean CGU assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Change</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Effect on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value in use</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 570.111px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Growth in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal period</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.0bn</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate p.a. bef</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ore tax as of 31 Dec</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ember 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9.9%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.7bn</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>1 <span class="_ _215"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:309.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 222.703px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.609px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 439.828px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">260</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.232px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.576px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.123px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,044</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,637</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 569.479px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.686px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">157</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.576px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.467px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.357px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-48</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.248px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,014</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">693</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,396</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.029px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.578px; top: 298.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 387.328px; top: 298.982px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,944</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">720</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.92px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,030</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 298.982px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,824</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 7<span class="_ _5"/>6m is under de<span class="_ _5"/>velopment. USD 32m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 71m hav<span class="_ _5"/>e restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 185m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 355.359px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.938px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.844px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,554</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,985</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,043</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,371</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,953</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">204</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 166.25px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 166.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 259.297px; top: 105.357px; width: 310.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">234</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">642</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-356</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.717px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.592px; width: 569.848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">349</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">824</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,168</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">299</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">322</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-297</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.516px; top: 343.523px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 343.654px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">752</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 533.547px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,124</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Acquisition of Martin Bencher<span class="_ _5"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 49m is under de<span class="_ _5"/>velopment. USD 34m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 70m<span class="_ _5"/> have restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 162m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.906px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill carrying amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 572.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 316 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 572.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 4,599 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.854px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Multiple terminals </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.172px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 241</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Others</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 438.551px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5,161</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.421875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 49.2422px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 572.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 319 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 64.1328px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.2637px; width: 572.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.301px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1543px; width: 161.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.578px; top: 79.1543px; width: 410.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arious terminals</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 571.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Maersk Container Industry</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 572.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 459.169px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 322 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>On 27 <span class="_ _5"/>January 2023<span class="_ _5"/>, it <span class="_ _5"/>was announced that<span class="_ _5"/> the Group <span class="_ _5"/>would move to<span class="_ _5"/>wards a singular<span class="_ _5"/> and unified br<span class="_ _5"/>and by inte<span class="_ _5"/>grating the Maersk br<span class="_ _5"/>ands.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Existing brands w<span class="_ _5"/>ere retir<span class="_ _5"/>ed during Q1 2023,<span class="_ _5"/> resulting in<span class="_ _5"/> the reco<span class="_ _5"/>gnition of impairment losses of <span class="_ _5"/>the full carrying amount of each r<span class="_ _5"/>espective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">retir<span class="_ _5"/>ed brand on <span class="_ _5"/>the balance sheet. <span class="_ _5"/>T<span class="_ _5"/>otal impairment<span class="_ _5"/> losses related <span class="_ _5"/>to the retir<span class="_ _5"/>ement of br<span class="_ _5"/>ands in 2023 reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is USD 299m, o<span class="_ _5"/>f which USD 297<span class="_ _5"/>m is within Ocean and USD 2m<span class="_ _5"/> is within Logistics &amp; Services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span> <span class="_ _f"/>SIGNIFICANT<span class="_ _5"/> ACCOUNTING ESTIMA<span class="_ _5"/>TES AND JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _5"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _5"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _5"/> the determination of cash-<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units to which<span class="_ _5"/> goodwill is allocat<span class="_ _5"/>ed for<span class="_ _5"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>testing and in the selection<span class="_ _5"/> of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _5"/>tests.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The determination<span class="_ _5"/> of cash-generating units diff<span class="_ _5"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _5"/>ea. Ocean<span class="_ _5"/> operat<span class="_ _5"/>es its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessels and hub <span class="_ _5"/>terminals in an int<span class="_ _5"/>egra<span class="_ _5"/>ted net-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">work. Consequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the Ocean activities ar<span class="_ _5"/>e tested f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment as a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Logistics &amp; Services, including first<span class="_ _5"/>-mile activities,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> Management<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _5"/>gistics &amp; Services products as an inte<span class="_ _5"/>grat<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _5"/>with the activities <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _5"/>ating unit. In <span class="_ _5"/>T<span class="_ _0"/>erminals, each <span class="_ _5"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is considered an individual cash-g<span class="_ _5"/>enerating unit<span class="_ _5"/> for<span class="_ _5"/> im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _5"/>tests,<span class="_ _5"/> except <span class="_ _5"/>when the capacity<span class="_ _5"/> is managed as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Unallocated items consists of sever<span class="_ _5"/>al individual busi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nesses,<span class="_ _5"/> including Maersk Container<span class="_ _5"/> Industry<span class="_ _5"/>, <span class="_ _5"/>which are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each considered one cash-g<span class="_ _5"/>enerating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _5"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _5"/>erable amount<span class="_ _5"/> of each cash-gener<span class="_ _5"/>ating unit is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determined based on <span class="_ _5"/>the higher of its <span class="_ _5"/>value in use and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. <span class="_ _5"/>The estimated v<span class="_ _5"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _5"/>ey assumptions f<span class="_ _5"/>or <span class="_ _5"/>the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _5"/> flows and applied discount f<span class="_ _5"/>actor<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Current mark<span class="_ _5"/>et v<span class="_ _5"/>alues for<span class="_ _5"/> vessels<span class="_ _5"/>, etc.,<span class="_ _5"/> are estima<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _5"/>ers.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The cash flow projections ar<span class="_ _5"/>e based on financial budgets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and business plans.<span class="_ _5"/> In nature<span class="_ _5"/>, <span class="_ _5"/>these projections are subject<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to judgement<span class="_ _5"/> and estimates that<span class="_ _5"/> are uncertain,<span class="_ _5"/> though </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on experience and external sour<span class="_ _5"/>ces wher<span class="_ _5"/>e available.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Centr<span class="_ _5"/>alised processes and invol<span class="_ _5"/>vement of corpor<span class="_ _5"/>ate func<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions ensure <span class="_ _5"/>that indices and data sour<span class="_ _5"/>ces are select<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consistently<span class="_ _5"/> while observing differ<span class="_ _5"/>ences in risks and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circumstances<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The discount<span class="_ _5"/> rat<span class="_ _5"/>es applied reflect <span class="_ _5"/>the time <span class="_ _5"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _5"/>well as the specific risks r<span class="_ _5"/>elated <span class="_ _5"/>to the under<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _5"/>, i.e<span class="_ _5"/>. pr<span class="_ _5"/>oject and/<span class="_ _5"/>or<span class="_ _5"/> country<span class="_ _5"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _5"/> Further<span class="_ _0"/>, any uncertain<span class="_ _5"/>ties reflecting past per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _5"/>variations in <span class="_ _5"/>the amount or<span class="_ _5"/> timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _5"/>ojected cash flows ar<span class="_ _5"/>e general<span class="_ _5"/>ly r<span class="_ _5"/>eflected in <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _5"/> tests is subject<span class="_ _5"/> to estimat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _5"/>e development<span class="_ _5"/> of freight r<span class="_ _5"/>ates and <span class="_ _5"/>volumes,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _5"/> ra<span class="_ _5"/>tes applied. Manag<span class="_ _5"/>ement </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _5"/>ey as<span class="_ _5"/>sumptions by considering past<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _5"/>l as market anal<span class="_ _5"/>ysis and future expec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _5"/> and demand tr<span class="_ _5"/>ends. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Further<span class="_ _0"/>, the <span class="_ _5"/>value in use calculation<span class="_ _5"/> is sensitive to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ate and <span class="_ _5"/>the terminal gr<span class="_ _5"/>owth r<span class="_ _5"/>ate.<span class="_ _5"/> V<span class="_ _5"/>alue in<span class="_ _5"/> use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _5"/>the expected future economic<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth r<span class="_ _5"/>ate and r<span class="_ _5"/>eplacement CAPEX during <span class="_ _5"/>the terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, <span class="_ _5"/>which is based on Management’<span class="_ _5"/>s plans and ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pectations for <span class="_ _5"/>the future.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The futur<span class="_ _5"/>e development in<span class="_ _5"/> freight r<span class="_ _5"/>ates is a significan<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _5"/> impacting the <span class="ff2 ws0">Ocean<span class="ff3"> segment in particular<span class="_ _5"/> and is </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _5"/>egional and global economic envir<span class="_ _5"/>onments, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _5"/>tterns,<span class="_ _5"/> and by industry<span class="_ _5"/>-specific tr<span class="_ _5"/>ends in respect<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _5"/>y and demand.<span class="_ _5"/> Freight r<span class="_ _5"/>ates con<span class="_ _5"/>tinued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to increase <span class="_ _5"/>throughout<span class="_ _5"/> the first hal<span class="_ _5"/>f of 2024 as a r<span class="_ _5"/>esult of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Red Sea situation.<span class="_ _5"/> The r<span class="_ _5"/>ates peak<span class="_ _5"/>ed in Q3 2024<span class="_ _5"/>, <span class="_ _5"/>then </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">partially<span class="_ _5"/> normalised and stabilised with supply<span class="_ _5"/> catching up.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The future de<span class="_ _5"/>velopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _5"/>actor<span class="_ _5"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across Maersk,<span class="_ _5"/> either<span class="_ _5"/> directly<span class="_ _5"/> on the bunk<span class="_ _5"/>er<span class="_ _5"/> oil price,<span class="_ _5"/> green </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel and its availability<span class="_ _5"/>,<span class="_ _5"/> or<span class="_ _5"/> indirectl<span class="_ _5"/>y thr<span class="_ _5"/>ough its impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on market<span class="_ _5"/> freight<span class="_ _5"/> rat<span class="_ _5"/>es charged <span class="_ _5"/>to customers.<span class="_ _5"/> Bunker<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">con <span class="_ _9"/>sumption increased thr<span class="_ _5"/>oughout 2024 <span class="_ _5"/>with re-r<span class="_ _5"/>outing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">south of Cape of Good Hope caused by<span class="_ _5"/> the situation in<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Red Sea/Gulf of <span class="_ _5"/>Aden.<span class="_ _5"/> However<span class="_ _0"/>, consumption is expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline in 2025<span class="_ _5"/>, driven<span class="_ _5"/> by fleet<span class="_ _5"/> outsourcing,<span class="_ _5"/> efficiency </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">improv<span class="_ _5"/>ements and the commencement<span class="_ _5"/> of Gemini Coop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eration from F<span class="_ _5"/>ebruary 2025.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span class="ff2 lse">Logistics &amp; Services<span class="ff3"> is impacted by<span class="_ _5"/> ra<span class="_ _5"/>tes and volumes </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _5"/>the Logistics &amp; Services product<span class="_ _5"/> lines,<span class="_ _5"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the <span class="_ _5"/>Air<span class="_ _5"/> and W<span class="_ _5"/>arehousing business<span class="_ _5"/>. <span class="_ _5"/>The future gr<span class="_ _5"/>owth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and productivity<span class="_ _5"/> of the Fulfil<span class="_ _5"/>led by Maersk pr<span class="_ _5"/>oduct r<span class="_ _5"/>ange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also considered a k<span class="_ _5"/>ey<span class="_ _5"/> assumption as volumes ar<span class="_ _5"/>e sensi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tive t<span class="_ _5"/>o the development<span class="_ _5"/> of the global economy<span class="_ _0"/>. Manage-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment considers <span class="_ _5"/>the future economic outlook and expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _5"/>om completed acquisitions when<span class="_ _5"/> determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _5"/>oductivity of F<span class="_ _5"/>ulfilled by<span class="_ _5"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals<span class="ff3 ws10"> located in oil-producing countries<span class="_ _5"/>, e.g.<span class="_ _5"/> Nigeria </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Brazil,<span class="_ _5"/> are indir<span class="_ _5"/>ectly<span class="_ _5"/> impacted by the de<span class="_ _5"/>velopment in oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prices and the consequences for<span class="_ _5"/> the respectiv<span class="_ _5"/>e countries’<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">economies,<span class="_ _5"/> which not onl<span class="_ _5"/>y affects volumes handled at<span class="_ _5"/> the <span class="_ _0"/><span class="ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminals,<span class="_ _5"/> but also for<span class="_ _5"/>eign exchange r<span class="_ _5"/>ates<span class="_ _5"/>. Continued eco<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic deterior<span class="_ _5"/>ation and a lack of cash r<span class="_ _5"/>epatriation opportu<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nities in certain oil-pr<span class="_ _5"/>oducing countries could also put pr<span class="_ _5"/>es<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure on the carrying amounts o<span class="_ _5"/>f individual terminals.<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reper<span class="_ _5"/>cussions of uncertainty in tr<span class="_ _5"/>ade policies and tariffs,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stemming from<span class="_ _5"/> geopolitical tensions,<span class="_ _5"/> may impact<span class="_ _5"/> port r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a few str<span class="_ _5"/>ate<span class="_ _5"/>gic regions.<span class="_ _5"/> The other<span class="_ _5"/> key<span class="_ _5"/> sensitivities impact<span class="_ _5"/><span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing T<span class="_ _0"/>erminals include container<span class="_ _5"/> moves,<span class="_ _5"/> rev<span class="_ _5"/>enue and cost per<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _5"/> and local port r<span class="_ _5"/>ates,<span class="_ _5"/> all of which<span class="_ _5"/> are impacted by<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">local economic outlook and competition,<span class="_ _5"/> as well as con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cession right e<span class="_ _5"/>xtensions and the discount r<span class="_ _5"/>ate applied.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inflation is also expect<span class="_ _5"/>ed to continue <span class="_ _5"/>to have a<span class="_ _5"/> high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _5"/>oss Maersk in 2025,<span class="_ _5"/> impacting both the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">count r<span class="_ _5"/>ate and <span class="_ _5"/>terminal growth<span class="_ _5"/> rat<span class="_ _5"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– results of<span class="_ _5"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="ff2">Ocean</span> cash flow projection<span class="_ _5"/> is based on the for<span class="_ _5"/>ecast </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _5"/> Q3 2024,<span class="_ _5"/> covering <span class="_ _5"/>the five-y<span class="_ _5"/>ear business plan<span class="_ _5"/> for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2025-29.<span class="_ _5"/> Management<span class="_ _5"/> applied an assumption of gro<span class="_ _5"/>wth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _5"/> a calculated t<span class="_ _5"/>erminal value <span class="_ _5"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _5"/>to 2.<span class="_ _0"/>1% (2.7%) p.a.<span class="_ _5"/> In the annual impairmen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _5"/> in November<span class="_ _5"/> 2024<span class="_ _5"/>, a pr<span class="_ _5"/>e-<span class="_ _5"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te of 9.3% (9<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> was applied.<span class="_ _5"/> The impairmen<span class="_ _5"/>t t<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was carried out c<span class="_ _5"/>onsidering Management’<span class="_ _5"/>s planned fleet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">renew<span class="_ _5"/>al progr<span class="_ _5"/>amme running until 2030<span class="_ _5"/>. <span class="_ _5"/>The impairment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test show<span class="_ _5"/>ed headroom between <span class="_ _5"/>the v<span class="_ _5"/>alue in use and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _5"/> The major<span class="_ _5"/> part of <span class="_ _5"/>the carrying amount is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _5"/>. Managemen<span class="_ _5"/>t is of the opinion<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s most significan<span class="_ _5"/>t goodwill componen<span class="_ _5"/>t relat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="ff2 ws0">Logistics &amp; Services<span class="ff3"> segment.<span class="_ _5"/> The annual impair<span class="_ _5"/>-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>test is based on <span class="_ _5"/>the estimated <span class="_ _5"/>value in use from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the five-<span class="_ _5"/>year<span class="_ _5"/> business plan for<span class="_ _5"/> 2025-29,<span class="_ _5"/> wher<span class="_ _5"/>e the v<span class="_ _5"/>ol<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ume and improv<span class="_ _5"/>ed margin gro<span class="_ _5"/>wth assumptions,<span class="_ _5"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>egion- <span class="_ _9"/>specific, r<span class="_ _5"/>eflect <span class="_ _5"/>the current e<span class="_ _5"/>xpectations for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the relev<span class="_ _5"/>ant period.<span class="_ _5"/> The applied <span class="_ _5"/>terminal gro<span class="_ _5"/>wth is 2.<span class="_ _5"/>1%<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(2.<span class="_ _5"/>7%). <span class="_ _5"/>A discoun<span class="_ _5"/>t r<span class="_ _5"/>ate of 8<span class="_ _5"/>.9% (9<span class="_ _5"/>.0%) p.a.<span class="_ _5"/> before <span class="_ _5"/>tax or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">8.<span class="_ _5"/>7% (8<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> after<span class="_ _5"/> tax was applied.<span class="_ _5"/> <span class="_ _5"/>The impairment <span class="_ _5"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> from <span class="_ _5"/>the value in use <span class="_ _5"/>to the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount.<span class="_ _5"/> Management is of <span class="_ _5"/>the opinion that<span class="_ _5"/> the assump-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> In <span class="_ _222"/><span class="ff2 ls0 ws0">T<span class="_ _5"/>erminals<span class="ff3">,<span class="_ _5"/> Management<span class="_ _5"/> assesses indicators of </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _5"/>easing volumes and based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _5"/> estimates <span class="_ _5"/>the recover<span class="_ _5"/>able amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual terminals <span class="_ _5"/>whereby<span class="_ _5"/> impairment indicators </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exist.<span class="_ _5"/> Management also <span class="_ _5"/>tests for<span class="_ _5"/> impairment of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _5"/>ating units (CGUs) to <span class="_ _5"/>which goodwill or<span class="_ _5"/> indef-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inite life intangible assets ar<span class="_ _5"/>e allocated.<span class="_ _5"/> <span class="_ _5"/>The cash flow </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">projections for<span class="_ _5"/> each <span class="_ _5"/>terminal cover<span class="_ _5"/> <span class="_ _5"/>the concession period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and extension options deemed lik<span class="_ _5"/>ely <span class="_ _5"/>to be exer<span class="_ _5"/>cised, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latter<span class="_ _5"/> of which is expect<span class="_ _5"/>ed to hav<span class="_ _5"/>e positive impact on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">replacement<span class="_ _5"/> volumes<span class="_ _5"/>. <span class="_ _5"/>The growth r<span class="_ _5"/>ates r<span class="_ _5"/>eflect curr<span class="_ _5"/>ent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> expectations for<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> period, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates applied ar<span class="_ _5"/>e between 7<span class="_ _0"/>.2% and 12.0% (7<span class="_ _0"/>.4% </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 12.<span class="_ _0"/>1%) p.a. after<span class="_ _5"/> tax.<span class="_ _5"/> <span class="_ _5"/>The impairment t<span class="_ _5"/>ests considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of disposal compar<span class="_ _5"/>ed to <span class="_ _5"/>the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount and r<span class="_ _5"/>esulted in impairmen<span class="_ _5"/>t losses on assets of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _5"/> across <span class="_ _5"/>two terminals amounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 42m in 202<span class="_ _5"/>4 (impairment losses of USD<span class="_ _5"/> 134m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across mul<span class="_ _5"/>tiple terminals in 2023<span class="_ _5"/>,<span class="_ _5"/> of which USD 94m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed to a CGU in<span class="_ _5"/> the Mediterr<span class="_ _5"/>anean), r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 3.2 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t. <span class="_ _5"/>The fair<span class="_ _5"/> v<span class="_ _5"/>alues of indi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vidual terminals ar<span class="_ _5"/>e measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disposal, <span class="_ _5"/>where the perspectiv<span class="_ _5"/>e of a potential buyer<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed. <span class="_ _5"/>The v<span class="_ _5"/>aluations (fair<span class="_ _5"/> v<span class="_ _5"/>alue level 3) are pr<span class="_ _5"/>epared </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by discoun<span class="_ _5"/>ting expected cash inflows and outflows f<span class="_ _5"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the period until concession end.<span class="_ _5"/> This includes e<span class="_ _5"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession extensions<span class="_ _5"/>, and costs and benefits r<span class="_ _5"/>elated <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restructuring and impr<span class="_ _5"/>ovement<span class="_ _5"/> projects that<span class="_ _5"/> a potential </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">buyer<span class="_ _5"/> can be assumed t<span class="_ _5"/>o undertake in or<span class="_ _5"/>der <span class="_ _5"/>to extr<span class="_ _5"/>act <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">best v<span class="_ _5"/>alue from the terminal.<span class="_ _5"/> Individual <span class="_ _8"/>country-specific </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates ar<span class="_ _5"/>e applied.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _5"/> ra<span class="_ _5"/>te as of 31 December<span class="_ _5"/> 2024 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _5"/>l other assumptions constan<span class="_ _5"/>t, <span class="_ _5"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> of USD 4.<span class="_ _0"/>1bn (USD 3.<span class="_ _5"/>9bn) between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue in use and the carrying amount.<span class="_ _5"/> The f<span class="_ _5"/>ollowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in assumptions r<span class="_ _5"/>eflect the r<span class="_ _5"/>elated impact<span class="_ _5"/> on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value in use and <span class="_ _5"/>thus the headr<span class="_ _5"/>oom for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are pr<span class="_ _5"/>epared with al<span class="_ _5"/>l other<span class="_ _5"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept<span class="_ _5"/> constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 570.123px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey Ocean CGU assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Change</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Effect on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value in use</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 570.111px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Growth in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal period</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.0bn</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate p.a. bef</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ore tax as of 31 Dec</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ember 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9.9%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.7bn</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>1 <span class="_ _215"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:309.46875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 222.703px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.609px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 356.031px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 439.828px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.516px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">260</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.232px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.576px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-149</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.123px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,186</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,044</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,637</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,353</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 569.479px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.686px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">157</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.576px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.467px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.357px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-48</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.248px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,014</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">693</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,396</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.029px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.578px; top: 298.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 387.328px; top: 298.982px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,944</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">720</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.92px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,030</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 298.982px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,824</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 7<span class="_ _5"/>6m is under de<span class="_ _5"/>velopment. USD 32m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 71m hav<span class="_ _5"/>e restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 185m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 0.0136718px; width: 120.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 0.0136718px; width: 47.5723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Customer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 0.0136718px; width: 50.9062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> incl. </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 286.609px; top: 12.0137px; width: 55.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and service </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 355.359px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">relationships </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.938px; top: 12.0137px; width: 52.9395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">IT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> software</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 312.844px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rights</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 569.777px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,554</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,985</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,043</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,371</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,953</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">204</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 166.25px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.342px; width: 166.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 259.297px; top: 105.357px; width: 310.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">234</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">642</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 569.502px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-356</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 569.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,230</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,031</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,243</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.717px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation and impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.592px; width: 569.848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">349</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">824</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,168</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amortisation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">382</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">299</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">322</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">402</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">481</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-297</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 570.07px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">542</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">571</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,119</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 340.516px; top: 343.523px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 343.654px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,117</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">752</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 339.809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,094</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 533.547px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,124</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Acquisition of Martin Bencher<span class="_ _5"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of which USD 49m is under de<span class="_ _5"/>velopment. USD 34m<span class="_ _5"/> is related <span class="_ _5"/>to terminal rights with<span class="_ _5"/> indefinite useful lives in Poti Sea Port<span class="_ _5"/> Corp. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _5"/> carrying amount of USD 70m<span class="_ _5"/> have restricted <span class="_ _5"/>title. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 162m is related <span class="_ _5"/>to ongoing development<span class="_ _5"/> of software<span class="_ _5"/>.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 440.906px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Goodwill carrying amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 572.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 316 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 572.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 4,599 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.854px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Multiple terminals </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.172px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 241</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Others</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 438.551px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5,161</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.421875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Operating se</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Cash-gener</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 49.2422px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 572.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 319 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 570.719px; top: 64.1328px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.2637px; width: 572.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics &amp; Services</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.301px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1543px; width: 161.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.215px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.578px; top: 79.1543px; width: 410.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arious terminals</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 571.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unallocated it</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ems</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.248px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Maersk Container Industry</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 572.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 459.169px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 322 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>On 27 <span class="_ _5"/>January 2023<span class="_ _5"/>, it <span class="_ _5"/>was announced that<span class="_ _5"/> the Group <span class="_ _5"/>would move to<span class="_ _5"/>wards a singular<span class="_ _5"/> and unified br<span class="_ _5"/>and by inte<span class="_ _5"/>grating the Maersk br<span class="_ _5"/>ands.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Existing brands w<span class="_ _5"/>ere retir<span class="_ _5"/>ed during Q1 2023,<span class="_ _5"/> resulting in<span class="_ _5"/> the reco<span class="_ _5"/>gnition of impairment losses of <span class="_ _5"/>the full carrying amount of each r<span class="_ _5"/>espective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">retir<span class="_ _5"/>ed brand on <span class="_ _5"/>the balance sheet. <span class="_ _5"/>T<span class="_ _5"/>otal impairment<span class="_ _5"/> losses related <span class="_ _5"/>to the retir<span class="_ _5"/>ement of br<span class="_ _5"/>ands in 2023 reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is USD 299m, o<span class="_ _5"/>f which USD 297<span class="_ _5"/>m is within Ocean and USD 2m<span class="_ _5"/> is within Logistics &amp; Services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span> <span class="_ _f"/>SIGNIFICANT<span class="_ _5"/> ACCOUNTING ESTIMA<span class="_ _5"/>TES AND JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _5"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _5"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _5"/> the determination of cash-<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units to which<span class="_ _5"/> goodwill is allocat<span class="_ _5"/>ed for<span class="_ _5"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>testing and in the selection<span class="_ _5"/> of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _5"/>tests.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The determination<span class="_ _5"/> of cash-generating units diff<span class="_ _5"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _5"/>ea. Ocean<span class="_ _5"/> operat<span class="_ _5"/>es its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _5"/> vessels and hub <span class="_ _5"/>terminals in an int<span class="_ _5"/>egra<span class="_ _5"/>ted net-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">work. Consequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the Ocean activities ar<span class="_ _5"/>e tested f<span class="_ _5"/>or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment as a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Logistics &amp; Services, including first<span class="_ _5"/>-mile activities,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _5"/>enerating unit.<span class="_ _5"/> Management<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _5"/>gistics &amp; Services products as an inte<span class="_ _5"/>grat<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _5"/>with the activities <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _5"/>ating unit. In <span class="_ _5"/>T<span class="_ _0"/>erminals, each <span class="_ _5"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is considered an individual cash-g<span class="_ _5"/>enerating unit<span class="_ _5"/> for<span class="_ _5"/> im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _5"/>tests,<span class="_ _5"/> except <span class="_ _5"/>when the capacity<span class="_ _5"/> is managed as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Unallocated items consists of sever<span class="_ _5"/>al individual busi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nesses,<span class="_ _5"/> including Maersk Container<span class="_ _5"/> Industry<span class="_ _5"/>, <span class="_ _5"/>which are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each considered one cash-g<span class="_ _5"/>enerating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _5"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _5"/>erable amount<span class="_ _5"/> of each cash-gener<span class="_ _5"/>ating unit is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determined based on <span class="_ _5"/>the higher of its <span class="_ _5"/>value in use and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. <span class="_ _5"/>The estimated v<span class="_ _5"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _5"/>ey assumptions f<span class="_ _5"/>or <span class="_ _5"/>the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _5"/> flows and applied discount f<span class="_ _5"/>actor<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Current mark<span class="_ _5"/>et v<span class="_ _5"/>alues for<span class="_ _5"/> vessels<span class="_ _5"/>, etc.,<span class="_ _5"/> are estima<span class="_ _5"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _5"/>ers.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The cash flow projections ar<span class="_ _5"/>e based on financial budgets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and business plans.<span class="_ _5"/> In nature<span class="_ _5"/>, <span class="_ _5"/>these projections are subject<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to judgement<span class="_ _5"/> and estimates that<span class="_ _5"/> are uncertain,<span class="_ _5"/> though </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on experience and external sour<span class="_ _5"/>ces wher<span class="_ _5"/>e available.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Centr<span class="_ _5"/>alised processes and invol<span class="_ _5"/>vement of corpor<span class="_ _5"/>ate func<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions ensure <span class="_ _5"/>that indices and data sour<span class="_ _5"/>ces are select<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consistently<span class="_ _5"/> while observing differ<span class="_ _5"/>ences in risks and other<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circumstances<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The discount<span class="_ _5"/> rat<span class="_ _5"/>es applied reflect <span class="_ _5"/>the time <span class="_ _5"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _5"/>well as the specific risks r<span class="_ _5"/>elated <span class="_ _5"/>to the under<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _5"/>, i.e<span class="_ _5"/>. pr<span class="_ _5"/>oject and/<span class="_ _5"/>or<span class="_ _5"/> country<span class="_ _5"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _5"/> Further<span class="_ _0"/>, any uncertain<span class="_ _5"/>ties reflecting past per<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _5"/>variations in <span class="_ _5"/>the amount or<span class="_ _5"/> timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _5"/>ojected cash flows ar<span class="_ _5"/>e general<span class="_ _5"/>ly r<span class="_ _5"/>eflected in <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _5"/> tests is subject<span class="_ _5"/> to estimat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _5"/>e development<span class="_ _5"/> of freight r<span class="_ _5"/>ates and <span class="_ _5"/>volumes,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _5"/> ra<span class="_ _5"/>tes applied. Manag<span class="_ _5"/>ement </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _5"/>ey as<span class="_ _5"/>sumptions by considering past<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _5"/>l as market anal<span class="_ _5"/>ysis and future expec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _5"/> and demand tr<span class="_ _5"/>ends. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Further<span class="_ _0"/>, the <span class="_ _5"/>value in use calculation<span class="_ _5"/> is sensitive to <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ate and <span class="_ _5"/>the terminal gr<span class="_ _5"/>owth r<span class="_ _5"/>ate.<span class="_ _5"/> V<span class="_ _5"/>alue in<span class="_ _5"/> use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _5"/>the expected future economic<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth r<span class="_ _5"/>ate and r<span class="_ _5"/>eplacement CAPEX during <span class="_ _5"/>the terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, <span class="_ _5"/>which is based on Management’<span class="_ _5"/>s plans and ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pectations for <span class="_ _5"/>the future.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The futur<span class="_ _5"/>e development in<span class="_ _5"/> freight r<span class="_ _5"/>ates is a significan<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _5"/> impacting the <span class="ff2 ws0">Ocean<span class="ff3"> segment in particular<span class="_ _5"/> and is </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _5"/>egional and global economic envir<span class="_ _5"/>onments, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _5"/>tterns,<span class="_ _5"/> and by industry<span class="_ _5"/>-specific tr<span class="_ _5"/>ends in respect<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _5"/>y and demand.<span class="_ _5"/> Freight r<span class="_ _5"/>ates con<span class="_ _5"/>tinued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to increase <span class="_ _5"/>throughout<span class="_ _5"/> the first hal<span class="_ _5"/>f of 2024 as a r<span class="_ _5"/>esult of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Red Sea situation.<span class="_ _5"/> The r<span class="_ _5"/>ates peak<span class="_ _5"/>ed in Q3 2024<span class="_ _5"/>, <span class="_ _5"/>then </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">partially<span class="_ _5"/> normalised and stabilised with supply<span class="_ _5"/> catching up.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The future de<span class="_ _5"/>velopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _5"/>actor<span class="_ _5"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across Maersk,<span class="_ _5"/> either<span class="_ _5"/> directly<span class="_ _5"/> on the bunk<span class="_ _5"/>er<span class="_ _5"/> oil price,<span class="_ _5"/> green </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel and its availability<span class="_ _5"/>,<span class="_ _5"/> or<span class="_ _5"/> indirectl<span class="_ _5"/>y thr<span class="_ _5"/>ough its impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on market<span class="_ _5"/> freight<span class="_ _5"/> rat<span class="_ _5"/>es charged <span class="_ _5"/>to customers.<span class="_ _5"/> Bunker<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">con <span class="_ _9"/>sumption increased thr<span class="_ _5"/>oughout 2024 <span class="_ _5"/>with re-r<span class="_ _5"/>outing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">south of Cape of Good Hope caused by<span class="_ _5"/> the situation in<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Red Sea/Gulf of <span class="_ _5"/>Aden.<span class="_ _5"/> However<span class="_ _0"/>, consumption is expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline in 2025<span class="_ _5"/>, driven<span class="_ _5"/> by fleet<span class="_ _5"/> outsourcing,<span class="_ _5"/> efficiency </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">improv<span class="_ _5"/>ements and the commencement<span class="_ _5"/> of Gemini Coop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eration from F<span class="_ _5"/>ebruary 2025.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span><span class="ff2 lse">Logistics &amp; Services<span class="ff3"> is impacted by<span class="_ _5"/> ra<span class="_ _5"/>tes and volumes </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _5"/>the Logistics &amp; Services product<span class="_ _5"/> lines,<span class="_ _5"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the <span class="_ _5"/>Air<span class="_ _5"/> and W<span class="_ _5"/>arehousing business<span class="_ _5"/>. <span class="_ _5"/>The future gr<span class="_ _5"/>owth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and productivity<span class="_ _5"/> of the Fulfil<span class="_ _5"/>led by Maersk pr<span class="_ _5"/>oduct r<span class="_ _5"/>ange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also considered a k<span class="_ _5"/>ey<span class="_ _5"/> assumption as volumes ar<span class="_ _5"/>e sensi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tive t<span class="_ _5"/>o the development<span class="_ _5"/> of the global economy<span class="_ _0"/>. Manage-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment considers <span class="_ _5"/>the future economic outlook and expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _5"/>om completed acquisitions when<span class="_ _5"/> determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _5"/>oductivity of F<span class="_ _5"/>ulfilled by<span class="_ _5"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals<span class="ff3 ws10"> located in oil-producing countries<span class="_ _5"/>, e.g.<span class="_ _5"/> Nigeria </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Brazil,<span class="_ _5"/> are indir<span class="_ _5"/>ectly<span class="_ _5"/> impacted by the de<span class="_ _5"/>velopment in oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prices and the consequences for<span class="_ _5"/> the respectiv<span class="_ _5"/>e countries’<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">economies,<span class="_ _5"/> which not onl<span class="_ _5"/>y affects volumes handled at<span class="_ _5"/> the <span class="_ _0"/><span class="ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminals,<span class="_ _5"/> but also for<span class="_ _5"/>eign exchange r<span class="_ _5"/>ates<span class="_ _5"/>. Continued eco<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic deterior<span class="_ _5"/>ation and a lack of cash r<span class="_ _5"/>epatriation opportu<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nities in certain oil-pr<span class="_ _5"/>oducing countries could also put pr<span class="_ _5"/>es<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure on the carrying amounts o<span class="_ _5"/>f individual terminals.<span class="_ _5"/> The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reper<span class="_ _5"/>cussions of uncertainty in tr<span class="_ _5"/>ade policies and tariffs,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stemming from<span class="_ _5"/> geopolitical tensions,<span class="_ _5"/> may impact<span class="_ _5"/> port r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a few str<span class="_ _5"/>ate<span class="_ _5"/>gic regions.<span class="_ _5"/> The other<span class="_ _5"/> key<span class="_ _5"/> sensitivities impact<span class="_ _5"/><span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing T<span class="_ _0"/>erminals include container<span class="_ _5"/> moves,<span class="_ _5"/> rev<span class="_ _5"/>enue and cost per<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _5"/> and local port r<span class="_ _5"/>ates,<span class="_ _5"/> all of which<span class="_ _5"/> are impacted by<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">local economic outlook and competition,<span class="_ _5"/> as well as con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cession right e<span class="_ _5"/>xtensions and the discount r<span class="_ _5"/>ate applied.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inflation is also expect<span class="_ _5"/>ed to continue <span class="_ _5"/>to have a<span class="_ _5"/> high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _5"/>oss Maersk in 2025,<span class="_ _5"/> impacting both the dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">count r<span class="_ _5"/>ate and <span class="_ _5"/>terminal growth<span class="_ _5"/> rat<span class="_ _5"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– results of<span class="_ _5"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="ff2">Ocean</span> cash flow projection<span class="_ _5"/> is based on the for<span class="_ _5"/>ecast </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _5"/> Q3 2024,<span class="_ _5"/> covering <span class="_ _5"/>the five-y<span class="_ _5"/>ear business plan<span class="_ _5"/> for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2025-29.<span class="_ _5"/> Management<span class="_ _5"/> applied an assumption of gro<span class="_ _5"/>wth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _5"/> a calculated t<span class="_ _5"/>erminal value <span class="_ _5"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _5"/>to 2.<span class="_ _0"/>1% (2.7%) p.a.<span class="_ _5"/> In the annual impairmen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _5"/> in November<span class="_ _5"/> 2024<span class="_ _5"/>, a pr<span class="_ _5"/>e-<span class="_ _5"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te of 9.3% (9<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> was applied.<span class="_ _5"/> The impairmen<span class="_ _5"/>t t<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was carried out c<span class="_ _5"/>onsidering Management’<span class="_ _5"/>s planned fleet </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">renew<span class="_ _5"/>al progr<span class="_ _5"/>amme running until 2030<span class="_ _5"/>. <span class="_ _5"/>The impairment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test show<span class="_ _5"/>ed headroom between <span class="_ _5"/>the v<span class="_ _5"/>alue in use and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _5"/> The major<span class="_ _5"/> part of <span class="_ _5"/>the carrying amount is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _5"/>. Managemen<span class="_ _5"/>t is of the opinion<span class="_ _5"/> that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s most significan<span class="_ _5"/>t goodwill componen<span class="_ _5"/>t relat<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="ff2 ws0">Logistics &amp; Services<span class="ff3"> segment.<span class="_ _5"/> The annual impair<span class="_ _5"/>-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _5"/>test is based on <span class="_ _5"/>the estimated <span class="_ _5"/>value in use from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the five-<span class="_ _5"/>year<span class="_ _5"/> business plan for<span class="_ _5"/> 2025-29,<span class="_ _5"/> wher<span class="_ _5"/>e the v<span class="_ _5"/>ol<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ume and improv<span class="_ _5"/>ed margin gro<span class="_ _5"/>wth assumptions,<span class="_ _5"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>egion- <span class="_ _9"/>specific, r<span class="_ _5"/>eflect <span class="_ _5"/>the current e<span class="_ _5"/>xpectations for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the relev<span class="_ _5"/>ant period.<span class="_ _5"/> The applied <span class="_ _5"/>terminal gro<span class="_ _5"/>wth is 2.<span class="_ _5"/>1%<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(2.<span class="_ _5"/>7%). <span class="_ _5"/>A discoun<span class="_ _5"/>t r<span class="_ _5"/>ate of 8<span class="_ _5"/>.9% (9<span class="_ _5"/>.0%) p.a.<span class="_ _5"/> before <span class="_ _5"/>tax or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">8.<span class="_ _5"/>7% (8<span class="_ _5"/>.8%) p.a.<span class="_ _5"/> after<span class="_ _5"/> tax was applied.<span class="_ _5"/> <span class="_ _5"/>The impairment <span class="_ _5"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> from <span class="_ _5"/>the value in use <span class="_ _5"/>to the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount.<span class="_ _5"/> Management is of <span class="_ _5"/>the opinion that<span class="_ _5"/> the assump-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> In <span class="_ _222"/><span class="ff2 ls0 ws0">T<span class="_ _5"/>erminals<span class="ff3">,<span class="_ _5"/> Management<span class="_ _5"/> assesses indicators of </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _5"/>easing volumes and based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _5"/> estimates <span class="_ _5"/>the recover<span class="_ _5"/>able amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual terminals <span class="_ _5"/>whereby<span class="_ _5"/> impairment indicators </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exist.<span class="_ _5"/> Management also <span class="_ _5"/>tests for<span class="_ _5"/> impairment of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _5"/>ating units (CGUs) to <span class="_ _5"/>which goodwill or<span class="_ _5"/> indef-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inite life intangible assets ar<span class="_ _5"/>e allocated.<span class="_ _5"/> <span class="_ _5"/>The cash flow </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">projections for<span class="_ _5"/> each <span class="_ _5"/>terminal cover<span class="_ _5"/> <span class="_ _5"/>the concession period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and extension options deemed lik<span class="_ _5"/>ely <span class="_ _5"/>to be exer<span class="_ _5"/>cised, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latter<span class="_ _5"/> of which is expect<span class="_ _5"/>ed to hav<span class="_ _5"/>e positive impact on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">replacement<span class="_ _5"/> volumes<span class="_ _5"/>. <span class="_ _5"/>The growth r<span class="_ _5"/>ates r<span class="_ _5"/>eflect curr<span class="_ _5"/>ent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _5"/> expectations for<span class="_ _5"/> the r<span class="_ _5"/>elevant<span class="_ _5"/> period, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates applied ar<span class="_ _5"/>e between 7<span class="_ _0"/>.2% and 12.0% (7<span class="_ _0"/>.4% </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 12.<span class="_ _0"/>1%) p.a. after<span class="_ _5"/> tax.<span class="_ _5"/> <span class="_ _5"/>The impairment t<span class="_ _5"/>ests considered </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of disposal compar<span class="_ _5"/>ed to <span class="_ _5"/>the carrying </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount and r<span class="_ _5"/>esulted in impairmen<span class="_ _5"/>t losses on assets of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _5"/> across <span class="_ _5"/>two terminals amounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 42m in 202<span class="_ _5"/>4 (impairment losses of USD<span class="_ _5"/> 134m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across mul<span class="_ _5"/>tiple terminals in 2023<span class="_ _5"/>,<span class="_ _5"/> of which USD 94m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed to a CGU in<span class="_ _5"/> the Mediterr<span class="_ _5"/>anean), r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 3.2 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t. <span class="_ _5"/>The fair<span class="_ _5"/> v<span class="_ _5"/>alues of indi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vidual terminals ar<span class="_ _5"/>e measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue less cost of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disposal, <span class="_ _5"/>where the perspectiv<span class="_ _5"/>e of a potential buyer<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed. <span class="_ _5"/>The v<span class="_ _5"/>aluations (fair<span class="_ _5"/> v<span class="_ _5"/>alue level 3) are pr<span class="_ _5"/>epared </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by discoun<span class="_ _5"/>ting expected cash inflows and outflows f<span class="_ _5"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the period until concession end.<span class="_ _5"/> This includes e<span class="_ _5"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession extensions<span class="_ _5"/>, and costs and benefits r<span class="_ _5"/>elated <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restructuring and impr<span class="_ _5"/>ovement<span class="_ _5"/> projects that<span class="_ _5"/> a potential </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">buyer<span class="_ _5"/> can be assumed t<span class="_ _5"/>o undertake in or<span class="_ _5"/>der <span class="_ _5"/>to extr<span class="_ _5"/>act <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">best v<span class="_ _5"/>alue from the terminal.<span class="_ _5"/> Individual <span class="_ _8"/>country-specific </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _5"/>ates ar<span class="_ _5"/>e applied.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _5"/>– key<span class="_ _5"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _5"/> ra<span class="_ _5"/>te as of 31 December<span class="_ _5"/> 2024 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _5"/>l other assumptions constan<span class="_ _5"/>t, <span class="_ _5"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _5"/> of USD 4.<span class="_ _0"/>1bn (USD 3.<span class="_ _5"/>9bn) between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue in use and the carrying amount.<span class="_ _5"/> The f<span class="_ _5"/>ollowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in assumptions r<span class="_ _5"/>eflect the r<span class="_ _5"/>elated impact<span class="_ _5"/> on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value in use and <span class="_ _5"/>thus the headr<span class="_ _5"/>oom for<span class="_ _5"/> the Ocean CGU<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are pr<span class="_ _5"/>epared with al<span class="_ _5"/>l other<span class="_ _5"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept<span class="_ _5"/> constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 570.123px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey Ocean CGU assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assumption</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Change</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Effect on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value in use</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 570.111px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Growth in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal period</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.0bn</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Discount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate p.a. bef</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ore tax as of 31 Dec</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ember 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9.9%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">+/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- 0.5 ppts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Approx. USD 2.7bn</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _5"/>ed at cost<span class="_ _5"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _5"/> losses. <span class="_ _5"/>Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis over<span class="_ _5"/> the estimat<span class="_ _5"/>ed useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _5"/>sets. For<span class="_ _5"/> container<span class="_ _5"/> <span class="_ _5"/>terminals opera<span class="_ _5"/>ted under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _5"/>e price and service conditions,<span class="_ _5"/> etc., con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _5"/>o collect usage char<span class="_ _5"/>ges are included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _5"/> intangible assets. <span class="_ _5"/>The cost<span class="_ _5"/> includes the presen<span class="_ _5"/>t v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _5"/> concession agr<span class="_ _5"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment<span class="_ _5"/> constructed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on behalf of <span class="_ _5"/>the grantor<span class="_ _5"/> of a c<span class="_ _5"/>oncession. <span class="_ _5"/>The rights are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised from <span class="_ _5"/>the commencement of oper<span class="_ _5"/>ations ov<span class="_ _5"/>er </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the concession period.<span class="_ _5"/> The concession<span class="_ _5"/> period ranges<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from 10 to 34 y<span class="_ _5"/>ears, <span class="_ _5"/>with an aver<span class="_ _5"/>age of 17<span class="_ _5"/> years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Goodwill and terminal rights have indefinit<span class="_ _5"/>e useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives,<span class="_ _5"/> while all other<span class="_ _5"/> classes have definit<span class="_ _5"/>e lives.<span class="_ _5"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _5"/>garding acquir<span class="_ _5"/>ed customer<span class="_ _5"/> relationships and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _5"/>e amortised over<span class="_ _5"/> a useful life of 10-2<span class="_ _5"/>4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and 5-<span class="_ _5"/>10 years<span class="_ _5"/>, r<span class="_ _5"/>espectively<span class="_ _5"/>.<span class="_ _5"/> Internall<span class="_ _5"/>y developed IT<span class="_ _5"/> soft<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>e is amortised over<span class="_ _5"/> a useful life of 3-5 <span class="_ _5"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _5"/>ecognised when <span class="_ _5"/>the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _5"/>set or<span class="_ _5"/> a cash-gener<span class="_ _5"/>ating unit exceeds<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the higher<span class="_ _5"/> of the estimated <span class="_ _5"/>value in use and fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">less costs of disposal.<span class="_ _5"/> Goodwill is attributed <span class="_ _5"/>to cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _5"/>ating units on acquisition and impaired bef<span class="_ _5"/>ore <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Intangible assets and pr<span class="_ _5"/>operty<span class="_ _5"/>, plant<span class="_ _5"/> and equipment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are <span class="_ _5"/>tested for<span class="_ _5"/> impairment<span class="_ _5"/> if there is an<span class="_ _5"/> indication of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>impairment. Howe<span class="_ _5"/>ver<span class="_ _5"/>,<span class="_ _5"/> annual impairment <span class="_ _5"/>tests ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"/>carried out for<span class="_ _5"/> goodwill and other<span class="_ _5"/> intangible assets with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">indefinite useful lives as w<span class="_ _5"/>ell as intangible assets that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> yet<span class="_ _5"/> in use.<span class="_ _5"/> Impairment losses ar<span class="_ _5"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">depreciation,<span class="_ _5"/> amortisation and impairment,<span class="_ _5"/> net,<span class="_ _5"/> in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _5"/>essels and buildings etc.<span class="_ _5"/> with a carrying amount<span class="_ _5"/> of USD 140m (USD 784m) ha<span class="_ _5"/>ve been pledged as security f<span class="_ _5"/>or<span class="_ _5"/> loans <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 84m (USD 443m).</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _5"/>,<span class="_ _5"/> plant and equipmen<span class="_ _5"/>t are <span class="_ _5"/>valued at<span class="_ _5"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _5"/>eciation and impairment losses<span class="_ _5"/>. Depr<span class="_ _5"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _5"/>to the inc<span class="_ _5"/>ome statement on<span class="_ _5"/> a straight<span class="_ _5"/>-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _5"/> the useful lif<span class="_ _5"/>e at an estimat<span class="_ _5"/>ed residual v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _5"/>e typicall<span class="_ _5"/>y as follo<span class="_ _5"/>ws:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.158203125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.557px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.7969px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">20-25 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6992px; width: 186.311px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Containers,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3711px; width: 203.285px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buildings</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.35547px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-50 years</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.043px; width: 271.553px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal infr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">astructure</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10-30 years or</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> concession </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 84.543px; width: 77.7188px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">period, if short</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 110.639px; width: 120.352px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">W</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehouses and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 109.215px; width: 120.141px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years,</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> or lease term, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.639px; width: 70.4355px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">infrastructur</span><span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 121.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">if shorter</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.326px; width: 99.7031px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aircr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aft and related </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 151.902px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-30 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.326px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">components </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.998px; width: 136.084px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Plant and machinery</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cr</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anes </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 188.574px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5-25 years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.998px; width: 143.912px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> terminal equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 220.67px; width: 135.328px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> operating equipment,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 148.516px; top: 225.262px; width: 41.707px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">7 y</span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ears</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 232.67px; width: 61.2891px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">fixtures,</span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> etc.</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _5"/>esidual v<span class="_ _5"/>alues are reas<span class="_ _5"/>sessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _5"/>egular<span class="_ _5"/> basis. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of an asset is divided int<span class="_ _5"/>o separate c<span class="_ _5"/>ompo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _5"/> which ar<span class="_ _5"/>e depreciated separ<span class="_ _5"/>atel<span class="_ _5"/>y if the useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _5"/> differs.<span class="_ _5"/> Dry<span class="_ _5"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the carrying amount of v<span class="_ _5"/>essels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _5"/>eciated over<span class="_ _5"/> <span class="_ _5"/>the period until the next<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The cost of assets constructed by<span class="_ _5"/> Maersk includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _5"/>y attributable expenses.<span class="_ _5"/> For<span class="_ _5"/> assets with a long<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">construction period,<span class="_ _5"/> borrowing costs during <span class="_ _5"/>the con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _5"/> specific as well as gener<span class="_ _5"/>al borrow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _5"/>ed to cost.<span class="_ _5"/> In addition,<span class="_ _5"/> the cost includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _5"/>esent <span class="_ _5"/>value of estimated costs of r<span class="_ _5"/>emoval and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _5"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.3 <span class="_"> </span>Right<span class="_ _0"/>-<span class="_ _8"/>of<span class="_ _5"/>-use asse<span class="_ _5"/>ts</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:312.3125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 0.0136718px; width: 39.9375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">V</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">essels, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 363.844px; top: 0.0136718px; width: 55.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Concession </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 439.828px; top: 0.0136718px; width: 55.6113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Real estate </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 287px; top: 12.0137px; width: 55.4941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">containers, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 361.422px; top: 12.0137px; width: 56.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">agreements</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 447.969px; top: 12.0137px; width: 47.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 323.094px; top: 24.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 464.141px; top: 24.0137px; width: 29.2676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">leases</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right-of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-use assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 572.016px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> 4,652 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,317 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,701 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 9,670 </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 572.291px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3,265 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 502 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 834 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 4,601 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 572.127px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.891px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 261 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 123 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 385 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.248px; width: 572.244px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.129px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,301 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 203 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 610 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3,114 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, owned assets, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0233px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.029px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.857px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-72</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-81</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-152</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 152.92px; width: 572.273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.523px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 5,341 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,543 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,721 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.8086px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 10,605 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 182.701px; width: 569.443px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.959px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6,344</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,411</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,212</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,967</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 197.592px; width: 569.848px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.818px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,007</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">69</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,088</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,164</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.482px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions from acquir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 227.373px; width: 569.953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">212</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 242.264px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">191</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">555</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,250</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 256.404px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.637px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-53</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 272.045px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, owned assets, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.936px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.857px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 301.826px; width: 569.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,652</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,701</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,670</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:139.421875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amounts recognised in pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit and loss</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.387px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.678px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Depreciation on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> right-of-use as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,114</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,250</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 572.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses (included in finance costs)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.818px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 611 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 563 </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.373px; width: 569.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expenses relating </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to service elements of leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">938</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">868</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.2637px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expenses relating </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to short</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erm leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.799px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">343</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">189</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1543px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expenses relating </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ariable lease payments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">368</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">297</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expenses relating </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to leases of low-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.936px; width: 571.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in opera</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ting costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,676 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,380 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As part of <span class="_ _5"/>the Group’<span class="_ _5"/>s activities,<span class="_ _5"/> customary leasing agr<span class="_ _5"/>eements are ent<span class="_ _5"/>ered,<span class="_ _5"/> especially<span class="_ _5"/> regar<span class="_ _5"/>ding the chartering o<span class="_ _5"/>f <span class="_ _9"/>vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and leasing of containers and other<span class="_ _5"/> equipment.<span class="_ _5"/> In some cases, <span class="_ _5"/>the leasing agreements c<span class="_ _5"/>omprise purchase options <span class="_ _9"/>exercisable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by <span class="_ _5"/>the Group and options for<span class="_ _5"/> ext<span class="_ _5"/>ending the lease t<span class="_ _5"/>erm. <span class="_ _5"/>The Group also ent<span class="_ _5"/>ers into concession agr<span class="_ _5"/>eements that<span class="_ _5"/> provide <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right <span class="_ _5"/>to use some existing infr<span class="_ _5"/>astructure or<span class="_ _5"/> land as requir<span class="_ _5"/>ed to carry<span class="_ _5"/> out <span class="_ _5"/>the terminal business.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>T<span class="_ _0"/>o optimise lease costs during the contr<span class="_ _5"/>act period,<span class="_ _5"/> the Gr<span class="_ _5"/>oup sometimes provides r<span class="_ _5"/>esidual value guar<span class="_ _5"/>antees in r<span class="_ _5"/>elation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equipment<span class="_ _5"/> leases. <span class="_ _5"/>At<span class="_ _5"/> the end of 202<span class="_ _5"/>4, <span class="_ _5"/>the expected r<span class="_ _5"/>esidual values <span class="_ _5"/>were r<span class="_ _5"/>eviewed if these r<span class="_ _5"/>eflect <span class="_ _5"/>the actual residual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">values achieved on<span class="_ _5"/> comparable assets and expecta<span class="_ _5"/>tions about future prices<span class="_ _5"/>. <span class="_ _5"/>At<span class="_ _5"/> 31 December<span class="_ _5"/> 2024,<span class="_ _5"/> USD 226m (USD<span class="_ _5"/> 226m) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is expected <span class="_ _5"/>to be payable and is included in <span class="_ _5"/>the measurement<span class="_ _5"/> of the lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Leases t<span class="_ _5"/>o which Maersk is committed,<span class="_ _5"/> but f<span class="_ _5"/>or <span class="_ _5"/>which the lease t<span class="_ _5"/>erm has not <span class="_ _5"/>yet commenced,<span class="_ _5"/> have an undiscoun<span class="_ _5"/>ted v<span class="_ _5"/>alue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 9<span class="_ _5"/>.8bn (USD 2.6bn).<span class="_ _5"/> The<span class="_ _5"/>y comprise appro<span class="_ _5"/>x. 78 con<span class="_ _5"/>tracts commencing in 2025-2029<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Certain terminal concession agr<span class="_ _5"/>eements contain v<span class="_ _5"/>ariable payment<span class="_ _5"/> terms <span class="_ _5"/>that are link<span class="_ _5"/>ed t<span class="_ _5"/>o future performance<span class="_ _5"/>, i.e<span class="_ _5"/>., </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _5"/> of containers handled. Such<span class="_ _5"/> payments are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement in<span class="_ _5"/> the period in which<span class="_ _5"/> the condition </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that triggers those payments occurs.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>T<span class="_ _0"/>otal cash outflow from leases w<span class="_ _5"/>as USD 5.3bn<span class="_ _5"/> (USD 5.2bn),<span class="_ _5"/> of which USD<span class="_ _5"/> 3.<span class="_ _0"/>1bn (USD 3.2bn) r<span class="_ _5"/>elates <span class="_ _5"/>to repaymen<span class="_ _5"/>t of lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities,<span class="_ _5"/> USD 1.<span class="_ _5"/>7bn (USD 1.4bn) t<span class="_ _5"/>o other lease expenses and USD<span class="_ _5"/> 611m (USD 563m) <span class="_ _5"/>to inter<span class="_ _5"/>est expenses.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Lease liabilities are disclosed in notes 4.2 borr<span class="_ _5"/>owings and lease liability r<span class="_ _5"/>econciliation and 4.5 financial instruments<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and risks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Right-of<span class="_ _5"/>-use assets<span class="ff3"> are mainl<span class="_ _5"/>y leased v<span class="_ _5"/>essels, con<span class="_ _5"/>tainers, </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession arr<span class="_ _5"/>angements and real esta<span class="_ _5"/>te.<span class="_ _5"/> Lease contracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> vessels and c<span class="_ _5"/>ontainers are typical<span class="_ _5"/>ly made f<span class="_ _5"/>or fix<span class="_ _5"/>ed pe-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riods of about five <span class="_ _5"/>years but ma<span class="_ _5"/>y have ext<span class="_ _5"/>ension options </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as described to<span class="_ _5"/>gether<span class="_ _5"/> with lease liabilities.<span class="_ _5"/> Concession </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arrang<span class="_ _5"/>ements and real estate con<span class="_ _5"/>tracts ar<span class="_ _5"/>e negotiated on<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an individual basis and contain a <span class="_ _5"/>wide range of <span class="_ _5"/>terms and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Leases are r<span class="_ _5"/>ecognised as a right<span class="_ _5"/>-of-use asset <span class="_ _5"/>with a <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding lease liability<span class="_ _5"/> at <span class="_ _5"/>the date on which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased asset is av<span class="_ _5"/>ailable for<span class="_ _5"/> use.<span class="_ _5"/> The right<span class="_ _5"/>-of-use asset </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is depreciat<span class="_ _5"/>ed over<span class="_ _5"/> the shorter<span class="_ _5"/> of <span class="_ _5"/>the asset’s useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the lease <span class="_ _5"/>term on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Payments associated with short<span class="_ _5"/>-<span class="_ _5"/>term leases and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leases of low-<span class="_ _5"/>value assets ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised on a straight<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">line basis as an expense in <span class="_ _5"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.2 <span class="_"> </span>Borr<span class="_ _5"/>owings and lease liability r<span class="_ _5"/>econciliation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:355.234375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 0.0136718px; width: 42.1875px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 220.062px; top: 0.0136718px; width: 352.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-cash chang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 121.734px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 507.688px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.141px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 36.6855px; width: 76.6699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.2734px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">From</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 262.766px; top: 36.6855px; width: 79.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Addi- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 351.047px; top: 36.6855px; width: 97.6289px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dis posals</span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.906px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 195.594px; top: 48.6855px; width: 42.6211px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 316.312px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 401.812px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exchange </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 196.75px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 415.75px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">move-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 415.75px; top: 72.6855px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 106.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 569.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.914px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 61.5312px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 139.139px; width: 407.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">875</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-153</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 238.953px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 238.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,366</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">847</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 276.016px; top: 154.045px; width: 293.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 570.023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,169</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,539</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 198.717px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.9279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">197</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 358.91px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">526</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.498px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Leases:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.389px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.1406px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3652px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,046</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-389</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-210</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 273.186px; width: 570.023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,798</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,728</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 288.076px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.119px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,684</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 302.951px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3652px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,199</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-389</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-397</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.748px; width: 103.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es hedge of </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 344.748px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">borrowings, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.9395px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">435</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Other includes f<span class="_ _5"/>air <span class="_ _5"/>value changes and amortisation of f<span class="_ _5"/>ees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of the total issued bonds at 31 December<span class="_ _5"/> 202<span class="_ _5"/>4, USD 2.4bn<span class="_ _5"/> are green bonds primaril<span class="_ _5"/>y used t<span class="_ _5"/>o finance investments in dual-fuel v<span class="_ _5"/>essels, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">electrified material handling equipment<span class="_ _5"/> and construction of low-emission buildings<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Cash flows from financing activities of USD 84<span class="_ _5"/>7m ar<span class="_ _5"/>e made up of repayments of borr<span class="_ _5"/>owings of negativ<span class="_ _5"/>e USD 705m and proc<span class="_ _5"/>eeds from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">borrowings of USD<span class="_ _5"/> 1.6bn, adjusted f<span class="_ _5"/>or borr<span class="_ _5"/>owings associated with assets held f<span class="_ _5"/>or sale of USD<span class="_ _5"/> 615m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _5"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.2812px; top: 0.0136718px; width: 42.1875px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 169.875px; top: 0.0136718px; width: 401.631px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-cash changes</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net</span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 75.1719px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 508.906px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.719px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 114.531px; top: 36.6855px; width: 72.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2022</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fr</span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 211.453px; top: 36.6855px; width: 79.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Addi- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 36.6855px; width: 97.9219px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dis posals</span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.14259px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ransf</span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ers, </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 410.266px; top: 36.6855px; width: 38.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Foreign </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.391px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 144.562px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 266.125px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 402.266px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exchange </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 145.969px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 358.656px; top: 60.6855px; width: 39.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 416.688px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">move-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 72.6855px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">sale</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 416.688px; top: 72.6855px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 76.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 569.695px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">credit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 61.4531px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 114.531px; top: 139.139px; width: 454.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,976</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">308</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 187.078px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 186.779px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,029</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 226.484px; top: 154.045px; width: 342.211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,366</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,774</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,169</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.3517px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">197</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.514px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Leases:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 267.389px; width: 288.984px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,614</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,226</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,268</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 319.75px; top: 267.404px; width: 248.9px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">84</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,582</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,798</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,032</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 86.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,643</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,006</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,271</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">145</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">58</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 90.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es hedge </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of borrowings, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">532</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-46</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-81</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Other includes f<span class="_ _5"/>air <span class="_ _5"/>value changes and amortisation of f<span class="_ _5"/>ees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of the total issued bonds at 31 December<span class="_ _5"/> 2023<span class="_ _5"/>, USD 1.3bn<span class="_ _5"/> are green bonds primaril<span class="_ _5"/>y used to financ<span class="_ _5"/>e the construction of dual-fuel v<span class="_ _5"/>essels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Cash flows from financing activities of USD 220m ar<span class="_ _5"/>e made up of repayments of borr<span class="_ _5"/>owings of nega<span class="_ _5"/>tive USD 660m, adjust<span class="_ _5"/>ed for cash<span class="_ _5"/> flows </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from hedges of USD<span class="_ _5"/> 35m and proceeds fr<span class="_ _5"/>om borrowings of USD 845m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Additions include USD 29m of lease liabilities from<span class="_ _5"/> businesses acquired during 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _5"/>ysis of lease liabilities is disclosed in note 4.5 Financial instrumen<span class="_ _5"/>ts and risks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _5"/> reco<span class="_ _5"/>gnised at fair<span class="_ _5"/> <span class="_ _5"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> costs. Subsequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the financial liabilities are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method, <span class="_ _5"/>whereby<span class="_ _5"/> tr<span class="_ _5"/>ansaction costs and any pr<span class="_ _5"/>emium <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> discount ar<span class="_ _5"/>e recognised as financial e<span class="_ _5"/>xpenses over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the term<span class="_ _5"/> of the liabilities.<span class="_ _5"/> Fixed inter<span class="_ _5"/>est loans subject <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge accounting are measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost with<span class="_ _5"/> an adjustment f<span class="_ _5"/>or <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of the hedged </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _5"/>est component.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _5"/>e measured at <span class="_ _5"/>the present<span class="_ _5"/> v<span class="_ _5"/>alue of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _5"/> <span class="_ _5"/>the lease term,<span class="_ _5"/> at <span class="_ _5"/>the interest<span class="_ _5"/> r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _5"/>the lease,<span class="_ _5"/> or at<span class="_ _5"/> Maersk’<span class="_ _5"/>s incremental borr<span class="_ _5"/>owing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te (IBR). Maersk’<span class="_ _5"/>s IBR re<span class="_ _5"/>flects the Group’<span class="_ _5"/>s cr<span class="_ _5"/>edit risk,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased amount,<span class="_ _5"/> and contract<span class="_ _5"/> duration,<span class="_ _5"/> as wel<span class="_ _5"/>l as the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nature and quality<span class="_ _5"/> of the asset’<span class="_ _5"/>s security and economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">environmen<span class="_ _5"/>t in which <span class="_ _5"/>the leased assets opera<span class="_ _5"/>te.<span class="_ _5"/> T<span class="_ _0"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determine the IBR,<span class="_ _5"/> wher<span class="_ _5"/>e possible, Maersk uses r<span class="_ _5"/>ecent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _5"/> financing received by<span class="_ _5"/> the individual lessee as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a starting point,<span class="_ _5"/> with adjustments <span class="_ _5"/>to reflect<span class="_ _5"/> changes in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financing conditions since that<span class="_ _5"/> financing was r<span class="_ _5"/>eceived.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Where such financing is not<span class="_ _5"/> available,<span class="_ _5"/> Maersk uses a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">build-up approach <span class="_ _5"/>that starts with<span class="_ _5"/> a risk<span class="_ _5"/>- free inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te adjusted by cr<span class="_ _5"/>edit risk and specific risks f<span class="_ _5"/>aced by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _8"/>lessee such as asset <span class="_ _5"/>type,<span class="_ _5"/> geogr<span class="_ _5"/>aphical risks,<span class="_ _5"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Subsequentl<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>the lease liability is measured a<span class="_ _5"/>t amor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _5"/> each lease payment al<span class="_ _5"/>located between <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _5"/>t of the liability<span class="_ _5"/> and financing cost. <span class="_ _5"/>The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _5"/>ged to <span class="_ _5"/>the income statement<span class="_ _5"/> over<span class="_ _5"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _5"/>the IBR that<span class="_ _5"/> was used <span class="_ _5"/>to discount <span class="_ _5"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _5"/>yments are included in <span class="_ _5"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _5"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>fixed pa<span class="_ _5"/>yments (including in-substance fixed pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments),<span class="_ _5"/> less any lease incentives r<span class="_ _5"/>eceivable</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>v<span class="_ _5"/>ariable lease payments that<span class="_ _5"/> are based on an<span class="_ _5"/> index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _8"/>r a r<span class="_ _8"/>at<span class="_ _8"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>amounts e<span class="_ _5"/>xpected to be pa<span class="_ _5"/>yable by <span class="_ _5"/>the lessee under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _5"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>the ex<span class="_ _5"/>ercise price of a pur<span class="_ _5"/>chase option if the lessee is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>to exercise <span class="_ _5"/>that option,<span class="_ _5"/> and pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _5"/>or <span class="_ _5"/>terminating the lease<span class="_ _5"/>, if <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _5"/> reflects the lessee e<span class="_ _5"/>xercising <span class="_ _5"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _5"/>termination options in lease contr<span class="_ _5"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _5"/>acts where it<span class="_ _5"/> is reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk will ex<span class="_ _5"/>ercise the options<span class="_ _5"/>. <span class="_ _5"/>These terms ar<span class="_ _5"/>e used </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to maximise oper<span class="_ _5"/>ational flexibility in <span class="_ _5"/>terms of managing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _5"/>acts. In<span class="_ _5"/> determining the lease <span class="_ _5"/>term, Managemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers all facts and cir<span class="_ _5"/>cumstances that<span class="_ _5"/> creat<span class="_ _5"/>e an eco<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic incentive <span class="_ _5"/>to exercise an<span class="_ _5"/> extension option or<span class="_ _5"/> t<span class="_ _5"/>o not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exer<span class="_ _5"/>cise a termination<span class="_ _5"/> option. Most<span class="_ _5"/> of the extension and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination options held ar<span class="_ _5"/>e exercisable onl<span class="_ _5"/>y by<span class="_ _5"/> Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and not by<span class="_ _5"/> the r<span class="_ _5"/>espective lessor<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>This assessment is r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">view<span class="_ _5"/>ed if a<span class="_ _5"/> significant event<span class="_ _5"/> or<span class="_ _5"/> a significant change in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circum<span class="_ _8"/>stances occurs which aff<span class="_ _5"/>ects this assessment,<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which is within <span class="_ _5"/>the control of <span class="_ _5"/>the lessee.<span class="_ _5"/> Where Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will probabl<span class="_ _5"/>y exer<span class="_ _5"/>cise specific purchase options<span class="_ _5"/>, <span class="_ _5"/>those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options are included in <span class="_ _5"/>the measurement<span class="_ _5"/> of the lease li-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability with<span class="_ _5"/> corresponding right<span class="_ _5"/>-of-use asset depr<span class="_ _5"/>eciated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/> the asset’<span class="_ _5"/>s useful life r<span class="_ _5"/>ather<span class="_ _5"/> than lease <span class="_ _5"/>term.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Right-of<span class="_ _5"/>-use assets<span class="ff3"> are mainl<span class="_ _5"/>y leased v<span class="_ _5"/>essels, con<span class="_ _5"/>tainers, </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession arr<span class="_ _5"/>angements and real esta<span class="_ _5"/>te.<span class="_ _5"/> Lease contracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> vessels and c<span class="_ _5"/>ontainers are typical<span class="_ _5"/>ly made f<span class="_ _5"/>or fix<span class="_ _5"/>ed pe-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riods of about five <span class="_ _5"/>years but ma<span class="_ _5"/>y have ext<span class="_ _5"/>ension options </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as described to<span class="_ _5"/>gether<span class="_ _5"/> with lease liabilities.<span class="_ _5"/> Concession </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arrang<span class="_ _5"/>ements and real estate con<span class="_ _5"/>tracts ar<span class="_ _5"/>e negotiated on<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an individual basis and contain a <span class="_ _5"/>wide range of <span class="_ _5"/>terms and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Leases are r<span class="_ _5"/>ecognised as a right<span class="_ _5"/>-of-use asset <span class="_ _5"/>with a <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding lease liability<span class="_ _5"/> at <span class="_ _5"/>the date on which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased asset is av<span class="_ _5"/>ailable for<span class="_ _5"/> use.<span class="_ _5"/> The right<span class="_ _5"/>-of-use asset </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is depreciat<span class="_ _5"/>ed over<span class="_ _5"/> the shorter<span class="_ _5"/> of <span class="_ _5"/>the asset’s useful lif<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the lease <span class="_ _5"/>term on a str<span class="_ _5"/>aight<span class="_ _5"/>-line basis.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Payments associated with short<span class="_ _5"/>-<span class="_ _5"/>term leases and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leases of low-<span class="_ _5"/>value assets ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised on a straight<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">line basis as an expense in <span class="_ _5"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _5"/>e measured at <span class="_ _5"/>the present<span class="_ _5"/> v<span class="_ _5"/>alue of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _5"/> <span class="_ _5"/>the lease term,<span class="_ _5"/> at <span class="_ _5"/>the interest<span class="_ _5"/> r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _5"/>the lease,<span class="_ _5"/> or at<span class="_ _5"/> Maersk’<span class="_ _5"/>s incremental borr<span class="_ _5"/>owing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te (IBR). Maersk’<span class="_ _5"/>s IBR re<span class="_ _5"/>flects the Group’<span class="_ _5"/>s cr<span class="_ _5"/>edit risk,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased amount,<span class="_ _5"/> and contract<span class="_ _5"/> duration,<span class="_ _5"/> as wel<span class="_ _5"/>l as the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nature and quality<span class="_ _5"/> of the asset’<span class="_ _5"/>s security and economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">environmen<span class="_ _5"/>t in which <span class="_ _5"/>the leased assets opera<span class="_ _5"/>te.<span class="_ _5"/> T<span class="_ _0"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determine the IBR,<span class="_ _5"/> wher<span class="_ _5"/>e possible, Maersk uses r<span class="_ _5"/>ecent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _5"/> financing received by<span class="_ _5"/> the individual lessee as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a starting point,<span class="_ _5"/> with adjustments <span class="_ _5"/>to reflect<span class="_ _5"/> changes in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financing conditions since that<span class="_ _5"/> financing was r<span class="_ _5"/>eceived.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Where such financing is not<span class="_ _5"/> available,<span class="_ _5"/> Maersk uses a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">build-up approach <span class="_ _5"/>that starts with<span class="_ _5"/> a risk<span class="_ _5"/>- free inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te adjusted by cr<span class="_ _5"/>edit risk and specific risks f<span class="_ _5"/>aced by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _8"/>lessee such as asset <span class="_ _5"/>type,<span class="_ _5"/> geogr<span class="_ _5"/>aphical risks,<span class="_ _5"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Subsequentl<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>the lease liability is measured a<span class="_ _5"/>t amor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _5"/> each lease payment al<span class="_ _5"/>located between <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _5"/>t of the liability<span class="_ _5"/> and financing cost. <span class="_ _5"/>The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _5"/>ged to <span class="_ _5"/>the income statement<span class="_ _5"/> over<span class="_ _5"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _5"/>the IBR that<span class="_ _5"/> was used <span class="_ _5"/>to discount <span class="_ _5"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _5"/>yments are included in <span class="_ _5"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _5"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>fixed pa<span class="_ _5"/>yments (including in-substance fixed pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments),<span class="_ _5"/> less any lease incentives r<span class="_ _5"/>eceivable</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>v<span class="_ _5"/>ariable lease payments that<span class="_ _5"/> are based on an<span class="_ _5"/> index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _8"/>r a r<span class="_ _8"/>at<span class="_ _8"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>amounts e<span class="_ _5"/>xpected to be pa<span class="_ _5"/>yable by <span class="_ _5"/>the lessee under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _5"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>the ex<span class="_ _5"/>ercise price of a pur<span class="_ _5"/>chase option if the lessee is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>to exercise <span class="_ _5"/>that option,<span class="_ _5"/> and pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _5"/>or <span class="_ _5"/>terminating the lease<span class="_ _5"/>, if <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _5"/> reflects the lessee e<span class="_ _5"/>xercising <span class="_ _5"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _5"/>termination options in lease contr<span class="_ _5"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _5"/>acts where it<span class="_ _5"/> is reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk will ex<span class="_ _5"/>ercise the options<span class="_ _5"/>. <span class="_ _5"/>These terms ar<span class="_ _5"/>e used </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to maximise oper<span class="_ _5"/>ational flexibility in <span class="_ _5"/>terms of managing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _5"/>acts. In<span class="_ _5"/> determining the lease <span class="_ _5"/>term, Managemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers all facts and cir<span class="_ _5"/>cumstances that<span class="_ _5"/> creat<span class="_ _5"/>e an eco<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic incentive <span class="_ _5"/>to exercise an<span class="_ _5"/> extension option or<span class="_ _5"/> t<span class="_ _5"/>o not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exer<span class="_ _5"/>cise a termination<span class="_ _5"/> option. Most<span class="_ _5"/> of the extension and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination options held ar<span class="_ _5"/>e exercisable onl<span class="_ _5"/>y by<span class="_ _5"/> Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and not by<span class="_ _5"/> the r<span class="_ _5"/>espective lessor<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>This assessment is r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">view<span class="_ _5"/>ed if a<span class="_ _5"/> significant event<span class="_ _5"/> or<span class="_ _5"/> a significant change in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circum<span class="_ _8"/>stances occurs which aff<span class="_ _5"/>ects this assessment,<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which is within <span class="_ _5"/>the control of <span class="_ _5"/>the lessee.<span class="_ _5"/> Where Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will probabl<span class="_ _5"/>y exer<span class="_ _5"/>cise specific purchase options<span class="_ _5"/>, <span class="_ _5"/>those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options are included in <span class="_ _5"/>the measurement<span class="_ _5"/> of the lease li-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability with<span class="_ _5"/> corresponding right<span class="_ _5"/>-of-use asset depr<span class="_ _5"/>eciated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/> the asset’<span class="_ _5"/>s useful life r<span class="_ _5"/>ather<span class="_ _5"/> than lease <span class="_ _5"/>term.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _5"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _5"/>, <span class="_ _5"/>the acquired assets,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _5"/> liabilities are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _5"/> the date <span class="_ _5"/>when control <span class="_ _5"/>was achieved using <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _5"/> Identifiable intangible assets are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised if they<span class="_ _5"/> arise from a contr<span class="_ _5"/>actual right or<span class="_ _5"/> can<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">otherwise be separa<span class="_ _5"/>tely iden<span class="_ _5"/>tified. <span class="_ _5"/>The differenc<span class="_ _5"/>e be<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the f<span class="_ _5"/>air<span class="_ _5"/> value of <span class="_ _5"/>the acquisition cost and <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of acquir<span class="_ _5"/>ed identifiable net assets is r<span class="_ _5"/>ecognised as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill.<span class="_ _5"/> Contingent<span class="_ _5"/> consideration<span class="_ _5"/> is measured at f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value and any<span class="_ _5"/> subsequent changes <span class="_ _5"/>to contingent<span class="_ _5"/> consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion are r<span class="_ _5"/>ecognised as financial income or<span class="_ _5"/> financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expense in the inc<span class="_ _5"/>ome statement.<span class="_ _5"/> If contingent consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion is settled by issuing a pr<span class="_ _5"/>edetermined number<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of shares,<span class="_ _5"/> the c<span class="_ _5"/>ontingent consider<span class="_ _5"/>ation is classified as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and is subsequentl<span class="_ _5"/>y not r<span class="_ _5"/>emeasured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansaction costs are r<span class="_ _5"/>ecognised as oper<span class="_ _5"/>ating costs as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ar<span class="_ _5"/>e incurred.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When Maersk ceases t<span class="_ _5"/>o have contr<span class="_ _5"/>ol of a subsidiary<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue of any r<span class="_ _5"/>etained investment is r<span class="_ _5"/>emeasured at<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue, and <span class="_ _5"/>the v<span class="_ _5"/>alue adjustment is r<span class="_ _5"/>ecognised in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _5"/> as a gain/loss on <span class="_ _5"/>the sale of non- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _5"/> assets.<span class="_ _5"/> The differ<span class="_ _5"/>ence between sales pr<span class="_ _5"/>oceeds </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the carrying amount<span class="_ _5"/> of the subsidiary<span class="_ _5"/> is recognised<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement including f<span class="_ _5"/>air <span class="_ _5"/>value of con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tingent c<span class="_ _5"/>onsideration a<span class="_ _5"/>t the <span class="_ _5"/>time of sale.<span class="_ _5"/> Contingent<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _5"/>tion is remeasur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value with changes<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t. <span class="_ _5"/>The effect o<span class="_ _5"/>f the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests without<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _5"/>ol is included directly<span class="_ _5"/> in equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _5"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _5"/>, <span class="_ _5"/>the acquired assets,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _5"/> liabilities are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _5"/> the date <span class="_ _5"/>when control <span class="_ _5"/>was achieved using <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _5"/> Identifiable intangible assets are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised if they<span class="_ _5"/> arise from a contr<span class="_ _5"/>actual right or<span class="_ _5"/> can<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">otherwise be separa<span class="_ _5"/>tely iden<span class="_ _5"/>tified. <span class="_ _5"/>The differenc<span class="_ _5"/>e be<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the f<span class="_ _5"/>air<span class="_ _5"/> value of <span class="_ _5"/>the acquisition cost and <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of acquir<span class="_ _5"/>ed identifiable net assets is r<span class="_ _5"/>ecognised as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill.<span class="_ _5"/> Contingent<span class="_ _5"/> consideration<span class="_ _5"/> is measured at f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value and any<span class="_ _5"/> subsequent changes <span class="_ _5"/>to contingent<span class="_ _5"/> consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion are r<span class="_ _5"/>ecognised as financial income or<span class="_ _5"/> financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expense in the inc<span class="_ _5"/>ome statement.<span class="_ _5"/> If contingent consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion is settled by issuing a pr<span class="_ _5"/>edetermined number<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of shares,<span class="_ _5"/> the c<span class="_ _5"/>ontingent consider<span class="_ _5"/>ation is classified as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and is subsequentl<span class="_ _5"/>y not r<span class="_ _5"/>emeasured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansaction costs are r<span class="_ _5"/>ecognised as oper<span class="_ _5"/>ating costs as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ar<span class="_ _5"/>e incurred.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When Maersk ceases t<span class="_ _5"/>o have contr<span class="_ _5"/>ol of a subsidiary<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue of any r<span class="_ _5"/>etained investment is r<span class="_ _5"/>emeasured at<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue, and <span class="_ _5"/>the v<span class="_ _5"/>alue adjustment is r<span class="_ _5"/>ecognised in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _5"/> as a gain/loss on <span class="_ _5"/>the sale of non- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _5"/> assets.<span class="_ _5"/> The differ<span class="_ _5"/>ence between sales pr<span class="_ _5"/>oceeds </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the carrying amount<span class="_ _5"/> of the subsidiary<span class="_ _5"/> is recognised<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement including f<span class="_ _5"/>air <span class="_ _5"/>value of con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tingent c<span class="_ _5"/>onsideration a<span class="_ _5"/>t the <span class="_ _5"/>time of sale.<span class="_ _5"/> Contingent<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _5"/>tion is remeasur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value with changes<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t. <span class="_ _5"/>The effect o<span class="_ _5"/>f the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests without<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _5"/>ol is included directly<span class="_ _5"/> in equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _5"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _5"/>, <span class="_ _5"/>the acquired assets,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _5"/> liabilities are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _5"/> the date <span class="_ _5"/>when control <span class="_ _5"/>was achieved using <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _5"/> Identifiable intangible assets are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised if they<span class="_ _5"/> arise from a contr<span class="_ _5"/>actual right or<span class="_ _5"/> can<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">otherwise be separa<span class="_ _5"/>tely iden<span class="_ _5"/>tified. <span class="_ _5"/>The differenc<span class="_ _5"/>e be<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the f<span class="_ _5"/>air<span class="_ _5"/> value of <span class="_ _5"/>the acquisition cost and <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of acquir<span class="_ _5"/>ed identifiable net assets is r<span class="_ _5"/>ecognised as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill.<span class="_ _5"/> Contingent<span class="_ _5"/> consideration<span class="_ _5"/> is measured at f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value and any<span class="_ _5"/> subsequent changes <span class="_ _5"/>to contingent<span class="_ _5"/> consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion are r<span class="_ _5"/>ecognised as financial income or<span class="_ _5"/> financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expense in the inc<span class="_ _5"/>ome statement.<span class="_ _5"/> If contingent consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion is settled by issuing a pr<span class="_ _5"/>edetermined number<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of shares,<span class="_ _5"/> the c<span class="_ _5"/>ontingent consider<span class="_ _5"/>ation is classified as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and is subsequentl<span class="_ _5"/>y not r<span class="_ _5"/>emeasured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansaction costs are r<span class="_ _5"/>ecognised as oper<span class="_ _5"/>ating costs as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ar<span class="_ _5"/>e incurred.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When Maersk ceases t<span class="_ _5"/>o have contr<span class="_ _5"/>ol of a subsidiary<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue of any r<span class="_ _5"/>etained investment is r<span class="_ _5"/>emeasured at<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue, and <span class="_ _5"/>the v<span class="_ _5"/>alue adjustment is r<span class="_ _5"/>ecognised in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _5"/> as a gain/loss on <span class="_ _5"/>the sale of non- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _5"/> assets.<span class="_ _5"/> The differ<span class="_ _5"/>ence between sales pr<span class="_ _5"/>oceeds </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the carrying amount<span class="_ _5"/> of the subsidiary<span class="_ _5"/> is recognised<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement including f<span class="_ _5"/>air <span class="_ _5"/>value of con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tingent c<span class="_ _5"/>onsideration a<span class="_ _5"/>t the <span class="_ _5"/>time of sale.<span class="_ _5"/> Contingent<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _5"/>tion is remeasur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value with changes<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t. <span class="_ _5"/>The effect o<span class="_ _5"/>f the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests without<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _5"/>ol is included directly<span class="_ _5"/> in equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.4 <span class="_ _2"> </span>Acquisition/<span class="_ _5"/>sale of subsidiaries and activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisitions during 2024</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No material acquisitions <span class="_ _5"/>took place during 2024<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisitions during 2023 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Martin Bencher<span class="_ _5"/> <span class="_ _5"/>Group (Logistics &amp; Services) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 2 January<span class="_ _5"/> 2023,<span class="_ _5"/> the Gr<span class="_ _5"/>oup acquired 100% of <span class="_ _5"/>the shares in Martin Bencher<span class="_ _5"/> Gr<span class="_ _5"/>oup, a<span class="_ _5"/> Denmark-based pr<span class="_ _5"/>oject lo<span class="_ _5"/>gistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">company f<span class="_ _5"/>or <span class="_ _5"/>the purchase price of USD<span class="_ _5"/> 53m and resul<span class="_ _5"/>ted in goodwill of USD<span class="_ _5"/> 11m. Martin Bencher<span class="_ _5"/> Gr<span class="_ _5"/>oup complemented </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the existing Maersk project<span class="_ _5"/> logistics services,<span class="_ _5"/> with specialised services off<span class="_ _5"/>ering the combination of solution design,<span class="_ _5"/> special </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cargo <span class="_ _5"/>transportation<span class="_ _5"/> and project manag<span class="_ _5"/>ement services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Grindrod Intermodal Group (L<span class="_ _5"/>ogistics &amp; Services)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 2 January<span class="_ _5"/> 2023,<span class="_ _5"/> the Gr<span class="_ _5"/>oup completed the acquisition<span class="_ _5"/> of Grindrod Logistics with<span class="_ _5"/> a control<span class="_ _5"/>ling interest<span class="_ _5"/> of 51% for<span class="_ _5"/> a purchase </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">price of USD 44m,<span class="_ _5"/> which resul<span class="_ _5"/>ted in goodwil<span class="_ _5"/>l of USD 15m. <span class="_ _5"/>The Group partner<span class="_ _5"/>ed with Grindr<span class="_ _5"/>od Intermodal Group <span class="_ _5"/>to merg<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the logistics activities of Grindrod In<span class="_ _5"/>termodal business and the ocean activities of <span class="_ _5"/>the Ocean <span class="_ _5"/>Africa Container<span class="_ _5"/> Lines (OACL) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with the existing Maersk Lo<span class="_ _5"/>gistics &amp; Services products in South <span class="_ _5"/>Africa.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquired goodwil<span class="_ _5"/>l from <span class="_ _5"/>the above acquisitions wer<span class="_ _5"/>e not allo<span class="_ _5"/>wable for<span class="_ _5"/> tax purposes<span class="_ _5"/>. For<span class="_ _5"/> further<span class="_ _5"/> details,<span class="_ _5"/> see the 2023 <span class="_ _5"/>Annual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Report.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sales during 2024</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">With the demer<span class="_ _5"/>ger<span class="_ _5"/> of Svitzer<span class="_ _5"/> and <span class="_ _5"/>the distribution of the shar<span class="_ _5"/>es of Svitzer<span class="_ _5"/> Gr<span class="_ _5"/>oup A/S <span class="_ _5"/>to the Gr<span class="_ _5"/>oup’s shar<span class="_ _5"/>eholders,<span class="_ _5"/> the Gr<span class="_ _5"/>oup </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lost contr<span class="_ _5"/>ol over<span class="_ _5"/> Svitz<span class="_ _5"/>er <span class="_ _5"/>A/S and its subsidiaries.<span class="_ _5"/> Consequently<span class="_ _5"/>,<span class="_ _5"/> the Gr<span class="_ _5"/>oup dereco<span class="_ _5"/>gnised the assets and liabilities of S<span class="_ _5"/>vitzer<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group in <span class="_ _5"/>the consolidated financial statemen<span class="_ _5"/>ts. <span class="_ _5"/>This is further<span class="_ _5"/> disclosed in note 3<span class="_ _5"/>.6 As<span class="_ _5"/>sets held for<span class="_ _5"/> sale or distribution.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">No other<span class="_ _5"/> material external sales w<span class="_ _5"/>ere undertak<span class="_ _5"/>en during 2024.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sales during 2023</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">US Marine Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 20 September<span class="_ _5"/> 2023<span class="_ _5"/>, <span class="_ _5"/>the sale of US Marine Management LL<span class="_ _5"/>C was complet<span class="_ _5"/>ed and result<span class="_ _5"/>ed in a net gain<span class="_ _5"/> of USD 92m <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> USD 7<span class="_ _5"/>4m after<span class="_ _5"/> <span class="_ _5"/>tax. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 15 May<span class="_ _5"/> 2023,<span class="_ _5"/> the sale of Maersk Supply<span class="_ _5"/> Service t<span class="_ _5"/>o A.P<span class="_ _f"/>. Møller<span class="_ _5"/> Holding A/S <span class="_ _5"/>was completed and r<span class="_ _5"/>esulted in a net<span class="_ _5"/> gain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 15m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Höegh Autoliners </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group completed <span class="_ _5"/>the sale of the 26<span class="_ _5"/>.4% shareholding in Höe<span class="_ _5"/>gh Aut<span class="_ _5"/>oliners during 2023 and resulted in<span class="_ _5"/> a gain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 57<span class="_ _5"/>m.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The net gain fr<span class="_ _5"/>om the abo<span class="_ _5"/>ve sales is included in the unal<span class="_ _5"/>located items as per<span class="_ _5"/> note 2.<span class="_ _0"/>1 segment informa<span class="_ _5"/>tion. <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> further details<span class="_ _5"/>, see <span class="_ _5"/>the 2023 Annual Report.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _5"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _5"/>, <span class="_ _5"/>the acquired assets,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _5"/> liabilities are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _5"/> the date <span class="_ _5"/>when control <span class="_ _5"/>was achieved using <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _5"/> Identifiable intangible assets are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised if they<span class="_ _5"/> arise from a contr<span class="_ _5"/>actual right or<span class="_ _5"/> can<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">otherwise be separa<span class="_ _5"/>tely iden<span class="_ _5"/>tified. <span class="_ _5"/>The differenc<span class="_ _5"/>e be<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the f<span class="_ _5"/>air<span class="_ _5"/> value of <span class="_ _5"/>the acquisition cost and <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of acquir<span class="_ _5"/>ed identifiable net assets is r<span class="_ _5"/>ecognised as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill.<span class="_ _5"/> Contingent<span class="_ _5"/> consideration<span class="_ _5"/> is measured at f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value and any<span class="_ _5"/> subsequent changes <span class="_ _5"/>to contingent<span class="_ _5"/> consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion are r<span class="_ _5"/>ecognised as financial income or<span class="_ _5"/> financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expense in the inc<span class="_ _5"/>ome statement.<span class="_ _5"/> If contingent consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">era<span class="_ _5"/>tion is settled by issuing a pr<span class="_ _5"/>edetermined number<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of shares,<span class="_ _5"/> the c<span class="_ _5"/>ontingent consider<span class="_ _5"/>ation is classified as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and is subsequentl<span class="_ _5"/>y not r<span class="_ _5"/>emeasured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansaction costs are r<span class="_ _5"/>ecognised as oper<span class="_ _5"/>ating costs as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ar<span class="_ _5"/>e incurred.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When Maersk ceases t<span class="_ _5"/>o have contr<span class="_ _5"/>ol of a subsidiary<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the v<span class="_ _5"/>alue of any r<span class="_ _5"/>etained investment is r<span class="_ _5"/>emeasured at<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue, and <span class="_ _5"/>the v<span class="_ _5"/>alue adjustment is r<span class="_ _5"/>ecognised in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _5"/> as a gain/loss on <span class="_ _5"/>the sale of non- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _5"/> assets.<span class="_ _5"/> The differ<span class="_ _5"/>ence between sales pr<span class="_ _5"/>oceeds </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the carrying amount<span class="_ _5"/> of the subsidiary<span class="_ _5"/> is recognised<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _5"/>tement including f<span class="_ _5"/>air <span class="_ _5"/>value of con<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tingent c<span class="_ _5"/>onsideration a<span class="_ _5"/>t the <span class="_ _5"/>time of sale.<span class="_ _5"/> Contingent<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _5"/>tion is remeasur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value with changes<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t. <span class="_ _5"/>The effect o<span class="_ _5"/>f the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _5"/>olling inter<span class="_ _5"/>ests without<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _5"/>ol is included directly<span class="_ _5"/> in equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.5 <span class="_"> </span>T<span class="_ _f"/>erm deposits and other r<span class="_ _5"/>eceiv<span class="_ _5"/>ables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loan receiv<span class="_ _5"/>ables,<span class="_ _5"/> current,<span class="_ _5"/> amount <span class="_ _5"/>to USD 15<span class="_ _5"/>.9bn (USD<span class="_ _5"/> 12.8bn) and consist primarily<span class="_ _5"/> of term<span class="_ _5"/> deposits with a maturity<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _5"/>than thr<span class="_ _5"/>ee months amounting to USD<span class="_ _5"/> 15.<span class="_ _5"/>9bn (USD 12.8bn).<span class="_ _5"/> For<span class="_ _5"/> details on the assessment<span class="_ _5"/> of the loss al<span class="_ _5"/>lowance on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term deposits,<span class="_ _5"/> ref<span class="_ _5"/>er <span class="_ _5"/>to note 4<span class="_ _5"/>.5 financial instruments and risks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:193.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 63.0996px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liquidity risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing debt and liquidity</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> reserve</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.441px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 340.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-7,373</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4,658</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 569.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Restricted cash</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.132px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-928</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.811px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash management</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> over</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">drafts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 337.465px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.701px; width: 569.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erm deposits not included in cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.857px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,731</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,693</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.592px; width: 569.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 417.979px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 168.482px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Undra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">wn rev</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olving credit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> facilities &gt; 12 months</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,050</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,050</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 81.3438px; top: 183.258px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 458.141px; top: 183.373px; width: 111.967px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">28,976</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,402</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.373px; width: 80.8125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liquidity reserv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Liquidity r<span class="_ _5"/>eserve is defined as undrawn<span class="_ _5"/> committed revol<span class="_ _5"/>ving facilities with mor<span class="_ _5"/>e than one y<span class="_ _5"/>ear <span class="_ _5"/>to expiry<span class="_ _5"/>, securities<span class="_ _5"/>, t<span class="_ _5"/>erm deposits and cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and bank balances,<span class="_ _5"/> net of cash management<span class="_ _5"/> overdr<span class="_ _5"/>aft, ex<span class="_ _5"/>cluding securities, ov<span class="_ _5"/>erdrafts and balances in<span class="_ _5"/> countries with exchange con<span class="_ _5"/>trol or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other r<span class="_ _5"/>estrictions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The 2023 liquidity reserve was r<span class="_ _5"/>estated from<span class="_ _5"/> to include the cash manag<span class="_ _5"/>ement over<span class="_ _5"/>drafts of USD 18m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> information about<span class="_ _5"/> cash and bank balances in countries with e<span class="_ _5"/>xchange control or<span class="_ _5"/> other<span class="_ _5"/> r<span class="_ _5"/>estrictions, r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 5.5 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow specifications<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Based on the liquidity<span class="_ _5"/> reserve<span class="_ _5"/>, loans for<span class="_ _5"/> <span class="_ _5"/>the financing of specific assets, <span class="_ _5"/>the maturity of outstanding loans<span class="_ _5"/>, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current investmen<span class="_ _5"/>t profile<span class="_ _5"/>, <span class="_ _5"/>the Group’<span class="_ _5"/>s financial resour<span class="_ _5"/>ces are deemed satisf<span class="_ _5"/>actory<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age term<span class="_ _5"/> to maturity<span class="_ _5"/> of loan facilities in <span class="_ _5"/>the Group w<span class="_ _5"/>as about 5 y<span class="_ _5"/>ears (about 5 y<span class="_ _5"/>ears) at 31 December<span class="_ _5"/> 2024<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:449.21875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 225.391px; top: 0.0136718px; width: 41.8359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 357.156px; top: 0.0136718px; width: 135.158px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows including int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 14.9043px; width: 111.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturities of liabilities </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 226.484px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 26.9043px; width: 86.0508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and commitments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 26.9043px; width: 245.285px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 545.051px; top: 26.9043px; width: 24.0645px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.8358px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">235</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">658</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">222</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,115</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,244</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,475</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,189</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,908</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 569.936px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">– of which inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">560</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,496</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.256px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">473</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,893</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,793</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,159</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 126.029px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 570.041px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,687</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,665</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,687</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,862</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,315</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,038</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,214</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29,567</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 170.701px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">225</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">258</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 185.576px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,540</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,296</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,289</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,125</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 215.373px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.66px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,994</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,507</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">914</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,415</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 230.264px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,534</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,803</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,203</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">38,540</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.045px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 274.936px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.8358px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">259</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">273</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,208</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 289.826px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,811</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,292</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,223</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 304.717px; width: 569.936px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">– of which inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">458</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,078</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,239</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,775</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 319.607px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.256px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">115</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,907</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,127</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 334.498px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 349.389px; width: 570.041px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,516</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,479</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,516</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 364.279px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,731</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,374</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,418</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,683</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,475</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 379.154px; width: 569.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">72</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 394.045px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,446</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,765</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,870</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 423.842px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.66px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,955</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,228</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">683</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,866</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 438.732px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,887</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,736</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">It is of gr<span class="_ _5"/>eat importance f<span class="_ _5"/>or <span class="_ _5"/>the Group <span class="_ _5"/>to maintain a financial r<span class="_ _5"/>eserve to co<span class="_ _5"/>ver<span class="_ _5"/> the Group’<span class="_ _5"/>s obligations and in<span class="_ _5"/>vestment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opportunities and to pr<span class="_ _5"/>ovide the capital necessary<span class="_ _5"/> to o<span class="_ _5"/>ffset changes in <span class="_ _5"/>the Group’<span class="_ _5"/>s liquidity due <span class="_ _5"/>to changes in <span class="_ _5"/>the cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow <span class="_ _8"/>from oper<span class="_ _5"/>ating activities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The flexibility of <span class="_ _5"/>the financial reserve is subject<span class="_ _5"/> to ong<span class="_ _5"/>oing prioritisation and optimisation, among other<span class="_ _5"/> <span class="_ _5"/>things by<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">focus<span class="_ _8"/>ing on the r<span class="_ _5"/>elease of capital and follo<span class="_ _5"/>wing up on the developmen<span class="_ _5"/>t in working capital.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> receivables primaril<span class="_ _5"/>y consist<span class="_ _5"/> of prepayments made f<span class="_ _5"/>or oper<span class="_ _5"/>ational activities <span class="_ _5"/>that wil<span class="_ _5"/>l be utilised after<span class="_ _5"/> <span class="_ _5"/>twel<span class="_ _5"/>ve<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">months amounting t<span class="_ _5"/>o USD 1.<span class="_ _5"/>9bn (USD 1.3bn) and EUAs amounting <span class="_ _5"/>to USD 163m (USD 0m).<span class="_ _5"/> For<span class="_ _5"/> details on the significan<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting judgements r<span class="_ _5"/>egar<span class="_ _5"/>ding EUAs,<span class="_ _5"/> refer<span class="_ _5"/> <span class="_ _5"/>to note 2.2 oper<span class="_ _5"/>ating costs.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>6 <span class="_"> </span>Asset<span class="_ _5"/>s held for sale or distribution</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:215.515625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 134.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Balance sheet items comprise:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 41.2324px; width: 569.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.001px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">59</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 56.123px; width: 569.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and equipment and right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,303</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 71.0137px; width: 570.07px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax assets</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 398.231px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.9043px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 430.507px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">167</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.795px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 394.534px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,581</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.686px; width: 569.947px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 483.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">209</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.576px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale or</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 320.467px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,790</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.357px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 440.741px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.248px; width: 570.064px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax liabilities</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.139px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 417.979px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">209</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 205.029px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liabilities associated with assets held f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or sale or</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">248</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2023<span class="_ _5"/>, S<span class="_ _5"/>vitzer<span class="_ _5"/> and one terminal w<span class="_ _5"/>ere classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The div<span class="_ _5"/>estment of <span class="_ _5"/>the terminal w<span class="_ _5"/>as discontinued follow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing the withdraw<span class="_ _5"/>al of the <span class="_ _8"/>buyer<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Svitzer</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the Extr<span class="_ _5"/>aordinary Gener<span class="_ _5"/>al Meeting held on 26 <span class="_ _5"/>April 2024<span class="_ _5"/>, <span class="_ _5"/>the demerger<span class="_ _5"/> and separ<span class="_ _5"/>ate listing of Svitz<span class="_ _5"/>er<span class="_ _5"/> was completed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and approv<span class="_ _5"/>ed by <span class="_ _5"/>the Board of Direct<span class="_ _5"/>ors.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>A.P<span class="_ _9"/>. Mø<span class="_ _5"/>ller<span class="_ _5"/> <span class="_ _5"/>- Mær<span class="_ _5"/>sk <span class="_ _5"/>A/S <span class="_ _5"/>injected 100% of the shar<span class="_ _5"/>es in Svitz<span class="_ _5"/>er <span class="_ _5"/>A/S<span class="_ _5"/>, including <span class="_ _5"/>the company’<span class="_ _5"/>s subsidiaries as well as <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain other<span class="_ _5"/> assets and liabilities relat<span class="_ _5"/>ed to Maersk’<span class="_ _5"/>s t<span class="_ _5"/>owage activities,<span class="_ _5"/> into <span class="_ _5"/>the new company<span class="_ _5"/>,<span class="_ _5"/> Svitzer<span class="_ _5"/> Gr<span class="_ _5"/>oup A/S<span class="_ _5"/>.<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The shares of S<span class="_ _5"/>vitzer<span class="_ _5"/> Group <span class="_ _5"/>A/S wer<span class="_ _5"/>e admitted to <span class="_ _5"/>trading and <span class="_ _5"/>were officiall<span class="_ _5"/>y listed on Nasdaq Copenhag<span class="_ _5"/>en with the<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">firs<span class="_ _8"/>t tr<span class="_ _5"/>ading day being 30 <span class="_ _5"/>April 2024<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IFRIC 17<span class="_ _5"/> requir<span class="_ _5"/>es recognition<span class="_ _5"/> of non-cash distributions to shar<span class="_ _5"/>eholders at <span class="_ _5"/>the fair<span class="_ _5"/> value o<span class="_ _5"/>f assets distributed. How<span class="_ _5"/>ever<span class="_ _5"/>,<span class="_ _5"/> it </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also provides an<span class="_ _5"/> exception for<span class="_ _5"/> a distribution of a<span class="_ _5"/> non-cash asset <span class="_ _5"/>that is ultimat<span class="_ _5"/>ely con<span class="_ _5"/>trolled by<span class="_ _5"/> the same party<span class="_ _5"/> or parties </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _5"/>e and after<span class="_ _5"/> the distribution.<span class="_ _5"/> Due to S<span class="_ _5"/>vitzer<span class="_ _5"/> being ultimatel<span class="_ _5"/>y contr<span class="_ _5"/>olled by <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Møllers Fond <span class="_ _5"/>til almene Formaal before and aft<span class="_ _5"/>er <span class="_ _5"/>the demerger<span class="_ _0"/>, this demer<span class="_ _5"/>ger<span class="_ _5"/> is excluded from<span class="_ _5"/> the scope of IFRIC 17<span class="_ _f"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>. Møl<span class="_ _5"/>ler o<span class="_ _5"/>g Hustru Chastine Mc<span class="_ _5"/>-Kinney<span class="_ _5"/> Møllers Fond til almene Formaal,<span class="_ _5"/> thr<span class="_ _5"/>ough A.P<span class="_ _f"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> effectivel<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exer<span class="_ _5"/>cises de facto contr<span class="_ _5"/>ol over<span class="_ _5"/> Svitzer<span class="_ _5"/> as it<span class="_ _5"/> holds significantly mor<span class="_ _5"/>e voting rights <span class="_ _5"/>than any<span class="_ _5"/> other shar<span class="_ _5"/>eholders,<span class="_ _5"/> and other </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shareholdings ar<span class="_ _5"/>e widely<span class="_ _5"/> dispersed. <span class="_ _5"/>Theref<span class="_ _5"/>ore,<span class="_ _5"/> the distribution is measur<span class="_ _5"/>ed using the carrying <span class="_ _5"/>value of Svitz<span class="_ _5"/>er’s net<span class="_ _5"/> assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as of the demer<span class="_ _5"/>ger<span class="_ _5"/> date amounting t<span class="_ _5"/>o USD 1.0bn.<span class="_ _5"/> Consequently<span class="_ _5"/>,<span class="_ _5"/> no gain or<span class="_ _5"/> loss on disposal w<span class="_ _5"/>as recognised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>As the demerger<span class="_ _5"/> did not r<span class="_ _5"/>esult in<span class="_ _5"/> any gain or<span class="_ _5"/> loss on disposal,<span class="_ _5"/> Management<span class="_ _5"/> has selected the accoun<span class="_ _5"/>ting policy of <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erring the cumulative <span class="_ _5"/>translation<span class="_ _5"/> reserve within<span class="_ _5"/> equity<span class="_ _5"/>. <span class="_ _5"/>The cumulative <span class="_ _5"/>translation r<span class="_ _5"/>eserve of USD 22<span class="_ _5"/>4m relat<span class="_ _5"/>ed <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to Svitz<span class="_ _5"/>er as o<span class="_ _5"/>f the demerger<span class="_ _5"/> dat<span class="_ _5"/>e was r<span class="_ _5"/>eclassified within equity <span class="_ _5"/>to retained earnings<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _5"/> sale<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _5"/>ent asset,<span class="_ _5"/> or<span class="_ _5"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _5"/>, is r<span class="_ _5"/>ecovered principal<span class="_ _5"/>ly <span class="_ _5"/>through a sales<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> rather<span class="_ _5"/> than<span class="_ _5"/> through<span class="_ _5"/> continued use.<span class="_ _5"/> Assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _5"/>or sale <span class="_ _5"/>when activities to carry<span class="_ _5"/> out </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _5"/>ted, <span class="_ _5"/>when the activities ar<span class="_ _5"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _5"/> immediate sale in <span class="_ _5"/>their<span class="_ _5"/> present c<span class="_ _5"/>ondition, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _5"/>e expected <span class="_ _5"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _5"/> Liabilities directly<span class="_ _5"/> associated with<span class="_ _5"/> assets held </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> sale are pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> from other<span class="_ _5"/> liabilities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Assets held for sale ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount immediat<span class="_ _5"/>ely bef<span class="_ _5"/>ore classification as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale and fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. Impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tests are perf<span class="_ _5"/>ormed immediately<span class="_ _5"/> before classifica<span class="_ _5"/>tion as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale.<span class="_ _5"/> Non-current<span class="_ _5"/> assets are not depr<span class="_ _5"/>eciated or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised while classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> Measurement<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of deferr<span class="_ _5"/>ed tax and financial assets and liabilities is un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changed.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset<span class="_ _5"/> or a disposal gr<span class="_ _5"/>oup has been classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale or<span class="_ _5"/> distribution, but<span class="_ _5"/> the requir<span class="_ _5"/>ements are no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">longer<span class="_ _5"/> met, <span class="_ _5"/>the assets and relat<span class="_ _5"/>ed liabilities ceases to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The cessa<span class="_ _5"/>tion of the classifi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cation as held for<span class="_ _5"/> sale wil<span class="_ _5"/>l be reflected in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _5"/>f circumstances has occurr<span class="_ _5"/>ed. Com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _5"/>tive figures ar<span class="_ _5"/>e not resta<span class="_ _5"/>ted, and an<span class="_ _5"/>y adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _5"/>value of assets and liabilities pr<span class="_ _5"/>eviously<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _5"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>6 <span class="_"> </span>Asset<span class="_ _5"/>s held for sale or distribution</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:215.515625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 134.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Balance sheet items comprise:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 41.2324px; width: 569.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.001px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">59</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 56.123px; width: 569.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and equipment and right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,303</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 71.0137px; width: 570.07px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax assets</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 398.231px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.9043px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 430.507px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">167</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.795px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 394.534px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,581</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.686px; width: 569.947px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 483.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">209</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.576px; width: 569.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale or</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 320.467px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,790</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.357px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 440.741px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.248px; width: 570.064px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax liabilities</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.139px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 417.979px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">209</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 205.029px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liabilities associated with assets held f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or sale or</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">248</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2023<span class="_ _5"/>, S<span class="_ _5"/>vitzer<span class="_ _5"/> and one terminal w<span class="_ _5"/>ere classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The div<span class="_ _5"/>estment of <span class="_ _5"/>the terminal w<span class="_ _5"/>as discontinued follow<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing the withdraw<span class="_ _5"/>al of the <span class="_ _8"/>buyer<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Svitzer</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the Extr<span class="_ _5"/>aordinary Gener<span class="_ _5"/>al Meeting held on 26 <span class="_ _5"/>April 2024<span class="_ _5"/>, <span class="_ _5"/>the demerger<span class="_ _5"/> and separ<span class="_ _5"/>ate listing of Svitz<span class="_ _5"/>er<span class="_ _5"/> was completed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and approv<span class="_ _5"/>ed by <span class="_ _5"/>the Board of Direct<span class="_ _5"/>ors.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>A.P<span class="_ _9"/>. Mø<span class="_ _5"/>ller<span class="_ _5"/> <span class="_ _5"/>- Mær<span class="_ _5"/>sk <span class="_ _5"/>A/S <span class="_ _5"/>injected 100% of the shar<span class="_ _5"/>es in Svitz<span class="_ _5"/>er <span class="_ _5"/>A/S<span class="_ _5"/>, including <span class="_ _5"/>the company’<span class="_ _5"/>s subsidiaries as well as <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain other<span class="_ _5"/> assets and liabilities relat<span class="_ _5"/>ed to Maersk’<span class="_ _5"/>s t<span class="_ _5"/>owage activities,<span class="_ _5"/> into <span class="_ _5"/>the new company<span class="_ _5"/>,<span class="_ _5"/> Svitzer<span class="_ _5"/> Gr<span class="_ _5"/>oup A/S<span class="_ _5"/>.<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The shares of S<span class="_ _5"/>vitzer<span class="_ _5"/> Group <span class="_ _5"/>A/S wer<span class="_ _5"/>e admitted to <span class="_ _5"/>trading and <span class="_ _5"/>were officiall<span class="_ _5"/>y listed on Nasdaq Copenhag<span class="_ _5"/>en with the<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">firs<span class="_ _8"/>t tr<span class="_ _5"/>ading day being 30 <span class="_ _5"/>April 2024<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IFRIC 17<span class="_ _5"/> requir<span class="_ _5"/>es recognition<span class="_ _5"/> of non-cash distributions to shar<span class="_ _5"/>eholders at <span class="_ _5"/>the fair<span class="_ _5"/> value o<span class="_ _5"/>f assets distributed. How<span class="_ _5"/>ever<span class="_ _5"/>,<span class="_ _5"/> it </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also provides an<span class="_ _5"/> exception for<span class="_ _5"/> a distribution of a<span class="_ _5"/> non-cash asset <span class="_ _5"/>that is ultimat<span class="_ _5"/>ely con<span class="_ _5"/>trolled by<span class="_ _5"/> the same party<span class="_ _5"/> or parties </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _5"/>e and after<span class="_ _5"/> the distribution.<span class="_ _5"/> Due to S<span class="_ _5"/>vitzer<span class="_ _5"/> being ultimatel<span class="_ _5"/>y contr<span class="_ _5"/>olled by <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Møllers Fond <span class="_ _5"/>til almene Formaal before and aft<span class="_ _5"/>er <span class="_ _5"/>the demerger<span class="_ _0"/>, this demer<span class="_ _5"/>ger<span class="_ _5"/> is excluded from<span class="_ _5"/> the scope of IFRIC 17<span class="_ _f"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>. Møl<span class="_ _5"/>ler o<span class="_ _5"/>g Hustru Chastine Mc<span class="_ _5"/>-Kinney<span class="_ _5"/> Møllers Fond til almene Formaal,<span class="_ _5"/> thr<span class="_ _5"/>ough A.P<span class="_ _f"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> effectivel<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exer<span class="_ _5"/>cises de facto contr<span class="_ _5"/>ol over<span class="_ _5"/> Svitzer<span class="_ _5"/> as it<span class="_ _5"/> holds significantly mor<span class="_ _5"/>e voting rights <span class="_ _5"/>than any<span class="_ _5"/> other shar<span class="_ _5"/>eholders,<span class="_ _5"/> and other </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shareholdings ar<span class="_ _5"/>e widely<span class="_ _5"/> dispersed. <span class="_ _5"/>Theref<span class="_ _5"/>ore,<span class="_ _5"/> the distribution is measur<span class="_ _5"/>ed using the carrying <span class="_ _5"/>value of Svitz<span class="_ _5"/>er’s net<span class="_ _5"/> assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as of the demer<span class="_ _5"/>ger<span class="_ _5"/> date amounting t<span class="_ _5"/>o USD 1.0bn.<span class="_ _5"/> Consequently<span class="_ _5"/>,<span class="_ _5"/> no gain or<span class="_ _5"/> loss on disposal w<span class="_ _5"/>as recognised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>As the demerger<span class="_ _5"/> did not r<span class="_ _5"/>esult in<span class="_ _5"/> any gain or<span class="_ _5"/> loss on disposal,<span class="_ _5"/> Management<span class="_ _5"/> has selected the accoun<span class="_ _5"/>ting policy of <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erring the cumulative <span class="_ _5"/>translation<span class="_ _5"/> reserve within<span class="_ _5"/> equity<span class="_ _5"/>. <span class="_ _5"/>The cumulative <span class="_ _5"/>translation r<span class="_ _5"/>eserve of USD 22<span class="_ _5"/>4m relat<span class="_ _5"/>ed <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to Svitz<span class="_ _5"/>er as o<span class="_ _5"/>f the demerger<span class="_ _5"/> dat<span class="_ _5"/>e was r<span class="_ _5"/>eclassified within equity <span class="_ _5"/>to retained earnings<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _5"/> sale<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _5"/>ent asset,<span class="_ _5"/> or<span class="_ _5"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _5"/>, is r<span class="_ _5"/>ecovered principal<span class="_ _5"/>ly <span class="_ _5"/>through a sales<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> rather<span class="_ _5"/> than<span class="_ _5"/> through<span class="_ _5"/> continued use.<span class="_ _5"/> Assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _5"/>or sale <span class="_ _5"/>when activities to carry<span class="_ _5"/> out </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _5"/>ted, <span class="_ _5"/>when the activities ar<span class="_ _5"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _5"/> immediate sale in <span class="_ _5"/>their<span class="_ _5"/> present c<span class="_ _5"/>ondition, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _5"/>e expected <span class="_ _5"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _5"/> Liabilities directly<span class="_ _5"/> associated with<span class="_ _5"/> assets held </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> sale are pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> from other<span class="_ _5"/> liabilities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Assets held for sale ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount immediat<span class="_ _5"/>ely bef<span class="_ _5"/>ore classification as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale and fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. Impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tests are perf<span class="_ _5"/>ormed immediately<span class="_ _5"/> before classifica<span class="_ _5"/>tion as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale.<span class="_ _5"/> Non-current<span class="_ _5"/> assets are not depr<span class="_ _5"/>eciated or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised while classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> Measurement<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of deferr<span class="_ _5"/>ed tax and financial assets and liabilities is un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changed.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset<span class="_ _5"/> or a disposal gr<span class="_ _5"/>oup has been classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale or<span class="_ _5"/> distribution, but<span class="_ _5"/> the requir<span class="_ _5"/>ements are no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">longer<span class="_ _5"/> met, <span class="_ _5"/>the assets and relat<span class="_ _5"/>ed liabilities ceases to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The cessa<span class="_ _5"/>tion of the classifi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cation as held for<span class="_ _5"/> sale wil<span class="_ _5"/>l be reflected in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _5"/>f circumstances has occurr<span class="_ _5"/>ed. Com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _5"/>tive figures ar<span class="_ _5"/>e not resta<span class="_ _5"/>ted, and an<span class="_ _5"/>y adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _5"/>value of assets and liabilities pr<span class="_ _5"/>eviously<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _5"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _5"/> sale<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _5"/>ent asset,<span class="_ _5"/> or<span class="_ _5"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _5"/>, is r<span class="_ _5"/>ecovered principal<span class="_ _5"/>ly <span class="_ _5"/>through a sales<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> rather<span class="_ _5"/> than<span class="_ _5"/> through<span class="_ _5"/> continued use.<span class="_ _5"/> Assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _5"/>or sale <span class="_ _5"/>when activities to carry<span class="_ _5"/> out </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _5"/>ted, <span class="_ _5"/>when the activities ar<span class="_ _5"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _5"/> immediate sale in <span class="_ _5"/>their<span class="_ _5"/> present c<span class="_ _5"/>ondition, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _5"/>e expected <span class="_ _5"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _5"/> Liabilities directly<span class="_ _5"/> associated with<span class="_ _5"/> assets held </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> sale are pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> from other<span class="_ _5"/> liabilities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Assets held for sale ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount immediat<span class="_ _5"/>ely bef<span class="_ _5"/>ore classification as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale and fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. Impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tests are perf<span class="_ _5"/>ormed immediately<span class="_ _5"/> before classifica<span class="_ _5"/>tion as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale.<span class="_ _5"/> Non-current<span class="_ _5"/> assets are not depr<span class="_ _5"/>eciated or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised while classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> Measurement<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of deferr<span class="_ _5"/>ed tax and financial assets and liabilities is un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changed.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset<span class="_ _5"/> or a disposal gr<span class="_ _5"/>oup has been classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale or<span class="_ _5"/> distribution, but<span class="_ _5"/> the requir<span class="_ _5"/>ements are no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">longer<span class="_ _5"/> met, <span class="_ _5"/>the assets and relat<span class="_ _5"/>ed liabilities ceases to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The cessa<span class="_ _5"/>tion of the classifi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cation as held for<span class="_ _5"/> sale wil<span class="_ _5"/>l be reflected in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _5"/>f circumstances has occurr<span class="_ _5"/>ed. Com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _5"/>tive figures ar<span class="_ _5"/>e not resta<span class="_ _5"/>ted, and an<span class="_ _5"/>y adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _5"/>value of assets and liabilities pr<span class="_ _5"/>eviously<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _5"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _5"/> sale<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _5"/>ent asset,<span class="_ _5"/> or<span class="_ _5"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _5"/>, is r<span class="_ _5"/>ecovered principal<span class="_ _5"/>ly <span class="_ _5"/>through a sales<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> rather<span class="_ _5"/> than<span class="_ _5"/> through<span class="_ _5"/> continued use.<span class="_ _5"/> Assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _5"/>or sale <span class="_ _5"/>when activities to carry<span class="_ _5"/> out </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _5"/>ted, <span class="_ _5"/>when the activities ar<span class="_ _5"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _5"/> immediate sale in <span class="_ _5"/>their<span class="_ _5"/> present c<span class="_ _5"/>ondition, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _5"/>e expected <span class="_ _5"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _5"/> Liabilities directly<span class="_ _5"/> associated with<span class="_ _5"/> assets held </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> sale are pr<span class="_ _5"/>esented separ<span class="_ _5"/>ately<span class="_ _5"/> from other<span class="_ _5"/> liabilities.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Assets held for sale ar<span class="_ _5"/>e measured at<span class="_ _5"/> the lower<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount immediat<span class="_ _5"/>ely bef<span class="_ _5"/>ore classification as<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale and fair<span class="_ _5"/> v<span class="_ _5"/>alue less costs to sel<span class="_ _5"/>l. Impairment<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tests are perf<span class="_ _5"/>ormed immediately<span class="_ _5"/> before classifica<span class="_ _5"/>tion as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale.<span class="_ _5"/> Non-current<span class="_ _5"/> assets are not depr<span class="_ _5"/>eciated or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortised while classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> Measurement<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of deferr<span class="_ _5"/>ed tax and financial assets and liabilities is un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changed.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When an asset<span class="_ _5"/> or a disposal gr<span class="_ _5"/>oup has been classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">held for<span class="_ _5"/> sale or<span class="_ _5"/> distribution, but<span class="_ _5"/> the requir<span class="_ _5"/>ements are no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">longer<span class="_ _5"/> met, <span class="_ _5"/>the assets and relat<span class="_ _5"/>ed liabilities ceases to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale.<span class="_ _5"/> The cessa<span class="_ _5"/>tion of the classifi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cation as held for<span class="_ _5"/> sale wil<span class="_ _5"/>l be reflected in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _5"/>f circumstances has occurr<span class="_ _5"/>ed. Com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _5"/>tive figures ar<span class="_ _5"/>e not resta<span class="_ _5"/>ted, and an<span class="_ _5"/>y adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _5"/>value of assets and liabilities pr<span class="_ _5"/>eviously<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _5"/> sale are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _5"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>7 <span class="_ _215"> </span>Pr<span class="_ _5"/>ovisions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:222.96875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 275.125px; top: 0.0136718px; width: 141.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Restructuring</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8496px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Legal dis-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.803px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 366.156px; top: 12.0137px; width: 50.4668px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">putes, etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 569.549px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">126</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,176</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">407</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,709</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> made</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.873px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">422</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">256</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">735</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount used</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">251</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">442</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eversed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.129px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">60</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">268</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.828px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,148</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">488</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,702</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.66px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">658</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">277</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">946</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 170.701px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.301px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">490</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">211</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">756</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 200.482px; width: 171.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> provisions expect</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.482px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">be realised after</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> mor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e than five </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">years</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restructuring includes pro<span class="_ _5"/>visions for<span class="_ _5"/> decided and publicly announced r<span class="_ _5"/>estructurings and includes mainly<span class="_ _5"/> staff redundancy </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs.<span class="_ _5"/> Legal disputes<span class="_ _5"/>, etc.<span class="_ _5"/> include,<span class="_ _5"/> among other<span class="_ _5"/> things,<span class="_ _5"/> indirect<span class="_ _5"/> tax and duty disput<span class="_ _5"/>es. Other<span class="_ _5"/> primaril<span class="_ _5"/>y includes pro<span class="_ _5"/>visions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> warr<span class="_ _5"/>anties and oner<span class="_ _5"/>ous contracts<span class="_ _5"/>. Rev<span class="_ _5"/>ersals of provisions primaril<span class="_ _5"/>y relat<span class="_ _5"/>e to le<span class="_ _5"/>gal disputes and contr<span class="_ _5"/>actual disagree-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which ar<span class="_ _5"/>e recognised in <span class="_ _5"/>the income statement<span class="_ _5"/> under<span class="_ _5"/> operating costs and <span class="_ _5"/>tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions for<span class="_ _5"/> leg<span class="_ _5"/>al disputes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management’<span class="_ _5"/>s estimate of <span class="_ _5"/>the provisions for<span class="_ _5"/> leg<span class="_ _5"/>al dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">putes,<span class="_ _5"/> including disputes re<span class="_ _5"/>garding <span class="_ _5"/>taxes and duties,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the knowledg<span class="_ _5"/>e available on <span class="_ _5"/>the substance of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cases and a legal assessmen<span class="_ _5"/>t of these<span class="_ _5"/>. <span class="_ _5"/>The resolution </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of legal disputes <span class="_ _5"/>through either<span class="_ _5"/> neg<span class="_ _5"/>otiations or litig<span class="_ _5"/>ation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">can tak<span class="_ _5"/>e sever<span class="_ _5"/>al years <span class="_ _5"/>to be reached and <span class="_ _5"/>the outcomes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _5"/> to consider<span class="_ _5"/>able uncertainty<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when Maersk has a present<span class="_ _5"/> legal </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> constructive obligation fr<span class="_ _5"/>om past ev<span class="_ _5"/>ents. <span class="_ _5"/>The item<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes,<span class="_ _5"/> among other <span class="_ _5"/>things,<span class="_ _5"/> legal disputes and pr<span class="_ _5"/>ovi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sions for<span class="_ _5"/> onerous contr<span class="_ _5"/>acts and unfa<span class="_ _5"/>vourable con<span class="_ _5"/>tracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired as part<span class="_ _5"/> of a business combination.<span class="_ _5"/> Provisions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on best estimates and ar<span class="_ _5"/>e discounted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where the time element is significant and where the time </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of settlement is r<span class="_ _5"/>easonably det<span class="_ _5"/>erminable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.4 <span class="_ _2"> </span>Contingent liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _5"/> liabilities consist of legal cases<span class="_ _5"/>, <span class="_ _5"/>tax issues,<span class="_ _5"/> custom bonds,<span class="_ _5"/> volume commitments and other<span class="_ _5"/> disputes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Legal</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is inv<span class="_ _5"/>olved in sever<span class="_ _5"/>al leg<span class="_ _5"/>al cases and other disput<span class="_ _5"/>es. Some of <span class="_ _5"/>these involv<span class="_ _5"/>e significant amounts and ar<span class="_ _5"/>e subject </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to consider<span class="_ _5"/>able uncertainty<span class="_ _5"/>.<span class="_ _5"/> Management continuousl<span class="_ _5"/>y assesses <span class="_ _5"/>the risks associated with <span class="_ _5"/>the cases and disputes,<span class="_ _5"/> and their<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">likel<span class="_ _5"/>y outcome.<span class="_ _5"/> It is <span class="_ _5"/>the opinion of Management<span class="_ _5"/> that,<span class="_ _5"/> apart fr<span class="_ _5"/>om items rec<span class="_ _5"/>ognised in the financial stat<span class="_ _5"/>ements,<span class="_ _5"/> the outcome </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of these cases and disputes ar<span class="_ _5"/>e not pr<span class="_ _5"/>obable or<span class="_ _5"/> cannot be reliabl<span class="_ _5"/>y estimated in<span class="_ _5"/> terms of amount<span class="_ _5"/> or <span class="_ _5"/>timing. <span class="_ _5"/>The Gr<span class="_ _5"/>oup does </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">not expect<span class="_ _5"/> these <span class="_ _5"/>to have a mat<span class="_ _5"/>erial impact on the c<span class="_ _5"/>onsolidated financial statements<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _10"/>x</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is subject<span class="_ _5"/> to a <span class="_ _5"/>tax audit in Germany<span class="_ _5"/> concerning allocation<span class="_ _5"/> of taxation rights <span class="_ _5"/>to shipping income between Denmark </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Germany as <span class="_ _5"/>well as t<span class="_ _5"/>o a tax investig<span class="_ _5"/>ation in India concerning a deemed suppl<span class="_ _5"/>y of services between Indian<span class="_ _5"/> GST<span class="_ _5"/> regis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tra<span class="_ _5"/>tions of Maersk in India. <span class="_ _5"/>The Group is also in<span class="_ _5"/>volved in <span class="_ _5"/>various other<span class="_ _5"/> tax disputes including indir<span class="_ _5"/>ect <span class="_ _5"/>tax disputes,<span class="_ _5"/> some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of which inv<span class="_ _5"/>olve significant amoun<span class="_ _5"/>ts. Manag<span class="_ _5"/>ement continuousl<span class="_ _5"/>y assesses the risk<span class="_ _5"/>s associated with <span class="_ _5"/>tax disputes and their<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">likel<span class="_ _5"/>y outcome and considers <span class="_ _5"/>the risk related <span class="_ _5"/>to these disput<span class="_ _5"/>es remote and <span class="_ _5"/>therefor<span class="_ _5"/>e does not expect<span class="_ _5"/> these <span class="_ _5"/>to have a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">material impact<span class="_ _5"/> on the consolidated financial sta<span class="_ _5"/>tements.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Through participation in a joint<span class="_ _5"/> taxation scheme <span class="_ _5"/>with A<span class="_ _5"/>.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> the Danish<span class="_ _5"/> companies are jointl<span class="_ _5"/>y and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">severally liable for<span class="_ _5"/> taxes pay<span class="_ _5"/>able,<span class="_ _5"/> etc., in<span class="_ _5"/> Denmark. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Custom bonds of USD 85<span class="_ _5"/>7m<span class="_ _5"/> (USD 830m) have been pr<span class="_ _5"/>ovided to <span class="_ _5"/>various port<span class="_ _5"/> authorities in India.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Maersk Line and APM T<span class="_ _0"/>erminals have enter<span class="_ _5"/>ed into a number<span class="_ _5"/> of agr<span class="_ _5"/>eements with t<span class="_ _5"/>erminals and port authorities,<span class="_ _5"/> etc.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising volume commitmen<span class="_ _5"/>ts, including an<span class="_ _5"/> extra pa<span class="_ _5"/>yment in case minimum <span class="_ _5"/>volumes are not<span class="_ _5"/> met.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Except for<span class="_ _5"/> customary agr<span class="_ _5"/>eements within <span class="_ _5"/>the Group’<span class="_ _5"/>s activities,<span class="_ _5"/> no material agreemen<span class="_ _5"/>ts have been enter<span class="_ _5"/>ed into <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will take effect,<span class="_ _5"/> change,<span class="_ _5"/> or<span class="_ _5"/> expire upon changes o<span class="_ _5"/>f the contr<span class="_ _5"/>ol over<span class="_ _5"/> the company<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 3.<span class="_ _5"/>7 <span class="_ _215"> </span>Pr<span class="_ _5"/>ovisions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:222.96875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 275.125px; top: 0.0136718px; width: 141.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Restructuring</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8496px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Legal dis-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.803px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.0957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 366.156px; top: 12.0137px; width: 50.4668px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">putes, etc.</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 569.549px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">126</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,176</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">407</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,709</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> made</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.873px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">57</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">422</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">256</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">735</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount used</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">251</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">442</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eversed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.129px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">60</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">268</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.828px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,148</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">488</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,702</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.66px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">658</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">277</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">946</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 170.701px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.301px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">490</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">211</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">756</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 200.482px; width: 171.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> provisions expect</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.482px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">be realised after</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> mor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e than five </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">years</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.424px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">71</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restructuring includes pro<span class="_ _5"/>visions for<span class="_ _5"/> decided and publicly announced r<span class="_ _5"/>estructurings and includes mainly<span class="_ _5"/> staff redundancy </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs.<span class="_ _5"/> Legal disputes<span class="_ _5"/>, etc.<span class="_ _5"/> include,<span class="_ _5"/> among other<span class="_ _5"/> things,<span class="_ _5"/> indirect<span class="_ _5"/> tax and duty disput<span class="_ _5"/>es. Other<span class="_ _5"/> primaril<span class="_ _5"/>y includes pro<span class="_ _5"/>visions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> warr<span class="_ _5"/>anties and oner<span class="_ _5"/>ous contracts<span class="_ _5"/>. Rev<span class="_ _5"/>ersals of provisions primaril<span class="_ _5"/>y relat<span class="_ _5"/>e to le<span class="_ _5"/>gal disputes and contr<span class="_ _5"/>actual disagree-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which ar<span class="_ _5"/>e recognised in <span class="_ _5"/>the income statement<span class="_ _5"/> under<span class="_ _5"/> operating costs and <span class="_ _5"/>tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions for<span class="_ _5"/> leg<span class="_ _5"/>al disputes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management’<span class="_ _5"/>s estimate of <span class="_ _5"/>the provisions for<span class="_ _5"/> leg<span class="_ _5"/>al dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">putes,<span class="_ _5"/> including disputes re<span class="_ _5"/>garding <span class="_ _5"/>taxes and duties,<span class="_ _5"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the knowledg<span class="_ _5"/>e available on <span class="_ _5"/>the substance of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cases and a legal assessmen<span class="_ _5"/>t of these<span class="_ _5"/>. <span class="_ _5"/>The resolution </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of legal disputes <span class="_ _5"/>through either<span class="_ _5"/> neg<span class="_ _5"/>otiations or litig<span class="_ _5"/>ation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">can tak<span class="_ _5"/>e sever<span class="_ _5"/>al years <span class="_ _5"/>to be reached and <span class="_ _5"/>the outcomes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _5"/> to consider<span class="_ _5"/>able uncertainty<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when Maersk has a present<span class="_ _5"/> legal </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> constructive obligation fr<span class="_ _5"/>om past ev<span class="_ _5"/>ents. <span class="_ _5"/>The item<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes,<span class="_ _5"/> among other <span class="_ _5"/>things,<span class="_ _5"/> legal disputes and pr<span class="_ _5"/>ovi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sions for<span class="_ _5"/> onerous contr<span class="_ _5"/>acts and unfa<span class="_ _5"/>vourable con<span class="_ _5"/>tracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired as part<span class="_ _5"/> of a business combination.<span class="_ _5"/> Provisions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on best estimates and ar<span class="_ _5"/>e discounted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where the time element is significant and where the time </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of settlement is r<span class="_ _5"/>easonably det<span class="_ _5"/>erminable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _5"/>e recognised <span class="_ _5"/>when Maersk has a present<span class="_ _5"/> legal </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> constructive obligation fr<span class="_ _5"/>om past ev<span class="_ _5"/>ents. <span class="_ _5"/>The item<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes,<span class="_ _5"/> among other <span class="_ _5"/>things,<span class="_ _5"/> legal disputes and pr<span class="_ _5"/>ovi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sions for<span class="_ _5"/> onerous contr<span class="_ _5"/>acts and unfa<span class="_ _5"/>vourable con<span class="_ _5"/>tracts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired as part<span class="_ _5"/> of a business combination.<span class="_ _5"/> Provisions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised based on best estimates and ar<span class="_ _5"/>e discounted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where the time element is significant and where the time </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of settlement is r<span class="_ _5"/>easonably det<span class="_ _5"/>erminable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.<span class="_ _5"/>1 <span class="_"> </span>Shar<span class="_ _5"/>e capital and earnings per shar<span class="_ _5"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:191.359375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.9141px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Development</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> in the </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 537.475px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">number</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of shares:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.5469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">A shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">B shares of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.869px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal value</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 147px; top: 36.6855px; width: 423.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK 1,000</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK 500</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK 1,000</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK 500</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.2558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK million</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.2558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.3574px; width: 569.736px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,334,329</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">214</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,372,645</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18,707</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,392</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.248px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Conversions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.1387px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">910,056</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,137</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 106.42px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,106,940</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">212</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,462,590</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,570</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,186</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 136.201px; width: 569.736px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,106,940</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">212</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,462,590</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,570</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,186</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 151.092px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Conversions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 165.982px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">350,555</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,390,218</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,741</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 180.873px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,756,388</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,072,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,829</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,870</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">All shar<span class="_ _5"/>es are full<span class="_ _5"/>y issued and paid up.<span class="_ _5"/> One A<span class="_ _5"/> share o<span class="_ _5"/>f DKK 1,000 holds two <span class="_ _5"/>votes.<span class="_ _5"/> B shares hav<span class="_ _5"/>e no voting rights.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the <span class="_ _5"/>Annual General Meeting of <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S on 14 March<span class="_ _5"/> 2024,<span class="_ _5"/> the shar<span class="_ _5"/>eholders decided on the cancel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lation of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es whereb<span class="_ _5"/>y the shar<span class="_ _5"/>e capital would be decr<span class="_ _5"/>eased from nominall<span class="_ _5"/>y DKK 17<span class="_ _0"/>,569,<span class="_ _5"/>715<span class="_ _5"/>,000 to nominal<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">DKK 15,828<span class="_ _5"/>,<span class="_ _5"/>942,000.<span class="_ _5"/> The canc<span class="_ _5"/>ellation w<span class="_ _5"/>as completed during Q2 2024.<span class="_ _5"/> <span class="_ _5"/>The reduction in <span class="_ _5"/>the share capital has been r<span class="_ _5"/>ecorded </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by appl<span class="_ _5"/>ying the historical r<span class="_ _5"/>ate of ex<span class="_ _5"/>change of USD/DKK 5.5153<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:235.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.9141px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Development</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> in the </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 545.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">holding of tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">easury shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.2402px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> No. of shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es of DKK 1,000</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.2558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> Nominal value DKK mil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">lion</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">% of share capital</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">reasury</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> shares</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.373px; width: 37.6582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A shares</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.2637px; width: 569.742px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">306,636</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">201,717</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">202</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.75%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.08%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.1543px; width: 569.648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,919</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">332,309</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.25%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.89%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 106.029px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">350,555</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">351</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.00%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.22%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.92px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">306,636</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.75%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.717px; width: 37.5703px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">B shares</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 165.607px; width: 569.789px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,279,120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">887,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">888</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.28%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.74%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 180.498px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">244,723</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,327,842</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">245</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,328</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.47%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.54%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.373px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,390,218</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">910,056</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">910</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.91%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.86%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 210.264px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,318</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.08%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.14%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 225.154px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120,307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,279,120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.76%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.28%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The disposal of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es is related <span class="_ _5"/>to the shar<span class="_ _5"/>e option plan and the r<span class="_ _5"/>estricted shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 1 <span class="_ _5"/>January 202<span class="_ _5"/>4 to 7<span class="_ _5"/> February 202<span class="_ _5"/>4,<span class="_ _5"/> A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S bought back 22,599 <span class="_ _5"/>A<span class="_ _5"/> shares with a<span class="_ _5"/> nomin<span class="_ _8"/>al value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">DKK 23m and 68<span class="_ _5"/>,<span class="_ _5"/>181 B shar<span class="_ _5"/>es with a nominal <span class="_ _5"/>value of DKK 68m fr<span class="_ _5"/>om <span class="_ _5"/>A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler<span class="_ _5"/> Holdin<span class="_ _5"/>g A/<span class="_ _5"/>S as we<span class="_ _5"/>ll as 2<span class="_ _5"/>1,481 B s<span class="_ _5"/>hares<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a nominal v<span class="_ _5"/>alue of DKK 21m from<span class="_ _5"/> A.P<span class="_ _9"/>. Møller<span class="_ _5"/> o<span class="_ _5"/>g Hustru Chastine Mc<span class="_ _5"/>-Kinney Møl<span class="_ _5"/>lers Familief<span class="_ _5"/>ond, which<span class="_ _5"/> are conside<span class="_ _8"/>red </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed parties. <span class="_ _5"/>The share buy<span class="_ _5"/>-back pr<span class="_ _5"/>ogramme is carried out<span class="_ _5"/> with <span class="_ _5"/>the purpose to adjust<span class="_ _5"/> the capital structure of <span class="_ _5"/>the com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pany<span class="_ _5"/>.<span class="_ _5"/> Cancellation<span class="_ _5"/> of shares which ar<span class="_ _5"/>e not used for<span class="_ _5"/> hedging purposes for<span class="_ _5"/> <span class="_ _5"/>the long-term<span class="_ _5"/> incentive pro<span class="_ _5"/>gramme is pr<span class="_ _5"/>oposed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the Annual Gener<span class="_ _5"/>al Meeting.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3"> includes total compr<span class="_ _5"/>ehensive income for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _5"/>ofit for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> and other<span class="_ _5"/> comprehen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _5"/> Proceeds on <span class="_ _5"/>the purchase and sale of <span class="_ _5"/>treas-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ury shar<span class="_ _5"/>es and dividend from such shar<span class="_ _5"/>es are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _5"/>.<span class="_ _5"/> The <span class="_ _5"/>translation<span class="_ _5"/> reserve is comprised of Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _5"/>ed exchange r<span class="_ _5"/>ate differ<span class="_ _5"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _5"/>anslation fr<span class="_ _5"/>om functional currency<span class="_ _5"/> into presen<span class="_ _5"/>tation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The reserve for<span class="_ _5"/> other<span class="_ _5"/> equity in<span class="_ _5"/>vestments is com<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _5"/> FVOCI),<span class="_ _5"/> net of <span class="_ _5"/>tax. Reserves f<span class="_ _5"/>or hedg<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the accumulat<span class="_ _5"/>ed fair<span class="_ _5"/> value chang<span class="_ _5"/>e of derivatives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> cash flow hedge accounting,<span class="_ _5"/> less amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _5"/> reclassified <span class="_ _5"/>to the income statemen<span class="_ _5"/>t or<span class="_ _5"/> tr<span class="_ _5"/>ans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferred as basis adjustmen<span class="_ _5"/>ts, net<span class="_ _5"/> of tax,<span class="_ _5"/> as well as f<span class="_ _5"/>orward </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _5"/> basis spread.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.<span class="_ _5"/>1 <span class="_"> </span>Shar<span class="_ _5"/>e capital and earnings per shar<span class="_ _5"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:191.359375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.9141px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Development</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> in the </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 537.475px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">number</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of shares:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.5469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">A shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">B shares of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.869px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal value</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 147px; top: 36.6855px; width: 423.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK 1,000</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK 500</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK 1,000</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK 500</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.2558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK million</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.2558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.3574px; width: 569.736px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,334,329</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">214</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,372,645</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18,707</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,392</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.248px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Conversions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.1387px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">910,056</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,137</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 106.42px; width: 569.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,106,940</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">212</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,462,590</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,570</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,186</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 136.201px; width: 569.736px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">10,106,940</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">212</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,462,590</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">158</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,570</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,186</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 151.092px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Conversions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 165.982px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">350,555</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,390,218</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,741</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">316</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 180.873px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,756,388</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,072,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,829</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,870</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">All shar<span class="_ _5"/>es are full<span class="_ _5"/>y issued and paid up.<span class="_ _5"/> One A<span class="_ _5"/> share o<span class="_ _5"/>f DKK 1,000 holds two <span class="_ _5"/>votes.<span class="_ _5"/> B shares hav<span class="_ _5"/>e no voting rights.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the <span class="_ _5"/>Annual General Meeting of <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S on 14 March<span class="_ _5"/> 2024,<span class="_ _5"/> the shar<span class="_ _5"/>eholders decided on the cancel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lation of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es whereb<span class="_ _5"/>y the shar<span class="_ _5"/>e capital would be decr<span class="_ _5"/>eased from nominall<span class="_ _5"/>y DKK 17<span class="_ _0"/>,569,<span class="_ _5"/>715<span class="_ _5"/>,000 to nominal<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">DKK 15,828<span class="_ _5"/>,<span class="_ _5"/>942,000.<span class="_ _5"/> The canc<span class="_ _5"/>ellation w<span class="_ _5"/>as completed during Q2 2024.<span class="_ _5"/> <span class="_ _5"/>The reduction in <span class="_ _5"/>the share capital has been r<span class="_ _5"/>ecorded </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by appl<span class="_ _5"/>ying the historical r<span class="_ _5"/>ate of ex<span class="_ _5"/>change of USD/DKK 5.5153<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:235.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.9141px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Development</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> in the </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 545.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">holding of tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">easury shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.2402px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> No. of shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es of DKK 1,000</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.2558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> Nominal value DKK mil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">lion</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">% of share capital</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">reasury</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> shares</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.373px; width: 37.6582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A shares</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.2637px; width: 569.742px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">306,636</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">201,717</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">202</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.75%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.08%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.1543px; width: 569.648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43,919</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">332,309</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">332</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.25%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.89%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 106.029px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">350,555</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">351</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.00%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.22%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.92px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">306,636</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.75%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.717px; width: 37.5703px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">B shares</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 165.607px; width: 569.789px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.6502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,279,120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">887,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">888</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.28%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.74%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 180.498px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">244,723</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,327,842</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">245</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,328</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1.47%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.54%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.373px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancellations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,390,218</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">910,056</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">910</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.91%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.86%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 210.264px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,318</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.6114px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.08%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.14%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 225.154px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120,307</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,279,120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.4102px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0.76%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.28%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The disposal of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es is related <span class="_ _5"/>to the shar<span class="_ _5"/>e option plan and the r<span class="_ _5"/>estricted shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 1 <span class="_ _5"/>January 202<span class="_ _5"/>4 to 7<span class="_ _5"/> February 202<span class="_ _5"/>4,<span class="_ _5"/> A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S bought back 22,599 <span class="_ _5"/>A<span class="_ _5"/> shares with a<span class="_ _5"/> nomin<span class="_ _8"/>al value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">DKK 23m and 68<span class="_ _5"/>,<span class="_ _5"/>181 B shar<span class="_ _5"/>es with a nominal <span class="_ _5"/>value of DKK 68m fr<span class="_ _5"/>om <span class="_ _5"/>A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler<span class="_ _5"/> Holdin<span class="_ _5"/>g A/<span class="_ _5"/>S as we<span class="_ _5"/>ll as 2<span class="_ _5"/>1,481 B s<span class="_ _5"/>hares<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a nominal v<span class="_ _5"/>alue of DKK 21m from<span class="_ _5"/> A.P<span class="_ _9"/>. Møller<span class="_ _5"/> o<span class="_ _5"/>g Hustru Chastine Mc<span class="_ _5"/>-Kinney Møl<span class="_ _5"/>lers Familief<span class="_ _5"/>ond, which<span class="_ _5"/> are conside<span class="_ _8"/>red </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed parties. <span class="_ _5"/>The share buy<span class="_ _5"/>-back pr<span class="_ _5"/>ogramme is carried out<span class="_ _5"/> with <span class="_ _5"/>the purpose to adjust<span class="_ _5"/> the capital structure of <span class="_ _5"/>the com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pany<span class="_ _5"/>.<span class="_ _5"/> Cancellation<span class="_ _5"/> of shares which ar<span class="_ _5"/>e not used for<span class="_ _5"/> hedging purposes for<span class="_ _5"/> <span class="_ _5"/>the long-term<span class="_ _5"/> incentive pro<span class="_ _5"/>gramme is pr<span class="_ _5"/>oposed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the Annual Gener<span class="_ _5"/>al Meeting.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital management</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The capital structure is managed f<span class="_ _5"/>or <span class="_ _5"/>the Group in acc<span class="_ _5"/>ordance with <span class="_ _5"/>the financial policy<span class="_ _5"/>,<span class="_ _5"/> as approved by<span class="_ _5"/> the Boar<span class="_ _5"/>d of Directors<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital is managed <span class="_ _5"/>to meet <span class="_ _5"/>the objective of a solid capital structure ov<span class="_ _5"/>er <span class="_ _5"/>the business cycle and t<span class="_ _5"/>o maintain a liquidity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profile in line <span class="_ _5"/>with an investment<span class="_ _5"/> grade cr<span class="_ _5"/>edit r<span class="_ _5"/>ating.<span class="_ _5"/> Maersk remains investment<span class="_ _5"/> grade-r<span class="_ _5"/>ated and holds a<span class="_ _5"/> Baa1 (stable) <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>ting from Moody’<span class="_ _5"/>s and a BBB+ (stable) r<span class="_ _5"/>ating from Standar<span class="_ _5"/>d &amp; Poor’<span class="_ _5"/>s.<span class="_ _5"/> The equity<span class="_ _5"/> share of t<span class="_ _5"/>otal equity and liabilities <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was 66.<span class="_ _0"/>1% (67<span class="_ _0"/>.<span class="_ _5"/>1%) at<span class="_ _5"/> the end of 2024<span class="_ _5"/>. Shar<span class="_ _5"/>e buy-backs o<span class="_ _5"/>f maximum 15% of the shar<span class="_ _5"/>e capital can be decided by <span class="_ _5"/>the Board </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of Directors<span class="_ _5"/>, and dividends paid out<span class="_ _5"/> are <span class="_ _5"/>to be between 30-50% of the underl<span class="_ _5"/>ying profit<span class="_ _5"/> in accordance <span class="_ _5"/>with the company’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividend policy<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.5 <span class="_"> </span>Financial instrument<span class="_ _5"/>s and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The gain/losses of the deriv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">atives are r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised as f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ollows:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the cost of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ffective hedging</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ineffectiveness r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.014px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eclassified from equity r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 199.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives accounted for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> as held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> trading:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> -129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es recognised dir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ectly in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil prices and freight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net gains/losses r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">175</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 444.581px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">190</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s derivativ<span class="_ _5"/>es are pr<span class="_ _5"/>esented at f<span class="_ _5"/>air <span class="_ _5"/>value in <span class="_ _5"/>the balance sheet.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s activities expose it<span class="_ _5"/> to a <span class="_ _5"/>variety of financial risk<span class="_ _5"/>s:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Mark<span class="_ _5"/>et risks<span class="_ _5"/>, i.e<span class="_ _5"/>., curr<span class="_ _5"/>ency risk,<span class="_ _5"/> interest<span class="_ _5"/> rat<span class="_ _5"/>e risk and oil price risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Cr<span class="_ _5"/>edit risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Liquidity<span class="_ _5"/> risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s over<span class="_ _5"/>all risk management<span class="_ _5"/> pro<span class="_ _5"/>gramme focuses on<span class="_ _5"/> the unpredictability<span class="_ _5"/> of financial markets and seeks <span class="_ _5"/>to <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mini<span class="_ _8"/>mise the poten<span class="_ _5"/>tial adverse effects on <span class="_ _5"/>the Group’<span class="_ _5"/>s financial performance.<span class="_ _5"/> <span class="_ _5"/>The Group uses derivativ<span class="_ _5"/>e financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments t<span class="_ _5"/>o hedge certain risk exposures<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Risk management is carried out by<span class="_ _5"/> a centr<span class="_ _5"/>al finance department under<span class="_ _5"/> policies appr<span class="_ _5"/>oved by <span class="_ _5"/>the Board of Dir<span class="_ _5"/>ectors.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _8"/>finance department iden<span class="_ _5"/>tifies, e<span class="_ _5"/>valuates and hedges financial risks in<span class="_ _5"/> close cooperation <span class="_ _5"/>with the Gr<span class="_ _5"/>oup’s en<span class="_ _5"/>tities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Market risk is the risk <span class="_ _5"/>that chang<span class="_ _5"/>es in market<span class="_ _5"/> prices, such<span class="_ _5"/> as foreign e<span class="_ _5"/>xchange ra<span class="_ _5"/>tes and inter<span class="_ _5"/>est r<span class="_ _5"/>ates,<span class="_ _5"/> will affect<span class="_ _5"/> the </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _5"/>s profit<span class="_ _5"/> or<span class="_ _5"/> the v<span class="_ _5"/>alue of its holdings of financial instruments.<span class="_ _5"/> <span class="_ _5"/>The sensitivity analyses in <span class="_ _5"/>the currency<span class="_ _5"/> risk and interest<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te risk sections relate <span class="_ _5"/>to the position<span class="_ _5"/> of financial instruments at 31 December<span class="_ _5"/> 202<span class="_ _5"/>4.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The sensitivity analyses for<span class="_ _5"/> currency<span class="_ _5"/> risk and inter<span class="_ _5"/>est r<span class="_ _5"/>ate risk have been pr<span class="_ _5"/>epared on <span class="_ _5"/>the basis that<span class="_ _5"/> the amount<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net debt,<span class="_ _5"/> the r<span class="_ _5"/>atio of fixed <span class="_ _5"/>to floating inter<span class="_ _5"/>est r<span class="_ _5"/>ates of the debt<span class="_ _5"/> and the pr<span class="_ _5"/>oportion of financial instruments in for<span class="_ _5"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies r<span class="_ _5"/>emain unchanged from<span class="_ _5"/> hedge designations in place at<span class="_ _5"/> 31 December 202<span class="_ _5"/>4.<span class="_ _5"/> Furthermore<span class="_ _5"/>, it<span class="_ _5"/> is assumed that <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exchange r<span class="_ _5"/>ate and inter<span class="_ _5"/>est r<span class="_ _5"/>ate sensitivities hav<span class="_ _5"/>e a symmetric impact,<span class="_ _5"/> i.e.<span class="_ _5"/> an increase in r<span class="_ _5"/>ates r<span class="_ _5"/>esults in <span class="_ _5"/>the same absolute </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">movement<span class="_ _5"/> as a decrease in r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The sensitivity analyses show the e<span class="_ _5"/>ffect on pr<span class="_ _5"/>ofit and equity<span class="_ _5"/> of a reasonabl<span class="_ _5"/>y possible change in ex<span class="_ _5"/>change rat<span class="_ _5"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">interest<span class="_ _5"/> rates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Hedges comprise primarily currency<span class="_ _5"/> derivativ<span class="_ _5"/>es and interest<span class="_ _5"/> rat<span class="_ _5"/>e derivatives,<span class="_ _5"/> which ar<span class="_ _5"/>e further<span class="_ _5"/> described in the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">followi<span class="_ _8"/>ng sections.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s currency<span class="_ _5"/> risk relat<span class="_ _5"/>es to <span class="_ _5"/>the fact <span class="_ _5"/>that while income fr<span class="_ _5"/>om Ocean activities is denominat<span class="_ _5"/>ed mainly in USD<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed expenses are incurr<span class="_ _5"/>ed in both USD and a wide r<span class="_ _5"/>ange of other<span class="_ _5"/> currencies such<span class="_ _5"/> as EUR, DKK,<span class="_ _5"/> CNY and BRL.<span class="_ _5"/> <span class="_ _5"/>As the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is in USD,<span class="_ _5"/> this is also <span class="_ _5"/>the primary financing curr<span class="_ _5"/>ency<span class="_ _5"/>. Income and e<span class="_ _5"/>xpenses from other<span class="_ _5"/> activities including <span class="_ _5"/>T<span class="_ _5"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are mainl<span class="_ _5"/>y denominated in local curr<span class="_ _5"/>encies,<span class="_ _5"/> thus reducing <span class="_ _5"/>the Group’<span class="_ _5"/>s exposur<span class="_ _5"/>e to <span class="_ _5"/>these currencies.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The main purpose of hedging the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s currency<span class="_ _5"/> risk is to hedge <span class="_ _5"/>the USD v<span class="_ _5"/>alue of the Gr<span class="_ _5"/>oup’s net<span class="_ _5"/> cash flow and reduce </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fluctuations in the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s profit.<span class="_ _5"/> The Gr<span class="_ _5"/>oup uses v<span class="_ _5"/>arious financial derivatives,<span class="_ _5"/> including forw<span class="_ _5"/>ards,<span class="_ _5"/> option contr<span class="_ _5"/>acts and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cross-curr<span class="_ _5"/>ency swaps<span class="_ _5"/>, <span class="_ _5"/>to hedge these risks<span class="_ _5"/>. <span class="_ _5"/>The ke<span class="_ _5"/>y aspects of the curr<span class="_ _5"/>ency hedging policy<span class="_ _5"/> are:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Net<span class="_ _5"/> cash flows in significant<span class="_ _5"/> currencies other<span class="_ _5"/> than USD<span class="_ _5"/> are hedged using a la<span class="_ _5"/>yered model with a<span class="_ _5"/> 12-month horizon.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Significant<span class="_ _5"/> capital commitments or<span class="_ _5"/> divestments in curr<span class="_ _5"/>encies other <span class="_ _5"/>than USD ar<span class="_ _5"/>e hedged.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _7e"> </span><span class="ws0">Most non-USD debt is hedged,<span class="_ _5"/> however<span class="_ _0"/>, depending on <span class="_ _5"/>the asset-liability<span class="_ _5"/> match and <span class="_ _5"/>the currency<span class="_ _5"/> of the gener<span class="_ _5"/>ated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash flo<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency<span class="_ _5"/> derivatives hedge futur<span class="_ _5"/>e rev<span class="_ _5"/>enue, oper<span class="_ _5"/>ating costs and inv<span class="_ _5"/>estments/<span class="_ _5"/>divestments,<span class="_ _5"/> and are r<span class="_ _5"/>ecognised on an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing basis in the income statement<span class="_ _5"/> and the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>,<span class="_ _5"/> plant and equipment,<span class="_ _5"/> respectivel<span class="_ _5"/>y<span class="_ _5"/>.<span class="_ _5"/> Ther<span class="_ _5"/>e is not any<span class="_ _5"/> proxy<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging for<span class="_ _5"/> the curr<span class="_ _5"/>ency risk hedging,<span class="_ _5"/> and theref<span class="_ _5"/>ore <span class="_ _5"/>the economic relationship between <span class="_ _5"/>the hedged exposure and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedge is high. E<span class="_ _5"/>ffectiveness is assessed using the critical <span class="_ _5"/>terms match<span class="_ _5"/> approach accor<span class="_ _5"/>ding to IFRS 9<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Hedges of future rev<span class="_ _5"/>enue and operating costs matur<span class="_ _5"/>es within a <span class="_ _5"/>year<span class="_ _5"/> (matures within<span class="_ _5"/> a year).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>For<span class="_ _5"/> hedges r<span class="_ _5"/>elated to oper<span class="_ _5"/>ating and inv<span class="_ _5"/>estment cash flows<span class="_ _5"/>, a loss of USD<span class="_ _5"/> 127m in<span class="_ _5"/> 2024 (loss of USD 8m) is r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in <span class="_ _5"/>other compr<span class="_ _5"/>ehensive income,<span class="_ _5"/> and the cash flow hedg<span class="_ _5"/>e reserve amounts <span class="_ _5"/>to a loss of USD 84m<span class="_ _5"/> at 31 December<span class="_ _5"/> (gain of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 43m). For<span class="_ _5"/> hedges where <span class="_ _5"/>the cost of hedging is applied,<span class="_ _5"/> the f<span class="_ _5"/>orward points ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in other<span class="_ _5"/> comprehensive in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come and tr<span class="_ _5"/>ansferr<span class="_ _5"/>ed with the eff<span class="_ _5"/>ective hedge when <span class="_ _5"/>the hedged tr<span class="_ _5"/>ansaction occurs.<span class="_ _5"/> The cost<span class="_ _5"/> of hedging reserve amoun<span class="_ _5"/>ts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 0m (USD<span class="_ _5"/> 0m). <span class="_ _5"/>There w<span class="_ _5"/>as no ineffectiveness in 202<span class="_ _5"/>4 (no ineffectiveness).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Besides the designated cash flow hedges in <span class="_ _5"/>the table,<span class="_ _5"/> the Gr<span class="_ _5"/>oup uses derivatives <span class="_ _5"/>to hedge curr<span class="_ _5"/>ency exposur<span class="_ _5"/>es that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting.<span class="_ _5"/> These deriv<span class="_ _5"/>atives are classified as f<span class="_ _5"/>air <span class="_ _5"/>value <span class="_ _5"/>through pro<span class="_ _5"/>fit or<span class="_ _5"/> loss.<span class="_ _5"/> The av<span class="_ _5"/>erage FX </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedge r<span class="_ _5"/>ates for<span class="_ _5"/> swaps in cash<span class="_ _5"/> flow hedge wer<span class="_ _5"/>e EUR/USD 1.<span class="_ _5"/>13 (1.<span class="_ _0"/>18) and GBP/USD 1.52 (1.52).<span class="_ _5"/> <span class="_ _5"/>The aver<span class="_ _5"/>age FX hedge r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> swaps in combined f<span class="_ _5"/>air <span class="_ _5"/>value hedge <span class="_ _5"/>were EUR/USD 1.<span class="_ _0"/>18 (1.24),<span class="_ _5"/> GBP/USD 1.52 (1.52),<span class="_ _5"/> USD/NOK 8<span class="_ _5"/>.25 (8.25) and USD<span class="_ _5"/>/<span class="_ _5"/>JPY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">119.39 (119<span class="_ _5"/>.39).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue in the balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 381.675px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">137</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">333</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">323</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">225</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">72</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liabilities, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">509</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">247</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:282.578125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 223.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedge of oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating and investment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cash flows </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 266.125px; top: 0.0136718px; width: 50.5078px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue, </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 352.688px; top: 0.0136718px; width: 50.5078px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue, </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 532.125px; top: 0.0136718px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 95.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">in for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign currencies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 290.062px; top: 12.0137px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">asset</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 435.047px; top: 12.0137px; width: 51.9082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 519.5px; top: 12.0137px; width: 50.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 438.562px; top: 24.0137px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">derivative</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.7012px; width: 105.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Main currencies hedged</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.133px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,006</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EUR/USD 1.08</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">247</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/DKK 6.84</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 107.498px; width: 19.166px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 108.248px; width: 261.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">239</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.9512px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> USD/CNY 7.12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 19.125px; top: 123.039px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 18.5332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">BRL</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 123.17px; width: 259.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/BRL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 5.85</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 569.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> currencies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.836px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,362</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">N</span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/A</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 152.951px; width: 399.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 182.732px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 197.623px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,017</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EUR/USD 1.10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.514px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">286</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/DKK 6.76</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 227.404px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">249</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.0391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 7.04</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 19.125px; top: 242.18px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 242.295px; width: 18.5332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">BRL</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 242.311px; width: 261.627px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/BRL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 5.07</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 76.9844px; top: 257.086px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.201px; width: 77.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> currencies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 257.201px; width: 267.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,235</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">N</span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/A</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 272.092px; width: 399.82px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>HKD is replaced b<span class="_ _5"/>y BRL<span class="_ _5"/> as one of the main currencies in<span class="_ _5"/> 2024.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>2023 figures are restated <span class="_ _5"/>to reflect<span class="_ _5"/> replacement<span class="_ _5"/> of HKD by BRL.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 479.438px; top: 0.0136718px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges recognised a</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and loss</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.592px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 452.726px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to an incr<span class="_ _5"/>ease in the USD ex<span class="_ _5"/>change ra<span class="_ _5"/>te of 10% against al<span class="_ _5"/>l other significant<span class="_ _5"/> currencies <span class="_ _5"/>to which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group is exposed is estimat<span class="_ _5"/>ed to hav<span class="_ _5"/>e the fol<span class="_ _5"/>lowing symmetrical impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _5"/>y on the impact<span class="_ _5"/> of financial instruments tha<span class="_ _5"/>t are outstanding a<span class="_ _5"/>t the balance sheet<span class="_ _5"/> date </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _5"/>thus not an expr<span class="_ _5"/>ession of the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s total curr<span class="_ _5"/>ency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 310.609px; top: 0.0136718px; width: 231.938px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Equity befor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sensitivity for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial instruments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-45</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-145</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:654.21875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 81.5039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rate risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 333.609px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 145.969px; top: 49.3574px; width: 19.9277px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 198.484px; top: 49.3574px; width: 19.9277px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 225.391px; top: 49.3574px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 277.016px; top: 49.373px; width: 194.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.6367px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 7.93357px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gain/loss </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.734px; top: 49.373px; width: 45.3984px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gain/loss </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 534.469px; top: 49.3887px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 134.828px; top: 61.3574px; width: 30.9492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 185.422px; top: 61.3574px; width: 30.9492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 229.125px; top: 61.3574px; width: 39.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 457.969px; top: 61.373px; width: 14.3555px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 508.906px; top: 61.373px; width: 14.1504px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">on </span><span style="word-spacing: 0.0735px; letter-spacing: -0.0735px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.391px; top: 61.3887px; width: 31.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 139.031px; top: 73.3574px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">asset</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 180.625px; top: 73.3574px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 255.969px; top: 73.3574px; width: 12.416px; white-space: pre; word-spacing: 0.021px; letter-spacing: -0.021px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of </span><span style="word-spacing: 0.021px; letter-spacing: -0.021px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 435.047px; top: 73.373px; width: 37.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedged </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 482.406px; top: 73.373px; width: 40.3008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedging </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 552.531px; top: 73.3887px; width: 18.4922px; white-space: pre; word-spacing: 0.3255px; letter-spacing: -0.3255px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rat</span><span style="word-spacing: 0.3255px; letter-spacing: -0.3255px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.3574px; width: 103.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate hedging </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 232.062px; top: 85.373px; width: 33.2227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">deriva-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 447.969px; top: 85.373px; width: 21.498px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">item</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 85.373px; width: 31.9336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">instru-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 65.8711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 247.469px; top: 97.373px; width: 17.4727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tive</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 496.094px; top: 97.373px; width: 24.9727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.061px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 136.951px; width: 122.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Combined fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.951px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.842px; width: 572.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">112</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">737</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">392</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">345</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 178.732px; width: 572.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.623px; width: 572.133px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">JPY</span><span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.2%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 208.514px; width: 572.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">NOK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 238.295px; width: 79.8223px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value hedge, </span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 250.295px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 265.186px; width: 571.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">400</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">250</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.8%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 294.982px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flow hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 306.982px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 324.795px; width: 571.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">392</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,306</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 339.686px; width: 572.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 354.576px; width: 571.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.8%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 369.467px; width: 520.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.035px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.3692px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,642</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">337</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,404</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,901</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-93</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 399.248px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 414.139px; width: 122.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Combined fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 426.139px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 441.029px; width: 572.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">503</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">415</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.3%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 455.92px; width: 572.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 470.811px; width: 572.074px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">JPY</span><span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.2%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 485.701px; width: 571.564px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">NOK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">68</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 515.482px; width: 79.8223px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value hedge, </span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 527.482px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 542.373px; width: 571.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">850</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.7%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 572.17px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flow hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 584.17px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 599.061px; width: 571.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">967</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">414</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">553</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 613.951px; width: 571.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 628.842px; width: 571.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 643.732px; width: 520.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,614</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,325</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-119</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has most<span class="_ _5"/> of its debt denominated in<span class="_ _5"/> USD,<span class="_ _5"/> but part of <span class="_ _5"/>the debt (e.g.<span class="_ _5"/> issued bonds) is in other<span class="_ _5"/> currencies such<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EUR, GBP<span class="_ _f"/>, NOK and JP<span class="_ _5"/>Y<span class="_ _0"/>. The Gr<span class="_ _5"/>oup strives t<span class="_ _5"/>o maintain a combination of fixed and floa<span class="_ _5"/>ting interest<span class="_ _5"/> rat<span class="_ _5"/>es on its net debt,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reflecting expecta<span class="_ _5"/>tions and risks. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inter<span class="_ _5"/>est r<span class="_ _5"/>ate risk is managed <span class="_ _5"/>within a rang<span class="_ _5"/>e set for<span class="_ _5"/> the per<span class="_ _5"/>centage of gr<span class="_ _5"/>oss debt carrying fixed int<span class="_ _5"/>erest,<span class="_ _5"/> net of hedging.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The level at<span class="_ _5"/> 31 December 202<span class="_ _5"/>4 is 51% (41%), e<span class="_ _5"/>xcluding IFRS 16 Leases.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A g<span class="_ _5"/>eneral incr<span class="_ _5"/>ease in interest<span class="_ _5"/> r<span class="_ _5"/>ates by 1 per<span class="_ _5"/>centage point<span class="_ _5"/> is estimated,<span class="_ _5"/> all else being equal, <span class="_ _5"/>to affect<span class="_ _5"/> profit<span class="_ _5"/> before <span class="_ _5"/>tax and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity<span class="_ _5"/>,<span class="_ _5"/> excluding tax eff<span class="_ _5"/>ect, positivel<span class="_ _5"/>y by<span class="_ _5"/> approx.<span class="_ _5"/> USD 161m (positivel<span class="_ _5"/>y by<span class="_ _5"/> USD 134m) and positively<span class="_ _5"/> by appr<span class="_ _5"/>ox. USD<span class="_ _5"/> 121m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(positively<span class="_ _5"/> by USD 113m),<span class="_ _5"/> respectiv<span class="_ _5"/>ely<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>This analy<span class="_ _5"/>sis assumes that al<span class="_ _5"/>l other<span class="_ _5"/> variables,<span class="_ _5"/> in particular<span class="_ _5"/> for<span class="_ _5"/>eign currency<span class="_ _5"/> rat<span class="_ _5"/>es, r<span class="_ _5"/>emain constant.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The hedging of <span class="_ _5"/>the interest<span class="_ _5"/> rat<span class="_ _5"/>e risk is done by cr<span class="_ _5"/>oss-currency<span class="_ _5"/> swaps and inter<span class="_ _5"/>est r<span class="_ _5"/>ate swaps<span class="_ _5"/>. <span class="_ _5"/>The hedging is a mix of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair v<span class="_ _5"/>alue hedging, combined fair<span class="_ _5"/> <span class="_ _5"/>value hedging and cash flow hedging.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Combined fair<span class="_ _5"/> <span class="_ _5"/>value hedging is applied when cr<span class="_ _5"/>oss-currency s<span class="_ _5"/>waps are ent<span class="_ _5"/>ered into <span class="_ _5"/>to hedge <span class="_ _5"/>the risk of debt denomi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nated in curr<span class="_ _5"/>encies other <span class="_ _5"/>than USD.<span class="_ _5"/> Each hedg<span class="_ _5"/>e relationship is split<span class="_ _5"/> into a fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge (fixed t<span class="_ _5"/>o floating inter<span class="_ _5"/>est r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">swap), whe<span class="_ _8"/>re value c<span class="_ _8"/>hange<span class="_ _8"/>s from <span class="_ _8"/>market r<span class="_ _5"/>ates ar<span class="_ _5"/>e recognised dir<span class="_ _5"/>ectly<span class="_ _5"/> in profit<span class="_ _5"/> or loss<span class="_ _5"/>, and a cash flo<span class="_ _5"/>w hedge,<span class="_ _5"/> where <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value changes fr<span class="_ _5"/>om the ex<span class="_ _5"/>change rat<span class="_ _5"/>e exposure of <span class="_ _5"/>the credit mar<span class="_ _5"/>gin are r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>ehensive income.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Ineffectiveness from cash flow hedg<span class="_ _5"/>es due to buy<span class="_ _5"/>-back of issued bonds is reco<span class="_ _5"/>gnised in the income stat<span class="_ _5"/>ement with<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a cost of USD<span class="_ _5"/> 0m (USD 1m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The hedges ar<span class="_ _5"/>e expected t<span class="_ _5"/>o be highly eff<span class="_ _5"/>ective due to <span class="_ _5"/>the nature of <span class="_ _5"/>the economic relationship between<span class="_ _5"/> the exposur<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the hedge<span class="_ _5"/>. <span class="_ _5"/>The source of ineff<span class="_ _5"/>ectiveness is the cr<span class="_ _5"/>edit risk of the hedging instruments<span class="_ _5"/>. For<span class="_ _5"/> hedges <span class="_ _5"/>where the cost<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging is applied, <span class="_ _5"/>the change in basis spread is r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>ehensive income and is a time eff<span class="_ _5"/>ect during the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lifetime of the s<span class="_ _5"/>wap and at maturity<span class="_ _5"/> amounts t<span class="_ _5"/>o 0.<span class="_ _5"/> If the hedged <span class="_ _5"/>transaction is pr<span class="_ _5"/>epaid, <span class="_ _5"/>the change in basis spr<span class="_ _5"/>ead will be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in profit<span class="_ _5"/> or loss as ineff<span class="_ _5"/>ectiveness.<span class="_ _5"/> The cost<span class="_ _5"/> of hedging reserve amounts <span class="_ _5"/>to USD 0m (g<span class="_ _5"/>ain of USD 7<span class="_ _5"/>m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:322.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 224.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings and lease liabilities b</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 0.0136718px; width: 41.6309px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.484px; top: 0.0136718px; width: 111.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Next int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate fixing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 174.539px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">levels inclusive of int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate sw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aps</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 19.6855px; width: 192.381px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.3574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 59.248px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,370</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">544</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">547</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.1387px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,428</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,533</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,762</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 89.0137px; width: 570.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6%-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,679</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,830</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,692</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,157</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.904px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,507</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,466</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 133.701px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.592px; width: 340.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing fixed inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,120</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.482px; width: 339.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing floating inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,357</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.264px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 208.154px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">981</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">252</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">606</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 223.045px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,952</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,830</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,732</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 237.936px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6%-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,881</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,709</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">605</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">567</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.826px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,351</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,905</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 282.607px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 297.498px; width: 340.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing fixed inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,377</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 312.389px; width: 339.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing floating inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,437</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:376.5625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 60px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil price risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 400.266px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 49.3574px; width: 46.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Quantity, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 198.781px; top: 49.3574px; width: 67.418px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e trade </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 49.3574px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 49.3574px; width: 197.83px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3 months</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.9512px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4-12 months</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 61.3574px; width: 46.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">thousand </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 61.3574px; width: 43.2129px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">price per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 61.3574px; width: 39.75px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">dura</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 186.641px; top: 73.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 121.734px; top: 73.3574px; width: 65.4375px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">metric tonnes</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 203.109px; top: 73.3574px; width: 60.6211px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">metric tonne</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 98.0293px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.92px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil swaps</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,221</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.295px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.811px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">456</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.033px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">485</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 172.498px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil futures</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.352px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-284 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.352px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.352px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 187.373px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 26 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">524</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 202.264px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-310 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 217.154px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,505 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 246.951px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 261.842px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil swaps</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,121 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.7127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 276.717px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 12,365 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">480</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-231</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-27</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 291.607px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13,486 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">519</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.404px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil futures</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.352px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-177 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 336.295px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">380</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 351.186px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">639</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 366.076px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,298 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In 2024,<span class="_ _5"/> the quantity<span class="_ _5"/> presentation <span class="_ _5"/>was changed from<span class="_ _5"/> million metric tonnes <span class="_ _5"/>to thousand metric <span class="_ _5"/>tonnes.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The majority of <span class="_ _5"/>the Group’<span class="_ _5"/>s tr<span class="_ _5"/>ading of commodity pr<span class="_ _5"/>oducts is relat<span class="_ _5"/>ed to inv<span class="_ _5"/>entory stocks o<span class="_ _5"/>f crude oil and bunker<span class="_ _5"/> oil, as <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">products ar<span class="_ _5"/>e bought in lar<span class="_ _5"/>ger<span class="_ _5"/> quantities and stored f<span class="_ _5"/>or pr<span class="_ _5"/>ocessing and re-sale<span class="_ _5"/>. <span class="_ _5"/>The oil price risk arising from <span class="_ _5"/>these oil price </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposures is mitig<span class="_ _5"/>ated by en<span class="_ _5"/>tering into commodity<span class="_ _5"/> derivative agr<span class="_ _5"/>eements.<span class="_ _5"/> The over<span class="_ _5"/>all exposur<span class="_ _5"/>e limit is set<span class="_ _5"/> in the Gr<span class="_ _5"/>oup’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">risk policy<span class="_ _5"/>,<span class="_ _5"/> defining a maximum net open position<span class="_ _5"/> for<span class="_ _5"/> the Group<span class="_ _5"/>. On 31 December<span class="_ _5"/> 202<span class="_ _5"/>4,<span class="_ _5"/> the Group ent<span class="_ _5"/>ered into oil deriv<span class="_ _5"/>ative </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">positions as shown in <span class="_ _5"/>the table.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to a 5% change in <span class="_ _5"/>the oil price,<span class="_ _5"/> all else being equal is estimated <span class="_ _5"/>to have a s<span class="_ _5"/>ymmetrical impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with immaterial diff<span class="_ _5"/>erence on pr<span class="_ _5"/>ofit and equity bef<span class="_ _5"/>ore <span class="_ _5"/>tax negativel<span class="_ _5"/>y by<span class="_ _5"/> approx.<span class="_ _5"/> USD 31m (USD 2<span class="_ _5"/>4m) with an incr<span class="_ _5"/>ease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and decrease leading <span class="_ _5"/>to a positive impact<span class="_ _5"/> of the same magnitude.<span class="_ _5"/> The sensitivities ar<span class="_ _5"/>e based on the impact<span class="_ _5"/> of financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instruments that<span class="_ _5"/> are outstanding at<span class="_ _5"/> the balance sheet<span class="_ _5"/> dat<span class="_ _5"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:149.1875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 50.0566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Credit risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity anal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ysis of tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 291.926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Receivables not</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> due</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,331</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Less than 90 da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ys overdue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 339.545px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,330</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,140</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">91 – 365 days over</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">due</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.018px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">292</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.766px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">More than 1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> overdue</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 353.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">127</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Receivables, gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">oss</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.251px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,114</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,585</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.811px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> bad debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">226</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.701px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.123px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The loss allowanc<span class="_ _5"/>e provision f<span class="_ _5"/>or <span class="_ _5"/>trade r<span class="_ _5"/>eceivables as at<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 reconciles <span class="_ _5"/>to the opening los<span class="_ _5"/>s allowance <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:154.296875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ovision for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> bad debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.785px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.426px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 427.575px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">226</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> made</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 401.959px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">363</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">258</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount used</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.947px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">114</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eversed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">205</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">210</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Acquired in business c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ombinations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 324.692px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 98.3887px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposal on the sale of businesses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.567px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.067px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.186px; width: 80.5254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate ad</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 80.4219px; top: 128.92px; width: 67.4648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">justments and</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 147px; top: 128.186px; width: 33.1406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> others</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 482.406px; top: 128.92px; width: 87.0586px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.062px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">226</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _5"/>e to financial and commer<span class="_ _5"/>cial counterparties but<span class="_ _5"/> has no particular c<span class="_ _5"/>oncentration<span class="_ _5"/> of customers or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _5"/> T<span class="_ _0"/>o minimise the credit<span class="_ _5"/> risk, financial <span class="_ _5"/>vetting is undertaken<span class="_ _5"/> for<span class="_ _5"/> all major<span class="_ _5"/> customers and financial institutions,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _5"/> is required f<span class="_ _5"/>or c<span class="_ _5"/>ommercial counterparties<span class="_ _5"/>, and cr<span class="_ _5"/>edit limits are set<span class="_ _5"/> for<span class="_ _5"/> financial institutions and ke<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial counterparties.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _5"/>the simplified approach <span class="_ _5"/>to providing <span class="_ _5"/>the expected cr<span class="_ _5"/>edit losses prescribed b<span class="_ _5"/>y IFRS 9<span class="_ _5"/>, which<span class="_ _5"/> permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _5"/>xpected loss provision<span class="_ _5"/> for<span class="_ _5"/> all tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables.<span class="_ _5"/> T<span class="_ _0"/>o measure the e<span class="_ _5"/>xpected credit<span class="_ _5"/> losses, <span class="_ _5"/>trade<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receiv<span class="_ _5"/>ables have been gr<span class="_ _5"/>ouped based on shared cr<span class="_ _5"/>edit risk char<span class="_ _5"/>acteristics and the days past<span class="_ _5"/> due.<span class="_ _5"/> In accordance <span class="_ _5"/>with IFRS 9,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables have also been consider<span class="_ _5"/>ed for<span class="_ _5"/> impairment. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _5"/>ely 55% (50%) of <span class="_ _5"/>the provision<span class="_ _5"/> for<span class="_ _5"/> bad debt is rela<span class="_ _5"/>ted to <span class="_ _5"/>trade r<span class="_ _5"/>eceivables ov<span class="_ _5"/>erdue by<span class="_ _5"/> more than<span class="_ _5"/> one year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost<span class="_ _5"/> comprise loans receiv<span class="_ _5"/>able, finance lease r<span class="_ _5"/>eceivables and other<span class="_ _5"/> rec<span class="_ _5"/>eivables.<span class="_ _5"/> These </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial assets are consider<span class="_ _5"/>ed to ha<span class="_ _5"/>ve low credit<span class="_ _5"/> risk, and <span class="_ _5"/>thus the impairment<span class="_ _5"/> provision calculat<span class="_ _5"/>ed based on 12 months </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of expected losses is consider<span class="_ _5"/>ed immaterial.<span class="_ _5"/> The financial assets ar<span class="_ _5"/>e considered <span class="_ _5"/>to be low-risk when<span class="_ _5"/> they<span class="_ _5"/> have a low risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of default,<span class="_ _5"/> and the is<span class="_ _5"/>suer has a str<span class="_ _5"/>ong capacity <span class="_ _5"/>to meet its contr<span class="_ _5"/>actual cash flow obliga<span class="_ _5"/>tions in the near<span class="_ _5"/> t<span class="_ _5"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _5"/>y held in r<span class="_ _5"/>elationship banks with a cr<span class="_ _5"/>edit r<span class="_ _5"/>ating of at least<span class="_ _5"/> A<span class="_ _5"/>-. No individual expo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure is abov<span class="_ _5"/>e 10%. Maersk has ISDA<span class="_ _5"/> agreemen<span class="_ _5"/>ts for<span class="_ _5"/> tr<span class="_ _5"/>ading of derivatives,<span class="_ _5"/> under<span class="_ _5"/> which <span class="_ _5"/>the Group has a right<span class="_ _5"/> to net<span class="_ _5"/> settle-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in <span class="_ _5"/>the event<span class="_ _5"/> of certain credit<span class="_ _5"/> events.<span class="_ _5"/> <span class="_ _5"/>This results in<span class="_ _5"/> the credit<span class="_ _5"/> risk being limited t<span class="_ _5"/>o the net position<span class="_ _5"/> per count<span class="_ _5"/>erparty<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:193.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 63.0996px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liquidity risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing debt and liquidity</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> reserve</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.441px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.868px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 340.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-7,373</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4,658</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 569.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Restricted cash</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.132px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-928</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.811px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash management</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> over</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">drafts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 337.465px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.701px; width: 569.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erm deposits not included in cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.857px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,731</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,693</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.592px; width: 569.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 417.979px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 168.482px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Undra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">wn rev</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olving credit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> facilities &gt; 12 months</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,050</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,050</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 81.3438px; top: 183.258px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 458.141px; top: 183.373px; width: 111.967px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">28,976</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,402</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.373px; width: 80.8125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liquidity reserv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Liquidity r<span class="_ _5"/>eserve is defined as undrawn<span class="_ _5"/> committed revol<span class="_ _5"/>ving facilities with mor<span class="_ _5"/>e than one y<span class="_ _5"/>ear <span class="_ _5"/>to expiry<span class="_ _5"/>, securities<span class="_ _5"/>, t<span class="_ _5"/>erm deposits and cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and bank balances,<span class="_ _5"/> net of cash management<span class="_ _5"/> overdr<span class="_ _5"/>aft, ex<span class="_ _5"/>cluding securities, ov<span class="_ _5"/>erdrafts and balances in<span class="_ _5"/> countries with exchange con<span class="_ _5"/>trol or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other r<span class="_ _5"/>estrictions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The 2023 liquidity reserve was r<span class="_ _5"/>estated from<span class="_ _5"/> to include the cash manag<span class="_ _5"/>ement over<span class="_ _5"/>drafts of USD 18m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> information about<span class="_ _5"/> cash and bank balances in countries with e<span class="_ _5"/>xchange control or<span class="_ _5"/> other<span class="_ _5"/> r<span class="_ _5"/>estrictions, r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 5.5 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow specifications<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Based on the liquidity<span class="_ _5"/> reserve<span class="_ _5"/>, loans for<span class="_ _5"/> <span class="_ _5"/>the financing of specific assets, <span class="_ _5"/>the maturity of outstanding loans<span class="_ _5"/>, and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current investmen<span class="_ _5"/>t profile<span class="_ _5"/>, <span class="_ _5"/>the Group’<span class="_ _5"/>s financial resour<span class="_ _5"/>ces are deemed satisf<span class="_ _5"/>actory<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age term<span class="_ _5"/> to maturity<span class="_ _5"/> of loan facilities in <span class="_ _5"/>the Group w<span class="_ _5"/>as about 5 y<span class="_ _5"/>ears (about 5 y<span class="_ _5"/>ears) at 31 December<span class="_ _5"/> 2024<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:449.21875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 225.391px; top: 0.0136718px; width: 41.8359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 357.156px; top: 0.0136718px; width: 135.158px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows including int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 14.9043px; width: 111.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturities of liabilities </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 226.484px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 26.9043px; width: 86.0508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and commitments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 26.9043px; width: 245.285px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 545.051px; top: 26.9043px; width: 24.0645px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.8358px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">235</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">658</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">222</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,115</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,244</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,475</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,189</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,908</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 569.936px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">– of which inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">560</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,496</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.256px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">473</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,893</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,793</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,159</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 126.029px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 570.041px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,687</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,665</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,687</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,862</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,315</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,038</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,214</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">29,567</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 170.701px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">225</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">258</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 185.576px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,540</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,296</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,289</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,125</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 215.373px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.66px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,994</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,507</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">914</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,415</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 230.264px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,534</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,803</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,203</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">38,540</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.045px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 274.936px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.8358px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">259</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">273</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,208</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 289.826px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,811</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,292</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,223</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 304.717px; width: 569.936px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">– of which inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">458</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,078</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,239</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,775</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 319.607px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.256px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">115</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,907</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,127</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 334.498px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 349.389px; width: 570.041px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.963px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,516</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,479</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,516</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 364.279px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,731</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,374</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,418</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,683</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,475</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 379.154px; width: 569.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">72</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">82</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 394.045px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.8457px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,446</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,659</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,765</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26,870</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 423.842px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.66px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,955</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,228</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">683</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,866</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 438.732px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,887</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31,736</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">It is of gr<span class="_ _5"/>eat importance f<span class="_ _5"/>or <span class="_ _5"/>the Group <span class="_ _5"/>to maintain a financial r<span class="_ _5"/>eserve to co<span class="_ _5"/>ver<span class="_ _5"/> the Group’<span class="_ _5"/>s obligations and in<span class="_ _5"/>vestment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opportunities and to pr<span class="_ _5"/>ovide the capital necessary<span class="_ _5"/> to o<span class="_ _5"/>ffset changes in <span class="_ _5"/>the Group’<span class="_ _5"/>s liquidity due <span class="_ _5"/>to changes in <span class="_ _5"/>the cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow <span class="_ _8"/>from oper<span class="_ _5"/>ating activities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The flexibility of <span class="_ _5"/>the financial reserve is subject<span class="_ _5"/> to ong<span class="_ _5"/>oing prioritisation and optimisation, among other<span class="_ _5"/> <span class="_ _5"/>things by<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">focus<span class="_ _8"/>ing on the r<span class="_ _5"/>elease of capital and follo<span class="_ _5"/>wing up on the developmen<span class="_ _5"/>t in working capital.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital management</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The capital structure is managed f<span class="_ _5"/>or <span class="_ _5"/>the Group in acc<span class="_ _5"/>ordance with <span class="_ _5"/>the financial policy<span class="_ _5"/>,<span class="_ _5"/> as approved by<span class="_ _5"/> the Boar<span class="_ _5"/>d of Directors<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital is managed <span class="_ _5"/>to meet <span class="_ _5"/>the objective of a solid capital structure ov<span class="_ _5"/>er <span class="_ _5"/>the business cycle and t<span class="_ _5"/>o maintain a liquidity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profile in line <span class="_ _5"/>with an investment<span class="_ _5"/> grade cr<span class="_ _5"/>edit r<span class="_ _5"/>ating.<span class="_ _5"/> Maersk remains investment<span class="_ _5"/> grade-r<span class="_ _5"/>ated and holds a<span class="_ _5"/> Baa1 (stable) <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>ting from Moody’<span class="_ _5"/>s and a BBB+ (stable) r<span class="_ _5"/>ating from Standar<span class="_ _5"/>d &amp; Poor’<span class="_ _5"/>s.<span class="_ _5"/> The equity<span class="_ _5"/> share of t<span class="_ _5"/>otal equity and liabilities <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was 66.<span class="_ _0"/>1% (67<span class="_ _0"/>.<span class="_ _5"/>1%) at<span class="_ _5"/> the end of 2024<span class="_ _5"/>. Shar<span class="_ _5"/>e buy-backs o<span class="_ _5"/>f maximum 15% of the shar<span class="_ _5"/>e capital can be decided by <span class="_ _5"/>the Board </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of Directors<span class="_ _5"/>, and dividends paid out<span class="_ _5"/> are <span class="_ _5"/>to be between 30-50% of the underl<span class="_ _5"/>ying profit<span class="_ _5"/> in accordance <span class="_ _5"/>with the company’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividend policy<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:234.71875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 281.186px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The basis for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> calculating earnings per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share is </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the following:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A.P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">. Møller</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> - Mærsk A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">’</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share of:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 45.123px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> the period</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.697px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,109</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,822</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 95.3262px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 119.998px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued shares 1 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">January</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 323.531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,569,715</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.4688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18,707,161</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 134.889px; width: 569.455px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e number of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">treasury</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> shares</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 743,998 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,213,793</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 149.779px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e number of cancel</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">led shares</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 1,055,879 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">648,188</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.67px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verage number</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es (basic)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.348px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15,769,838 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,845,180</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 179.561px; width: 569.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dilutive effect</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of outstanding restricted and perf</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ormance shares and shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e options </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 27,234 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,862</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 194.451px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verage number</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es (diluted)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.215px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,797,072 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,874,042</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 209.342px; width: 569.695px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Basic earnings per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share (USD)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 328.869px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">387</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 224.232px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Diluted earnings per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share (USD)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">387</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">227</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Earnings per<span class="_ _5"/> share<span class="ff3"> is calculated as <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S’<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _5"/>the profit<span class="_ _5"/> for<span class="_ _5"/> the y<span class="_ _5"/>ear divided b<span class="_ _5"/>y the a<span class="_ _5"/>verage<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _5"/> of shares outstanding (of DKK 1,000 each),<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">excluding Maersk’<span class="_ _5"/>s holding of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es. Dilut<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">earnings per<span class="_ _5"/> share ar<span class="_ _5"/>e adjusted for<span class="_ _5"/> the dilutive eff<span class="_ _5"/>ect of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the aver<span class="_ _5"/>age number<span class="_ _5"/> of restricted shar<span class="_ _5"/>es,<span class="_ _5"/> performance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and shar<span class="_ _5"/>e options outstanding as issued by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _5"/> company<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Dividends</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The dividend of DKK <span style="letter-spacing: 0.003px;">515</span> per<span class="_ _5"/> share of DKK <span style="letter-spacing: 0.001px;">1,000</span> w<span class="_ _5"/>as paid on 19 March 202<span class="_ _5"/>4 – a t<span class="_ _5"/>otal of DKK <span style="letter-spacing: 0px;">8.1</span>bn, equiv<span class="_ _5"/>alent t<span class="_ _5"/>o USD <span style="letter-spacing: 0.003px;">1.2</span>bn, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">excluding tr<span class="_ _5"/>easury shar<span class="_ _5"/>es (dividend of DKK <span style="letter-spacing: 0.281px;">4,300</span> per<span class="_ _5"/> share of DKK <span style="letter-spacing: 0.282px;">1,000</span> paid on<span class="_ _5"/> 31 March 2023 – a <span class="_ _5"/>total of DKK <span style="letter-spacing: 0.281px;">74.4</span>bn, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equi<span class="_ _8"/>valent to US<span class="_ _8"/>D <span style="letter-spacing: 0.002px;">10.9</span>bn, e<span class="_ _5"/>xcluding treasury<span class="_ _5"/> shares).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The Board of Directors pr<span class="_ _5"/>oposes a dividend to <span class="_ _5"/>the shareholders of DKK <span style="letter-spacing: 0.282px;">1,120</span> per shar<span class="_ _5"/>e of DKK <span style="letter-spacing: 0.282px;">1,000</span> – a <span class="_ _5"/>total of DKK </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span style="letter-spacing: 0.003px;">17.6</span>bn,<span class="_ _5"/> equivalent<span class="_ _5"/> to USD <span style="letter-spacing: 0.001px;">2.4</span>bn.<span class="_ _5"/> Payment<span class="_ _5"/> of dividends is expected <span class="_ _5"/>to tak<span class="_ _5"/>e place on 21 March<span class="_ _5"/> 2025.<span class="_ _5"/> Payment o<span class="_ _5"/>f dividends to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shareholders does not<span class="_ _5"/> trigger<span class="_ _5"/> tax<span class="_ _5"/>es for<span class="_ _5"/> Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3"> includes total compr<span class="_ _5"/>ehensive income for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _5"/>ofit for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> and other<span class="_ _5"/> comprehen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _5"/> Proceeds on <span class="_ _5"/>the purchase and sale of <span class="_ _5"/>treas-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ury shar<span class="_ _5"/>es and dividend from such shar<span class="_ _5"/>es are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _5"/>.<span class="_ _5"/> The <span class="_ _5"/>translation<span class="_ _5"/> reserve is comprised of Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _5"/>ed exchange r<span class="_ _5"/>ate differ<span class="_ _5"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _5"/>anslation fr<span class="_ _5"/>om functional currency<span class="_ _5"/> into presen<span class="_ _5"/>tation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The reserve for<span class="_ _5"/> other<span class="_ _5"/> equity in<span class="_ _5"/>vestments is com<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _5"/> FVOCI),<span class="_ _5"/> net of <span class="_ _5"/>tax. Reserves f<span class="_ _5"/>or hedg<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the accumulat<span class="_ _5"/>ed fair<span class="_ _5"/> value chang<span class="_ _5"/>e of derivatives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> cash flow hedge accounting,<span class="_ _5"/> less amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _5"/> reclassified <span class="_ _5"/>to the income statemen<span class="_ _5"/>t or<span class="_ _5"/> tr<span class="_ _5"/>ans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferred as basis adjustmen<span class="_ _5"/>ts, net<span class="_ _5"/> of tax,<span class="_ _5"/> as well as f<span class="_ _5"/>orward </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _5"/> basis spread.</span> 515 1000 8100000000 1200000000 4300 1000 74400000000 10900000000 1120 1000 17600000000 2400000000 <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Earnings per<span class="_ _5"/> share<span class="ff3"> is calculated as <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S’<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _5"/>the profit<span class="_ _5"/> for<span class="_ _5"/> the y<span class="_ _5"/>ear divided b<span class="_ _5"/>y the a<span class="_ _5"/>verage<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _5"/> of shares outstanding (of DKK 1,000 each),<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">excluding Maersk’<span class="_ _5"/>s holding of tr<span class="_ _5"/>easury shar<span class="_ _5"/>es. Dilut<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">earnings per<span class="_ _5"/> share ar<span class="_ _5"/>e adjusted for<span class="_ _5"/> the dilutive eff<span class="_ _5"/>ect of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the aver<span class="_ _5"/>age number<span class="_ _5"/> of restricted shar<span class="_ _5"/>es,<span class="_ _5"/> performance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and shar<span class="_ _5"/>e options outstanding as issued by <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _5"/> company<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3"> includes total compr<span class="_ _5"/>ehensive income for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _5"/>ofit for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> and other<span class="_ _5"/> comprehen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _5"/> Proceeds on <span class="_ _5"/>the purchase and sale of <span class="_ _5"/>treas-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ury shar<span class="_ _5"/>es and dividend from such shar<span class="_ _5"/>es are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _5"/>.<span class="_ _5"/> The <span class="_ _5"/>translation<span class="_ _5"/> reserve is comprised of Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _5"/>ed exchange r<span class="_ _5"/>ate differ<span class="_ _5"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _5"/>anslation fr<span class="_ _5"/>om functional currency<span class="_ _5"/> into presen<span class="_ _5"/>tation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The reserve for<span class="_ _5"/> other<span class="_ _5"/> equity in<span class="_ _5"/>vestments is com<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _5"/> FVOCI),<span class="_ _5"/> net of <span class="_ _5"/>tax. Reserves f<span class="_ _5"/>or hedg<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the accumulat<span class="_ _5"/>ed fair<span class="_ _5"/> value chang<span class="_ _5"/>e of derivatives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> cash flow hedge accounting,<span class="_ _5"/> less amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _5"/> reclassified <span class="_ _5"/>to the income statemen<span class="_ _5"/>t or<span class="_ _5"/> tr<span class="_ _5"/>ans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferred as basis adjustmen<span class="_ _5"/>ts, net<span class="_ _5"/> of tax,<span class="_ _5"/> as well as f<span class="_ _5"/>orward </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _5"/> basis spread.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3"> includes total compr<span class="_ _5"/>ehensive income for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _5"/>ofit for<span class="_ _5"/> <span class="_ _5"/>the year<span class="_ _5"/> and other<span class="_ _5"/> comprehen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _5"/> Proceeds on <span class="_ _5"/>the purchase and sale of <span class="_ _5"/>treas-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ury shar<span class="_ _5"/>es and dividend from such shar<span class="_ _5"/>es are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _5"/>.<span class="_ _5"/> The <span class="_ _5"/>translation<span class="_ _5"/> reserve is comprised of Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _5"/>ed exchange r<span class="_ _5"/>ate differ<span class="_ _5"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _5"/>anslation fr<span class="_ _5"/>om functional currency<span class="_ _5"/> into presen<span class="_ _5"/>tation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>The reserve for<span class="_ _5"/> other<span class="_ _5"/> equity in<span class="_ _5"/>vestments is com<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of equity </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _5"/> FVOCI),<span class="_ _5"/> net of <span class="_ _5"/>tax. Reserves f<span class="_ _5"/>or hedg<span class="_ _5"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the accumulat<span class="_ _5"/>ed fair<span class="_ _5"/> value chang<span class="_ _5"/>e of derivatives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _5"/> cash flow hedge accounting,<span class="_ _5"/> less amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _5"/> reclassified <span class="_ _5"/>to the income statemen<span class="_ _5"/>t or<span class="_ _5"/> tr<span class="_ _5"/>ans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferred as basis adjustmen<span class="_ _5"/>ts, net<span class="_ _5"/> of tax,<span class="_ _5"/> as well as f<span class="_ _5"/>orward </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _5"/> basis spread.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.2 <span class="_"> </span>Borr<span class="_ _5"/>owings and lease liability r<span class="_ _5"/>econciliation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:355.234375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 0.0136718px; width: 42.1875px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 220.062px; top: 0.0136718px; width: 352.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-cash chang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 121.734px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 507.688px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.141px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 36.6855px; width: 76.6699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.2734px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">From</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 262.766px; top: 36.6855px; width: 79.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Addi- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 351.047px; top: 36.6855px; width: 97.6289px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dis posals</span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.906px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 195.594px; top: 48.6855px; width: 42.6211px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 316.312px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 401.812px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exchange </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 196.75px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 415.75px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">move-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 415.75px; top: 72.6855px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 106.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 569.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.914px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 61.5312px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 139.139px; width: 407.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">875</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-153</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 238.953px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 238.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,366</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">847</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 276.016px; top: 154.045px; width: 293.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 570.023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,169</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,539</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 198.717px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.9279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">197</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 358.91px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">526</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.498px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Leases:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.389px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.1406px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3652px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,046</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-389</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-210</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 273.186px; width: 570.023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,798</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,728</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 288.076px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.119px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,684</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 302.951px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3652px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,199</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-389</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-397</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.748px; width: 103.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es hedge of </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 344.748px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">borrowings, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.9395px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">435</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Other includes f<span class="_ _5"/>air <span class="_ _5"/>value changes and amortisation of f<span class="_ _5"/>ees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of the total issued bonds at 31 December<span class="_ _5"/> 202<span class="_ _5"/>4, USD 2.4bn<span class="_ _5"/> are green bonds primaril<span class="_ _5"/>y used t<span class="_ _5"/>o finance investments in dual-fuel v<span class="_ _5"/>essels, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">electrified material handling equipment<span class="_ _5"/> and construction of low-emission buildings<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Cash flows from financing activities of USD 84<span class="_ _5"/>7m ar<span class="_ _5"/>e made up of repayments of borr<span class="_ _5"/>owings of negativ<span class="_ _5"/>e USD 705m and proc<span class="_ _5"/>eeds from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">borrowings of USD<span class="_ _5"/> 1.6bn, adjusted f<span class="_ _5"/>or borr<span class="_ _5"/>owings associated with assets held f<span class="_ _5"/>or sale of USD<span class="_ _5"/> 615m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _5"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.2812px; top: 0.0136718px; width: 42.1875px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 169.875px; top: 0.0136718px; width: 401.631px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-cash changes</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net</span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 75.1719px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 508.906px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.719px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 114.531px; top: 36.6855px; width: 72.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2022</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fr</span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 211.453px; top: 36.6855px; width: 79.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Addi- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 36.6855px; width: 97.9219px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dis posals</span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.14259px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ransf</span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ers, </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 410.266px; top: 36.6855px; width: 38.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Foreign </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.391px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 144.562px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 266.125px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 402.266px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exchange </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 145.969px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 358.656px; top: 60.6855px; width: 39.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 416.688px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">move-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 72.6855px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">sale</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 416.688px; top: 72.6855px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 76.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 569.695px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">credit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 61.4531px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 114.531px; top: 139.139px; width: 454.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,976</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">308</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 187.078px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 186.779px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,029</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 226.484px; top: 154.045px; width: 342.211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,366</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,774</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,169</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.3517px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">197</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.514px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Leases:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 267.389px; width: 288.984px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,614</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,226</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,268</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 319.75px; top: 267.404px; width: 248.9px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">84</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,582</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,798</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,032</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 86.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,643</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,006</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,271</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">145</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">58</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 90.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es hedge </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of borrowings, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">532</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-46</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-81</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Other includes f<span class="_ _5"/>air <span class="_ _5"/>value changes and amortisation of f<span class="_ _5"/>ees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of the total issued bonds at 31 December<span class="_ _5"/> 2023<span class="_ _5"/>, USD 1.3bn<span class="_ _5"/> are green bonds primaril<span class="_ _5"/>y used to financ<span class="_ _5"/>e the construction of dual-fuel v<span class="_ _5"/>essels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Cash flows from financing activities of USD 220m ar<span class="_ _5"/>e made up of repayments of borr<span class="_ _5"/>owings of nega<span class="_ _5"/>tive USD 660m, adjust<span class="_ _5"/>ed for cash<span class="_ _5"/> flows </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from hedges of USD<span class="_ _5"/> 35m and proceeds fr<span class="_ _5"/>om borrowings of USD 845m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Additions include USD 29m of lease liabilities from<span class="_ _5"/> businesses acquired during 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _5"/>ysis of lease liabilities is disclosed in note 4.5 Financial instrumen<span class="_ _5"/>ts and risks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _5"/> reco<span class="_ _5"/>gnised at fair<span class="_ _5"/> <span class="_ _5"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> costs. Subsequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the financial liabilities are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method, <span class="_ _5"/>whereby<span class="_ _5"/> tr<span class="_ _5"/>ansaction costs and any pr<span class="_ _5"/>emium <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> discount ar<span class="_ _5"/>e recognised as financial e<span class="_ _5"/>xpenses over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the term<span class="_ _5"/> of the liabilities.<span class="_ _5"/> Fixed inter<span class="_ _5"/>est loans subject <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge accounting are measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost with<span class="_ _5"/> an adjustment f<span class="_ _5"/>or <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of the hedged </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _5"/>est component.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _5"/>e measured at <span class="_ _5"/>the present<span class="_ _5"/> v<span class="_ _5"/>alue of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _5"/> <span class="_ _5"/>the lease term,<span class="_ _5"/> at <span class="_ _5"/>the interest<span class="_ _5"/> r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _5"/>the lease,<span class="_ _5"/> or at<span class="_ _5"/> Maersk’<span class="_ _5"/>s incremental borr<span class="_ _5"/>owing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te (IBR). Maersk’<span class="_ _5"/>s IBR re<span class="_ _5"/>flects the Group’<span class="_ _5"/>s cr<span class="_ _5"/>edit risk,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased amount,<span class="_ _5"/> and contract<span class="_ _5"/> duration,<span class="_ _5"/> as wel<span class="_ _5"/>l as the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nature and quality<span class="_ _5"/> of the asset’<span class="_ _5"/>s security and economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">environmen<span class="_ _5"/>t in which <span class="_ _5"/>the leased assets opera<span class="_ _5"/>te.<span class="_ _5"/> T<span class="_ _0"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determine the IBR,<span class="_ _5"/> wher<span class="_ _5"/>e possible, Maersk uses r<span class="_ _5"/>ecent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _5"/> financing received by<span class="_ _5"/> the individual lessee as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a starting point,<span class="_ _5"/> with adjustments <span class="_ _5"/>to reflect<span class="_ _5"/> changes in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financing conditions since that<span class="_ _5"/> financing was r<span class="_ _5"/>eceived.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Where such financing is not<span class="_ _5"/> available,<span class="_ _5"/> Maersk uses a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">build-up approach <span class="_ _5"/>that starts with<span class="_ _5"/> a risk<span class="_ _5"/>- free inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te adjusted by cr<span class="_ _5"/>edit risk and specific risks f<span class="_ _5"/>aced by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _8"/>lessee such as asset <span class="_ _5"/>type,<span class="_ _5"/> geogr<span class="_ _5"/>aphical risks,<span class="_ _5"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Subsequentl<span class="_ _5"/>y<span class="_ _5"/>, <span class="_ _5"/>the lease liability is measured a<span class="_ _5"/>t amor<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _5"/> each lease payment al<span class="_ _5"/>located between <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _5"/>t of the liability<span class="_ _5"/> and financing cost. <span class="_ _5"/>The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _5"/>ged to <span class="_ _5"/>the income statement<span class="_ _5"/> over<span class="_ _5"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _5"/>the IBR that<span class="_ _5"/> was used <span class="_ _5"/>to discount <span class="_ _5"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _5"/>yments are included in <span class="_ _5"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _5"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>fixed pa<span class="_ _5"/>yments (including in-substance fixed pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments),<span class="_ _5"/> less any lease incentives r<span class="_ _5"/>eceivable</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>v<span class="_ _5"/>ariable lease payments that<span class="_ _5"/> are based on an<span class="_ _5"/> index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _8"/>r a r<span class="_ _8"/>at<span class="_ _8"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>amounts e<span class="_ _5"/>xpected to be pa<span class="_ _5"/>yable by <span class="_ _5"/>the lessee under<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _5"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>the ex<span class="_ _5"/>ercise price of a pur<span class="_ _5"/>chase option if the lessee is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>to exercise <span class="_ _5"/>that option,<span class="_ _5"/> and pay<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _5"/>or <span class="_ _5"/>terminating the lease<span class="_ _5"/>, if <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _5"/> reflects the lessee e<span class="_ _5"/>xercising <span class="_ _5"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _5"/>termination options in lease contr<span class="_ _5"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _5"/>acts where it<span class="_ _5"/> is reasonabl<span class="_ _5"/>y certain <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk will ex<span class="_ _5"/>ercise the options<span class="_ _5"/>. <span class="_ _5"/>These terms ar<span class="_ _5"/>e used </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to maximise oper<span class="_ _5"/>ational flexibility in <span class="_ _5"/>terms of managing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _5"/>acts. In<span class="_ _5"/> determining the lease <span class="_ _5"/>term, Managemen<span class="_ _5"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers all facts and cir<span class="_ _5"/>cumstances that<span class="_ _5"/> creat<span class="_ _5"/>e an eco<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nomic incentive <span class="_ _5"/>to exercise an<span class="_ _5"/> extension option or<span class="_ _5"/> t<span class="_ _5"/>o not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exer<span class="_ _5"/>cise a termination<span class="_ _5"/> option. Most<span class="_ _5"/> of the extension and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination options held ar<span class="_ _5"/>e exercisable onl<span class="_ _5"/>y by<span class="_ _5"/> Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and not by<span class="_ _5"/> the r<span class="_ _5"/>espective lessor<span class="_ _5"/>.<span class="_ _5"/> <span class="_ _5"/>This assessment is r<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">view<span class="_ _5"/>ed if a<span class="_ _5"/> significant event<span class="_ _5"/> or<span class="_ _5"/> a significant change in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">circum<span class="_ _8"/>stances occurs which aff<span class="_ _5"/>ects this assessment,<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which is within <span class="_ _5"/>the control of <span class="_ _5"/>the lessee.<span class="_ _5"/> Where Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will probabl<span class="_ _5"/>y exer<span class="_ _5"/>cise specific purchase options<span class="_ _5"/>, <span class="_ _5"/>those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options are included in <span class="_ _5"/>the measurement<span class="_ _5"/> of the lease li-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability with<span class="_ _5"/> corresponding right<span class="_ _5"/>-of-use asset depr<span class="_ _5"/>eciated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/> the asset’<span class="_ _5"/>s useful life r<span class="_ _5"/>ather<span class="_ _5"/> than lease <span class="_ _5"/>term.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.2 <span class="_"> </span>Borr<span class="_ _5"/>owings and lease liability r<span class="_ _5"/>econciliation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:355.234375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 0.0136718px; width: 42.1875px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 220.062px; top: 0.0136718px; width: 352.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.7696px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-cash chang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 121.734px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 507.688px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.141px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 36.6855px; width: 76.6699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.2734px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">From</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 262.766px; top: 36.6855px; width: 79.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Addi- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 351.047px; top: 36.6855px; width: 97.6289px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dis posals</span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.906px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 195.594px; top: 48.6855px; width: 42.6211px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 316.312px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 401.812px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exchange </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 196.75px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 415.75px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">move-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 415.75px; top: 72.6855px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 106.289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 569.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.914px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-28</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 61.5312px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 139.139px; width: 407.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">875</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-153</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 238.953px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 238.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,366</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">847</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 276.016px; top: 154.045px; width: 293.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 570.023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,169</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,539</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 198.717px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.9279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">197</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 358.91px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">526</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.498px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Leases:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.389px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.1406px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3652px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,046</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-389</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-210</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 273.186px; width: 570.023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,798</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.529px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,728</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 288.076px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.119px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,684</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 302.951px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3652px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,199</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,609</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-389</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-397</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.748px; width: 103.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es hedge of </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 344.748px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">borrowings, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.9395px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.1992px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-67</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">435</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Other includes f<span class="_ _5"/>air <span class="_ _5"/>value changes and amortisation of f<span class="_ _5"/>ees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of the total issued bonds at 31 December<span class="_ _5"/> 202<span class="_ _5"/>4, USD 2.4bn<span class="_ _5"/> are green bonds primaril<span class="_ _5"/>y used t<span class="_ _5"/>o finance investments in dual-fuel v<span class="_ _5"/>essels, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">electrified material handling equipment<span class="_ _5"/> and construction of low-emission buildings<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Cash flows from financing activities of USD 84<span class="_ _5"/>7m ar<span class="_ _5"/>e made up of repayments of borr<span class="_ _5"/>owings of negativ<span class="_ _5"/>e USD 705m and proc<span class="_ _5"/>eeds from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">borrowings of USD<span class="_ _5"/> 1.6bn, adjusted f<span class="_ _5"/>or borr<span class="_ _5"/>owings associated with assets held f<span class="_ _5"/>or sale of USD<span class="_ _5"/> 615m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _5"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.2812px; top: 0.0136718px; width: 42.1875px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 169.875px; top: 0.0136718px; width: 401.631px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flows</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Non-cash changes</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net</span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> debt </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 75.1719px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 508.906px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 493.719px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 114.531px; top: 36.6855px; width: 72.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2022</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fr</span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 211.453px; top: 36.6855px; width: 79.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.7558px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Addi- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 36.6855px; width: 97.9219px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dis posals</span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.14259px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ransf</span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ers, </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 410.266px; top: 36.6855px; width: 38.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Foreign </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.391px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 144.562px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 266.125px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 402.266px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exchange </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 145.969px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">activities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 358.656px; top: 60.6855px; width: 39.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 416.688px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">move-</span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 72.6855px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">sale</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 416.688px; top: 72.6855px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 76.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 569.695px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">credit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 61.4531px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 114.531px; top: 139.139px; width: 454.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,976</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.0977px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">308</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 187.078px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 186.779px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,029</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">220</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 226.484px; top: 154.045px; width: 342.211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.1466px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,366</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,774</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,169</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.3517px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">197</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.514px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Leases:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 267.389px; width: 288.984px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.3535px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,614</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,226</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,268</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 319.75px; top: 267.404px; width: 248.9px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">84</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 85.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as non- </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,582</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,798</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Classified as </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.2091px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,032</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,650</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 86.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">and leases</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,643</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,006</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,271</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.1641px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">145</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">58</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 90.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es hedge </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of borrowings, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">532</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.1543px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-46</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-81</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">352</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Other includes f<span class="_ _5"/>air <span class="_ _5"/>value changes and amortisation of f<span class="_ _5"/>ees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Of the total issued bonds at 31 December<span class="_ _5"/> 2023<span class="_ _5"/>, USD 1.3bn<span class="_ _5"/> are green bonds primaril<span class="_ _5"/>y used to financ<span class="_ _5"/>e the construction of dual-fuel v<span class="_ _5"/>essels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Cash flows from financing activities of USD 220m ar<span class="_ _5"/>e made up of repayments of borr<span class="_ _5"/>owings of nega<span class="_ _5"/>tive USD 660m, adjust<span class="_ _5"/>ed for cash<span class="_ _5"/> flows </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from hedges of USD<span class="_ _5"/> 35m and proceeds fr<span class="_ _5"/>om borrowings of USD 845m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Additions include USD 29m of lease liabilities from<span class="_ _5"/> businesses acquired during 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _5"/>ysis of lease liabilities is disclosed in note 4.5 Financial instrumen<span class="_ _5"/>ts and risks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.5 <span class="_"> </span>Cash flo<span class="_ _5"/>w specifications</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:216px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 26.8105px; width: 115.242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in working capital</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 41.7012px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.039px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-754</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,392</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 56.5918px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> working capital movements</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">322</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-963</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 71.4824px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate adjustment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.818px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 86.3574px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 444.581px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-311</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">417</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 116.154px; width: 289.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Purchase of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> intangible assets and property, plant and equipment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 44.1875px; top: 130.93px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 131.045px; width: 44.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 131.061px; width: 109.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-9,356</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6,024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.951px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of which is right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,601</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,164</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.842px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of which is borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owing costs capitalised on assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 174.982px; width: 570.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustments of additions for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cash flow pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">esentation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.623px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in pay</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables to suppliers r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">egarding pur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">chase of assets, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 164.695px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 205.514px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 434.438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4,201</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3,646</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Additions to intangible assets of USD<span class="_ _5"/> 260m (USD 204m),<span class="_ _5"/> property<span class="_ _5"/>, plan<span class="_ _5"/>t and equipment of USD<span class="_ _5"/> 4.4bn (USD 3<span class="_ _5"/>.7bn),<span class="_ _5"/> right-of-use assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 4.6bn (USD<span class="_ _5"/> 2.2bn) and assets held for<span class="_ _5"/> sale of USD 44m (USD 0m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Operations in coun<span class="_ _5"/>tries with limited access t<span class="_ _5"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriating surplus cash</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk opera<span class="_ _5"/>tes worldwide and,<span class="_ _5"/> in this r<span class="_ _5"/>espect, has </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opera<span class="_ _5"/>tions in countries where <span class="_ _5"/>the ability <span class="_ _5"/>to repatria<span class="_ _5"/>te </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">surplus cash is complicated and <span class="_ _5"/>time consuming. In<span class="_ _5"/> these </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries,<span class="_ _5"/> Management mak<span class="_ _5"/>es judgements as <span class="_ _5"/>to whether<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these cash positions can be r<span class="_ _5"/>ecognised as cash and cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equivalents.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow<span class="ff3"> from<span class="_ _5"/> operating activities includes al<span class="_ _5"/>l cash </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions other<span class="_ _5"/> <span class="_ _5"/>than cash flows arising from<span class="_ _5"/> investing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and financing activities such as investments and div<span class="_ _5"/>est-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> received dividends<span class="_ _5"/>, principal paymen<span class="_ _5"/>ts of loans, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instalments on lease liabilities,<span class="_ _5"/> paid and receiv<span class="_ _5"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and equity <span class="_ _5"/>transactions<span class="_ _5"/>. Capitalisa<span class="_ _5"/>tion of borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs is considered as a non-cash<span class="_ _5"/> item, and <span class="_ _5"/>the actual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments of <span class="_ _5"/>these borrowing costs ar<span class="_ _5"/>e included in cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">flow from financing.</span></span><span class="_ _5"/> <span><span style="display:inherit;clear:left;">Cash and cash<span class="_ _5"/> equivalents comprise </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash and bank balances net of bank o<span class="_ _5"/>verdr<span class="_ _5"/>afts where </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/>draft<span class="_ _5"/> facilities form an in<span class="_ _5"/>tegr<span class="_ _5"/>al part of Maersk’<span class="_ _5"/>s cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">management.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _5"/> reco<span class="_ _5"/>gnised at fair<span class="_ _5"/> <span class="_ _5"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> costs. Subsequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the financial liabilities are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method, <span class="_ _5"/>whereby<span class="_ _5"/> tr<span class="_ _5"/>ansaction costs and any pr<span class="_ _5"/>emium <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> discount ar<span class="_ _5"/>e recognised as financial e<span class="_ _5"/>xpenses over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the term<span class="_ _5"/> of the liabilities.<span class="_ _5"/> Fixed inter<span class="_ _5"/>est loans subject <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge accounting are measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost with<span class="_ _5"/> an adjustment f<span class="_ _5"/>or <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of the hedged </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _5"/>est component.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _5"/> reco<span class="_ _5"/>gnised at fair<span class="_ _5"/> <span class="_ _5"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _5"/> costs. Subsequen<span class="_ _5"/>tly<span class="_ _5"/>,<span class="_ _5"/> the financial liabilities are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _5"/> amortised cost using <span class="_ _5"/>the effective inter<span class="_ _5"/>est </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method, <span class="_ _5"/>whereby<span class="_ _5"/> tr<span class="_ _5"/>ansaction costs and any pr<span class="_ _5"/>emium <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> discount ar<span class="_ _5"/>e recognised as financial e<span class="_ _5"/>xpenses over<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the term<span class="_ _5"/> of the liabilities.<span class="_ _5"/> Fixed inter<span class="_ _5"/>est loans subject <span class="_ _5"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge accounting are measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost with<span class="_ _5"/> an adjustment f<span class="_ _5"/>or <span class="_ _5"/>the fair<span class="_ _5"/> v<span class="_ _5"/>alue of the hedged </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _5"/>est component.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.4 <span class="_ _215"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Of which USD 611m<span class="_ _5"/> (USD 563m) relates <span class="_ _5"/>to inter<span class="_ _5"/>est expenses on lease liabilities and USD 340m (USD<span class="_ _5"/> 280m) to borro<span class="_ _5"/>wings.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The capitalisation rate used t<span class="_ _5"/>o determine the amount<span class="_ _5"/> of borrowing costs eligible for<span class="_ _5"/> capitalisation is 6.2% (7<span class="_ _0"/>.2%). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Of which USD 1m (USD 1m) pertains to shar<span class="_ _5"/>es held at <span class="_ _5"/>the end of the year<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>Of which USD 0m (USD<span class="_ _5"/> 10m) relates <span class="_ _5"/>to expenses from pr<span class="_ _5"/>epayment of issued bonds<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _5"/> t<span class="_ _5"/>o note 4.5 financial instruments and risks f<span class="_ _5"/>or <span class="_ _5"/>the analysis of gains and losses fr<span class="_ _5"/>om derivativ<span class="_ _5"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:378.15625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 141.328px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est expenses on liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 24.6855px; width: 105.621px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,002</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">904</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 175.25px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowing costs capitalised on</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 473.031px; top: 39.5762px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">105</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">133</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est income on loans and r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,110</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,202</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value adjustment </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansferred fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om equity hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve (loss)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-181</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate gains on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate losses on bank balances, borr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">owings and working capital</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">327</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">522</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign exchang</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-187</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value gains fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 322.723px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">179</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value losses from</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.24px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">56</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue gains/losses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.088px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-124</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">144</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 159.719px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Dividends received fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">om securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 487.484px; top: 233.186px; width: 83.0273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loss on payable c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ontingent consider</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Impairment losses on financial as</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">sets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.279px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reversal of impairment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> losses on financial assets </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 308.107px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-428</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 337.904px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.779px; width: 569.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.706px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,804</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.67px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.2px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,568</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,376</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s currency<span class="_ _5"/> risk relat<span class="_ _5"/>es to <span class="_ _5"/>the fact <span class="_ _5"/>that while income fr<span class="_ _5"/>om Ocean activities is denominat<span class="_ _5"/>ed mainly in USD<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed expenses are incurr<span class="_ _5"/>ed in both USD and a wide r<span class="_ _5"/>ange of other<span class="_ _5"/> currencies such<span class="_ _5"/> as EUR, DKK,<span class="_ _5"/> CNY and BRL.<span class="_ _5"/> <span class="_ _5"/>As the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is in USD,<span class="_ _5"/> this is also <span class="_ _5"/>the primary financing curr<span class="_ _5"/>ency<span class="_ _5"/>. Income and e<span class="_ _5"/>xpenses from other<span class="_ _5"/> activities including <span class="_ _5"/>T<span class="_ _5"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are mainl<span class="_ _5"/>y denominated in local curr<span class="_ _5"/>encies,<span class="_ _5"/> thus reducing <span class="_ _5"/>the Group’<span class="_ _5"/>s exposur<span class="_ _5"/>e to <span class="_ _5"/>these currencies.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to an incr<span class="_ _5"/>ease in the USD ex<span class="_ _5"/>change ra<span class="_ _5"/>te of 10% against al<span class="_ _5"/>l other significant<span class="_ _5"/> currencies <span class="_ _5"/>to which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group is exposed is estimat<span class="_ _5"/>ed to hav<span class="_ _5"/>e the fol<span class="_ _5"/>lowing symmetrical impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _5"/>y on the impact<span class="_ _5"/> of financial instruments tha<span class="_ _5"/>t are outstanding a<span class="_ _5"/>t the balance sheet<span class="_ _5"/> date </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _5"/>thus not an expr<span class="_ _5"/>ession of the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s total curr<span class="_ _5"/>ency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 310.609px; top: 0.0136718px; width: 231.938px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Equity befor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sensitivity for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial instruments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-45</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-145</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension obligations<span class="ff3"> are <span class="_ _5"/>the net liabilities of defined bene-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fit obligations and <span class="_ _5"/>the dedicated assets adjusted f<span class="_ _5"/>or <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect o<span class="_ _5"/>f minimum funding and asset ceiling r<span class="_ _5"/>equire<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _5"/> Plans with a funding surplus ar<span class="_ _5"/>e presented as net<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets on the balance sheet.<span class="_ _5"/> <span class="_ _5"/>The defined benefit obliga-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions are measur<span class="_ _5"/>ed at <span class="_ _5"/>the present<span class="_ _5"/> value of expect<span class="_ _5"/>ed fu-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ture paymen<span class="_ _5"/>ts to be made in r<span class="_ _5"/>espect of services pr<span class="_ _5"/>o <span class="_ _9"/>vided </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by emplo<span class="_ _5"/>yees up to <span class="_ _5"/>the balance sheet date<span class="_ _5"/>. Plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value.<span class="_ _5"/> The pension<span class="_ _5"/> cost charg<span class="_ _5"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> consists of calculated amounts for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vested benefits and int<span class="_ _5"/>erest in addition<span class="_ _5"/> to settlement<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gains or<span class="_ _5"/> losses,<span class="_ _5"/> etc. In<span class="_ _5"/>terest<span class="_ _5"/> on plan assets is calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _5"/>the same rat<span class="_ _5"/>es as used for<span class="_ _5"/> discounting the obliga<span class="_ _5"/> <span class="_ _9"/>tions. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Actuarial gains/losses are r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hensive income.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension plans wher<span class="_ _5"/>e Maersk, as part<span class="_ _5"/> of collective <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bargaining agr<span class="_ _5"/>eements,<span class="_ _5"/> participates t<span class="_ _5"/>ogether<span class="_ _5"/> with <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _5"/> enterprises – so called multi-emplo<span class="_ _5"/>yer<span class="_ _5"/> plans <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">– are <span class="_ _5"/>treated as other<span class="_ _5"/> pension plans in <span class="_ _5"/>the financial <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">statements.<span class="_ _5"/> Defined benefit<span class="_ _5"/> multi-employer<span class="_ _5"/> plans,<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where sufficient<span class="_ _5"/> information <span class="_ _5"/>to apply<span class="_ _5"/> defined benefit </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting is not a<span class="_ _5"/>vailable,<span class="_ _5"/> are <span class="_ _5"/>treated as defined<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contribution plans.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.5 <span class="_"> </span>Financial instrument<span class="_ _5"/>s and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The gain/losses of the deriv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">atives are r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised as f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ollows:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the cost of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ffective hedging</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ineffectiveness r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.014px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eclassified from equity r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 199.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives accounted for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> as held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> trading:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> -129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es recognised dir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ectly in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil prices and freight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net gains/losses r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">175</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 444.581px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">190</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s derivativ<span class="_ _5"/>es are pr<span class="_ _5"/>esented at f<span class="_ _5"/>air <span class="_ _5"/>value in <span class="_ _5"/>the balance sheet.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s activities expose it<span class="_ _5"/> to a <span class="_ _5"/>variety of financial risk<span class="_ _5"/>s:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Mark<span class="_ _5"/>et risks<span class="_ _5"/>, i.e<span class="_ _5"/>., curr<span class="_ _5"/>ency risk,<span class="_ _5"/> interest<span class="_ _5"/> rat<span class="_ _5"/>e risk and oil price risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Cr<span class="_ _5"/>edit risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Liquidity<span class="_ _5"/> risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s over<span class="_ _5"/>all risk management<span class="_ _5"/> pro<span class="_ _5"/>gramme focuses on<span class="_ _5"/> the unpredictability<span class="_ _5"/> of financial markets and seeks <span class="_ _5"/>to <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mini<span class="_ _8"/>mise the poten<span class="_ _5"/>tial adverse effects on <span class="_ _5"/>the Group’<span class="_ _5"/>s financial performance.<span class="_ _5"/> <span class="_ _5"/>The Group uses derivativ<span class="_ _5"/>e financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments t<span class="_ _5"/>o hedge certain risk exposures<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Risk management is carried out by<span class="_ _5"/> a centr<span class="_ _5"/>al finance department under<span class="_ _5"/> policies appr<span class="_ _5"/>oved by <span class="_ _5"/>the Board of Dir<span class="_ _5"/>ectors.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _8"/>finance department iden<span class="_ _5"/>tifies, e<span class="_ _5"/>valuates and hedges financial risks in<span class="_ _5"/> close cooperation <span class="_ _5"/>with the Gr<span class="_ _5"/>oup’s en<span class="_ _5"/>tities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span><span><span style="display:inherit;clear:left;">Market risk is the risk <span class="_ _5"/>that chang<span class="_ _5"/>es in market<span class="_ _5"/> prices, such<span class="_ _5"/> as foreign e<span class="_ _5"/>xchange ra<span class="_ _5"/>tes and inter<span class="_ _5"/>est r<span class="_ _5"/>ates,<span class="_ _5"/> will affect<span class="_ _5"/> the </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _5"/>s profit<span class="_ _5"/> or<span class="_ _5"/> the v<span class="_ _5"/>alue of its holdings of financial instruments.<span class="_ _5"/> <span class="_ _5"/>The sensitivity analyses in <span class="_ _5"/>the currency<span class="_ _5"/> risk and interest<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te risk sections relate <span class="_ _5"/>to the position<span class="_ _5"/> of financial instruments at 31 December<span class="_ _5"/> 202<span class="_ _5"/>4.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The sensitivity analyses for<span class="_ _5"/> currency<span class="_ _5"/> risk and inter<span class="_ _5"/>est r<span class="_ _5"/>ate risk have been pr<span class="_ _5"/>epared on <span class="_ _5"/>the basis that<span class="_ _5"/> the amount<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net debt,<span class="_ _5"/> the r<span class="_ _5"/>atio of fixed <span class="_ _5"/>to floating inter<span class="_ _5"/>est r<span class="_ _5"/>ates of the debt<span class="_ _5"/> and the pr<span class="_ _5"/>oportion of financial instruments in for<span class="_ _5"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies r<span class="_ _5"/>emain unchanged from<span class="_ _5"/> hedge designations in place at<span class="_ _5"/> 31 December 202<span class="_ _5"/>4.<span class="_ _5"/> Furthermore<span class="_ _5"/>, it<span class="_ _5"/> is assumed that <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exchange r<span class="_ _5"/>ate and inter<span class="_ _5"/>est r<span class="_ _5"/>ate sensitivities hav<span class="_ _5"/>e a symmetric impact,<span class="_ _5"/> i.e.<span class="_ _5"/> an increase in r<span class="_ _5"/>ates r<span class="_ _5"/>esults in <span class="_ _5"/>the same absolute </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">movement<span class="_ _5"/> as a decrease in r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The sensitivity analyses show the e<span class="_ _5"/>ffect on pr<span class="_ _5"/>ofit and equity<span class="_ _5"/> of a reasonabl<span class="_ _5"/>y possible change in ex<span class="_ _5"/>change rat<span class="_ _5"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">interest<span class="_ _5"/> rates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Hedges comprise primarily currency<span class="_ _5"/> derivativ<span class="_ _5"/>es and interest<span class="_ _5"/> rat<span class="_ _5"/>e derivatives,<span class="_ _5"/> which ar<span class="_ _5"/>e further<span class="_ _5"/> described in the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">followi<span class="_ _8"/>ng sections.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s currency<span class="_ _5"/> risk relat<span class="_ _5"/>es to <span class="_ _5"/>the fact <span class="_ _5"/>that while income fr<span class="_ _5"/>om Ocean activities is denominat<span class="_ _5"/>ed mainly in USD<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed expenses are incurr<span class="_ _5"/>ed in both USD and a wide r<span class="_ _5"/>ange of other<span class="_ _5"/> currencies such<span class="_ _5"/> as EUR, DKK,<span class="_ _5"/> CNY and BRL.<span class="_ _5"/> <span class="_ _5"/>As the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is in USD,<span class="_ _5"/> this is also <span class="_ _5"/>the primary financing curr<span class="_ _5"/>ency<span class="_ _5"/>. Income and e<span class="_ _5"/>xpenses from other<span class="_ _5"/> activities including <span class="_ _5"/>T<span class="_ _5"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are mainl<span class="_ _5"/>y denominated in local curr<span class="_ _5"/>encies,<span class="_ _5"/> thus reducing <span class="_ _5"/>the Group’<span class="_ _5"/>s exposur<span class="_ _5"/>e to <span class="_ _5"/>these currencies.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The main purpose of hedging the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s currency<span class="_ _5"/> risk is to hedge <span class="_ _5"/>the USD v<span class="_ _5"/>alue of the Gr<span class="_ _5"/>oup’s net<span class="_ _5"/> cash flow and reduce </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fluctuations in the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s profit.<span class="_ _5"/> The Gr<span class="_ _5"/>oup uses v<span class="_ _5"/>arious financial derivatives,<span class="_ _5"/> including forw<span class="_ _5"/>ards,<span class="_ _5"/> option contr<span class="_ _5"/>acts and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cross-curr<span class="_ _5"/>ency swaps<span class="_ _5"/>, <span class="_ _5"/>to hedge these risks<span class="_ _5"/>. <span class="_ _5"/>The ke<span class="_ _5"/>y aspects of the curr<span class="_ _5"/>ency hedging policy<span class="_ _5"/> are:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Net<span class="_ _5"/> cash flows in significant<span class="_ _5"/> currencies other<span class="_ _5"/> than USD<span class="_ _5"/> are hedged using a la<span class="_ _5"/>yered model with a<span class="_ _5"/> 12-month horizon.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Significant<span class="_ _5"/> capital commitments or<span class="_ _5"/> divestments in curr<span class="_ _5"/>encies other <span class="_ _5"/>than USD ar<span class="_ _5"/>e hedged.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _7e"> </span><span class="ws0">Most non-USD debt is hedged,<span class="_ _5"/> however<span class="_ _0"/>, depending on <span class="_ _5"/>the asset-liability<span class="_ _5"/> match and <span class="_ _5"/>the currency<span class="_ _5"/> of the gener<span class="_ _5"/>ated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash flo<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency<span class="_ _5"/> derivatives hedge futur<span class="_ _5"/>e rev<span class="_ _5"/>enue, oper<span class="_ _5"/>ating costs and inv<span class="_ _5"/>estments/<span class="_ _5"/>divestments,<span class="_ _5"/> and are r<span class="_ _5"/>ecognised on an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing basis in the income statement<span class="_ _5"/> and the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>,<span class="_ _5"/> plant and equipment,<span class="_ _5"/> respectivel<span class="_ _5"/>y<span class="_ _5"/>.<span class="_ _5"/> Ther<span class="_ _5"/>e is not any<span class="_ _5"/> proxy<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging for<span class="_ _5"/> the curr<span class="_ _5"/>ency risk hedging,<span class="_ _5"/> and theref<span class="_ _5"/>ore <span class="_ _5"/>the economic relationship between <span class="_ _5"/>the hedged exposure and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedge is high. E<span class="_ _5"/>ffectiveness is assessed using the critical <span class="_ _5"/>terms match<span class="_ _5"/> approach accor<span class="_ _5"/>ding to IFRS 9<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Hedges of future rev<span class="_ _5"/>enue and operating costs matur<span class="_ _5"/>es within a <span class="_ _5"/>year<span class="_ _5"/> (matures within<span class="_ _5"/> a year).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>For<span class="_ _5"/> hedges r<span class="_ _5"/>elated to oper<span class="_ _5"/>ating and inv<span class="_ _5"/>estment cash flows<span class="_ _5"/>, a loss of USD<span class="_ _5"/> 127m in<span class="_ _5"/> 2024 (loss of USD 8m) is r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in <span class="_ _5"/>other compr<span class="_ _5"/>ehensive income,<span class="_ _5"/> and the cash flow hedg<span class="_ _5"/>e reserve amounts <span class="_ _5"/>to a loss of USD 84m<span class="_ _5"/> at 31 December<span class="_ _5"/> (gain of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 43m). For<span class="_ _5"/> hedges where <span class="_ _5"/>the cost of hedging is applied,<span class="_ _5"/> the f<span class="_ _5"/>orward points ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in other<span class="_ _5"/> comprehensive in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come and tr<span class="_ _5"/>ansferr<span class="_ _5"/>ed with the eff<span class="_ _5"/>ective hedge when <span class="_ _5"/>the hedged tr<span class="_ _5"/>ansaction occurs.<span class="_ _5"/> The cost<span class="_ _5"/> of hedging reserve amoun<span class="_ _5"/>ts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 0m (USD<span class="_ _5"/> 0m). <span class="_ _5"/>There w<span class="_ _5"/>as no ineffectiveness in 202<span class="_ _5"/>4 (no ineffectiveness).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Besides the designated cash flow hedges in <span class="_ _5"/>the table,<span class="_ _5"/> the Gr<span class="_ _5"/>oup uses derivatives <span class="_ _5"/>to hedge curr<span class="_ _5"/>ency exposur<span class="_ _5"/>es that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting.<span class="_ _5"/> These deriv<span class="_ _5"/>atives are classified as f<span class="_ _5"/>air <span class="_ _5"/>value <span class="_ _5"/>through pro<span class="_ _5"/>fit or<span class="_ _5"/> loss.<span class="_ _5"/> The av<span class="_ _5"/>erage FX </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedge r<span class="_ _5"/>ates for<span class="_ _5"/> swaps in cash<span class="_ _5"/> flow hedge wer<span class="_ _5"/>e EUR/USD 1.<span class="_ _5"/>13 (1.<span class="_ _0"/>18) and GBP/USD 1.52 (1.52).<span class="_ _5"/> <span class="_ _5"/>The aver<span class="_ _5"/>age FX hedge r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> swaps in combined f<span class="_ _5"/>air <span class="_ _5"/>value hedge <span class="_ _5"/>were EUR/USD 1.<span class="_ _0"/>18 (1.24),<span class="_ _5"/> GBP/USD 1.52 (1.52),<span class="_ _5"/> USD/NOK 8<span class="_ _5"/>.25 (8.25) and USD<span class="_ _5"/>/<span class="_ _5"/>JPY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">119.39 (119<span class="_ _5"/>.39).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue in the balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 381.675px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">137</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">333</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">323</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">225</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">72</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liabilities, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">509</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">247</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:282.578125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 223.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedge of oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating and investment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cash flows </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 266.125px; top: 0.0136718px; width: 50.5078px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue, </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 352.688px; top: 0.0136718px; width: 50.5078px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue, </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 532.125px; top: 0.0136718px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 95.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">in for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign currencies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 290.062px; top: 12.0137px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">asset</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 435.047px; top: 12.0137px; width: 51.9082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 519.5px; top: 12.0137px; width: 50.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 438.562px; top: 24.0137px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">derivative</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.7012px; width: 105.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Main currencies hedged</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.133px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,006</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EUR/USD 1.08</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">247</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/DKK 6.84</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 107.498px; width: 19.166px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 108.248px; width: 261.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">239</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.9512px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> USD/CNY 7.12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 19.125px; top: 123.039px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 18.5332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">BRL</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 123.17px; width: 259.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/BRL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 5.85</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 569.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> currencies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.836px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,362</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">N</span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/A</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 152.951px; width: 399.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 182.732px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 197.623px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,017</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EUR/USD 1.10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.514px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">286</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/DKK 6.76</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 227.404px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">249</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.0391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 7.04</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 19.125px; top: 242.18px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 242.295px; width: 18.5332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">BRL</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 242.311px; width: 261.627px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/BRL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 5.07</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 76.9844px; top: 257.086px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.201px; width: 77.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> currencies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 257.201px; width: 267.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,235</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">N</span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/A</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 272.092px; width: 399.82px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>HKD is replaced b<span class="_ _5"/>y BRL<span class="_ _5"/> as one of the main currencies in<span class="_ _5"/> 2024.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>2023 figures are restated <span class="_ _5"/>to reflect<span class="_ _5"/> replacement<span class="_ _5"/> of HKD by BRL.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 479.438px; top: 0.0136718px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges recognised a</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and loss</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.592px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 452.726px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to an incr<span class="_ _5"/>ease in the USD ex<span class="_ _5"/>change ra<span class="_ _5"/>te of 10% against al<span class="_ _5"/>l other significant<span class="_ _5"/> currencies <span class="_ _5"/>to which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group is exposed is estimat<span class="_ _5"/>ed to hav<span class="_ _5"/>e the fol<span class="_ _5"/>lowing symmetrical impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _5"/>y on the impact<span class="_ _5"/> of financial instruments tha<span class="_ _5"/>t are outstanding a<span class="_ _5"/>t the balance sheet<span class="_ _5"/> date </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _5"/>thus not an expr<span class="_ _5"/>ession of the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s total curr<span class="_ _5"/>ency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 310.609px; top: 0.0136718px; width: 231.938px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Equity befor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sensitivity for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial instruments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-45</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-145</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:654.21875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 81.5039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rate risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 333.609px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 145.969px; top: 49.3574px; width: 19.9277px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 198.484px; top: 49.3574px; width: 19.9277px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 225.391px; top: 49.3574px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 277.016px; top: 49.373px; width: 194.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.6367px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 7.93357px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gain/loss </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.734px; top: 49.373px; width: 45.3984px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gain/loss </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 534.469px; top: 49.3887px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 134.828px; top: 61.3574px; width: 30.9492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 185.422px; top: 61.3574px; width: 30.9492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 229.125px; top: 61.3574px; width: 39.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 457.969px; top: 61.373px; width: 14.3555px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 508.906px; top: 61.373px; width: 14.1504px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">on </span><span style="word-spacing: 0.0735px; letter-spacing: -0.0735px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.391px; top: 61.3887px; width: 31.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 139.031px; top: 73.3574px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">asset</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 180.625px; top: 73.3574px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 255.969px; top: 73.3574px; width: 12.416px; white-space: pre; word-spacing: 0.021px; letter-spacing: -0.021px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of </span><span style="word-spacing: 0.021px; letter-spacing: -0.021px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 435.047px; top: 73.373px; width: 37.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedged </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 482.406px; top: 73.373px; width: 40.3008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedging </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 552.531px; top: 73.3887px; width: 18.4922px; white-space: pre; word-spacing: 0.3255px; letter-spacing: -0.3255px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rat</span><span style="word-spacing: 0.3255px; letter-spacing: -0.3255px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.3574px; width: 103.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate hedging </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 232.062px; top: 85.373px; width: 33.2227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">deriva-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 447.969px; top: 85.373px; width: 21.498px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">item</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 85.373px; width: 31.9336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">instru-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 65.8711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 247.469px; top: 97.373px; width: 17.4727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tive</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 496.094px; top: 97.373px; width: 24.9727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.061px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 136.951px; width: 122.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Combined fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.951px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.842px; width: 572.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">112</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">737</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">392</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">345</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 178.732px; width: 572.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.623px; width: 572.133px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">JPY</span><span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.2%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 208.514px; width: 572.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">NOK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 238.295px; width: 79.8223px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value hedge, </span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 250.295px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 265.186px; width: 571.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">400</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">250</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.8%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 294.982px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flow hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 306.982px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 324.795px; width: 571.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">392</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,306</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 339.686px; width: 572.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 354.576px; width: 571.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.8%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 369.467px; width: 520.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.035px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.3692px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,642</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">337</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,404</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,901</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-93</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 399.248px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 414.139px; width: 122.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Combined fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 426.139px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 441.029px; width: 572.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">503</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">415</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.3%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 455.92px; width: 572.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 470.811px; width: 572.074px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">JPY</span><span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.2%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 485.701px; width: 571.564px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">NOK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">68</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 515.482px; width: 79.8223px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value hedge, </span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 527.482px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 542.373px; width: 571.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">850</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.7%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 572.17px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flow hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 584.17px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 599.061px; width: 571.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">967</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">414</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">553</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 613.951px; width: 571.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 628.842px; width: 571.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 643.732px; width: 520.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,614</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,325</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-119</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has most<span class="_ _5"/> of its debt denominated in<span class="_ _5"/> USD,<span class="_ _5"/> but part of <span class="_ _5"/>the debt (e.g.<span class="_ _5"/> issued bonds) is in other<span class="_ _5"/> currencies such<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EUR, GBP<span class="_ _f"/>, NOK and JP<span class="_ _5"/>Y<span class="_ _0"/>. The Gr<span class="_ _5"/>oup strives t<span class="_ _5"/>o maintain a combination of fixed and floa<span class="_ _5"/>ting interest<span class="_ _5"/> rat<span class="_ _5"/>es on its net debt,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reflecting expecta<span class="_ _5"/>tions and risks. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inter<span class="_ _5"/>est r<span class="_ _5"/>ate risk is managed <span class="_ _5"/>within a rang<span class="_ _5"/>e set for<span class="_ _5"/> the per<span class="_ _5"/>centage of gr<span class="_ _5"/>oss debt carrying fixed int<span class="_ _5"/>erest,<span class="_ _5"/> net of hedging.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The level at<span class="_ _5"/> 31 December 202<span class="_ _5"/>4 is 51% (41%), e<span class="_ _5"/>xcluding IFRS 16 Leases.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A g<span class="_ _5"/>eneral incr<span class="_ _5"/>ease in interest<span class="_ _5"/> r<span class="_ _5"/>ates by 1 per<span class="_ _5"/>centage point<span class="_ _5"/> is estimated,<span class="_ _5"/> all else being equal, <span class="_ _5"/>to affect<span class="_ _5"/> profit<span class="_ _5"/> before <span class="_ _5"/>tax and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity<span class="_ _5"/>,<span class="_ _5"/> excluding tax eff<span class="_ _5"/>ect, positivel<span class="_ _5"/>y by<span class="_ _5"/> approx.<span class="_ _5"/> USD 161m (positivel<span class="_ _5"/>y by<span class="_ _5"/> USD 134m) and positively<span class="_ _5"/> by appr<span class="_ _5"/>ox. USD<span class="_ _5"/> 121m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(positively<span class="_ _5"/> by USD 113m),<span class="_ _5"/> respectiv<span class="_ _5"/>ely<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>This analy<span class="_ _5"/>sis assumes that al<span class="_ _5"/>l other<span class="_ _5"/> variables,<span class="_ _5"/> in particular<span class="_ _5"/> for<span class="_ _5"/>eign currency<span class="_ _5"/> rat<span class="_ _5"/>es, r<span class="_ _5"/>emain constant.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The hedging of <span class="_ _5"/>the interest<span class="_ _5"/> rat<span class="_ _5"/>e risk is done by cr<span class="_ _5"/>oss-currency<span class="_ _5"/> swaps and inter<span class="_ _5"/>est r<span class="_ _5"/>ate swaps<span class="_ _5"/>. <span class="_ _5"/>The hedging is a mix of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair v<span class="_ _5"/>alue hedging, combined fair<span class="_ _5"/> <span class="_ _5"/>value hedging and cash flow hedging.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Combined fair<span class="_ _5"/> <span class="_ _5"/>value hedging is applied when cr<span class="_ _5"/>oss-currency s<span class="_ _5"/>waps are ent<span class="_ _5"/>ered into <span class="_ _5"/>to hedge <span class="_ _5"/>the risk of debt denomi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nated in curr<span class="_ _5"/>encies other <span class="_ _5"/>than USD.<span class="_ _5"/> Each hedg<span class="_ _5"/>e relationship is split<span class="_ _5"/> into a fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge (fixed t<span class="_ _5"/>o floating inter<span class="_ _5"/>est r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">swap), whe<span class="_ _8"/>re value c<span class="_ _8"/>hange<span class="_ _8"/>s from <span class="_ _8"/>market r<span class="_ _5"/>ates ar<span class="_ _5"/>e recognised dir<span class="_ _5"/>ectly<span class="_ _5"/> in profit<span class="_ _5"/> or loss<span class="_ _5"/>, and a cash flo<span class="_ _5"/>w hedge,<span class="_ _5"/> where <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value changes fr<span class="_ _5"/>om the ex<span class="_ _5"/>change rat<span class="_ _5"/>e exposure of <span class="_ _5"/>the credit mar<span class="_ _5"/>gin are r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>ehensive income.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Ineffectiveness from cash flow hedg<span class="_ _5"/>es due to buy<span class="_ _5"/>-back of issued bonds is reco<span class="_ _5"/>gnised in the income stat<span class="_ _5"/>ement with<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a cost of USD<span class="_ _5"/> 0m (USD 1m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The hedges ar<span class="_ _5"/>e expected t<span class="_ _5"/>o be highly eff<span class="_ _5"/>ective due to <span class="_ _5"/>the nature of <span class="_ _5"/>the economic relationship between<span class="_ _5"/> the exposur<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the hedge<span class="_ _5"/>. <span class="_ _5"/>The source of ineff<span class="_ _5"/>ectiveness is the cr<span class="_ _5"/>edit risk of the hedging instruments<span class="_ _5"/>. For<span class="_ _5"/> hedges <span class="_ _5"/>where the cost<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging is applied, <span class="_ _5"/>the change in basis spread is r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>ehensive income and is a time eff<span class="_ _5"/>ect during the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lifetime of the s<span class="_ _5"/>wap and at maturity<span class="_ _5"/> amounts t<span class="_ _5"/>o 0.<span class="_ _5"/> If the hedged <span class="_ _5"/>transaction is pr<span class="_ _5"/>epaid, <span class="_ _5"/>the change in basis spr<span class="_ _5"/>ead will be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in profit<span class="_ _5"/> or loss as ineff<span class="_ _5"/>ectiveness.<span class="_ _5"/> The cost<span class="_ _5"/> of hedging reserve amounts <span class="_ _5"/>to USD 0m (g<span class="_ _5"/>ain of USD 7<span class="_ _5"/>m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:322.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 224.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings and lease liabilities b</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 0.0136718px; width: 41.6309px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.484px; top: 0.0136718px; width: 111.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Next int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate fixing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 174.539px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">levels inclusive of int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate sw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aps</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 19.6855px; width: 192.381px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.3574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 59.248px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,370</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">544</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">547</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.1387px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,428</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,533</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,762</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 89.0137px; width: 570.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6%-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,679</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,830</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,692</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,157</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.904px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,507</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,466</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 133.701px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.592px; width: 340.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing fixed inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,120</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.482px; width: 339.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing floating inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,357</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.264px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 208.154px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">981</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">252</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">606</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 223.045px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,952</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,830</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,732</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 237.936px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6%-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,881</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,709</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">605</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">567</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.826px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,351</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,905</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 282.607px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 297.498px; width: 340.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing fixed inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,377</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 312.389px; width: 339.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing floating inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,437</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:376.5625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 60px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil price risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 400.266px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 49.3574px; width: 46.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Quantity, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 198.781px; top: 49.3574px; width: 67.418px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e trade </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 49.3574px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 49.3574px; width: 197.83px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3 months</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.9512px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4-12 months</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 61.3574px; width: 46.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">thousand </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 61.3574px; width: 43.2129px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">price per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 61.3574px; width: 39.75px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">dura</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 186.641px; top: 73.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 121.734px; top: 73.3574px; width: 65.4375px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">metric tonnes</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 203.109px; top: 73.3574px; width: 60.6211px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">metric tonne</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 98.0293px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.92px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil swaps</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,221</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.295px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.811px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">456</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.033px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">485</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 172.498px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil futures</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.352px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-284 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.352px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.352px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 187.373px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 26 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">524</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 202.264px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-310 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 217.154px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,505 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 246.951px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 261.842px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil swaps</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,121 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.7127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 276.717px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 12,365 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">480</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-231</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-27</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 291.607px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13,486 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">519</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.404px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil futures</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.352px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-177 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 336.295px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">380</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 351.186px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">639</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 366.076px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,298 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In 2024,<span class="_ _5"/> the quantity<span class="_ _5"/> presentation <span class="_ _5"/>was changed from<span class="_ _5"/> million metric tonnes <span class="_ _5"/>to thousand metric <span class="_ _5"/>tonnes.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The majority of <span class="_ _5"/>the Group’<span class="_ _5"/>s tr<span class="_ _5"/>ading of commodity pr<span class="_ _5"/>oducts is relat<span class="_ _5"/>ed to inv<span class="_ _5"/>entory stocks o<span class="_ _5"/>f crude oil and bunker<span class="_ _5"/> oil, as <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">products ar<span class="_ _5"/>e bought in lar<span class="_ _5"/>ger<span class="_ _5"/> quantities and stored f<span class="_ _5"/>or pr<span class="_ _5"/>ocessing and re-sale<span class="_ _5"/>. <span class="_ _5"/>The oil price risk arising from <span class="_ _5"/>these oil price </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposures is mitig<span class="_ _5"/>ated by en<span class="_ _5"/>tering into commodity<span class="_ _5"/> derivative agr<span class="_ _5"/>eements.<span class="_ _5"/> The over<span class="_ _5"/>all exposur<span class="_ _5"/>e limit is set<span class="_ _5"/> in the Gr<span class="_ _5"/>oup’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">risk policy<span class="_ _5"/>,<span class="_ _5"/> defining a maximum net open position<span class="_ _5"/> for<span class="_ _5"/> the Group<span class="_ _5"/>. On 31 December<span class="_ _5"/> 202<span class="_ _5"/>4,<span class="_ _5"/> the Group ent<span class="_ _5"/>ered into oil deriv<span class="_ _5"/>ative </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">positions as shown in <span class="_ _5"/>the table.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to a 5% change in <span class="_ _5"/>the oil price,<span class="_ _5"/> all else being equal is estimated <span class="_ _5"/>to have a s<span class="_ _5"/>ymmetrical impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with immaterial diff<span class="_ _5"/>erence on pr<span class="_ _5"/>ofit and equity bef<span class="_ _5"/>ore <span class="_ _5"/>tax negativel<span class="_ _5"/>y by<span class="_ _5"/> approx.<span class="_ _5"/> USD 31m (USD 2<span class="_ _5"/>4m) with an incr<span class="_ _5"/>ease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and decrease leading <span class="_ _5"/>to a positive impact<span class="_ _5"/> of the same magnitude.<span class="_ _5"/> The sensitivities ar<span class="_ _5"/>e based on the impact<span class="_ _5"/> of financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instruments that<span class="_ _5"/> are outstanding at<span class="_ _5"/> the balance sheet<span class="_ _5"/> dat<span class="_ _5"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.5 <span class="_"> </span>Financial instrument<span class="_ _5"/>s and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The gain/losses of the deriv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">atives are r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised as f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ollows:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the cost of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ffective hedging</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ineffectiveness r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.014px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eclassified from equity r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 199.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives accounted for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> as held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> trading:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> -129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es recognised dir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ectly in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil prices and freight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net gains/losses r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">175</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 444.581px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">190</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.5 <span class="_"> </span>Financial instrument<span class="_ _5"/>s and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The gain/losses of the deriv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">atives are r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised as f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ollows:</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.812px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">evenue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> ra</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedging foreign</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> exchange risk on </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the cost of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.941px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.076px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ffective hedging</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-86</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ineffectiveness r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised in financial expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.014px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eclassified from equity r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eserve for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 199.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives accounted for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> as held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> trading:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in financial income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">xpenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> -129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">154</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es recognised dir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ectly in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil prices and freight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> income/</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">costs</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Net gains/losses r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised directl</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">175</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 444.581px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">190</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Market risk is the risk <span class="_ _5"/>that chang<span class="_ _5"/>es in market<span class="_ _5"/> prices, such<span class="_ _5"/> as foreign e<span class="_ _5"/>xchange ra<span class="_ _5"/>tes and inter<span class="_ _5"/>est r<span class="_ _5"/>ates,<span class="_ _5"/> will affect<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _5"/>s profit<span class="_ _5"/> or<span class="_ _5"/> the v<span class="_ _5"/>alue of its holdings of financial instruments.<span class="_ _5"/> <span class="_ _5"/>The sensitivity analyses in <span class="_ _5"/>the currency<span class="_ _5"/> risk and interest<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _5"/>te risk sections relate <span class="_ _5"/>to the position<span class="_ _5"/> of financial instruments at 31 December<span class="_ _5"/> 202<span class="_ _5"/>4.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The sensitivity analyses for<span class="_ _5"/> currency<span class="_ _5"/> risk and inter<span class="_ _5"/>est r<span class="_ _5"/>ate risk have been pr<span class="_ _5"/>epared on <span class="_ _5"/>the basis that<span class="_ _5"/> the amount<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net debt,<span class="_ _5"/> the r<span class="_ _5"/>atio of fixed <span class="_ _5"/>to floating inter<span class="_ _5"/>est r<span class="_ _5"/>ates of the debt<span class="_ _5"/> and the pr<span class="_ _5"/>oportion of financial instruments in for<span class="_ _5"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies r<span class="_ _5"/>emain unchanged from<span class="_ _5"/> hedge designations in place at<span class="_ _5"/> 31 December 202<span class="_ _5"/>4.<span class="_ _5"/> Furthermore<span class="_ _5"/>, it<span class="_ _5"/> is assumed that <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exchange r<span class="_ _5"/>ate and inter<span class="_ _5"/>est r<span class="_ _5"/>ate sensitivities hav<span class="_ _5"/>e a symmetric impact,<span class="_ _5"/> i.e.<span class="_ _5"/> an increase in r<span class="_ _5"/>ates r<span class="_ _5"/>esults in <span class="_ _5"/>the same absolute </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">movement<span class="_ _5"/> as a decrease in r<span class="_ _5"/>ates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The sensitivity analyses show the e<span class="_ _5"/>ffect on pr<span class="_ _5"/>ofit and equity<span class="_ _5"/> of a reasonabl<span class="_ _5"/>y possible change in ex<span class="_ _5"/>change rat<span class="_ _5"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">interest<span class="_ _5"/> rates<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Hedges comprise primarily currency<span class="_ _5"/> derivativ<span class="_ _5"/>es and interest<span class="_ _5"/> rat<span class="_ _5"/>e derivatives,<span class="_ _5"/> which ar<span class="_ _5"/>e further<span class="_ _5"/> described in the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">followi<span class="_ _8"/>ng sections.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s currency<span class="_ _5"/> risk relat<span class="_ _5"/>es to <span class="_ _5"/>the fact <span class="_ _5"/>that while income fr<span class="_ _5"/>om Ocean activities is denominat<span class="_ _5"/>ed mainly in USD<span class="_ _5"/>, <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _5"/>ed expenses are incurr<span class="_ _5"/>ed in both USD and a wide r<span class="_ _5"/>ange of other<span class="_ _5"/> currencies such<span class="_ _5"/> as EUR, DKK,<span class="_ _5"/> CNY and BRL.<span class="_ _5"/> <span class="_ _5"/>As the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is in USD,<span class="_ _5"/> this is also <span class="_ _5"/>the primary financing curr<span class="_ _5"/>ency<span class="_ _5"/>. Income and e<span class="_ _5"/>xpenses from other<span class="_ _5"/> activities including <span class="_ _5"/>T<span class="_ _5"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are mainl<span class="_ _5"/>y denominated in local curr<span class="_ _5"/>encies,<span class="_ _5"/> thus reducing <span class="_ _5"/>the Group’<span class="_ _5"/>s exposur<span class="_ _5"/>e to <span class="_ _5"/>these currencies.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The main purpose of hedging the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s currency<span class="_ _5"/> risk is to hedge <span class="_ _5"/>the USD v<span class="_ _5"/>alue of the Gr<span class="_ _5"/>oup’s net<span class="_ _5"/> cash flow and reduce </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fluctuations in the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s profit.<span class="_ _5"/> The Gr<span class="_ _5"/>oup uses v<span class="_ _5"/>arious financial derivatives,<span class="_ _5"/> including forw<span class="_ _5"/>ards,<span class="_ _5"/> option contr<span class="_ _5"/>acts and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cross-curr<span class="_ _5"/>ency swaps<span class="_ _5"/>, <span class="_ _5"/>to hedge these risks<span class="_ _5"/>. <span class="_ _5"/>The ke<span class="_ _5"/>y aspects of the curr<span class="_ _5"/>ency hedging policy<span class="_ _5"/> are:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Net<span class="_ _5"/> cash flows in significant<span class="_ _5"/> currencies other<span class="_ _5"/> than USD<span class="_ _5"/> are hedged using a la<span class="_ _5"/>yered model with a<span class="_ _5"/> 12-month horizon.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _5d"> </span>Significant<span class="_ _5"/> capital commitments or<span class="_ _5"/> divestments in curr<span class="_ _5"/>encies other <span class="_ _5"/>than USD ar<span class="_ _5"/>e hedged.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _7e"> </span><span class="ws0">Most non-USD debt is hedged,<span class="_ _5"/> however<span class="_ _0"/>, depending on <span class="_ _5"/>the asset-liability<span class="_ _5"/> match and <span class="_ _5"/>the currency<span class="_ _5"/> of the gener<span class="_ _5"/>ated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash flo<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency<span class="_ _5"/> derivatives hedge futur<span class="_ _5"/>e rev<span class="_ _5"/>enue, oper<span class="_ _5"/>ating costs and inv<span class="_ _5"/>estments/<span class="_ _5"/>divestments,<span class="_ _5"/> and are r<span class="_ _5"/>ecognised on an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing basis in the income statement<span class="_ _5"/> and the cost of pr<span class="_ _5"/>operty<span class="_ _5"/>,<span class="_ _5"/> plant and equipment,<span class="_ _5"/> respectivel<span class="_ _5"/>y<span class="_ _5"/>.<span class="_ _5"/> Ther<span class="_ _5"/>e is not any<span class="_ _5"/> proxy<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging for<span class="_ _5"/> the curr<span class="_ _5"/>ency risk hedging,<span class="_ _5"/> and theref<span class="_ _5"/>ore <span class="_ _5"/>the economic relationship between <span class="_ _5"/>the hedged exposure and <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedge is high. E<span class="_ _5"/>ffectiveness is assessed using the critical <span class="_ _5"/>terms match<span class="_ _5"/> approach accor<span class="_ _5"/>ding to IFRS 9<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Hedges of future rev<span class="_ _5"/>enue and operating costs matur<span class="_ _5"/>es within a <span class="_ _5"/>year<span class="_ _5"/> (matures within<span class="_ _5"/> a year).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>For<span class="_ _5"/> hedges r<span class="_ _5"/>elated to oper<span class="_ _5"/>ating and inv<span class="_ _5"/>estment cash flows<span class="_ _5"/>, a loss of USD<span class="_ _5"/> 127m in<span class="_ _5"/> 2024 (loss of USD 8m) is r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in <span class="_ _5"/>other compr<span class="_ _5"/>ehensive income,<span class="_ _5"/> and the cash flow hedg<span class="_ _5"/>e reserve amounts <span class="_ _5"/>to a loss of USD 84m<span class="_ _5"/> at 31 December<span class="_ _5"/> (gain of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 43m). For<span class="_ _5"/> hedges where <span class="_ _5"/>the cost of hedging is applied,<span class="_ _5"/> the f<span class="_ _5"/>orward points ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in other<span class="_ _5"/> comprehensive in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come and tr<span class="_ _5"/>ansferr<span class="_ _5"/>ed with the eff<span class="_ _5"/>ective hedge when <span class="_ _5"/>the hedged tr<span class="_ _5"/>ansaction occurs.<span class="_ _5"/> The cost<span class="_ _5"/> of hedging reserve amoun<span class="_ _5"/>ts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 0m (USD<span class="_ _5"/> 0m). <span class="_ _5"/>There w<span class="_ _5"/>as no ineffectiveness in 202<span class="_ _5"/>4 (no ineffectiveness).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Besides the designated cash flow hedges in <span class="_ _5"/>the table,<span class="_ _5"/> the Gr<span class="_ _5"/>oup uses derivatives <span class="_ _5"/>to hedge curr<span class="_ _5"/>ency exposur<span class="_ _5"/>es that<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting.<span class="_ _5"/> These deriv<span class="_ _5"/>atives are classified as f<span class="_ _5"/>air <span class="_ _5"/>value <span class="_ _5"/>through pro<span class="_ _5"/>fit or<span class="_ _5"/> loss.<span class="_ _5"/> The av<span class="_ _5"/>erage FX </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedge r<span class="_ _5"/>ates for<span class="_ _5"/> swaps in cash<span class="_ _5"/> flow hedge wer<span class="_ _5"/>e EUR/USD 1.<span class="_ _5"/>13 (1.<span class="_ _0"/>18) and GBP/USD 1.52 (1.52).<span class="_ _5"/> <span class="_ _5"/>The aver<span class="_ _5"/>age FX hedge r<span class="_ _5"/>ates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> swaps in combined f<span class="_ _5"/>air <span class="_ _5"/>value hedge <span class="_ _5"/>were EUR/USD 1.<span class="_ _0"/>18 (1.24),<span class="_ _5"/> GBP/USD 1.52 (1.52),<span class="_ _5"/> USD/NOK 8<span class="_ _5"/>.25 (8.25) and USD<span class="_ _5"/>/<span class="_ _5"/>JPY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">119.39 (119<span class="_ _5"/>.39).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivatives r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue in the balance sheet</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 381.675px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">137</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.865px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">333</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">323</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">225</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">72</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 570.035px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Liabilities, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.24px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">509</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">247</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:282.578125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 223.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hedge of oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating and investment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> cash flows </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 266.125px; top: 0.0136718px; width: 50.5078px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue, </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 352.688px; top: 0.0136718px; width: 50.5078px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue, </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 444.969px; top: 0.0136718px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 532.125px; top: 0.0136718px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 95.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">in for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eign currencies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 290.062px; top: 12.0137px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">asset</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 365px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 435.047px; top: 12.0137px; width: 51.9082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 519.5px; top: 12.0137px; width: 50.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 438.562px; top: 24.0137px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">derivative</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.7012px; width: 105.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Main currencies hedged</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.133px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,006</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EUR/USD 1.08</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 569.602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">247</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/DKK 6.84</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 107.498px; width: 19.166px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 108.248px; width: 261.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">239</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.9512px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> USD/CNY 7.12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 19.125px; top: 123.039px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 18.5332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">BRL</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 123.17px; width: 259.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">223</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/BRL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 5.85</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 569.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> currencies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.836px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,362</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">N</span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/A</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 152.951px; width: 399.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 182.732px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 197.623px; width: 569.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,017</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.1602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">EUR/USD 1.10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 212.514px; width: 569.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">286</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.75px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/DKK 6.76</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 227.404px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.82px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">249</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.0391px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 7.04</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 19.125px; top: 242.18px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 242.295px; width: 18.5332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">BRL</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 308.188px; top: 242.311px; width: 261.627px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">77</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD/BRL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 5.07</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 76.9844px; top: 257.086px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.201px; width: 77.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> currencies</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 257.201px; width: 267.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,235</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">N</span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">/A</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 272.092px; width: 399.82px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>HKD is replaced b<span class="_ _5"/>y BRL<span class="_ _5"/> as one of the main currencies in<span class="_ _5"/> 2024.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>2023 figures are restated <span class="_ _5"/>to reflect<span class="_ _5"/> replacement<span class="_ _5"/> of HKD by BRL.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 479.438px; top: 0.0136718px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> hedges recognised a</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough profit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and loss</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.592px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> derivatives</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 385.178px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 570.064px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 452.726px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">43</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to an incr<span class="_ _5"/>ease in the USD ex<span class="_ _5"/>change ra<span class="_ _5"/>te of 10% against al<span class="_ _5"/>l other significant<span class="_ _5"/> currencies <span class="_ _5"/>to which <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group is exposed is estimat<span class="_ _5"/>ed to hav<span class="_ _5"/>e the fol<span class="_ _5"/>lowing symmetrical impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _5"/>y on the impact<span class="_ _5"/> of financial instruments tha<span class="_ _5"/>t are outstanding a<span class="_ _5"/>t the balance sheet<span class="_ _5"/> date </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _5"/>thus not an expr<span class="_ _5"/>ession of the Gr<span class="_ _5"/>oup’<span class="_ _5"/>s total curr<span class="_ _5"/>ency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.40625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 310.609px; top: 0.0136718px; width: 231.938px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> before tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Equity befor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Currency</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sensitivity for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> financial instruments</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3029px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">63</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-50</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">CNY</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 308.057px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-45</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-138</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-145</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:654.21875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 81.5039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> rate risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 333.609px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 145.969px; top: 49.3574px; width: 19.9277px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 198.484px; top: 49.3574px; width: 19.9277px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 225.391px; top: 49.3574px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nominal </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 277.016px; top: 49.373px; width: 194.438px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.6367px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.22268px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 7.93357px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gain/loss </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.734px; top: 49.373px; width: 45.3984px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gain/loss </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 534.469px; top: 49.3887px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 134.828px; top: 61.3574px; width: 30.9492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 185.422px; top: 61.3574px; width: 30.9492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 229.125px; top: 61.3574px; width: 39.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 457.969px; top: 61.373px; width: 14.3555px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">on </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 508.906px; top: 61.373px; width: 14.1504px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">on </span><span style="word-spacing: 0.0735px; letter-spacing: -0.0735px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 543.391px; top: 61.3887px; width: 31.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 139.031px; top: 73.3574px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">asset</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 180.625px; top: 73.3574px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liability</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 255.969px; top: 73.3574px; width: 12.416px; white-space: pre; word-spacing: 0.021px; letter-spacing: -0.021px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of </span><span style="word-spacing: 0.021px; letter-spacing: -0.021px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 435.047px; top: 73.373px; width: 37.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedged </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 482.406px; top: 73.373px; width: 40.3008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedging </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 552.531px; top: 73.3887px; width: 18.4922px; white-space: pre; word-spacing: 0.3255px; letter-spacing: -0.3255px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">rat</span><span style="word-spacing: 0.3255px; letter-spacing: -0.3255px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 85.3574px; width: 103.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate hedging </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 232.062px; top: 85.373px; width: 33.2227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">deriva-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 447.969px; top: 85.373px; width: 21.498px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">item</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 85.373px; width: 31.9336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">instru-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 97.3574px; width: 65.8711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">of borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 247.469px; top: 97.373px; width: 17.4727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">tive</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 496.094px; top: 97.373px; width: 24.9727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">ment</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 122.061px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 136.951px; width: 122.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Combined fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.951px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.842px; width: 572.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">112</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">737</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">392</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">345</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-14</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 178.732px; width: 572.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.623px; width: 572.133px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">JPY</span><span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.2%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 208.514px; width: 572.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">NOK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">194</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7596px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 238.295px; width: 79.8223px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value hedge, </span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 250.295px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 265.186px; width: 571.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">400</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">250</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6.8%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 294.982px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flow hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 306.982px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 324.795px; width: 571.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.3554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">120</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.957px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">392</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,306</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 339.686px; width: 572.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">160</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 354.576px; width: 571.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">36</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.8%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 369.467px; width: 520.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.035px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.3692px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,642</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">337</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,404</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,901</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-93</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 399.248px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 414.139px; width: 122.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Combined fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 426.139px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 441.029px; width: 572.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">503</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">415</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.3%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 455.92px; width: 572.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">89</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-6</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 470.811px; width: 572.074px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">JPY</span><span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"><span style="width: 2.56641px; display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.2%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 485.701px; width: 571.564px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">NOK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">68</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.9%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 515.482px; width: 79.8223px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value hedge, </span><span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 527.482px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 542.373px; width: 571.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">850</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">200</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7.7%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 572.17px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash flow hedge, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 584.17px; width: 90.0469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">hedge of</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> borrowings</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 599.061px; width: 571.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">EUR</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">967</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">414</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">553</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.8672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3.2%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 613.951px; width: 571.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">GBP</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.9688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">162</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 628.842px; width: 571.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">USD</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.6%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 643.732px; width: 520.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">364</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,614</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,325</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">61</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.4219px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-119</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has most<span class="_ _5"/> of its debt denominated in<span class="_ _5"/> USD,<span class="_ _5"/> but part of <span class="_ _5"/>the debt (e.g.<span class="_ _5"/> issued bonds) is in other<span class="_ _5"/> currencies such<span class="_ _5"/> as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">EUR, GBP<span class="_ _f"/>, NOK and JP<span class="_ _5"/>Y<span class="_ _0"/>. The Gr<span class="_ _5"/>oup strives t<span class="_ _5"/>o maintain a combination of fixed and floa<span class="_ _5"/>ting interest<span class="_ _5"/> rat<span class="_ _5"/>es on its net debt,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reflecting expecta<span class="_ _5"/>tions and risks. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Inter<span class="_ _5"/>est r<span class="_ _5"/>ate risk is managed <span class="_ _5"/>within a rang<span class="_ _5"/>e set for<span class="_ _5"/> the per<span class="_ _5"/>centage of gr<span class="_ _5"/>oss debt carrying fixed int<span class="_ _5"/>erest,<span class="_ _5"/> net of hedging.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The level at<span class="_ _5"/> 31 December 202<span class="_ _5"/>4 is 51% (41%), e<span class="_ _5"/>xcluding IFRS 16 Leases.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A g<span class="_ _5"/>eneral incr<span class="_ _5"/>ease in interest<span class="_ _5"/> r<span class="_ _5"/>ates by 1 per<span class="_ _5"/>centage point<span class="_ _5"/> is estimated,<span class="_ _5"/> all else being equal, <span class="_ _5"/>to affect<span class="_ _5"/> profit<span class="_ _5"/> before <span class="_ _5"/>tax and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity<span class="_ _5"/>,<span class="_ _5"/> excluding tax eff<span class="_ _5"/>ect, positivel<span class="_ _5"/>y by<span class="_ _5"/> approx.<span class="_ _5"/> USD 161m (positivel<span class="_ _5"/>y by<span class="_ _5"/> USD 134m) and positively<span class="_ _5"/> by appr<span class="_ _5"/>ox. USD<span class="_ _5"/> 121m </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(positively<span class="_ _5"/> by USD 113m),<span class="_ _5"/> respectiv<span class="_ _5"/>ely<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>This analy<span class="_ _5"/>sis assumes that al<span class="_ _5"/>l other<span class="_ _5"/> variables,<span class="_ _5"/> in particular<span class="_ _5"/> for<span class="_ _5"/>eign currency<span class="_ _5"/> rat<span class="_ _5"/>es, r<span class="_ _5"/>emain constant.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The hedging of <span class="_ _5"/>the interest<span class="_ _5"/> rat<span class="_ _5"/>e risk is done by cr<span class="_ _5"/>oss-currency<span class="_ _5"/> swaps and inter<span class="_ _5"/>est r<span class="_ _5"/>ate swaps<span class="_ _5"/>. <span class="_ _5"/>The hedging is a mix of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair v<span class="_ _5"/>alue hedging, combined fair<span class="_ _5"/> <span class="_ _5"/>value hedging and cash flow hedging.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Combined fair<span class="_ _5"/> <span class="_ _5"/>value hedging is applied when cr<span class="_ _5"/>oss-currency s<span class="_ _5"/>waps are ent<span class="_ _5"/>ered into <span class="_ _5"/>to hedge <span class="_ _5"/>the risk of debt denomi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nated in curr<span class="_ _5"/>encies other <span class="_ _5"/>than USD.<span class="_ _5"/> Each hedg<span class="_ _5"/>e relationship is split<span class="_ _5"/> into a fair<span class="_ _5"/> v<span class="_ _5"/>alue hedge (fixed t<span class="_ _5"/>o floating inter<span class="_ _5"/>est r<span class="_ _5"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">swap), whe<span class="_ _8"/>re value c<span class="_ _8"/>hange<span class="_ _8"/>s from <span class="_ _8"/>market r<span class="_ _5"/>ates ar<span class="_ _5"/>e recognised dir<span class="_ _5"/>ectly<span class="_ _5"/> in profit<span class="_ _5"/> or loss<span class="_ _5"/>, and a cash flo<span class="_ _5"/>w hedge,<span class="_ _5"/> where <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value changes fr<span class="_ _5"/>om the ex<span class="_ _5"/>change rat<span class="_ _5"/>e exposure of <span class="_ _5"/>the credit mar<span class="_ _5"/>gin are r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>ehensive income.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Ineffectiveness from cash flow hedg<span class="_ _5"/>es due to buy<span class="_ _5"/>-back of issued bonds is reco<span class="_ _5"/>gnised in the income stat<span class="_ _5"/>ement with<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a cost of USD<span class="_ _5"/> 0m (USD 1m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The hedges ar<span class="_ _5"/>e expected t<span class="_ _5"/>o be highly eff<span class="_ _5"/>ective due to <span class="_ _5"/>the nature of <span class="_ _5"/>the economic relationship between<span class="_ _5"/> the exposur<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the hedge<span class="_ _5"/>. <span class="_ _5"/>The source of ineff<span class="_ _5"/>ectiveness is the cr<span class="_ _5"/>edit risk of the hedging instruments<span class="_ _5"/>. For<span class="_ _5"/> hedges <span class="_ _5"/>where the cost<span class="_ _5"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging is applied, <span class="_ _5"/>the change in basis spread is r<span class="_ _5"/>ecognised in other<span class="_ _5"/> compr<span class="_ _5"/>ehensive income and is a time eff<span class="_ _5"/>ect during the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lifetime of the s<span class="_ _5"/>wap and at maturity<span class="_ _5"/> amounts t<span class="_ _5"/>o 0.<span class="_ _5"/> If the hedged <span class="_ _5"/>transaction is pr<span class="_ _5"/>epaid, <span class="_ _5"/>the change in basis spr<span class="_ _5"/>ead will be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in profit<span class="_ _5"/> or loss as ineff<span class="_ _5"/>ectiveness.<span class="_ _5"/> The cost<span class="_ _5"/> of hedging reserve amounts <span class="_ _5"/>to USD 0m (g<span class="_ _5"/>ain of USD 7<span class="_ _5"/>m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:322.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 224.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Borrowings and lease liabilities b</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 0.0136718px; width: 41.6309px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 407.484px; top: 0.0136718px; width: 111.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Next int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate fixing</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 174.539px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">levels inclusive of int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate sw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aps</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">amount</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 376.406px; top: 19.6855px; width: 192.381px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1-5 years</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5- years</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 44.3574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 59.248px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,370</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">544</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">279</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">547</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.1387px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,428</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,133</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,533</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,762</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 89.0137px; width: 570.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6%-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,679</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,830</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,692</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,157</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.904px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,477</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,507</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,504</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,466</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 133.701px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.592px; width: 340.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing fixed inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,120</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 163.482px; width: 339.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing floating inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,357</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 193.264px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 208.154px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.518px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">981</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">252</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">606</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 223.045px; width: 569.941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3-6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.85px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,952</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,390</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,830</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,732</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 237.936px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6%-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.4px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,881</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,709</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">605</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">567</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.826px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,814</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,351</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,905</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 282.607px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 297.498px; width: 340.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing fixed inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,377</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 312.389px; width: 339.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bearing floating inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,437</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:376.5625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 60px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil price risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 400.266px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 49.3574px; width: 46.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Quantity, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 198.781px; top: 49.3574px; width: 67.418px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e trade </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 49.3574px; width: 39.7148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">verag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 371.484px; top: 49.3574px; width: 197.83px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> v</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">alue</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.9766px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-3 months</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.9512px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4-12 months</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.453px; top: 61.3574px; width: 46.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">thousand </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 221.797px; top: 61.3574px; width: 43.2129px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">price per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 299.766px; top: 61.3574px; width: 39.75px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">dura</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 186.641px; top: 73.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 121.734px; top: 73.3574px; width: 65.4375px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">metric tonnes</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 203.109px; top: 73.3574px; width: 60.6211px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">metric tonne</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 98.0293px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.92px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil swaps</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,221</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.295px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 127.811px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,885</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">456</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.033px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">123</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13,106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">485</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-122</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-113</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 172.498px; width: 569.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil futures</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.352px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-284 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.352px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.352px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 187.373px; width: 569.49px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 26 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">524</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">0</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 202.264px; width: 569.725px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-310 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">491</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 217.154px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,505 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 246.951px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 261.842px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil swaps</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,121 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.7127px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 276.717px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.508px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 12,365 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">480</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-231</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-204</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-27</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 291.607px; width: 569.871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-13,486 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">519</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">241</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">206</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.404px; width: 569.549px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Oil futures</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.352px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-177 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.695px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">0-1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 336.295px; width: 569.842px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Buy</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">380</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">633</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 351.186px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sell</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">639</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 366.076px; width: 569.426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-1,298 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.365px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In 2024,<span class="_ _5"/> the quantity<span class="_ _5"/> presentation <span class="_ _5"/>was changed from<span class="_ _5"/> million metric tonnes <span class="_ _5"/>to thousand metric <span class="_ _5"/>tonnes.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The majority of <span class="_ _5"/>the Group’<span class="_ _5"/>s tr<span class="_ _5"/>ading of commodity pr<span class="_ _5"/>oducts is relat<span class="_ _5"/>ed to inv<span class="_ _5"/>entory stocks o<span class="_ _5"/>f crude oil and bunker<span class="_ _5"/> oil, as <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">products ar<span class="_ _5"/>e bought in lar<span class="_ _5"/>ger<span class="_ _5"/> quantities and stored f<span class="_ _5"/>or pr<span class="_ _5"/>ocessing and re-sale<span class="_ _5"/>. <span class="_ _5"/>The oil price risk arising from <span class="_ _5"/>these oil price </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposures is mitig<span class="_ _5"/>ated by en<span class="_ _5"/>tering into commodity<span class="_ _5"/> derivative agr<span class="_ _5"/>eements.<span class="_ _5"/> The over<span class="_ _5"/>all exposur<span class="_ _5"/>e limit is set<span class="_ _5"/> in the Gr<span class="_ _5"/>oup’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">risk policy<span class="_ _5"/>,<span class="_ _5"/> defining a maximum net open position<span class="_ _5"/> for<span class="_ _5"/> the Group<span class="_ _5"/>. On 31 December<span class="_ _5"/> 202<span class="_ _5"/>4,<span class="_ _5"/> the Group ent<span class="_ _5"/>ered into oil deriv<span class="_ _5"/>ative </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">positions as shown in <span class="_ _5"/>the table.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s sensitivity <span class="_ _5"/>to a 5% change in <span class="_ _5"/>the oil price,<span class="_ _5"/> all else being equal is estimated <span class="_ _5"/>to have a s<span class="_ _5"/>ymmetrical impact </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with immaterial diff<span class="_ _5"/>erence on pr<span class="_ _5"/>ofit and equity bef<span class="_ _5"/>ore <span class="_ _5"/>tax negativel<span class="_ _5"/>y by<span class="_ _5"/> approx.<span class="_ _5"/> USD 31m (USD 2<span class="_ _5"/>4m) with an incr<span class="_ _5"/>ease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and decrease leading <span class="_ _5"/>to a positive impact<span class="_ _5"/> of the same magnitude.<span class="_ _5"/> The sensitivities ar<span class="_ _5"/>e based on the impact<span class="_ _5"/> of financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instruments that<span class="_ _5"/> are outstanding at<span class="_ _5"/> the balance sheet<span class="_ _5"/> dat<span class="_ _5"/>e.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:149.1875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 50.0566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Credit risk</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maturity anal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ysis of tr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 291.926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 569.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Receivables not</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> due</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,331</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,065</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 569.977px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Less than 90 da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ys overdue</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 339.545px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,330</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,140</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">91 – 365 days over</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">due</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.018px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">292</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">253</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 569.766px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">More than 1 year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> overdue</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 353.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">127</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 569.953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Receivables, gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">oss</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.251px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,114</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,585</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.811px; width: 569.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> bad debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.447px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">226</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.701px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.123px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The loss allowanc<span class="_ _5"/>e provision f<span class="_ _5"/>or <span class="_ _5"/>trade r<span class="_ _5"/>eceivables as at<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 reconciles <span class="_ _5"/>to the opening los<span class="_ _5"/>s allowance <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:154.296875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ovision for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> bad debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.785px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.426px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 427.575px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">226</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> made</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 401.959px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">363</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">258</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount used</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.947px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">114</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eversed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">205</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">210</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Acquired in business c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ombinations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 324.692px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 98.3887px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposal on the sale of businesses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.567px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.067px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.186px; width: 80.5254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate ad</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 80.4219px; top: 128.92px; width: 67.4648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">justments and</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 147px; top: 128.186px; width: 33.1406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> others</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 482.406px; top: 128.92px; width: 87.0586px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.062px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">226</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _5"/>e to financial and commer<span class="_ _5"/>cial counterparties but<span class="_ _5"/> has no particular c<span class="_ _5"/>oncentration<span class="_ _5"/> of customers or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _5"/> T<span class="_ _0"/>o minimise the credit<span class="_ _5"/> risk, financial <span class="_ _5"/>vetting is undertaken<span class="_ _5"/> for<span class="_ _5"/> all major<span class="_ _5"/> customers and financial institutions,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _5"/> is required f<span class="_ _5"/>or c<span class="_ _5"/>ommercial counterparties<span class="_ _5"/>, and cr<span class="_ _5"/>edit limits are set<span class="_ _5"/> for<span class="_ _5"/> financial institutions and ke<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial counterparties.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _5"/>the simplified approach <span class="_ _5"/>to providing <span class="_ _5"/>the expected cr<span class="_ _5"/>edit losses prescribed b<span class="_ _5"/>y IFRS 9<span class="_ _5"/>, which<span class="_ _5"/> permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _5"/>xpected loss provision<span class="_ _5"/> for<span class="_ _5"/> all tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables.<span class="_ _5"/> T<span class="_ _0"/>o measure the e<span class="_ _5"/>xpected credit<span class="_ _5"/> losses, <span class="_ _5"/>trade<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receiv<span class="_ _5"/>ables have been gr<span class="_ _5"/>ouped based on shared cr<span class="_ _5"/>edit risk char<span class="_ _5"/>acteristics and the days past<span class="_ _5"/> due.<span class="_ _5"/> In accordance <span class="_ _5"/>with IFRS 9,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables have also been consider<span class="_ _5"/>ed for<span class="_ _5"/> impairment. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _5"/>ely 55% (50%) of <span class="_ _5"/>the provision<span class="_ _5"/> for<span class="_ _5"/> bad debt is rela<span class="_ _5"/>ted to <span class="_ _5"/>trade r<span class="_ _5"/>eceivables ov<span class="_ _5"/>erdue by<span class="_ _5"/> more than<span class="_ _5"/> one year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost<span class="_ _5"/> comprise loans receiv<span class="_ _5"/>able, finance lease r<span class="_ _5"/>eceivables and other<span class="_ _5"/> rec<span class="_ _5"/>eivables.<span class="_ _5"/> These </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial assets are consider<span class="_ _5"/>ed to ha<span class="_ _5"/>ve low credit<span class="_ _5"/> risk, and <span class="_ _5"/>thus the impairment<span class="_ _5"/> provision calculat<span class="_ _5"/>ed based on 12 months </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of expected losses is consider<span class="_ _5"/>ed immaterial.<span class="_ _5"/> The financial assets ar<span class="_ _5"/>e considered <span class="_ _5"/>to be low-risk when<span class="_ _5"/> they<span class="_ _5"/> have a low risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of default,<span class="_ _5"/> and the is<span class="_ _5"/>suer has a str<span class="_ _5"/>ong capacity <span class="_ _5"/>to meet its contr<span class="_ _5"/>actual cash flow obliga<span class="_ _5"/>tions in the near<span class="_ _5"/> t<span class="_ _5"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _5"/>y held in r<span class="_ _5"/>elationship banks with a cr<span class="_ _5"/>edit r<span class="_ _5"/>ating of at least<span class="_ _5"/> A<span class="_ _5"/>-. No individual expo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure is abov<span class="_ _5"/>e 10%. Maersk has ISDA<span class="_ _5"/> agreemen<span class="_ _5"/>ts for<span class="_ _5"/> tr<span class="_ _5"/>ading of derivatives,<span class="_ _5"/> under<span class="_ _5"/> which <span class="_ _5"/>the Group has a right<span class="_ _5"/> to net<span class="_ _5"/> settle-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in <span class="_ _5"/>the event<span class="_ _5"/> of certain credit<span class="_ _5"/> events.<span class="_ _5"/> <span class="_ _5"/>This results in<span class="_ _5"/> the credit<span class="_ _5"/> risk being limited t<span class="_ _5"/>o the net position<span class="_ _5"/> per count<span class="_ _5"/>erparty<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The loss allowanc<span class="_ _5"/>e provision f<span class="_ _5"/>or <span class="_ _5"/>trade r<span class="_ _5"/>eceivables as at<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 reconciles <span class="_ _5"/>to the opening los<span class="_ _5"/>s allowance <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:154.296875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ovision for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> bad debt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.785px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 569.426px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 427.575px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">226</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provision</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> made</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 401.959px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">363</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">258</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount used</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.947px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">114</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">88</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.771px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Amount r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eversed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">205</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">210</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Acquired in business c</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ombinations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 324.692px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 98.3887px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposal on the sale of businesses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.567px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 569.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfers, assets held for</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.067px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.186px; width: 80.5254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exchange r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate ad</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 80.4219px; top: 128.92px; width: 67.4648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">justments and</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 147px; top: 128.186px; width: 33.1406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> others</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 482.406px; top: 128.92px; width: 87.0586px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.062px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">265</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">226</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _5"/>e to financial and commer<span class="_ _5"/>cial counterparties but<span class="_ _5"/> has no particular c<span class="_ _5"/>oncentration<span class="_ _5"/> of customers or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _5"/> T<span class="_ _0"/>o minimise the credit<span class="_ _5"/> risk, financial <span class="_ _5"/>vetting is undertaken<span class="_ _5"/> for<span class="_ _5"/> all major<span class="_ _5"/> customers and financial institutions,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _5"/> is required f<span class="_ _5"/>or c<span class="_ _5"/>ommercial counterparties<span class="_ _5"/>, and cr<span class="_ _5"/>edit limits are set<span class="_ _5"/> for<span class="_ _5"/> financial institutions and ke<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial counterparties.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _5"/>the simplified approach <span class="_ _5"/>to providing <span class="_ _5"/>the expected cr<span class="_ _5"/>edit losses prescribed b<span class="_ _5"/>y IFRS 9<span class="_ _5"/>, which<span class="_ _5"/> permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _5"/>xpected loss provision<span class="_ _5"/> for<span class="_ _5"/> all tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables.<span class="_ _5"/> T<span class="_ _0"/>o measure the e<span class="_ _5"/>xpected credit<span class="_ _5"/> losses, <span class="_ _5"/>trade<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receiv<span class="_ _5"/>ables have been gr<span class="_ _5"/>ouped based on shared cr<span class="_ _5"/>edit risk char<span class="_ _5"/>acteristics and the days past<span class="_ _5"/> due.<span class="_ _5"/> In accordance <span class="_ _5"/>with IFRS 9,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables have also been consider<span class="_ _5"/>ed for<span class="_ _5"/> impairment. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _5"/>ely 55% (50%) of <span class="_ _5"/>the provision<span class="_ _5"/> for<span class="_ _5"/> bad debt is rela<span class="_ _5"/>ted to <span class="_ _5"/>trade r<span class="_ _5"/>eceivables ov<span class="_ _5"/>erdue by<span class="_ _5"/> more than<span class="_ _5"/> one year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost<span class="_ _5"/> comprise loans receiv<span class="_ _5"/>able, finance lease r<span class="_ _5"/>eceivables and other<span class="_ _5"/> rec<span class="_ _5"/>eivables.<span class="_ _5"/> These </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial assets are consider<span class="_ _5"/>ed to ha<span class="_ _5"/>ve low credit<span class="_ _5"/> risk, and <span class="_ _5"/>thus the impairment<span class="_ _5"/> provision calculat<span class="_ _5"/>ed based on 12 months </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of expected losses is consider<span class="_ _5"/>ed immaterial.<span class="_ _5"/> The financial assets ar<span class="_ _5"/>e considered <span class="_ _5"/>to be low-risk when<span class="_ _5"/> they<span class="_ _5"/> have a low risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of default,<span class="_ _5"/> and the is<span class="_ _5"/>suer has a str<span class="_ _5"/>ong capacity <span class="_ _5"/>to meet its contr<span class="_ _5"/>actual cash flow obliga<span class="_ _5"/>tions in the near<span class="_ _5"/> t<span class="_ _5"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _5"/>y held in r<span class="_ _5"/>elationship banks with a cr<span class="_ _5"/>edit r<span class="_ _5"/>ating of at least<span class="_ _5"/> A<span class="_ _5"/>-. No individual expo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure is abov<span class="_ _5"/>e 10%. Maersk has ISDA<span class="_ _5"/> agreemen<span class="_ _5"/>ts for<span class="_ _5"/> tr<span class="_ _5"/>ading of derivatives,<span class="_ _5"/> under<span class="_ _5"/> which <span class="_ _5"/>the Group has a right<span class="_ _5"/> to net<span class="_ _5"/> settle-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in <span class="_ _5"/>the event<span class="_ _5"/> of certain credit<span class="_ _5"/> events.<span class="_ _5"/> <span class="_ _5"/>This results in<span class="_ _5"/> the credit<span class="_ _5"/> risk being limited t<span class="_ _5"/>o the net position<span class="_ _5"/> per count<span class="_ _5"/>erparty<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _5"/>e to financial and commer<span class="_ _5"/>cial counterparties but<span class="_ _5"/> has no particular c<span class="_ _5"/>oncentration<span class="_ _5"/> of customers or<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _5"/> T<span class="_ _0"/>o minimise the credit<span class="_ _5"/> risk, financial <span class="_ _5"/>vetting is undertaken<span class="_ _5"/> for<span class="_ _5"/> all major<span class="_ _5"/> customers and financial institutions,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _5"/> is required f<span class="_ _5"/>or c<span class="_ _5"/>ommercial counterparties<span class="_ _5"/>, and cr<span class="_ _5"/>edit limits are set<span class="_ _5"/> for<span class="_ _5"/> financial institutions and ke<span class="_ _5"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial counterparties.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _5"/>the simplified approach <span class="_ _5"/>to providing <span class="_ _5"/>the expected cr<span class="_ _5"/>edit losses prescribed b<span class="_ _5"/>y IFRS 9<span class="_ _5"/>, which<span class="_ _5"/> permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _5"/>xpected loss provision<span class="_ _5"/> for<span class="_ _5"/> all tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables.<span class="_ _5"/> T<span class="_ _0"/>o measure the e<span class="_ _5"/>xpected credit<span class="_ _5"/> losses, <span class="_ _5"/>trade<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receiv<span class="_ _5"/>ables have been gr<span class="_ _5"/>ouped based on shared cr<span class="_ _5"/>edit risk char<span class="_ _5"/>acteristics and the days past<span class="_ _5"/> due.<span class="_ _5"/> In accordance <span class="_ _5"/>with IFRS 9,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _5"/>ade receiv<span class="_ _5"/>ables have also been consider<span class="_ _5"/>ed for<span class="_ _5"/> impairment. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _5"/>ely 55% (50%) of <span class="_ _5"/>the provision<span class="_ _5"/> for<span class="_ _5"/> bad debt is rela<span class="_ _5"/>ted to <span class="_ _5"/>trade r<span class="_ _5"/>eceivables ov<span class="_ _5"/>erdue by<span class="_ _5"/> more than<span class="_ _5"/> one year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> financial assets at amortised cost<span class="_ _5"/> comprise loans receiv<span class="_ _5"/>able, finance lease r<span class="_ _5"/>eceivables and other<span class="_ _5"/> rec<span class="_ _5"/>eivables.<span class="_ _5"/> These </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial assets are consider<span class="_ _5"/>ed to ha<span class="_ _5"/>ve low credit<span class="_ _5"/> risk, and <span class="_ _5"/>thus the impairment<span class="_ _5"/> provision calculat<span class="_ _5"/>ed based on 12 months </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of expected losses is consider<span class="_ _5"/>ed immaterial.<span class="_ _5"/> The financial assets ar<span class="_ _5"/>e considered <span class="_ _5"/>to be low-risk when<span class="_ _5"/> they<span class="_ _5"/> have a low risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of default,<span class="_ _5"/> and the is<span class="_ _5"/>suer has a str<span class="_ _5"/>ong capacity <span class="_ _5"/>to meet its contr<span class="_ _5"/>actual cash flow obliga<span class="_ _5"/>tions in the near<span class="_ _5"/> t<span class="_ _5"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _5"/>y held in r<span class="_ _5"/>elationship banks with a cr<span class="_ _5"/>edit r<span class="_ _5"/>ating of at least<span class="_ _5"/> A<span class="_ _5"/>-. No individual expo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure is abov<span class="_ _5"/>e 10%. Maersk has ISDA<span class="_ _5"/> agreemen<span class="_ _5"/>ts for<span class="_ _5"/> tr<span class="_ _5"/>ading of derivatives,<span class="_ _5"/> under<span class="_ _5"/> which <span class="_ _5"/>the Group has a right<span class="_ _5"/> to net<span class="_ _5"/> settle-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in <span class="_ _5"/>the event<span class="_ _5"/> of certain credit<span class="_ _5"/> events.<span class="_ _5"/> <span class="_ _5"/>This results in<span class="_ _5"/> the credit<span class="_ _5"/> risk being limited t<span class="_ _5"/>o the net position<span class="_ _5"/> per count<span class="_ _5"/>erparty<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _5"/> information about<span class="_ _5"/> cash and bank balances in countries with e<span class="_ _5"/>xchange control or<span class="_ _5"/> other<span class="_ _5"/> r<span class="_ _5"/>estrictions, r<span class="_ _5"/>efer<span class="_ _5"/> to not<span class="_ _5"/>e 5.5 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow specifications<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _5"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _5"/>te and measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue using general<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _5"/>aluation t<span class="_ _5"/>echniques based on relev<span class="_ _5"/>ant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _5"/>es and exchange r<span class="_ _5"/>ates.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The effective portion of changes in the <span class="_ _5"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instruments designated <span class="_ _5"/>to hedge highly<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _5"/>e tr<span class="_ _5"/>ansactions is recognised in<span class="_ _5"/> other com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _5"/>til the hedged <span class="_ _5"/>transactions ar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _5"/> At<span class="_ _5"/> that time<span class="_ _5"/>, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _5"/>erred to the items in which the hedged trans <span class="_ _9"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The effectiv<span class="_ _5"/>e portion of changes in the <span class="_ _5"/>value of de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _5"/>ts used to hedge <span class="_ _5"/>the value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised financial assets and liabilities is recognised in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> to<span class="_ _5"/>gether <span class="_ _5"/>with changes in <span class="_ _5"/>the fair<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _5"/>the hedged assets or<span class="_ _5"/> liabilities that can<span class="_ _5"/> be attrib-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _5"/>o the hedging relationship<span class="_ _5"/>. Curr<span class="_ _5"/>ency basis spr<span class="_ _5"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _5"/>d points are consider<span class="_ _5"/>ed a cost of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in other c<span class="_ _5"/>omprehensive income and def<span class="_ _5"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _5"/>ealisation.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _5"/>e tr<span class="_ _5"/>ansactions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in the f<span class="_ _5"/>air<span class="_ _5"/> values of deriv<span class="_ _5"/>ative financial instru-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> which do not qualify<span class="_ _5"/> for<span class="_ _5"/> hedge accounting,<span class="_ _5"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t as financial income </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> expenses for<span class="_ _5"/> inter<span class="_ _5"/>est and currency<span class="_ _5"/>-based instruments,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and as other<span class="_ _5"/> income/<span class="_ _5"/>costs for<span class="_ _5"/> oil price hedges and for<span class="_ _5"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">war<span class="_ _5"/>d freight agr<span class="_ _5"/>eements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.6 <span class="_ _2"> </span>Financial instruments by cat<span class="_ _5"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:536.537109375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 522.641px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 0.138672px; width: 168.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.686px; top: 0.138672px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">F</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 313.578px; top: 24.8105px; width: 255.398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.4824px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 569.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loan receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,956</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,020</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 416.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables and deposits</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">117</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 416.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 416.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables (non-in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">terest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,712</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 416.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.701px; width: 416.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,894</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.498px; width: 416.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.947px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 213.279px; width: 249.732px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value through other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> compr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 126.031px; top: 228.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.17px; width: 126.199px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">estments (FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 320.812px; top: 228.201px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">359</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 46.3281px; top: 242.961px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.092px; width: 46.0254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.062px; top: 243.092px; width: 105.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.982px; width: 416.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough OCI</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 287.779px; width: 416.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34,099</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,440</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 317.561px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.451px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,000</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 347.342px; width: 416.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.232px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,339</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 377.123px; width: 416.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.014px; width: 416.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,500</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 406.889px; width: 416.326px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,851</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,715</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 436.686px; width: 416.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.215px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 466.467px; width: 88.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 481.357px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.817px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 496.248px; width: 416.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 526.045px; width: 416.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.588px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Designated at<span class="_ _5"/> initial recognition in acc<span class="_ _5"/>ordance with IFRS 9<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Investments in bonds measured at f<span class="_ _5"/>air <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Where no fair <span class="_ _5"/>value is stated,<span class="_ _5"/> the amount<span class="_ _5"/> equals carrying amount.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.6 <span class="_ _2"> </span>Financial instruments by cat<span class="_ _5"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:536.537109375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 522.641px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 0.138672px; width: 168.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.686px; top: 0.138672px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">F</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 313.578px; top: 24.8105px; width: 255.398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.4824px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 569.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loan receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,956</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,020</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 416.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables and deposits</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">117</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 416.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 416.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables (non-in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">terest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,712</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 416.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.701px; width: 416.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,894</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.498px; width: 416.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.947px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 213.279px; width: 249.732px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value through other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> compr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 126.031px; top: 228.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.17px; width: 126.199px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">estments (FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 320.812px; top: 228.201px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">359</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 46.3281px; top: 242.961px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.092px; width: 46.0254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.062px; top: 243.092px; width: 105.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.982px; width: 416.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough OCI</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 287.779px; width: 416.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34,099</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,440</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 317.561px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.451px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,000</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 347.342px; width: 416.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.232px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,339</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 377.123px; width: 416.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.014px; width: 416.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,500</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 406.889px; width: 416.326px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,851</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,715</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 436.686px; width: 416.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.215px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 466.467px; width: 88.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 481.357px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.817px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 496.248px; width: 416.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 526.045px; width: 416.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.588px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Designated at<span class="_ _5"/> initial recognition in acc<span class="_ _5"/>ordance with IFRS 9<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Investments in bonds measured at f<span class="_ _5"/>air <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Where no fair <span class="_ _5"/>value is stated,<span class="_ _5"/> the amount<span class="_ _5"/> equals carrying amount.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.6 <span class="_ _2"> </span>Financial instruments by cat<span class="_ _5"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:536.537109375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 522.641px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 0.138672px; width: 168.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.686px; top: 0.138672px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">F</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 313.578px; top: 24.8105px; width: 255.398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.4824px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 569.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loan receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,956</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,020</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 416.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables and deposits</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">117</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 416.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 416.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables (non-in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">terest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,712</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 416.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.701px; width: 416.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,894</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.498px; width: 416.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.947px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 213.279px; width: 249.732px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value through other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> compr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 126.031px; top: 228.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.17px; width: 126.199px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">estments (FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 320.812px; top: 228.201px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">359</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 46.3281px; top: 242.961px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.092px; width: 46.0254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.062px; top: 243.092px; width: 105.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.982px; width: 416.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough OCI</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 287.779px; width: 416.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34,099</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,440</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 317.561px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.451px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,000</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 347.342px; width: 416.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.232px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,339</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 377.123px; width: 416.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.014px; width: 416.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,500</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 406.889px; width: 416.326px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,851</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,715</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 436.686px; width: 416.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.215px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 466.467px; width: 88.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 481.357px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.817px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 496.248px; width: 416.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 526.045px; width: 416.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.588px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Designated at<span class="_ _5"/> initial recognition in acc<span class="_ _5"/>ordance with IFRS 9<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Investments in bonds measured at f<span class="_ _5"/>air <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Where no fair <span class="_ _5"/>value is stated,<span class="_ _5"/> the amount<span class="_ _5"/> equals carrying amount.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:285.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 128.895px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Movement</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> during the year </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 205.594px; top: 0.0136718px; width: 58.1367px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> equity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 314.266px; top: 0.0136718px; width: 28.4824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 393.031px; top: 0.0136718px; width: 26.2383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 28.4824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 26.2383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 42.4453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">in level 3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 205.594px; top: 12.0137px; width: 58.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">investments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 12.0137px; width: 52.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 375.734px; top: 12.0137px; width: 42.6504px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 451.766px; top: 12.0137px; width: 41.7715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payables</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 529.344px; top: 12.0137px; width: 42.6504px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 229.594px; top: 24.0137px; width: 33.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">(FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 527.516px; top: 24.0137px; width: 42.2461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 1 January 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.4435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 377 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 572.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 23 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 572.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 147px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in the </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 569.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 156.51px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 572.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">comprehensive inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ome</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 1 January 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.4435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 342 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">345</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 25 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 22 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 569.988px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 70</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 147px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in the </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.592px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.482px; width: 156.51px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.482px; width: 572.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">comprehensive inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ome</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 275.373px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue can be divided into <span class="_ _5"/>three levels:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _18"> </span>–<span class="_ _5"/> Quoted prices (unadjusted) in<span class="_ _5"/> active markets f<span class="_ _5"/>or identical as<span class="_ _5"/>sets or liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 – <span class="_ _9"/>Inputs other <span class="_ _5"/>than quoted prices included in le<span class="_ _5"/>vel 1 that<span class="_ _5"/> are observable f<span class="_ _5"/>or<span class="_ _5"/> the asset or<span class="_ _5"/> liability<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _5"/> directly<span class="_ _5"/> (i.e.<span class="_ _5"/> as prices) or<span class="_ _5"/> indirectly<span class="_ _5"/> (i.e.<span class="_ _5"/> derived from pric<span class="_ _5"/>es) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 – Inputs for<span class="_ _5"/> <span class="_ _5"/>the asset or<span class="_ _5"/> liability <span class="_ _5"/>that ar<span class="_ _5"/>e not based on observable mark<span class="_ _5"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of listed securities is within lev<span class="_ _5"/>el 1 of the fair<span class="_ _5"/> v<span class="_ _5"/>alue hierar<span class="_ _5"/>chy<span class="_ _5"/>.<span class="_ _5"/> Non-listed shares and other<span class="_ _5"/> securities ar<span class="_ _5"/>e within <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives is mainl<span class="_ _5"/>y within lev<span class="_ _5"/>el 2 of the fair<span class="_ _5"/> <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _5"/> and is calculated based on observable<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market data as of the end of the r<span class="_ _5"/>eporting period. <span class="_ _5"/>A<span class="_ _5"/> minor amoun<span class="_ _5"/>t of crude oil price deriva<span class="_ _5"/>tives is within level 1 of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> value hierar<span class="_ _5"/>chy<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of level 3 assets and liabilities is primarily<span class="_ _5"/> based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expected futur<span class="_ _5"/>e cash flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _5"/>easonably<span class="_ _5"/> possible change in the discount<span class="_ _5"/> ra<span class="_ _5"/>te is not estimated <span class="_ _5"/>to affect<span class="_ _5"/> the Gr<span class="_ _5"/>oup’s pr<span class="_ _5"/>ofit or<span class="_ _5"/> equity significan<span class="_ _5"/>tly<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the short<span class="_ _5"/>-t<span class="_ _5"/>erm financial assets and other<span class="_ _5"/> financial liabilities carried at amortised cost<span class="_ _5"/> is not material<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _5"/>t from<span class="_ _5"/> the carrying amount.<span class="_ _5"/> In gener<span class="_ _5"/>al, fair<span class="_ _5"/> <span class="_ _5"/>value is determined primaril<span class="_ _5"/>y based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _5"/>s. <span class="_ _5"/>Where a mark<span class="_ _5"/>et price w<span class="_ _5"/>as available,<span class="_ _5"/> howev<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> this w<span class="_ _5"/>as deemed to be <span class="_ _5"/>the fair<span class="_ _5"/> value<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The fair<span class="_ _5"/> <span class="_ _5"/>value of listed issued bonds is within<span class="_ _5"/> level 1 of the f<span class="_ _5"/>air <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _0"/>. The f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the remaining borro<span class="_ _5"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and financial assets are <span class="_ _5"/>within level 2 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y and is calculated based on disc<span class="_ _5"/>ounted future cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Debt instruments (FV<span class="_ _5"/>OCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s debt instrumen<span class="_ _5"/>ts at fair<span class="_ _5"/> <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI include investments in quot<span class="_ _5"/>ed debt instruments and ar<span class="_ _5"/>e included <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">under<span class="_ _5"/> Securities in the balance sheet.<span class="_ _5"/> Inter<span class="_ _5"/>est income,<span class="_ _5"/> for<span class="_ _5"/>eign exchange re<span class="_ _5"/>valuation and impairment<span class="_ _5"/> losses or<span class="_ _5"/> reversals<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement and comput<span class="_ _5"/>ed in the same manner<span class="_ _5"/> as for<span class="_ _5"/> financial assets measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost. <span class="_ _5"/>The remaining f<span class="_ _5"/>air<span class="_ _5"/> value changes ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in OCI. Upon<span class="_ _5"/> derecognition,<span class="_ _5"/> the cumulativ<span class="_ _5"/>e fair<span class="_ _5"/> value chang<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recognised in OCI is recycled <span class="_ _5"/>to profit<span class="_ _5"/> or<span class="_ _5"/> loss.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.6 <span class="_ _2"> </span>Financial instruments by cat<span class="_ _5"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:536.537109375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 522.641px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 0.138672px; width: 168.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.686px; top: 0.138672px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">F</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 313.578px; top: 24.8105px; width: 255.398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.4824px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 569.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loan receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,956</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,020</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 416.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables and deposits</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">117</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 416.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 416.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables (non-in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">terest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,712</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 416.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.701px; width: 416.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,894</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.498px; width: 416.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.947px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 213.279px; width: 249.732px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value through other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> compr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 126.031px; top: 228.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.17px; width: 126.199px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">estments (FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 320.812px; top: 228.201px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">359</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 46.3281px; top: 242.961px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.092px; width: 46.0254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.062px; top: 243.092px; width: 105.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.982px; width: 416.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough OCI</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 287.779px; width: 416.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34,099</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,440</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 317.561px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.451px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,000</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 347.342px; width: 416.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.232px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,339</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 377.123px; width: 416.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.014px; width: 416.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,500</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 406.889px; width: 416.326px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,851</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,715</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 436.686px; width: 416.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.215px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 466.467px; width: 88.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 481.357px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.817px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 496.248px; width: 416.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 526.045px; width: 416.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.588px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Designated at<span class="_ _5"/> initial recognition in acc<span class="_ _5"/>ordance with IFRS 9<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Investments in bonds measured at f<span class="_ _5"/>air <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Where no fair <span class="_ _5"/>value is stated,<span class="_ _5"/> the amount<span class="_ _5"/> equals carrying amount.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:285.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 128.895px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Movement</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> during the year </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 205.594px; top: 0.0136718px; width: 58.1367px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> equity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 314.266px; top: 0.0136718px; width: 28.4824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 393.031px; top: 0.0136718px; width: 26.2383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 28.4824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 26.2383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 42.4453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">in level 3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 205.594px; top: 12.0137px; width: 58.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">investments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 12.0137px; width: 52.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 375.734px; top: 12.0137px; width: 42.6504px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 451.766px; top: 12.0137px; width: 41.7715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payables</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 529.344px; top: 12.0137px; width: 42.6504px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 229.594px; top: 24.0137px; width: 33.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">(FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 527.516px; top: 24.0137px; width: 42.2461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 1 January 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.4435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 377 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 572.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 23 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 572.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 147px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in the </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 569.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 156.51px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 572.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">comprehensive inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ome</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 1 January 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.4435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 342 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">345</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 25 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 22 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 569.988px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 70</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 147px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in the </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.592px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.482px; width: 156.51px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.482px; width: 572.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">comprehensive inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ome</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 275.373px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue can be divided into <span class="_ _5"/>three levels:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _18"> </span>–<span class="_ _5"/> Quoted prices (unadjusted) in<span class="_ _5"/> active markets f<span class="_ _5"/>or identical as<span class="_ _5"/>sets or liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 – <span class="_ _9"/>Inputs other <span class="_ _5"/>than quoted prices included in le<span class="_ _5"/>vel 1 that<span class="_ _5"/> are observable f<span class="_ _5"/>or<span class="_ _5"/> the asset or<span class="_ _5"/> liability<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _5"/> directly<span class="_ _5"/> (i.e.<span class="_ _5"/> as prices) or<span class="_ _5"/> indirectly<span class="_ _5"/> (i.e.<span class="_ _5"/> derived from pric<span class="_ _5"/>es) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 – Inputs for<span class="_ _5"/> <span class="_ _5"/>the asset or<span class="_ _5"/> liability <span class="_ _5"/>that ar<span class="_ _5"/>e not based on observable mark<span class="_ _5"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of listed securities is within lev<span class="_ _5"/>el 1 of the fair<span class="_ _5"/> v<span class="_ _5"/>alue hierar<span class="_ _5"/>chy<span class="_ _5"/>.<span class="_ _5"/> Non-listed shares and other<span class="_ _5"/> securities ar<span class="_ _5"/>e within <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives is mainl<span class="_ _5"/>y within lev<span class="_ _5"/>el 2 of the fair<span class="_ _5"/> <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _5"/> and is calculated based on observable<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market data as of the end of the r<span class="_ _5"/>eporting period. <span class="_ _5"/>A<span class="_ _5"/> minor amoun<span class="_ _5"/>t of crude oil price deriva<span class="_ _5"/>tives is within level 1 of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> value hierar<span class="_ _5"/>chy<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of level 3 assets and liabilities is primarily<span class="_ _5"/> based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expected futur<span class="_ _5"/>e cash flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _5"/>easonably<span class="_ _5"/> possible change in the discount<span class="_ _5"/> ra<span class="_ _5"/>te is not estimated <span class="_ _5"/>to affect<span class="_ _5"/> the Gr<span class="_ _5"/>oup’s pr<span class="_ _5"/>ofit or<span class="_ _5"/> equity significan<span class="_ _5"/>tly<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the short<span class="_ _5"/>-t<span class="_ _5"/>erm financial assets and other<span class="_ _5"/> financial liabilities carried at amortised cost<span class="_ _5"/> is not material<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _5"/>t from<span class="_ _5"/> the carrying amount.<span class="_ _5"/> In gener<span class="_ _5"/>al, fair<span class="_ _5"/> <span class="_ _5"/>value is determined primaril<span class="_ _5"/>y based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _5"/>s. <span class="_ _5"/>Where a mark<span class="_ _5"/>et price w<span class="_ _5"/>as available,<span class="_ _5"/> howev<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> this w<span class="_ _5"/>as deemed to be <span class="_ _5"/>the fair<span class="_ _5"/> value<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The fair<span class="_ _5"/> <span class="_ _5"/>value of listed issued bonds is within<span class="_ _5"/> level 1 of the f<span class="_ _5"/>air <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _0"/>. The f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the remaining borro<span class="_ _5"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and financial assets are <span class="_ _5"/>within level 2 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y and is calculated based on disc<span class="_ _5"/>ounted future cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Debt instruments (FV<span class="_ _5"/>OCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s debt instrumen<span class="_ _5"/>ts at fair<span class="_ _5"/> <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI include investments in quot<span class="_ _5"/>ed debt instruments and ar<span class="_ _5"/>e included <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">under<span class="_ _5"/> Securities in the balance sheet.<span class="_ _5"/> Inter<span class="_ _5"/>est income,<span class="_ _5"/> for<span class="_ _5"/>eign exchange re<span class="_ _5"/>valuation and impairment<span class="_ _5"/> losses or<span class="_ _5"/> reversals<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement and comput<span class="_ _5"/>ed in the same manner<span class="_ _5"/> as for<span class="_ _5"/> financial assets measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost. <span class="_ _5"/>The remaining f<span class="_ _5"/>air<span class="_ _5"/> value changes ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in OCI. Upon<span class="_ _5"/> derecognition,<span class="_ _5"/> the cumulativ<span class="_ _5"/>e fair<span class="_ _5"/> value chang<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recognised in OCI is recycled <span class="_ _5"/>to profit<span class="_ _5"/> or<span class="_ _5"/> loss.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 4.6 <span class="_ _2"> </span>Financial instruments by cat<span class="_ _5"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:536.537109375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 522.641px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 309.328px; top: 0.138672px; width: 168.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.6366px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 477.686px; top: 0.138672px; width: 44.4961px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">F</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 313.578px; top: 24.8105px; width: 255.398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 49.4824px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 569.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Loan receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,999</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,956</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16,020</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,973</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">31</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 416.566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> interest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eceivables and deposits</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.3906px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">117</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 416.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade receivables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,849</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,359</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 416.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> receivables (non-in</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">terest</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-bearing) </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,712</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 416.672px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cash and bank balances</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,575</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,701</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 153.701px; width: 416.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32,111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,894</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 183.498px; width: 416.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.947px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 213.279px; width: 249.732px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value through other</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> compr</span><span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 126.031px; top: 228.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 228.17px; width: 126.199px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Equity inv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">estments (FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 320.812px; top: 228.201px; width: 95.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">359</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 46.3281px; top: 242.961px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 243.092px; width: 46.0254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Securities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.062px; top: 243.092px; width: 105.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,580</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 257.982px; width: 416.713px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial assets at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value thr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ough OCI</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,939</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">398</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 287.779px; width: 416.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34,099</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">28,440</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 317.561px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at amortised cost</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 332.451px; width: 569.836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Bank and other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> credit institutions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">973</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">937</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,000</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 347.342px; width: 416.59px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.98px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,412</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,448</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 362.232px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Issued bonds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,139</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,393</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,187</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,339</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 377.123px; width: 416.889px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ade payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.037px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,698</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 392.014px; width: 416.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,676</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,500</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 406.889px; width: 416.326px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at amortised cost</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,851</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,715</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 436.686px; width: 416.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Derivativ</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.215px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">558</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">395</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 466.467px; width: 88.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carried at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 481.357px; width: 416.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> payables</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.817px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 496.248px; width: 416.443px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Financial liabilities at fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 526.045px; width: 416.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal financial liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.588px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25,420</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,126</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>Designated at<span class="_ _5"/> initial recognition in acc<span class="_ _5"/>ordance with IFRS 9<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>Investments in bonds measured at f<span class="_ _5"/>air <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>Where no fair <span class="_ _5"/>value is stated,<span class="_ _5"/> the amount<span class="_ _5"/> equals carrying amount.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:285.859375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 128.895px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Movement</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> during the year </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 205.594px; top: 0.0136718px; width: 58.1367px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> equity</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 314.266px; top: 0.0136718px; width: 28.4824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 393.031px; top: 0.0136718px; width: 26.2383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 0.0136718px; width: 28.4824px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.25px; top: 0.0136718px; width: 26.2383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 42.4453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">in level 3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 205.594px; top: 12.0137px; width: 58.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">investments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.031px; top: 12.0137px; width: 52.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">receiv</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ables</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 375.734px; top: 12.0137px; width: 42.6504px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 451.766px; top: 12.0137px; width: 41.7715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">payables</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 529.344px; top: 12.0137px; width: 42.6504px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">financial </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 229.594px; top: 24.0137px; width: 33.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">(FVOCI)</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 386.922px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">assets</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 527.516px; top: 24.0137px; width: 42.2461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 569.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 1 January 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.4435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 377 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.19141px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 572.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 23 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">23</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 572.578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 147px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in the </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 569.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.57227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">- </span><span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 156.51px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 572.473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">comprehensive inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ome</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-64</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">335</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 569.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 1 January 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 86.4435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 342 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">345</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">130</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Additions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 25 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 22 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 569.988px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Disposals</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 70</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">70</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 147px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in the </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 233.592px; width: 569.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-66</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.482px; width: 156.51px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gains/losses reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised in other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 260.482px; width: 572.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">comprehensive inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ome</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 275.373px; width: 569.654px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Carrying amount</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">377</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">16</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue can be divided into <span class="_ _5"/>three levels:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _18"> </span>–<span class="_ _5"/> Quoted prices (unadjusted) in<span class="_ _5"/> active markets f<span class="_ _5"/>or identical as<span class="_ _5"/>sets or liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 – <span class="_ _9"/>Inputs other <span class="_ _5"/>than quoted prices included in le<span class="_ _5"/>vel 1 that<span class="_ _5"/> are observable f<span class="_ _5"/>or<span class="_ _5"/> the asset or<span class="_ _5"/> liability<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _5"/> directly<span class="_ _5"/> (i.e.<span class="_ _5"/> as prices) or<span class="_ _5"/> indirectly<span class="_ _5"/> (i.e.<span class="_ _5"/> derived from pric<span class="_ _5"/>es) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 – Inputs for<span class="_ _5"/> <span class="_ _5"/>the asset or<span class="_ _5"/> liability <span class="_ _5"/>that ar<span class="_ _5"/>e not based on observable mark<span class="_ _5"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of listed securities is within lev<span class="_ _5"/>el 1 of the fair<span class="_ _5"/> v<span class="_ _5"/>alue hierar<span class="_ _5"/>chy<span class="_ _5"/>.<span class="_ _5"/> Non-listed shares and other<span class="_ _5"/> securities ar<span class="_ _5"/>e within <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives is mainl<span class="_ _5"/>y within lev<span class="_ _5"/>el 2 of the fair<span class="_ _5"/> <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _5"/> and is calculated based on observable<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market data as of the end of the r<span class="_ _5"/>eporting period. <span class="_ _5"/>A<span class="_ _5"/> minor amoun<span class="_ _5"/>t of crude oil price deriva<span class="_ _5"/>tives is within level 1 of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> value hierar<span class="_ _5"/>chy<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of level 3 assets and liabilities is primarily<span class="_ _5"/> based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expected futur<span class="_ _5"/>e cash flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _5"/>easonably<span class="_ _5"/> possible change in the discount<span class="_ _5"/> ra<span class="_ _5"/>te is not estimated <span class="_ _5"/>to affect<span class="_ _5"/> the Gr<span class="_ _5"/>oup’s pr<span class="_ _5"/>ofit or<span class="_ _5"/> equity significan<span class="_ _5"/>tly<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the short<span class="_ _5"/>-t<span class="_ _5"/>erm financial assets and other<span class="_ _5"/> financial liabilities carried at amortised cost<span class="_ _5"/> is not material<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _5"/>t from<span class="_ _5"/> the carrying amount.<span class="_ _5"/> In gener<span class="_ _5"/>al, fair<span class="_ _5"/> <span class="_ _5"/>value is determined primaril<span class="_ _5"/>y based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _5"/>s. <span class="_ _5"/>Where a mark<span class="_ _5"/>et price w<span class="_ _5"/>as available,<span class="_ _5"/> howev<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> this w<span class="_ _5"/>as deemed to be <span class="_ _5"/>the fair<span class="_ _5"/> value<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The fair<span class="_ _5"/> <span class="_ _5"/>value of listed issued bonds is within<span class="_ _5"/> level 1 of the f<span class="_ _5"/>air <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _0"/>. The f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the remaining borro<span class="_ _5"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and financial assets are <span class="_ _5"/>within level 2 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y and is calculated based on disc<span class="_ _5"/>ounted future cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Debt instruments (FV<span class="_ _5"/>OCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s debt instrumen<span class="_ _5"/>ts at fair<span class="_ _5"/> <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI include investments in quot<span class="_ _5"/>ed debt instruments and ar<span class="_ _5"/>e included <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">under<span class="_ _5"/> Securities in the balance sheet.<span class="_ _5"/> Inter<span class="_ _5"/>est income,<span class="_ _5"/> for<span class="_ _5"/>eign exchange re<span class="_ _5"/>valuation and impairment<span class="_ _5"/> losses or<span class="_ _5"/> reversals<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement and comput<span class="_ _5"/>ed in the same manner<span class="_ _5"/> as for<span class="_ _5"/> financial assets measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost. <span class="_ _5"/>The remaining f<span class="_ _5"/>air<span class="_ _5"/> value changes ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in OCI. Upon<span class="_ _5"/> derecognition,<span class="_ _5"/> the cumulativ<span class="_ _5"/>e fair<span class="_ _5"/> value chang<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recognised in OCI is recycled <span class="_ _5"/>to profit<span class="_ _5"/> or<span class="_ _5"/> loss.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _5"/> equity investmen<span class="_ _5"/>ts (FVOCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has inv<span class="_ _5"/>estments in equity shar<span class="_ _5"/>es of both listed and non-listed companies<span class="_ _5"/>. <span class="_ _5"/>The Group holds non-contr<span class="_ _5"/>olling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _5"/>ests (between 0.<span class="_ _0"/>1% and 15%) in these companies.<span class="_ _5"/> <span class="_ _5"/>These investments wer<span class="_ _5"/>e irrev<span class="_ _5"/>ocably designat<span class="_ _5"/>ed at fair<span class="_ _5"/> <span class="_ _5"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">through OCI as <span class="_ _5"/>the Group considers <span class="_ _5"/>these investments t<span class="_ _5"/>o be strat<span class="_ _5"/>egic in nature<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _5"/> fair<span class="_ _5"/> v<span class="_ _5"/>alue can be divided into <span class="_ _5"/>three levels:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _18"> </span>–<span class="_ _5"/> Quoted prices (unadjusted) in<span class="_ _5"/> active markets f<span class="_ _5"/>or identical as<span class="_ _5"/>sets or liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 – <span class="_ _9"/>Inputs other <span class="_ _5"/>than quoted prices included in le<span class="_ _5"/>vel 1 that<span class="_ _5"/> are observable f<span class="_ _5"/>or<span class="_ _5"/> the asset or<span class="_ _5"/> liability<span class="_ _5"/>,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _5"/> directly<span class="_ _5"/> (i.e.<span class="_ _5"/> as prices) or<span class="_ _5"/> indirectly<span class="_ _5"/> (i.e.<span class="_ _5"/> derived from pric<span class="_ _5"/>es) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 – Inputs for<span class="_ _5"/> <span class="_ _5"/>the asset or<span class="_ _5"/> liability <span class="_ _5"/>that ar<span class="_ _5"/>e not based on observable mark<span class="_ _5"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of listed securities is within lev<span class="_ _5"/>el 1 of the fair<span class="_ _5"/> v<span class="_ _5"/>alue hierar<span class="_ _5"/>chy<span class="_ _5"/>.<span class="_ _5"/> Non-listed shares and other<span class="_ _5"/> securities ar<span class="_ _5"/>e within <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of derivatives is mainl<span class="_ _5"/>y within lev<span class="_ _5"/>el 2 of the fair<span class="_ _5"/> <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _5"/> and is calculated based on observable<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market data as of the end of the r<span class="_ _5"/>eporting period. <span class="_ _5"/>A<span class="_ _5"/> minor amoun<span class="_ _5"/>t of crude oil price deriva<span class="_ _5"/>tives is within level 1 of <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _5"/> value hierar<span class="_ _5"/>chy<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of level 3 assets and liabilities is primarily<span class="_ _5"/> based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expected futur<span class="_ _5"/>e cash flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _5"/>easonably<span class="_ _5"/> possible change in the discount<span class="_ _5"/> ra<span class="_ _5"/>te is not estimated <span class="_ _5"/>to affect<span class="_ _5"/> the Gr<span class="_ _5"/>oup’s pr<span class="_ _5"/>ofit or<span class="_ _5"/> equity significan<span class="_ _5"/>tly<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the short<span class="_ _5"/>-t<span class="_ _5"/>erm financial assets and other<span class="_ _5"/> financial liabilities carried at amortised cost<span class="_ _5"/> is not material<span class="_ _5"/>ly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _5"/>t from<span class="_ _5"/> the carrying amount.<span class="_ _5"/> In gener<span class="_ _5"/>al, fair<span class="_ _5"/> <span class="_ _5"/>value is determined primaril<span class="_ _5"/>y based on the pr<span class="_ _5"/>esent <span class="_ _5"/>value of expect<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _5"/>s. <span class="_ _5"/>Where a mark<span class="_ _5"/>et price w<span class="_ _5"/>as available,<span class="_ _5"/> howev<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> this w<span class="_ _5"/>as deemed to be <span class="_ _5"/>the fair<span class="_ _5"/> value<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The fair<span class="_ _5"/> <span class="_ _5"/>value of listed issued bonds is within<span class="_ _5"/> level 1 of the f<span class="_ _5"/>air <span class="_ _5"/>value hier<span class="_ _5"/>archy<span class="_ _0"/>. The f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the remaining borro<span class="_ _5"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and financial assets are <span class="_ _5"/>within level 2 of <span class="_ _5"/>the fair<span class="_ _5"/> value hier<span class="_ _5"/>arch<span class="_ _5"/>y and is calculated based on disc<span class="_ _5"/>ounted future cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Debt instruments (FV<span class="_ _5"/>OCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _5"/>s debt instrumen<span class="_ _5"/>ts at fair<span class="_ _5"/> <span class="_ _5"/>value thr<span class="_ _5"/>ough OCI include investments in quot<span class="_ _5"/>ed debt instruments and ar<span class="_ _5"/>e included <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">under<span class="_ _5"/> Securities in the balance sheet.<span class="_ _5"/> Inter<span class="_ _5"/>est income,<span class="_ _5"/> for<span class="_ _5"/>eign exchange re<span class="_ _5"/>valuation and impairment<span class="_ _5"/> losses or<span class="_ _5"/> reversals<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _5"/>ecognised in <span class="_ _5"/>the income statement and comput<span class="_ _5"/>ed in the same manner<span class="_ _5"/> as for<span class="_ _5"/> financial assets measur<span class="_ _5"/>ed at amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost. <span class="_ _5"/>The remaining f<span class="_ _5"/>air<span class="_ _5"/> value changes ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised in OCI. Upon<span class="_ _5"/> derecognition,<span class="_ _5"/> the cumulativ<span class="_ _5"/>e fair<span class="_ _5"/> value chang<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">recognised in OCI is recycled <span class="_ _5"/>to profit<span class="_ _5"/> or<span class="_ _5"/> loss.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.<span class="_ _5"/>1 <span class="_"> </span>T<span class="_ _f"/>ax and deferr<span class="_ _5"/>ed tax</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:630.796875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 176.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax recognised in the income statement</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.613px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax on profits for the year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">500</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">595</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustment f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax of prior</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> periods</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-65</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Utilisation of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eviously unr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-169</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.502px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal current</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 392.284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">361</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Origination and re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">versal of tempor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ary diff</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erences</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-43</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustment f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax of prior periods</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-70</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-38</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognition of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eviously</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> unrecognised de</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 569.572px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reassessment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of recover</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ability of def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.844px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 569.508px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-42</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.561px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal income tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">450</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">319</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">onnage and freight </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">135</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 218.248px; width: 569.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal tax expense</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">584</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">454</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.045px; width: 78.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax reconciliation</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.936px; width: 569.666px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit/loss befor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6,816</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,362</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.826px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit/loss subject</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> to Danish and f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">oreign </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tonnage taxa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5,283</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,526</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.717px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit/loss in joint </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ventur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.982px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-151</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 307.592px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit/loss in associated companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-218</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-287</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 322.482px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit/loss befor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax, adjusted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.893px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,164</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.279px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax using the Danish corporation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate (22%)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">257</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">309</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.17px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax rate deviations in f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">oreign jurisdictions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 278.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 382.061px; width: 569.883px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pillar</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">wo tax expenses</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 396.951px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-taxable income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 411.826px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-deductible expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 360.955px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">65</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 426.717px; width: 569.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustment t</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o previous years’</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-103</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 441.607px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecover</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ability of prior</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> years’</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> deferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-130</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 456.498px; width: 569.9px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">New deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax asset not</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.982px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 471.389px; width: 569.426px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Withholding taxes</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">156</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 486.279px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> differences, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.123px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 501.17px; width: 569.561px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal income tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">450</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">319</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 530.951px; width: 569.473px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Effective tax ra</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 386.175px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">8.6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10.4%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 560.748px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax recognised in other compr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income and equity</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 590.529px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 605.42px; width: 569.812px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 423.409px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 620.311px; width: 569.801px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 423.851px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:215.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 368.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred tax assets and liabilities ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e attributable t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o the fol</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">lowing:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 180.781px; top: 24.6855px; width: 352.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Net liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 49.3574px; width: 408.469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.0293px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.5469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">552</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">561</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">511</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">521</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.9199px; width: 94.2305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.92px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">304</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">278</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">262</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">238</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.7852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-106</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.1642px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">270</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">48</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-180</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-207</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.592px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-75</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.482px; width: 569.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">143</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">96</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.373px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">620</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">560</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,089</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">983</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.264px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Offsets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.736px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-217</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-217</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 205.154px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">365</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">343</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">834</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">766</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax, net, during </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the year</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.371px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.76px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.57px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">423</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">484</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4824px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 402.896px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.373px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 335.18px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.2637px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 390.469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-26</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1543px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.001px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 570.012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.697px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 453.69px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 305.59px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-42</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 570.018px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> to held f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> including business combinations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.137px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.389px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.062px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unreco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised deferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.893px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.42px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deductible tempor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ary differences</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">599</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">780</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 570.059px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unused tax credits</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 399.668px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 448.335px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">711</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">895</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The unreco<span class="_ _5"/>gnised deferred <span class="_ _5"/>tax assets have no significant<span class="_ _5"/> time limitations.<span class="_ _5"/> <span class="_ _5"/>There are no substan<span class="_ _5"/>tial unrecognised <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities on investments in<span class="_ _5"/> subsidiaries, associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement has been<span class="_ _5"/> applied with respect<span class="_ _5"/> to Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability <span class="_ _5"/>to utilise deferr<span class="_ _5"/>ed tax assets.<span class="_ _5"/> Management c<span class="_ _5"/>on-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">siders the lik<span class="_ _5"/>elihood of utilisation based on <span class="_ _5"/>the latest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business plans and the r<span class="_ _5"/>ecent financial perf<span class="_ _5"/>ormances of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual entities.<span class="_ _5"/> Net deferr<span class="_ _5"/>ed tax assets r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in entities having r<span class="_ _5"/>ecognised an accounting loss in<span class="_ _5"/> either </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the current<span class="_ _5"/> or<span class="_ _5"/> preceding period amount<span class="_ _5"/> to USD 18<span class="_ _5"/>1m (USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">156m). <span class="_ _5"/>These assets mainly<span class="_ _5"/> relate <span class="_ _5"/>to unused tax los<span class="_ _5"/>ses </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> deductible tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences gener<span class="_ _5"/>ated during </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the construction of t<span class="_ _5"/>erminals, <span class="_ _5"/>where taxable pr<span class="_ _5"/>ofits have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been gener<span class="_ _5"/>ated either<span class="_ _5"/> in the curr<span class="_ _5"/>ent period or<span class="_ _5"/> ar<span class="_ _5"/>e ex-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected t<span class="_ _5"/>o be generat<span class="_ _5"/>ed within the f<span class="_ _5"/>oreseeable futur<span class="_ _5"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _5"/> tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _5"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _5"/> Deferred <span class="_ _5"/>tax is not r<span class="_ _5"/>ecognised for<span class="_ _5"/> differ<span class="_ _5"/>ences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _5"/>ecognition of assets or<span class="_ _5"/> liabilities,<span class="_ _5"/> wher<span class="_ _5"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _5"/> accounting <span class="_ _8"/>nor<span class="_ _5"/> tax<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able profit/loss is aff<span class="_ _5"/>ected, unless <span class="_ _5"/>the differ<span class="_ _5"/>ences arise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a business combination.<span class="_ _5"/> In addition,<span class="_ _5"/> no deferred <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _5"/>gnised for<span class="_ _5"/> undistributed earnings in subsidiaries,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when Maersk contr<span class="_ _5"/>ols the timing of dividends<span class="_ _5"/>. No <span class="_ _5"/>taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends are curr<span class="_ _5"/>ently e<span class="_ _5"/>xpected. <span class="_ _5"/>A<span class="_ _5"/> deferred <span class="_ _5"/>tax asset is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised to <span class="_ _5"/>the extent <span class="_ _5"/>that it<span class="_ _5"/> is probable <span class="_ _5"/>that it can<span class="_ _5"/> be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">utilised within a f<span class="_ _5"/>oreseeable future<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Maersk applies the IAS 12 e<span class="_ _5"/>xception t<span class="_ _5"/>o recognising and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing information about<span class="_ _5"/> deferred <span class="_ _5"/>tax assets and lia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bilities relat<span class="_ _5"/>ed to Pillar<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>wo income taxes<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.<span class="_ _5"/>1 <span class="_"> </span>T<span class="_ _f"/>ax and deferr<span class="_ _5"/>ed tax</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:630.796875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 0.0136718px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 176.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax recognised in the income statement</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.613px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax on profits for the year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">500</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">595</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 569.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustment f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or curr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ent </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax of prior</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> periods</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-65</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Utilisation of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eviously unr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecognised deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.514px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-169</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 569.502px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal current</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 392.284px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">401</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">361</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 569.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Origination and re</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">versal of tempor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ary diff</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erences</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-43</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustment f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax of prior periods</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-70</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-38</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognition of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eviously</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> unrecognised de</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.783px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 569.572px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Reassessment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of recover</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ability of def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.844px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 569.508px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-42</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 569.561px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal income tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">450</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">319</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 569.438px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">onnage and freight </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">135</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 218.248px; width: 569.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal tax expense</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">584</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">454</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 248.045px; width: 78.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax reconciliation</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 262.936px; width: 569.666px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit/loss befor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6,816</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,362</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 277.826px; width: 569.484px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit/loss subject</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> to Danish and f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">oreign </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tonnage taxa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tion, etc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.547px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5,283</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2,526</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 292.717px; width: 569.42px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit/loss in joint </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ventur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.982px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-151</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 307.592px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share of pr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ofit/loss in associated companies</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-218</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-287</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 322.482px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Profit/loss befor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e tax, adjusted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.893px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,164</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,401</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 352.279px; width: 569.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax using the Danish corporation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate (22%)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.492px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">257</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">309</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 367.17px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax rate deviations in f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">oreign jurisdictions</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 278.654px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">66</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 382.061px; width: 569.883px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pillar</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">wo tax expenses</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.275px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">18</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 396.951px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-taxable income</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.539px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-39</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 411.826px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Non-deductible expenses</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 360.955px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">65</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 426.717px; width: 569.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Adjustment t</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o previous years’</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.527px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-79</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-103</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 441.607px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ecover</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ability of prior</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> years’</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> deferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-56</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-130</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 456.498px; width: 569.9px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">New deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax asset not</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> reco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.982px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">34</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 471.389px; width: 569.426px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Withholding taxes</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">156</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.5605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">107</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 486.279px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> differences, net</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.123px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 501.17px; width: 569.561px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal income tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.461px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">450</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">319</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 530.951px; width: 569.473px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Effective tax ra</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 386.175px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">8.6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10.4%</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 560.748px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax recognised in other compr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ehensive income and equity</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.639px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 590.529px; width: 40.623px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Of</span><span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff33; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> which:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 605.42px; width: 569.812px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Current</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 423.409px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-24</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 620.311px; width: 569.801px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deferr</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 423.851px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">-1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-4</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:215.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 368.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred tax assets and liabilities ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e attributable t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o the fol</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">lowing:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 180.781px; top: 24.6855px; width: 352.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Net liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 49.3574px; width: 408.469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.0293px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.5469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">552</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">561</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">511</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">521</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.9199px; width: 94.2305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.92px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">304</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">278</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">262</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">238</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.7852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-106</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.1642px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">270</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">48</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-180</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-207</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.592px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-75</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.482px; width: 569.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">143</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">96</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.373px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">620</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">560</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,089</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">983</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.264px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Offsets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.736px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-217</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-217</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 205.154px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">365</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">343</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">834</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">766</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax, net, during </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the year</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.371px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.76px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.57px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">423</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">484</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4824px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 402.896px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.373px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 335.18px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.2637px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 390.469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-26</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1543px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.001px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 570.012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.697px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 453.69px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 305.59px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-42</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 570.018px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> to held f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> including business combinations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.137px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.389px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.062px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unreco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised deferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.893px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.42px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deductible tempor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ary differences</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">599</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">780</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 570.059px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unused tax credits</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 399.668px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 448.335px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">711</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">895</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The unreco<span class="_ _5"/>gnised deferred <span class="_ _5"/>tax assets have no significant<span class="_ _5"/> time limitations.<span class="_ _5"/> <span class="_ _5"/>There are no substan<span class="_ _5"/>tial unrecognised <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities on investments in<span class="_ _5"/> subsidiaries, associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>axation of activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As a global inte<span class="_ _5"/>grator<span class="_ _5"/> of container<span class="_ _5"/> lo<span class="_ _5"/>gistics, Maersk gener<span class="_ _5"/>ates pr<span class="_ _5"/>ofits from ocean,<span class="_ _5"/> air<span class="_ _5"/> and land-based activities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The land-based activities,<span class="_ _5"/> which ar<span class="_ _5"/>e subject t<span class="_ _5"/>o normal corporat<span class="_ _5"/>e income tax,<span class="_ _5"/> include terminals<span class="_ _5"/>, logistics<span class="_ _5"/>, services and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shipping agencies thr<span class="_ _5"/>ough which <span class="_ _5"/>the Group oper<span class="_ _5"/>ate one of the <span class="_ _5"/>world’s most<span class="_ _5"/> comprehensive port<span class="_ _5"/> and integr<span class="_ _5"/>ated lo<span class="_ _5"/>gistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service networks.<span class="_ _5"/> The lo<span class="_ _5"/>gistics products include tr<span class="_ _5"/>ansportation,<span class="_ _5"/> war<span class="_ _5"/>ehousing and distribution including cold stor<span class="_ _5"/>age,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">customs services and supply chain managemen<span class="_ _5"/>t services.<span class="_ _5"/> This e<span class="_ _5"/>xpanding land-based activity has prompt<span class="_ _5"/>ed the establish-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment and acquisition<span class="_ _5"/> of entities in numerous countries<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>On the ocean, Maersk mo<span class="_ _5"/>ves millions of <span class="_ _5"/>TEUs every <span class="_ _5"/>year<span class="_ _5"/> and operat<span class="_ _5"/>es hundreds of v<span class="_ _5"/>essels delivering cargo <span class="_ _5"/>to every<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corner<span class="_ _5"/> of the globe,<span class="_ _5"/> including dry car<span class="_ _5"/>go commodities,<span class="_ _5"/> refriger<span class="_ _5"/>ated car<span class="_ _5"/>go and dangerous car<span class="_ _5"/>go.<span class="_ _5"/> This ocean<span class="_ _5"/> activity<span class="_ _5"/>, <span class="_ _5"/>which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repr<span class="_ _5"/>esents the <span class="_ _5"/>vast majority<span class="_ _5"/> of the Gr<span class="_ _5"/>oup’s curr<span class="_ _5"/>ent r<span class="_ _5"/>evenues,<span class="_ _5"/> may<span class="_ _5"/> be subject t<span class="_ _5"/>o special shipping tax rules,<span class="_ _5"/> including ton<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nage and freight<span class="_ _5"/> taxes<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Global Minimum T<span class="_ _0"/>axation (OECD<span class="_ _5"/> Pillar<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>wo)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In an effort<span class="_ _5"/> to end <span class="_ _5"/>tax avoidance and <span class="_ _5"/>to address concerns about<span class="_ _5"/> the er<span class="_ _5"/>osion of the global corpor<span class="_ _5"/>ate <span class="_ _5"/>tax base, a<span class="_ _5"/> global </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">frame<span class="_ _5"/>work for<span class="_ _5"/> corporat<span class="_ _5"/>e taxation has been f<span class="_ _5"/>ormed by <span class="_ _5"/>the OECD/G20 Inclusive Fr<span class="_ _5"/>amework.<span class="_ _5"/> One of the k<span class="_ _5"/>ey elemen<span class="_ _5"/>ts is to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">introduce a<span class="_ _5"/> global minimum tax r<span class="_ _5"/>ate of 15%,<span class="_ _5"/> based on group accounting inc<span class="_ _5"/>ome per jurisdiction.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>The minimum tax rules are designed as a hier<span class="_ _5"/>archy<span class="_ _5"/> of the right<span class="_ _5"/> to claim<span class="_ _5"/> income tax.<span class="_ _5"/> If the income is not subject<span class="_ _5"/> to a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">minimum effective tax r<span class="_ _5"/>ate of 15% in <span class="_ _5"/>the country wher<span class="_ _5"/>e it is earned,<span class="_ _5"/> then <span class="_ _5"/>the remaining <span class="_ _5"/>tax payment (t<span class="_ _5"/>op-up tax) can be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">picked up by<span class="_ _5"/> another<span class="_ _5"/> jurisdiction where <span class="_ _5"/>the Group is active<span class="_ _5"/>. For<span class="_ _5"/> <span class="_ _5"/>the Group,<span class="_ _5"/> Denmark will add <span class="_ _5"/>top-up tax if not<span class="_ _5"/> applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">loca<span class="_ _8"/>lly as the ul<span class="_ _5"/>timate paren<span class="_ _5"/>t entity<span class="_ _5"/> of the Group<span class="_ _5"/>, <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> is located in Denmark.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>The Danish implementation<span class="_ _5"/> of Council Directive (EU) 2022/2523 of 14 December<span class="_ _5"/> 2022 is effectiv<span class="_ _5"/>e from 1 <span class="_ _5"/>January 2024<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This means that<span class="_ _5"/> Maersk’s income is subject<span class="_ _5"/> to <span class="_ _5"/>the minimum tax rules f<span class="_ _5"/>or al<span class="_ _5"/>l jurisdictions via Danish implemen<span class="_ _5"/>tation for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _8"/>financial year<span class="_ _5"/> 202<span class="_ _5"/>4 and onwar<span class="_ _5"/>ds. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Because the Danish<span class="_ _5"/> implementation covers <span class="_ _5"/>the Group’<span class="_ _5"/>s global activities,<span class="_ _5"/> it is not<span class="_ _5"/> expected tha<span class="_ _5"/>t other<span class="_ _5"/> national implemen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations will ha<span class="_ _5"/>ve a significant additional impact<span class="_ _5"/> on the global <span class="_ _5"/>tax payments of the Gr<span class="_ _5"/>oup.<span class="_ _5"/> It may<span class="_ _5"/>,<span class="_ _5"/> howev<span class="_ _5"/>er<span class="_ _5"/>,<span class="_ _5"/> have an impact<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the location<span class="_ _5"/> where poten<span class="_ _5"/>tial top-up <span class="_ _5"/>taxes will be paid.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Thr<span class="_ _5"/>ee elements are k<span class="_ _5"/>ey <span class="_ _5"/>to understanding how the rules wil<span class="_ _5"/>l impact <span class="_ _5"/>the Group.<span class="_ _5"/> First, <span class="_ _5"/>the Group does not<span class="_ _5"/> set up artificial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structures in low<span class="_ _5"/>-tax jurisdictions f<span class="_ _5"/>or<span class="_ _5"/> tax purposes or<span class="_ _5"/> earn significant pr<span class="_ _5"/>ofits in such jurisdictions,<span class="_ _5"/> which means <span class="_ _5"/>that <span class="_ _5"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group'<span class="_ _5"/>s business structure itsel<span class="_ _5"/>f is not impacted significantl<span class="_ _5"/>y by<span class="_ _5"/> the rules,<span class="_ _5"/> but some additional <span class="_ _5"/>tax may become pay<span class="_ _5"/>able </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _8"/>services are pr<span class="_ _5"/>ovided in low<span class="_ _5"/>-tax jurisdictions.<span class="_ _5"/> Second,<span class="_ _5"/> tax incentives giv<span class="_ _5"/>en to capital pr<span class="_ _5"/>ojects,<span class="_ _5"/> such as critical infra-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stru<span class="_ _5"/>ctur<span class="_ _5"/>e,<span class="_ _5"/> wil<span class="_ _5"/>l be considered less eff<span class="_ _5"/>ective going forwar<span class="_ _5"/>d as it wil<span class="_ _5"/>l impact the e<span class="_ _5"/>ffective tax r<span class="_ _5"/>ate and <span class="_ _5"/>thereby<span class="_ _5"/> the basis for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">potential <span class="_ _5"/>top-up tax.<span class="_ _5"/> Thir<span class="_ _5"/>d, al<span class="_ _5"/>though the rules exclude <span class="_ _0"/>‘international shipping income’<span class="_ _5"/>,<span class="_ _5"/> the definition is mor<span class="_ _5"/>e restrictive<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">than th<span class="_ _8"/>e global definitions usually applied under<span class="_ _5"/> a <span class="_ _5"/>tax tr<span class="_ _5"/>eaty fol<span class="_ _5"/>lowing the OECD Model <span class="_ _5"/>T<span class="_ _0"/>ax Convention or<span class="_ _5"/> under<span class="_ _5"/> Danish </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tonnage tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Also, inland tr<span class="_ _5"/>ansportation is not<span class="_ _5"/> a part of <span class="_ _5"/>the international shipping income under<span class="_ _5"/> the global minimum<span class="_ _5"/> tax rules.<span class="_ _5"/> This<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is relev<span class="_ _5"/>ant f<span class="_ _5"/>or <span class="_ _5"/>the part of <span class="_ _5"/>the Group'<span class="_ _5"/>s land tr<span class="_ _5"/>ansport link<span class="_ _5"/>ed directly<span class="_ _5"/> to oc<span class="_ _5"/>ean tr<span class="_ _5"/>ansportation which is r<span class="_ _5"/>ecognised as ship<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ping income for<span class="_ _5"/> tax <span class="_ _5"/>treatment<span class="_ _5"/> in the OECD<span class="_ _5"/> Model T<span class="_ _0"/>ax Convention.<span class="_ _5"/> The Gr<span class="_ _5"/>oup awaits further<span class="_ _5"/> guidance on <span class="_ _5"/>the application </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the shipping income pr<span class="_ _5"/>ovision from<span class="_ _5"/> the OECD Secr<span class="_ _5"/>etariat. Con<span class="_ _5"/>trary<span class="_ _5"/> to <span class="_ _5"/>the purpose of the rules,<span class="_ _5"/> top-up <span class="_ _5"/>tax could be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">triggered b<span class="_ _5"/>y the shipping classification<span class="_ _5"/> in years <span class="_ _5"/>where shipping net income is ne<span class="_ _5"/>gative.<span class="_ _5"/> Due t<span class="_ _5"/>o the design of <span class="_ _5"/>tonnage tax<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ation<span class="_ _8"/>, the Group’<span class="_ _5"/>s effective <span class="_ _5"/>tax rat<span class="_ _5"/>e fluctuates significantly<span class="_ _5"/> depending on the <span class="_ _5"/>yearly<span class="_ _5"/> results<span class="_ _5"/>. In accor<span class="_ _5"/>dance with <span class="_ _5"/>the Global </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Mini<span class="_ _5"/>mum <span class="_ _5"/>T<span class="_ _0"/>axation rules,<span class="_ _5"/> the effective <span class="_ _5"/>tax ra<span class="_ _5"/>te is calculated on a consolidat<span class="_ _5"/>ed basis also including non-shipping activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the<span class="_ _8"/> in<span class="_ _8"/>dividual countries.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>For 2024<span class="_ _5"/>, <span class="_ _5"/>the Group <span class="_ _5"/>top-up tax expense global<span class="_ _5"/>ly amount<span class="_ _5"/>ed to USD 18m,<span class="_ _5"/> which is in line <span class="_ _5"/>with the expectations shar<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">last <span class="_ _5"/>year<span class="_ _5"/>,<span class="_ _5"/> and is included in t<span class="_ _5"/>otal current<span class="_ _5"/> tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _3"> </span>SIGNIFICANT AC<span class="_ _5"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement has been<span class="_ _5"/> applied with respect<span class="_ _5"/> to Maersk’<span class="_ _5"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ability <span class="_ _5"/>to utilise deferr<span class="_ _5"/>ed tax assets.<span class="_ _5"/> Management c<span class="_ _5"/>on-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">siders the lik<span class="_ _5"/>elihood of utilisation based on <span class="_ _5"/>the latest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business plans and the r<span class="_ _5"/>ecent financial perf<span class="_ _5"/>ormances of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the individual entities.<span class="_ _5"/> Net deferr<span class="_ _5"/>ed tax assets r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in entities having r<span class="_ _5"/>ecognised an accounting loss in<span class="_ _5"/> either </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the current<span class="_ _5"/> or<span class="_ _5"/> preceding period amount<span class="_ _5"/> to USD 18<span class="_ _5"/>1m (USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">156m). <span class="_ _5"/>These assets mainly<span class="_ _5"/> relate <span class="_ _5"/>to unused tax los<span class="_ _5"/>ses </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _5"/> deductible tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences gener<span class="_ _5"/>ated during </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the construction of t<span class="_ _5"/>erminals, <span class="_ _5"/>where taxable pr<span class="_ _5"/>ofits have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been gener<span class="_ _5"/>ated either<span class="_ _5"/> in the curr<span class="_ _5"/>ent period or<span class="_ _5"/> ar<span class="_ _5"/>e ex-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected t<span class="_ _5"/>o be generat<span class="_ _5"/>ed within the f<span class="_ _5"/>oreseeable futur<span class="_ _5"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Uncertain tax positions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk is engaged in a number<span class="_ _5"/> of disputes <span class="_ _5"/>with tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">authorities of v<span class="_ _5"/>arying scope. <span class="_ _5"/>Appropria<span class="_ _5"/>te provisions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnition of uncertain tax positions ha<span class="_ _5"/>ve been made </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _5"/>the probability o<span class="_ _5"/>f the tax position being upheld </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in individual cases is considered less <span class="_ _5"/>than 50%.<span class="_ _5"/> Claims </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> which <span class="_ _5"/>the probability of Maersk’<span class="_ _5"/>s <span class="_ _5"/>tax position being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upheld is assessed by Manag<span class="_ _5"/>ement t<span class="_ _5"/>o be at least<span class="_ _5"/> 50%, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are not<span class="_ _5"/> provided for<span class="_ _0"/>. Such risks ar<span class="_ _5"/>e instead ev<span class="_ _5"/>aluated on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a portfolio basis by<span class="_ _5"/> geogr<span class="_ _5"/>aphical area and coun<span class="_ _5"/>try risk.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions and uncertain<span class="_ _5"/> tax liabilities are r<span class="_ _5"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the aggr<span class="_ _5"/>egat<span class="_ _5"/>ed probability of <span class="_ _5"/>the tax position being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upheld is considered less <span class="_ _5"/>than 50%.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _8"/>x<span class="_ _10"/><span class="ff3 ls0 ws0"> comprises an estimate of curr<span class="_ _5"/>ent and def<span class="_ _5"/>erred in-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _8"/>adjustments to previous years taxes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _5"/>tax on taxable pr<span class="_ _5"/>ofits, and c<span class="_ _5"/>onsists of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corpora<span class="_ _5"/>tion tax,<span class="_ _5"/> withholding tax of dividends<span class="_ _5"/>, etc.<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>ax is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t t<span class="_ _5"/>o the extent<span class="_ _5"/> that<span class="_ _5"/> it </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arises from it<span class="_ _5"/>ems recognised in <span class="_ _5"/>the income statement,<span class="_ _5"/> in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding tax on gains on<span class="_ _5"/> intra-gr<span class="_ _5"/>oup tr<span class="_ _5"/>ansactions that<span class="_ _5"/> have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been eliminated in <span class="_ _5"/>the consolidation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _5"/> tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _5"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _5"/> Deferred <span class="_ _5"/>tax is not r<span class="_ _5"/>ecognised for<span class="_ _5"/> differ<span class="_ _5"/>ences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _5"/>ecognition of assets or<span class="_ _5"/> liabilities,<span class="_ _5"/> wher<span class="_ _5"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _5"/> accounting <span class="_ _8"/>nor<span class="_ _5"/> tax<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able profit/loss is aff<span class="_ _5"/>ected, unless <span class="_ _5"/>the differ<span class="_ _5"/>ences arise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a business combination.<span class="_ _5"/> In addition,<span class="_ _5"/> no deferred <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _5"/>gnised for<span class="_ _5"/> undistributed earnings in subsidiaries,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when Maersk contr<span class="_ _5"/>ols the timing of dividends<span class="_ _5"/>. No <span class="_ _5"/>taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends are curr<span class="_ _5"/>ently e<span class="_ _5"/>xpected. <span class="_ _5"/>A<span class="_ _5"/> deferred <span class="_ _5"/>tax asset is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised to <span class="_ _5"/>the extent <span class="_ _5"/>that it<span class="_ _5"/> is probable <span class="_ _5"/>that it can<span class="_ _5"/> be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">utilised within a f<span class="_ _5"/>oreseeable future<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Maersk applies the IAS 12 e<span class="_ _5"/>xception t<span class="_ _5"/>o recognising and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing information about<span class="_ _5"/> deferred <span class="_ _5"/>tax assets and lia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bilities relat<span class="_ _5"/>ed to Pillar<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>wo income taxes<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:215.640625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 368.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised def</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erred tax assets and liabilities ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e attributable t</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o the fol</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">lowing:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 180.781px; top: 24.6855px; width: 352.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Liabilities</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Net liabilities</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 161.562px; top: 49.3574px; width: 408.469px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 74.0293px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.5469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">41</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">552</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">561</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">511</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">521</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.9199px; width: 94.2305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.92px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">42</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">40</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">304</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">278</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">262</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">238</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 569.555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.7852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">106</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-111</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-106</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.1642px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">270</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">48</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-180</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-207</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.592px; width: 569.543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-75</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.482px; width: 569.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">53</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">143</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">96</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">52</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.373px; width: 569.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.254px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">620</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">560</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,089</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">983</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.264px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Offsets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.736px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-217</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-255</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-217</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 205.154px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">365</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">343</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">834</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">766</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Change in deferr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed tax, net, during </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the year</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.371px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.76px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.57px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">423</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">484</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4824px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Intangible assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 402.896px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-2</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.9042px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.373px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Property, plant</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and equipment</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 335.18px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">26</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 84.2637px; width: 569.754px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Right</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-of-use assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 390.469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-8</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-26</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 99.1543px; width: 569.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Provisions, et</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">c.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.001px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">21</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 570.012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.697px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-29</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.7892px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 569.748px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 453.69px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-11</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 569.66px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Recognised in </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the income statement</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 305.59px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-42</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 570.018px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ansfer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> to held f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">or sale</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Other</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> including business combinations</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.137px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.2969px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-44</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.389px; width: 569.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 410.062px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">469</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">423</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unreco</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gnised deferred </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tax assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.893px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 569.42px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Deductible tempor</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ary differences</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 315.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">103</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">103</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 569.408px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ax loss carry-forwar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.002px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">599</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">780</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 570.059px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Unused tax credits</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 399.668px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 569.479px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 448.335px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">711</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">895</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The unreco<span class="_ _5"/>gnised deferred <span class="_ _5"/>tax assets have no significant<span class="_ _5"/> time limitations.<span class="_ _5"/> <span class="_ _5"/>There are no substan<span class="_ _5"/>tial unrecognised <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities on investments in<span class="_ _5"/> subsidiaries, associa<span class="_ _5"/>ted companies and joint <span class="_ _5"/>ventures<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _8"/>x<span class="_ _10"/><span class="ff3 ls0 ws0"> comprises an estimate of curr<span class="_ _5"/>ent and def<span class="_ _5"/>erred in-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _8"/>adjustments to previous years taxes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _5"/>tax on taxable pr<span class="_ _5"/>ofits, and c<span class="_ _5"/>onsists of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corpora<span class="_ _5"/>tion tax,<span class="_ _5"/> withholding tax of dividends<span class="_ _5"/>, etc.<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>ax is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t t<span class="_ _5"/>o the extent<span class="_ _5"/> that<span class="_ _5"/> it </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arises from it<span class="_ _5"/>ems recognised in <span class="_ _5"/>the income statement,<span class="_ _5"/> in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding tax on gains on<span class="_ _5"/> intra-gr<span class="_ _5"/>oup tr<span class="_ _5"/>ansactions that<span class="_ _5"/> have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been eliminated in <span class="_ _5"/>the consolidation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _8"/>x<span class="_ _10"/><span class="ff3 ls0 ws0"> comprises an estimate of curr<span class="_ _5"/>ent and def<span class="_ _5"/>erred in-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _8"/>adjustments to previous years taxes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _5"/>tax on taxable pr<span class="_ _5"/>ofits, and c<span class="_ _5"/>onsists of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corpora<span class="_ _5"/>tion tax,<span class="_ _5"/> withholding tax of dividends<span class="_ _5"/>, etc.<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>ax is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised in the income statemen<span class="_ _5"/>t t<span class="_ _5"/>o the extent<span class="_ _5"/> that<span class="_ _5"/> it </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arises from it<span class="_ _5"/>ems recognised in <span class="_ _5"/>the income statement,<span class="_ _5"/> in-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding tax on gains on<span class="_ _5"/> intra-gr<span class="_ _5"/>oup tr<span class="_ _5"/>ansactions that<span class="_ _5"/> have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been eliminated in <span class="_ _5"/>the consolidation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _5"/> tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _5"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _5"/> Deferred <span class="_ _5"/>tax is not r<span class="_ _5"/>ecognised for<span class="_ _5"/> differ<span class="_ _5"/>ences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _5"/>ecognition of assets or<span class="_ _5"/> liabilities,<span class="_ _5"/> wher<span class="_ _5"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _5"/> accounting <span class="_ _8"/>nor<span class="_ _5"/> tax<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able profit/loss is aff<span class="_ _5"/>ected, unless <span class="_ _5"/>the differ<span class="_ _5"/>ences arise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a business combination.<span class="_ _5"/> In addition,<span class="_ _5"/> no deferred <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _5"/>gnised for<span class="_ _5"/> undistributed earnings in subsidiaries,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when Maersk contr<span class="_ _5"/>ols the timing of dividends<span class="_ _5"/>. No <span class="_ _5"/>taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends are curr<span class="_ _5"/>ently e<span class="_ _5"/>xpected. <span class="_ _5"/>A<span class="_ _5"/> deferred <span class="_ _5"/>tax asset is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised to <span class="_ _5"/>the extent <span class="_ _5"/>that it<span class="_ _5"/> is probable <span class="_ _5"/>that it can<span class="_ _5"/> be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">utilised within a f<span class="_ _5"/>oreseeable future<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Maersk applies the IAS 12 e<span class="_ _5"/>xception t<span class="_ _5"/>o recognising and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing information about<span class="_ _5"/> deferred <span class="_ _5"/>tax assets and lia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bilities relat<span class="_ _5"/>ed to Pillar<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>wo income taxes<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _5"/> tempor<span class="_ _5"/>ary differ<span class="_ _5"/>ences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _5"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _5"/> Deferred <span class="_ _5"/>tax is not r<span class="_ _5"/>ecognised for<span class="_ _5"/> differ<span class="_ _5"/>ences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _5"/>ecognition of assets or<span class="_ _5"/> liabilities,<span class="_ _5"/> wher<span class="_ _5"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _5"/> accounting <span class="_ _8"/>nor<span class="_ _5"/> tax<span class="ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able profit/loss is aff<span class="_ _5"/>ected, unless <span class="_ _5"/>the differ<span class="_ _5"/>ences arise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in a business combination.<span class="_ _5"/> In addition,<span class="_ _5"/> no deferred <span class="_ _5"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _5"/>gnised for<span class="_ _5"/> undistributed earnings in subsidiaries,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when Maersk contr<span class="_ _5"/>ols the timing of dividends<span class="_ _5"/>. No <span class="_ _5"/>taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends are curr<span class="_ _5"/>ently e<span class="_ _5"/>xpected. <span class="_ _5"/>A<span class="_ _5"/> deferred <span class="_ _5"/>tax asset is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _5"/>gnised to <span class="_ _5"/>the extent <span class="_ _5"/>that it<span class="_ _5"/> is probable <span class="_ _5"/>that it can<span class="_ _5"/> be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">utilised within a f<span class="_ _5"/>oreseeable future<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _63"> </span>Maersk applies the IAS 12 e<span class="_ _5"/>xception t<span class="_ _5"/>o recognising and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing information about<span class="_ _5"/> deferred <span class="_ _5"/>tax assets and lia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">bilities relat<span class="_ _5"/>ed to Pillar<span class="_ _5"/> <span class="_ _5"/>T<span class="_ _5"/>wo income taxes<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.2 <span class="_"> </span>Shar<span class="_ _5"/>e-based payments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:188.34375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 275.125px; top: 0.0136718px; width: 59.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 361.422px; top: 0.0136718px; width: 206.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 568.203px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 268.375px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.297px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 332.359px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 302.859px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 565.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding performance shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.4748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 488.865px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 37.5293px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 301.75px; top: 88.5137px; width: 263.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2,799</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,951</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,750</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.404px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Svitz</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">221</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">414</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">635</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.295px; width: 488.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,048</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,405</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,453</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 148.076px; width: 491.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.441px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5429px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.967px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 177.857px; width: 488.971px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2,028</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,040</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,068</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The fair<span class="_ _5"/> value per<span class="_ _5"/> performance shar<span class="_ _5"/>e is equal to <span class="_ _5"/>the volume-weight<span class="_ _5"/>ed averag<span class="_ _5"/>e share price on the da<span class="_ _5"/>te of grant,<span class="_ _5"/> i.e.<span class="_ _5"/> 1 April 202<span class="_ _5"/>4, adjust<span class="_ _5"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _5"/> expected dividends during the <span class="_ _5"/>vesting period. <span class="_ _5"/>The fair<span class="_ _5"/> value per<span class="_ _5"/> performance shar<span class="_ _5"/>e is DKK 9,045 (10<span class="_ _5"/>,299) for<span class="_ _5"/> members of the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Executive Board and emplo<span class="_ _5"/>yees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>T<span class="_ _5"/>otal fair<span class="_ _5"/> value is at<span class="_ _5"/> the time of gr<span class="_ _5"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Performance shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 2023<span class="_ _5"/>,<span class="_ _5"/> performance shares ar<span class="_ _5"/>e gran<span class="_ _5"/>ted to members of <span class="_ _5"/>the Executive Board and c<span class="_ _5"/>ertain key<span class="_ _5"/> employees.<span class="_ _5"/> Each perf<span class="_ _5"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance share gr<span class="_ _5"/>anted is a right<span class="_ _5"/> to pot<span class="_ _5"/>entially<span class="_ _5"/> receive an e<span class="_ _5"/>xisting B share of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk <span class="_ _5"/>A/S.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansfer<span class="_ _5"/> of B shares is contingen<span class="_ _5"/>t upon <span class="_ _5"/>the fulfilment of certain perf<span class="_ _5"/>ormance criteria being met,<span class="_ _5"/> which may<span class="_ _5"/> include, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">but ar<span class="_ _5"/>e not limited <span class="_ _5"/>to return on<span class="_ _5"/> invested capital,<span class="_ _5"/> relative shar<span class="_ _5"/>e performance,<span class="_ _5"/> re<span class="_ _5"/>venue growth and ESG elemen<span class="_ _5"/>ts. <span class="_ _5"/>V<span class="_ _5"/>esting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also con<span class="_ _5"/>tingent upon <span class="_ _5"/>the employee still being emplo<span class="_ _5"/>yed and not under<span class="_ _5"/> notice of t<span class="_ _5"/>ermination when <span class="_ _5"/>three y<span class="_ _5"/>ears have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pass<span class="_ _8"/>ed from the dat<span class="_ _5"/>e of grant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _5"/>e not entitled t<span class="_ _5"/>o any dividends during <span class="_ _5"/>the vesting period.<span class="_ _5"/> Special conditions apply<span class="_ _5"/> regar<span class="_ _5"/>ding illness,<span class="_ _5"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _5"/>tion as well as changes in<span class="_ _5"/> the company’<span class="_ _5"/>s capital structure<span class="_ _5"/>, etc. <span class="_ _5"/>A part of <span class="_ _5"/>A.P<span class="_ _4"/>. Møller<span class="_ _5"/> - Mær<span class="_ _8"/>sk A/S<span class="_ _5"/>’<span class="_ _5"/> tr<span class="_ _5"/>easury </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">B shares wil<span class="_ _5"/>l be used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in c<span class="_ _5"/>onnection with the perf<span class="_ _5"/>ormance shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the performance shar<span class="_ _5"/>es plan is USD 6m (USD 2m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the performance shar<span class="_ _5"/>es as per 31 December<span class="_ _5"/> 202<span class="_ _5"/>4 is 1.8 years (2.3 <span class="_ _5"/>years).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:277.453125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 273.984px; top: 0.0136718px; width: 59.4082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 360.531px; top: 0.0136718px; width: 206.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal f</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 568.828px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 268.375px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 540.984px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 303px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 565.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding restricted shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.4884px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 488.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,128</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 565.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,468</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,468</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the Svitz</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">er demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">208</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.0898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,134</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.9219px; top: 117.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 118.029px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised and vested</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.672px; top: 118.045px; width: 176.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">926</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,437</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,363</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 132.186px; width: 489.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,410</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,410</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.826px; width: 488.965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancelled</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.717px; width: 488.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,898</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,922</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 192.498px; width: 488.678px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 228.486px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6,557</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">17,253</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,810</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 207.389px; width: 565.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.35px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 97.9219px; top: 222.164px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 222.279px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised and vested</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 311.672px; top: 222.295px; width: 176.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">941</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.6679px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,146</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,087</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 236.436px; width: 489.164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 281.022px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4295px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,183</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,183</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 252.076px; width: 488.965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cancelled</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.127px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 266.967px; width: 488.783px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.94px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,616</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">24,512</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30,128</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The fair<span class="_ _5"/> value per<span class="_ _5"/> restrict<span class="_ _5"/>ed share unit is equal <span class="_ _5"/>to the <span class="_ _5"/>volume-weighted av<span class="_ _5"/>erage shar<span class="_ _5"/>e price on the date of gr<span class="_ _5"/>ant,<span class="_ _5"/> i.e. 1 <span class="_ _5"/>April 2024 (1 <span class="_ _5"/>April </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023), adjusted f<span class="_ _5"/>or e<span class="_ _5"/>xpected dividends during the vesting period.<span class="_ _5"/> <span class="_ _5"/>The fair <span class="_ _5"/>value per<span class="_ _5"/> restricted shar<span class="_ _5"/>e unit is DKK 8<span class="_ _5"/>,255 (DKK 10,299) for<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">employees.<span class="_ _5"/> No restricted shar<span class="_ _5"/>e units were gr<span class="_ _5"/>anted t<span class="_ _5"/>o members of the Executive Boar<span class="_ _5"/>d in 2024 or<span class="_ _5"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>T<span class="_ _5"/>otal fair<span class="_ _5"/> value is at<span class="_ _5"/> the time of gr<span class="_ _5"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>The weighted averag<span class="_ _5"/>e share price at <span class="_ _5"/>the settlement date <span class="_ _5"/>was DKK 9,<span class="_ _5"/>045 (DKK 12,732).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shar<span class="_ _5"/>e units are gr<span class="_ _5"/>anted t<span class="_ _5"/>o members of the Executive Boar<span class="_ _5"/>d and certain ke<span class="_ _5"/>y employees<span class="_ _5"/>. Each<span class="_ _5"/> restricted shar<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">unit gr<span class="_ _5"/>anted is a right<span class="_ _5"/> to r<span class="_ _5"/>eceive an existing B shar<span class="_ _5"/>e of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _4"/>.<span class="_ _5"/> Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _5"/>r<span class="_ _5"/>ansfer<span class="_ _5"/> of B shares is contingen<span class="_ _5"/>t upon <span class="_ _5"/>the employee still being employed and not<span class="_ _5"/> under<span class="_ _5"/> notice of termination<span class="_ _5"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">takes place <span class="_ _5"/>when thr<span class="_ _5"/>ee years have passed fr<span class="_ _5"/>om the da<span class="_ _5"/>te of gran<span class="_ _5"/>t. For<span class="_ _5"/> members of the Ex<span class="_ _5"/>ecutive Board <span class="_ _5"/>the vesting peri<span class="_ _5"/>od </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is five years.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _5"/>e not entitled t<span class="_ _5"/>o any dividends during <span class="_ _5"/>the vesting period.<span class="_ _5"/> Special conditions apply<span class="_ _5"/> regar<span class="_ _5"/>ding illness,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _5"/>tion as well as changes in<span class="_ _5"/> the company’<span class="_ _5"/>s capital structure<span class="_ _5"/>, etc.<span class="_ _5"/> A<span class="_ _5"/> part of A.P<span class="_ _9"/>. Møller - Mærsk A/S’<span class="_ _0"/> treasury </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">B shares wil<span class="_ _5"/>l be used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in c<span class="_ _5"/>onnection with the r<span class="_ _5"/>estricted shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the restricted shar<span class="_ _5"/>es plan is USD 18m (USD<span class="_ _5"/> 16m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the restricted shar<span class="_ _5"/>es as per<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 is 1.5 y<span class="_ _5"/>ears (1.6 years).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:304.34375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 206.688px; top: 0.0136718px; width: 59.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Members of </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 288.703px; top: 0.0136718px; width: 206.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Employees</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 527.359px; top: 0.0136718px; width: 44.7246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal fair </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 199.938px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Executive </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 454.391px; top: 12.0137px; width: 40.125px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">exer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">cise </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 544.609px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">value</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 488.703px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 235.984px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Board</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 465.359px; top: 24.0137px; width: 23.1738px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">price</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 570.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding share options</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 122.73px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">No.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">USD million</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 493.061px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2024</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">15,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">78,626</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,787</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,318</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 569.701px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,630</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,566</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 131.689px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted in connection with </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 569.795px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">the Svitzer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> demer</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ger</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">650</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,422</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,072</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,003</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 43.7031px; top: 129.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.029px; width: 44.6602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 130.045px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,739</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,216</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">6,955</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,380</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 144.92px; width: 492.885px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,686</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,686</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,150</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 159.811px; width: 493.002px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lapsed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 225.832px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">655</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,292</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 174.701px; width: 493.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,072</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">96,121</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">110,193</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,148</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 189.592px; width: 493.131px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercisable 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.7676px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,374</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37,486</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">47,860</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10,989</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 219.389px; width: 493.061px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1 January 2023</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">19,600</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">73,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,036</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,452</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.264px; width: 569.449px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ted</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">23,323</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,257</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 43.7031px; top: 249.055px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 249.154px; width: 44.6602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercised</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 249.186px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4,439</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,697</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19,136</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,633</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 264.076px; width: 492.885px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Forfeited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.52px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,436</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,327</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 278.967px; width: 493.113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Outstanding 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0858px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15,161</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">78,626</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">93,787</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">14,318</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 293.857px; width: 493.178px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercisable 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2023</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.2656px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">22,882</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3321px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">27,184</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,309</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>The weighted av<span class="_ _5"/>erage shar<span class="_ _5"/>e price at the da<span class="_ _5"/>tes of exercise of shar<span class="_ _5"/>e options exercised <span class="_ _5"/>was DKK 12,606 (DKK 12,67<span class="_ _5"/>4).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>The weighted average e<span class="_ _5"/>xercise prices for<span class="_ _5"/> the 202<span class="_ _5"/>4 stock option movements r<span class="_ _5"/>eflect <span class="_ _5"/>the exercise prices after<span class="_ _5"/> the S<span class="_ _5"/>vitzer<span class="_ _5"/> modification. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The opening balance 1 January<span class="_ _5"/> 2024 and the 2023 compar<span class="_ _5"/>ative disclosures ha<span class="_ _5"/>ve not been r<span class="_ _5"/>estated and are based on ex<span class="_ _5"/>ercise prices </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">before <span class="_ _5"/>the Svitzer<span class="_ _5"/> modification.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share options plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk also has a share option<span class="_ _5"/> plan grant<span class="_ _5"/>ed to members of <span class="_ _5"/>the Executive Board and other<span class="_ _5"/> k<span class="_ _5"/>ey employ<span class="_ _5"/>ees. E<span class="_ _5"/>ach share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">option granted is a<span class="_ _5"/> call option t<span class="_ _5"/>o buy an existing B shar<span class="_ _5"/>e of nominal DKK 1,000 in <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options ar<span class="_ _5"/>e grant<span class="_ _5"/>ed at an ex<span class="_ _5"/>ercise price corr<span class="_ _5"/>esponding to 110% of <span class="_ _5"/>the aver<span class="_ _5"/>age of the mark<span class="_ _5"/>et price on <span class="_ _5"/>the first </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">five tr<span class="_ _5"/>ading days f<span class="_ _5"/>ollowing the r<span class="_ _5"/>elease of A.P<span class="_ _9"/>. Møl<span class="_ _5"/>ler - Mærsk <span class="_ _5"/>A/S<span class="_ _5"/>’<span class="_ _5"/> most<span class="_ _5"/> recent<span class="_ _5"/> Annual R<span class="_ _5"/>eport. Exer<span class="_ _5"/>cise of the shar<span class="_ _5"/>e options </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is contingent<span class="_ _5"/> upon the option holder<span class="_ _5"/> still being emplo<span class="_ _5"/>yed at <span class="_ _5"/>the time of v<span class="_ _5"/>esting, which<span class="_ _5"/> takes plac<span class="_ _5"/>e when thr<span class="_ _5"/>ee years hav<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _5"/>the date of gr<span class="_ _5"/>ant.<span class="_ _5"/> The shar<span class="_ _5"/>e options can then be ex<span class="_ _5"/>ercised when at<span class="_ _5"/> least <span class="_ _5"/>three y<span class="_ _5"/>ears and no more than<span class="_ _5"/> six </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years (seven <span class="_ _5"/>years for<span class="_ _5"/> share options gr<span class="_ _5"/>anted <span class="_ _5"/>to employees not<span class="_ _5"/> members of the Executive Boar<span class="_ _5"/>d) have passed fr<span class="_ _5"/>om the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date of gr<span class="_ _5"/>ant. Special c<span class="_ _5"/>onditions apply r<span class="_ _5"/>egar<span class="_ _5"/>ding illness,<span class="_ _5"/> death and resignation<span class="_ _5"/> as well as changes in <span class="_ _5"/>the company’<span class="_ _5"/>s capital </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structure etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options can onl<span class="_ _5"/>y be settled in shar<span class="_ _5"/>es. <span class="_ _5"/>A<span class="_ _5"/> part of <span class="_ _5"/>A.P<span class="_ _9"/>. Møller<span class="_ _5"/> - Mærsk A/S<span class="_ _5"/>’<span class="_ _0"/> holding of treasury<span class="_ _5"/> B shares will be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">used to meet<span class="_ _5"/> the company’<span class="_ _5"/>s obligations in<span class="_ _5"/> respect of <span class="_ _5"/>the share option plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _5"/>gnised remuner<span class="_ _5"/>ation expense rela<span class="_ _5"/>ted to <span class="_ _5"/>the share option plan is USD<span class="_ _5"/> 12m (USD 10m).<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _5"/>age remaining con<span class="_ _5"/>tractual life of <span class="_ _5"/>the outstanding share options as per<span class="_ _5"/> 31 December<span class="_ _5"/> 2024 is 4<span class="_ _5"/>.<span class="_ _5"/>1 <span class="_ _5"/>years (4.4 <span class="_ _5"/>years), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the r<span class="_ _5"/>ange of exer<span class="_ _5"/>cise prices for<span class="_ _5"/> the outstanding shar<span class="_ _5"/>e options as per 31 Dec<span class="_ _5"/>ember 202<span class="_ _5"/>4 is DKK 7<span class="_ _0"/>,271 to DKK 23<span class="_ _5"/>,994 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(DKK<span class="_ _8"/> 7<span class="_ _0"/>,605 to DKK 25<span class="_ _5"/>,096).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:200.75px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 424.471px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The following principal assumptions ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e used in the 2024 gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anted shar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e options v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">aluation:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 443.734px; top: 24.6855px; width: 121.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share options gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anted </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 525.656px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 474.109px; top: 36.6855px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">employees</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.438px; top: 61.3574px; width: 102.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 86.0293px; width: 569.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volume-weight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age at </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the date of gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ant, 1 April, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,022</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">12,732</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 412.438px; top: 100.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 100.92px; width: 412.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, five da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ys volume-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">weighted aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age after</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> publication of </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Annual Report, DKK</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 463.969px; top: 100.92px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">9,026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11,992</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 569.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercise price, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.502px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9,929</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">13,191</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olatility (based on historic </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volatility)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.119px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.6875px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 145.592px; width: 569.947px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected term (years)</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.933px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5.75</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.75</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 160.482px; width: 569.719px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected dividend per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 311.965px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.6%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.5px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5.0%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 175.373px; width: 569.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Risk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">-free inter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">est r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 360.17px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.41%</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.8085px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.65%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 190.264px; width: 572.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Fair</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">value per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> option at gr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ant da</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">te, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 2,540 </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.6502px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 3,067 </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span><span class="ws0">The exer<span class="_ _5"/>cise price was determined based on <span class="_ _5"/>the five-day <span class="_ _5"/>volume-weighted a<span class="_ _5"/>verage shar<span class="_ _5"/>e price after<span class="_ _5"/> the Annual Gener<span class="_ _5"/>al Meetings <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2024 and 2023<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>No share options were gr<span class="_ _5"/>anted to members of <span class="_ _5"/>the Executive Board in<span class="_ _5"/> 2024 and 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the options gr<span class="_ _5"/>anted is based on <span class="_ _5"/>the Black-<span class="_ _5"/>Scholes option pricing model using <span class="_ _5"/>the assumptions in the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">table above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Modification in 2024</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In May<span class="_ _5"/> 2024,<span class="_ _5"/> as a resul<span class="_ _5"/>t of <span class="_ _5"/>the demerger<span class="_ _5"/> of Svitz<span class="_ _5"/>er in<span class="_ _5"/> April 202<span class="_ _5"/>4, Maersk r<span class="_ _5"/>educed the ex<span class="_ _5"/>ercise price of <span class="_ _5"/>the outstanding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stock options and increased <span class="_ _5"/>the number<span class="_ _5"/> of stock options,<span class="_ _5"/> restricted shar<span class="_ _5"/>e units and performance shar<span class="_ _5"/>es outstanding in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">order<span class="_ _5"/> t<span class="_ _5"/>o preserve <span class="_ _5"/>the value of <span class="_ _5"/>the outstanding awar<span class="_ _5"/>ds.<span class="_ _5"/> The <span class="_ _5"/>total incremental f<span class="_ _5"/>air <span class="_ _5"/>value of <span class="_ _5"/>the options, r<span class="_ _5"/>estricted share units </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and performance shar<span class="_ _5"/>es as a result<span class="_ _5"/> of the modification<span class="_ _5"/> is USD 7<span class="_ _0"/>.5m. For<span class="_ _5"/> awar<span class="_ _5"/>ds that<span class="_ _5"/> are full<span class="_ _5"/>y <span class="_ _5"/>vested, <span class="_ _5"/>the incremental f<span class="_ _5"/>air<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value w<span class="_ _5"/>as recognised immediat<span class="_ _5"/>ely and f<span class="_ _5"/>or a<span class="_ _5"/>wards not<span class="_ _5"/> yet<span class="_ _5"/> vest<span class="_ _5"/>ed, <span class="_ _5"/>the incremental fair<span class="_ _5"/> <span class="_ _5"/>value is reco<span class="_ _5"/>gnised over<span class="_ _5"/> the period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _5"/>the modification date <span class="_ _5"/>to the <span class="_ _5"/>vesting date.<span class="_ _5"/> <span class="_ _5"/>The expense for<span class="_ _5"/> the original aw<span class="_ _5"/>ards wil<span class="_ _5"/>l continue to be r<span class="_ _5"/>ecognised as if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terms had not been<span class="_ _5"/> modified. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _5"/> v<span class="_ _5"/>alue of the modified aw<span class="_ _5"/>ards was det<span class="_ _5"/>ermined using the same models and principles as described above<span class="_ _5"/>, with<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the following diff<span class="_ _5"/>erences in inputs f<span class="_ _5"/>or st<span class="_ _5"/>ock options: </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:112.609375px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 569.607px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Share price, </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volume-weight</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed aver</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">age at </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the date of modification, 15 May</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.736px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> 11,335</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 20.4355px; width: 570.562px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Exercise price, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> Original exercise price x adjustmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t factor</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 40.8574px; width: 569.777px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">olatility (based on historic </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">volatility)</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 329.748px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.2793px; width: 369.357px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected term (years)</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.707px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 369.357px; top: 61.2793px; width: 200.35px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">80% of time r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emaining until option v</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">esting</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 81.7012px; width: 570.094px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Expected dividend per</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> share, DKK</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 388.822px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2.1%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 102.123px; width: 570.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Risk free int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erest r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ate</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Based on time r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emaining until expiry</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _5"/>-settled performance shares<span class="_ _5"/>, r<span class="_ _5"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _5"/>anted <span class="_ _5"/>to members of the Executiv<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _5"/>to employees of Maersk as part<span class="_ _5"/> of Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long-t<span class="_ _5"/>erm incentive pr<span class="_ _5"/>ogramme ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised as re<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">munera<span class="_ _5"/>tion expenses over<span class="_ _5"/> the <span class="_ _5"/>vesting period as per<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated fair<span class="_ _5"/> <span class="_ _5"/>value at <span class="_ _5"/>the gran<span class="_ _5"/>t date and r<span class="_ _5"/>esult in<span class="_ _5"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding adjustment <span class="_ _5"/>to equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the end of each r<span class="_ _5"/>eporting period, Maersk r<span class="_ _5"/>evises its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated number<span class="_ _5"/> of awar<span class="_ _5"/>ds that<span class="_ _5"/> are expect<span class="_ _5"/>ed to <span class="_ _5"/>vest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the non-mark<span class="_ _5"/>et <span class="_ _5"/>vesting conditions and service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.<span class="_ _5"/> Any<span class="_ _5"/> impact of <span class="_ _5"/>the revision is r<span class="_ _5"/>ecognised in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> with a corr<span class="_ _5"/>esponding adjustment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.3 <span class="_"> </span>Commitmen<span class="_ _5"/>ts</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:161.1875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 250.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The future charter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating lease payments ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 24.6855px; width: 107.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 370.109px; top: 24.6855px; width: 124.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unallocated </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 24.6855px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 95.3555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease commitments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 291.344px; top: 36.6855px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 36.6855px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">items</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.3574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.248px; width: 569.766px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Within one year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">358</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.1387px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">358</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.92px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.811px; width: 569.643px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Within one year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">164</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.701px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">164</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:214.296875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 0.0136718px; width: 107.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 370.109px; top: 0.0136718px; width: 124.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unallocated </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 101.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 291.344px; top: 12.0137px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 12.0137px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">items</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elating to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">acquisition of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">524</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,511</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 166.113px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Commitments towar</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds concession </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tors</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.803px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">864</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">864</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal capital commitmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,388</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,415</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elating to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.029px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">acquisition of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">98</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">363</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,813</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 166.113px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Commitments towar</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds concession </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.92px; width: 569.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tors</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.811px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal capital commitmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">98</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,416</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,866</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Short<span class="_ _5"/>-<span class="_ _5"/>term and low-<span class="_ _5"/>value leases</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As part of <span class="_ _5"/>the Group’<span class="_ _5"/>s activities,<span class="_ _5"/> customary agr<span class="_ _5"/>eements are ent<span class="_ _5"/>ered into r<span class="_ _5"/>egar<span class="_ _5"/>ding charter<span class="_ _5"/> and operating leases of <span class="_ _5"/>vessels,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">containers,<span class="_ _5"/> port facilities et<span class="_ _5"/>c. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital commitments of USD 8<span class="_ _5"/>.6bn (USD<span class="_ _5"/> 4.<span class="_ _5"/>9bn) relate <span class="_ _5"/>to investments<span class="_ _5"/>, mainly<span class="_ _5"/> within Ocean and <span class="_ _5"/>T<span class="_ _0"/>erminals. It<span class="_ _5"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 80m in r<span class="_ _5"/>espect of EUA<span class="_ _5"/> futures c<span class="_ _5"/>ontracts deliver<span class="_ _5"/>able in 2025<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Commitments relat<span class="_ _5"/>ed to <span class="_ _5"/>the newbuilding progr<span class="_ _5"/>amme ar<span class="_ _5"/>e USD 6.<span class="_ _0"/>1bn (USD 2.8bn) for<span class="_ _5"/> container<span class="_ _5"/> vessels<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:62.078125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 230.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Newbuilding pro</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gramme at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 48.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2028 and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0293px; width: 442.113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">number</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2025</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2027</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 471.844px; top: 12.0293px; width: 98.1914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">beyond</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 569.42px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Container</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> vessels</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.195px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5918px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:62.0625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 235.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elating to </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the newbuilding </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 48.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2028 and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 442.166px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">progr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">amme at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2025</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2027</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 471.844px; top: 12.0137px; width: 98.1914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">beyond</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 569.971px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Container</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> vessels</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,742</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">479</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,435</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,959</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,742</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">479</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,435</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,959</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.3 <span class="_"> </span>Commitmen<span class="_ _5"/>ts</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:161.1875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 250.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">The future charter</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> and oper</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ating lease payments ar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e:</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 24.6855px; width: 107.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 370.109px; top: 24.6855px; width: 124.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unallocated </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 24.6855px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 95.3555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Lease commitments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 291.344px; top: 36.6855px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 36.6855px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">items</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 61.3574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 76.248px; width: 569.766px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Within one year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">358</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 91.1387px; width: 569.514px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">317</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">9</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">358</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 120.92px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.811px; width: 569.643px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Within one year</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">164</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.701px; width: 569.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">129</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">164</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:214.296875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 234.75px; top: 0.0136718px; width: 107.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Ocean</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.3672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Logistics </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.7768px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 370.109px; top: 0.0136718px; width: 124.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unallocated </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 546.609px; top: 0.0136718px; width: 23.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 101.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 291.344px; top: 12.0137px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">&amp; Services</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 467.047px; top: 12.0137px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">items</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2024</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elating to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 570.059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">acquisition of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">524</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.0469px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,511</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 166.113px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Commitments towar</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds concession </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 569.525px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tors</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.803px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.2304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.0821px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">864</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.6855px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7148px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">864</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 569.666px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal capital commitmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">7,024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;"> - </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,388</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.125px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">8,415</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2023</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elating to </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 162.029px; width: 569.73px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">acquisition of non-curren</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.5998px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.252px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">98</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">363</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,813</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 176.92px; width: 166.113px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Commitments towar</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ds concession </span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 188.92px; width: 569.619px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">gran</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">tors</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.387px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.9531px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.4571px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">-</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,053</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 203.811px; width: 569.883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal capital commitmen</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ts</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.291px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,302</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">98</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,416</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9315px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">4,866</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Short<span class="_ _5"/>-<span class="_ _5"/>term and low-<span class="_ _5"/>value leases</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As part of <span class="_ _5"/>the Group’<span class="_ _5"/>s activities,<span class="_ _5"/> customary agr<span class="_ _5"/>eements are ent<span class="_ _5"/>ered into r<span class="_ _5"/>egar<span class="_ _5"/>ding charter<span class="_ _5"/> and operating leases of <span class="_ _5"/>vessels,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">containers,<span class="_ _5"/> port facilities et<span class="_ _5"/>c. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital commitments of USD 8<span class="_ _5"/>.6bn (USD<span class="_ _5"/> 4.<span class="_ _5"/>9bn) relate <span class="_ _5"/>to investments<span class="_ _5"/>, mainly<span class="_ _5"/> within Ocean and <span class="_ _5"/>T<span class="_ _0"/>erminals. It<span class="_ _5"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 80m in r<span class="_ _5"/>espect of EUA<span class="_ _5"/> futures c<span class="_ _5"/>ontracts deliver<span class="_ _5"/>able in 2025<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Commitments relat<span class="_ _5"/>ed to <span class="_ _5"/>the newbuilding progr<span class="_ _5"/>amme ar<span class="_ _5"/>e USD 6.<span class="_ _0"/>1bn (USD 2.8bn) for<span class="_ _5"/> container<span class="_ _5"/> vessels<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:62.078125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 230.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Newbuilding pro</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gramme at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 2024, </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 48.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2028 and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0293px; width: 442.113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">number</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of assets</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2025</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.3205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2027</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 471.844px; top: 12.0293px; width: 98.1914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">beyond</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 569.42px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Container</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> vessels</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.195px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5918px; width: 569.461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">11</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.1935px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.621px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.742px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">37</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:62.0625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 235.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Capital commitments r</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elating to </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">the newbuilding </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 459.219px; top: 0.0136718px; width: 48.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2028 and </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 442.166px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">progr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">amme at</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> 31 December 2024</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2025</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2026</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.881px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">2027</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 471.844px; top: 12.0137px; width: 98.1914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">beyond</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0665px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 569.971px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Container</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> vessels</span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1,742</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7636px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">479</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,435</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,959</span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 570.006px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">otal</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.074px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">1,742</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">479</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.0292px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">303</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.3477px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">3,435</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.9863px; font-size: 10.5px; font-family: ff5; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">5,959</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.4 <span class="_ _2"> </span>Contingent liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _5"/> liabilities consist of legal cases<span class="_ _5"/>, <span class="_ _5"/>tax issues,<span class="_ _5"/> custom bonds,<span class="_ _5"/> volume commitments and other<span class="_ _5"/> disputes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Legal</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is inv<span class="_ _5"/>olved in sever<span class="_ _5"/>al leg<span class="_ _5"/>al cases and other disput<span class="_ _5"/>es. Some of <span class="_ _5"/>these involv<span class="_ _5"/>e significant amounts and ar<span class="_ _5"/>e subject </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to consider<span class="_ _5"/>able uncertainty<span class="_ _5"/>.<span class="_ _5"/> Management continuousl<span class="_ _5"/>y assesses <span class="_ _5"/>the risks associated with <span class="_ _5"/>the cases and disputes,<span class="_ _5"/> and their<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">likel<span class="_ _5"/>y outcome.<span class="_ _5"/> It is <span class="_ _5"/>the opinion of Management<span class="_ _5"/> that,<span class="_ _5"/> apart fr<span class="_ _5"/>om items rec<span class="_ _5"/>ognised in the financial stat<span class="_ _5"/>ements,<span class="_ _5"/> the outcome </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of these cases and disputes ar<span class="_ _5"/>e not pr<span class="_ _5"/>obable or<span class="_ _5"/> cannot be reliabl<span class="_ _5"/>y estimated in<span class="_ _5"/> terms of amount<span class="_ _5"/> or <span class="_ _5"/>timing. <span class="_ _5"/>The Gr<span class="_ _5"/>oup does </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">not expect<span class="_ _5"/> these <span class="_ _5"/>to have a mat<span class="_ _5"/>erial impact on the c<span class="_ _5"/>onsolidated financial statements<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _10"/>x</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is subject<span class="_ _5"/> to a <span class="_ _5"/>tax audit in Germany<span class="_ _5"/> concerning allocation<span class="_ _5"/> of taxation rights <span class="_ _5"/>to shipping income between Denmark </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Germany as <span class="_ _5"/>well as t<span class="_ _5"/>o a tax investig<span class="_ _5"/>ation in India concerning a deemed suppl<span class="_ _5"/>y of services between Indian<span class="_ _5"/> GST<span class="_ _5"/> regis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tra<span class="_ _5"/>tions of Maersk in India. <span class="_ _5"/>The Group is also in<span class="_ _5"/>volved in <span class="_ _5"/>various other<span class="_ _5"/> tax disputes including indir<span class="_ _5"/>ect <span class="_ _5"/>tax disputes,<span class="_ _5"/> some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of which inv<span class="_ _5"/>olve significant amoun<span class="_ _5"/>ts. Manag<span class="_ _5"/>ement continuousl<span class="_ _5"/>y assesses the risk<span class="_ _5"/>s associated with <span class="_ _5"/>tax disputes and their<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">likel<span class="_ _5"/>y outcome and considers <span class="_ _5"/>the risk related <span class="_ _5"/>to these disput<span class="_ _5"/>es remote and <span class="_ _5"/>therefor<span class="_ _5"/>e does not expect<span class="_ _5"/> these <span class="_ _5"/>to have a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">material impact<span class="_ _5"/> on the consolidated financial sta<span class="_ _5"/>tements.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Through participation in a joint<span class="_ _5"/> taxation scheme <span class="_ _5"/>with A<span class="_ _5"/>.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> the Danish<span class="_ _5"/> companies are jointl<span class="_ _5"/>y and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">severally liable for<span class="_ _5"/> taxes pay<span class="_ _5"/>able,<span class="_ _5"/> etc., in<span class="_ _5"/> Denmark. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Custom bonds of USD 85<span class="_ _5"/>7m<span class="_ _5"/> (USD 830m) have been pr<span class="_ _5"/>ovided to <span class="_ _5"/>various port<span class="_ _5"/> authorities in India.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Maersk Line and APM T<span class="_ _0"/>erminals have enter<span class="_ _5"/>ed into a number<span class="_ _5"/> of agr<span class="_ _5"/>eements with t<span class="_ _5"/>erminals and port authorities,<span class="_ _5"/> etc.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising volume commitmen<span class="_ _5"/>ts, including an<span class="_ _5"/> extra pa<span class="_ _5"/>yment in case minimum <span class="_ _5"/>volumes are not<span class="_ _5"/> met.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Except for<span class="_ _5"/> customary agr<span class="_ _5"/>eements within <span class="_ _5"/>the Group’<span class="_ _5"/>s activities,<span class="_ _5"/> no material agreemen<span class="_ _5"/>ts have been enter<span class="_ _5"/>ed into <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will take effect,<span class="_ _5"/> change,<span class="_ _5"/> or<span class="_ _5"/> expire upon changes o<span class="_ _5"/>f the contr<span class="_ _5"/>ol over<span class="_ _5"/> the company<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _5"/>-settled performance shares<span class="_ _5"/>, r<span class="_ _5"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _5"/>anted <span class="_ _5"/>to members of the Executiv<span class="_ _5"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _5"/>to employees of Maersk as part<span class="_ _5"/> of Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long-t<span class="_ _5"/>erm incentive pr<span class="_ _5"/>ogramme ar<span class="_ _5"/>e reco<span class="_ _5"/>gnised as re<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">munera<span class="_ _5"/>tion expenses over<span class="_ _5"/> the <span class="_ _5"/>vesting period as per<span class="_ _5"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated fair<span class="_ _5"/> <span class="_ _5"/>value at <span class="_ _5"/>the gran<span class="_ _5"/>t date and r<span class="_ _5"/>esult in<span class="_ _5"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding adjustment <span class="_ _5"/>to equity<span class="_ _5"/>.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _5"/> the end of each r<span class="_ _5"/>eporting period, Maersk r<span class="_ _5"/>evises its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">estimated number<span class="_ _5"/> of awar<span class="_ _5"/>ds that<span class="_ _5"/> are expect<span class="_ _5"/>ed to <span class="_ _5"/>vest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the non-mark<span class="_ _5"/>et <span class="_ _5"/>vesting conditions and service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions.<span class="_ _5"/> Any<span class="_ _5"/> impact of <span class="_ _5"/>the revision is r<span class="_ _5"/>ecognised in<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _5"/> with a corr<span class="_ _5"/>esponding adjustment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _5"/>e 5.4 <span class="_ _2"> </span>Contingent liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _5"/> liabilities consist of legal cases<span class="_ _5"/>, <span class="_ _5"/>tax issues,<span class="_ _5"/> custom bonds,<span class="_ _5"/> volume commitments and other<span class="_ _5"/> disputes<span class="_ _5"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Legal</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is inv<span class="_ _5"/>olved in sever<span class="_ _5"/>al leg<span class="_ _5"/>al cases and other disput<span class="_ _5"/>es. Some of <span class="_ _5"/>these involv<span class="_ _5"/>e significant amounts and ar<span class="_ _5"/>e subject </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to consider<span class="_ _5"/>able uncertainty<span class="_ _5"/>.<span class="_ _5"/> Management continuousl<span class="_ _5"/>y assesses <span class="_ _5"/>the risks associated with <span class="_ _5"/>the cases and disputes,<span class="_ _5"/> and their<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">likel<span class="_ _5"/>y outcome.<span class="_ _5"/> It is <span class="_ _5"/>the opinion of Management<span class="_ _5"/> that,<span class="_ _5"/> apart fr<span class="_ _5"/>om items rec<span class="_ _5"/>ognised in the financial stat<span class="_ _5"/>ements,<span class="_ _5"/> the outcome </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of these cases and disputes ar<span class="_ _5"/>e not pr<span class="_ _5"/>obable or<span class="_ _5"/> cannot be reliabl<span class="_ _5"/>y estimated in<span class="_ _5"/> terms of amount<span class="_ _5"/> or <span class="_ _5"/>timing. <span class="_ _5"/>The Gr<span class="_ _5"/>oup does </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">not expect<span class="_ _5"/> these <span class="_ _5"/>to have a mat<span class="_ _5"/>erial impact on the c<span class="_ _5"/>onsolidated financial statements<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _10"/>x</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is subject<span class="_ _5"/> to a <span class="_ _5"/>tax audit in Germany<span class="_ _5"/> concerning allocation<span class="_ _5"/> of taxation rights <span class="_ _5"/>to shipping income between Denmark </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Germany as <span class="_ _5"/>well as t<span class="_ _5"/>o a tax investig<span class="_ _5"/>ation in India concerning a deemed suppl<span class="_ _5"/>y of services between Indian<span class="_ _5"/> GST<span class="_ _5"/> regis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tra<span class="_ _5"/>tions of Maersk in India. <span class="_ _5"/>The Group is also in<span class="_ _5"/>volved in <span class="_ _5"/>various other<span class="_ _5"/> tax disputes including indir<span class="_ _5"/>ect <span class="_ _5"/>tax disputes,<span class="_ _5"/> some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of which inv<span class="_ _5"/>olve significant amoun<span class="_ _5"/>ts. Manag<span class="_ _5"/>ement continuousl<span class="_ _5"/>y assesses the risk<span class="_ _5"/>s associated with <span class="_ _5"/>tax disputes and their<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">likel<span class="_ _5"/>y outcome and considers <span class="_ _5"/>the risk related <span class="_ _5"/>to these disput<span class="_ _5"/>es remote and <span class="_ _5"/>therefor<span class="_ _5"/>e does not expect<span class="_ _5"/> these <span class="_ _5"/>to have a<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">material impact<span class="_ _5"/> on the consolidated financial sta<span class="_ _5"/>tements.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Through participation in a joint<span class="_ _5"/> taxation scheme <span class="_ _5"/>with A<span class="_ _5"/>.P<span class="_ _9"/>. Møller<span class="_ _5"/> Holding <span class="_ _5"/>A/S,<span class="_ _5"/> the Danish<span class="_ _5"/> companies are jointl<span class="_ _5"/>y and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">severally liable for<span class="_ _5"/> taxes pay<span class="_ _5"/>able,<span class="_ _5"/> etc., in<span class="_ _5"/> Denmark. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Custom bonds of USD 85<span class="_ _5"/>7m<span class="_ _5"/> (USD 830m) have been pr<span class="_ _5"/>ovided to <span class="_ _5"/>various port<span class="_ _5"/> authorities in India.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Maersk Line and APM T<span class="_ _0"/>erminals have enter<span class="_ _5"/>ed into a number<span class="_ _5"/> of agr<span class="_ _5"/>eements with t<span class="_ _5"/>erminals and port authorities,<span class="_ _5"/> etc.<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising volume commitmen<span class="_ _5"/>ts, including an<span class="_ _5"/> extra pa<span class="_ _5"/>yment in case minimum <span class="_ _5"/>volumes are not<span class="_ _5"/> met.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _15c"> </span>Except for<span class="_ _5"/> customary agr<span class="_ _5"/>eements within <span class="_ _5"/>the Group’<span class="_ _5"/>s activities,<span class="_ _5"/> no material agreemen<span class="_ _5"/>ts have been enter<span class="_ _5"/>ed into <span class="_ _5"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will take effect,<span class="_ _5"/> change,<span class="_ _5"/> or<span class="_ _5"/> expire upon changes o<span class="_ _5"/>f the contr<span class="_ _5"/>ol over<span class="_ _5"/> the company<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow<span class="ff3"> from<span class="_ _5"/> operating activities includes al<span class="_ _5"/>l cash </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions other<span class="_ _5"/> <span class="_ _5"/>than cash flows arising from<span class="_ _5"/> investing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and financing activities such as investments and div<span class="_ _5"/>est-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _5"/> received dividends<span class="_ _5"/>, principal paymen<span class="_ _5"/>ts of loans, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instalments on lease liabilities,<span class="_ _5"/> paid and receiv<span class="_ _5"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and equity <span class="_ _5"/>transactions<span class="_ _5"/>. Capitalisa<span class="_ _5"/>tion of borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs is considered as a non-cash<span class="_ _5"/> item, and <span class="_ _5"/>the actual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments of <span class="_ _5"/>these borrowing costs ar<span class="_ _5"/>e included in cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow from financing.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash and cash<span class="_ _5"/> equivalents comprise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash and bank balances net of bank o<span class="_ _5"/>verdr<span class="_ _5"/>afts where </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">over<span class="_ _5"/>draft<span class="_ _5"/> facilities form an in<span class="_ _5"/>tegr<span class="_ _5"/>al part of Maersk’<span class="_ _5"/>s cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">management.</span> A.P. Møller Holding A/S A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:331.5625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 580.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A.P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">. Moller</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Singapore Pt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapore</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 581.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aliança Nave</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gação e Logística Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">da.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">azil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.951px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- Aarhus A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.021px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Algeciras S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 580.723px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Apapa </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Ltd.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nigeria</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">94% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.84px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">B.V.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Bahrain B.S.C.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Bahr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.471px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Barcelona S.L.U.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 580.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Callao S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Peru</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals China Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.295px; width: 580.605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Elizabeth, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Espagna Holding SL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.092px; width: 580.764px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Gothenburg AB</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sweden</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals India Pvt. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.006px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.889px; width: 580.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Lazaro Car</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">denas S.A. de C.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Maasvlakte II B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.686px; width: 580.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Management (Bar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">celona) S.L.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.076px; width: 578.361px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Management B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In accordance <span class="_ _5"/>with section 264b HGB (German commer<span class="_ _5"/>cial code), HamburgSüd <span class="_ _5"/>A/S &amp; Co KG,<span class="_ _5"/> Hamburg is ex<span class="_ _5"/>empt from pr<span class="_ _5"/>eparing, auditing and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>In accordance with section 264b HGB (German commer<span class="_ _5"/>cial code), Hambür<span class="_ _5"/>g Sudamerikanische Dampfschifffahrts-Gesellschaft<span class="_ _5"/> A/S and Co K<span class="_ _5"/>G. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">KG,<span class="_ _5"/> Hamburg is exempt<span class="_ _5"/> from pr<span class="_ _5"/>eparing, auditing and disclosing statutory<span class="_ _5"/> financial statements and a management<span class="_ _5"/> report<span class="_ _5"/> in accordance with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the German commercial la<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>In accordance with section 264b HGB (German commer<span class="_ _5"/>cial code), Maersk Deutschland <span class="_ _5"/>A/S &amp; Co.<span class="_ _5"/> KG,<span class="_ _5"/> Hamburg is exempt<span class="_ _5"/> from preparing,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:661.96875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 581.162px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">MedPort T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">angier S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Moroc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">co</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">80% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 577.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Mobile, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 578.273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Moin S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Costa Rica</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 580.84px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">North America </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Inc.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.986px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 580.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Pacific LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 581.121px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Quetzal S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Guatemala</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 581.004px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Valencia S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aqaba Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.681px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Jordan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Germany GmbH</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.103px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Logistics Mexico S.A. de C.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.139px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Poland Sp. z o.o.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Poland</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Spain S.L.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.076px; width: 580.5px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Frey</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Pvt. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 222.111px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">74% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.873px; width: 580.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Grindrod Logistics (PTY) L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.7325px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">TD.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South Africa</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">51% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gujara</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t Pipava</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">v Port</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 123.391px; top: 303.461px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.67px; width: 123.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hamburg Süd </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S &amp; Co KG</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 303.592px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 343.219px; top: 320.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 320.998px; width: 342.791px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hamburg Südamerikanische Dampfschifff</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ahrts-Gesellschaft </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S &amp; Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 320.982px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 338.389px; width: 581.145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LF</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (Philippines), Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Philippines</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.779px; width: 580.529px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 324.692px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 373.186px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Ag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ency U.S.A. Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.873px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 390.576px; width: 581.115px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Air</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Carg</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 407.982px; width: 580.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk A</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">viation Holding A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 425.373px; width: 580.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Industry </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 442.779px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Industry Qingdao L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 460.17px; width: 581.062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (China) Co., Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 477.576px; width: 580.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 494.967px; width: 580.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (Jiangsu) Co., Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 512.373px; width: 580.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics Holdings (Bermuda) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Bermuda</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 529.764px; width: 580.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics Management</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (Asia) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.715px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 547.17px; width: 580.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Denizcilik A.S.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">urk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.398px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 158.594px; top: 564.367px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 564.561px; width: 158.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Deutschland A/S &amp; Co. K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 564.498px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 581.889px; width: 581.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Eastern Eur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ope ApS</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 599.295px; width: 578.186px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Global Service Centres (India) Pvt. L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 616.686px; width: 580.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Holding B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.908px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.41px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 634.092px; width: 580.904px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Insurance A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 651.482px; width: 578.467px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line Agency Holding A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:575px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 204.219px; top: 25.1641px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 203.648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line Crewing Hambur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">g ApS &amp; Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 25.2949px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 580.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line, Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.418px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services (Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Australia Pty</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 168.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Australia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 581.115px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">asil Ltda.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.143px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Canada Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Canada</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Chile S.p.A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Chile</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services China Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.179px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.191px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Denmark </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.623px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services International </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.978px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Japan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> K.K.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Japan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 581.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Netherlands B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.076px; width: 580.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Peru S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Peru</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.623px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services USA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.873px; width: 580.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Vietnam Company Limit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vietnam</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services UK Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Kingdom</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 97.5292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.67px; width: 580.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading and Investments </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 191.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.076px; width: 580.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 338.467px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Panama S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Panama</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.873px; width: 580.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Singapore Pt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 373.264px; width: 580.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Spain, S.L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 390.67px; width: 580.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Shipping Hong Kong L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 225.304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 408.061px; width: 580.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk W</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing &amp; Distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Services USA LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 425.467px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">New Times In</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ternational </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ransport</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Service Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 442.857px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pilot </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Freight, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 460.264px; width: 580.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sealand Maersk Asia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Pte. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 477.654px; width: 580.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Senator</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> International Fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eight Forw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arding LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Florida</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.035px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 178.578px; top: 494.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 495.061px; width: 179.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Senator</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> International Spedition GmbH</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 494.92px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.25px; top: 512.18px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 512.326px; width: 142.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">St. Petri Shipping </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ApS &amp; Co KG</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 512.311px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 529.717px; width: 580.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Suez Canal Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal SAE</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Egypt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 547.107px; width: 580.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal 4 S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.266px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Argentina</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 564.514px; width: 580.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Visible Supply Chain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Management LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>In accordance <span class="_ _5"/>with section 264b HGB (German commercial c<span class="_ _5"/>ode), Maersk Line Cre<span class="_ _5"/>wing Hamburg ApS &amp; Co<span class="_ _5"/>. K<span class="_ _5"/>G, Hamburg is e<span class="_ _5"/>xempt from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">preparing,<span class="_ _5"/> auditing and disclosing statutory financial stat<span class="_ _5"/>ements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German c<span class="_ _5"/>ommercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _3"> </span>In accordance with section 264 <span class="_ _5"/>Abs.3 HGB (German commer<span class="_ _5"/>cial code), Senat<span class="_ _5"/>or Int<span class="_ _5"/>ernational Spedition GmbH, Hambur<span class="_ _5"/>g is exempt fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">preparing notes <span class="_ _5"/>to financial statements and a managemen<span class="_ _5"/>t report<span class="_ _5"/> in accordance with<span class="_ _5"/> the German commercial la<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">6 <span class="_ _3"> </span>In accordance with section<span class="_ _5"/> 264b HGB (German commercial code),<span class="_ _5"/> St.<span class="_ _5"/> Petri Shipping ApS &amp; Co K<span class="_ _5"/>G, Hambur<span class="_ _5"/>g, is exempt<span class="_ _5"/> from pr<span class="_ _5"/>eparing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:331.5625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 580.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A.P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">. Moller</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Singapore Pt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapore</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 581.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aliança Nave</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gação e Logística Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">da.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">azil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.951px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- Aarhus A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.021px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Algeciras S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 580.723px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Apapa </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Ltd.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nigeria</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">94% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.84px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">B.V.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Bahrain B.S.C.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Bahr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.471px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Barcelona S.L.U.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 580.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Callao S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Peru</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals China Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.295px; width: 580.605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Elizabeth, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Espagna Holding SL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.092px; width: 580.764px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Gothenburg AB</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sweden</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals India Pvt. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.006px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.889px; width: 580.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Lazaro Car</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">denas S.A. de C.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Maasvlakte II B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.686px; width: 580.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Management (Bar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">celona) S.L.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.076px; width: 578.361px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Management B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In accordance <span class="_ _5"/>with section 264b HGB (German commer<span class="_ _5"/>cial code), HamburgSüd <span class="_ _5"/>A/S &amp; Co KG,<span class="_ _5"/> Hamburg is ex<span class="_ _5"/>empt from pr<span class="_ _5"/>eparing, auditing and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>In accordance with section 264b HGB (German commer<span class="_ _5"/>cial code), Hambür<span class="_ _5"/>g Sudamerikanische Dampfschifffahrts-Gesellschaft<span class="_ _5"/> A/S and Co K<span class="_ _5"/>G. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">KG,<span class="_ _5"/> Hamburg is exempt<span class="_ _5"/> from pr<span class="_ _5"/>eparing, auditing and disclosing statutory<span class="_ _5"/> financial statements and a management<span class="_ _5"/> report<span class="_ _5"/> in accordance with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the German commercial la<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>In accordance with section 264b HGB (German commer<span class="_ _5"/>cial code), Maersk Deutschland <span class="_ _5"/>A/S &amp; Co.<span class="_ _5"/> KG,<span class="_ _5"/> Hamburg is exempt<span class="_ _5"/> from preparing,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:661.96875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 581.162px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">MedPort T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">angier S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Moroc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">co</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">80% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 577.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Mobile, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 578.273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Moin S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Costa Rica</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 580.84px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">North America </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Inc.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.986px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 580.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Pacific LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 581.121px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Quetzal S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Guatemala</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 581.004px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Valencia S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aqaba Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.681px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Jordan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Germany GmbH</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.103px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Logistics Mexico S.A. de C.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.139px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Poland Sp. z o.o.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Poland</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Spain S.L.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.076px; width: 580.5px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Frey</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Pvt. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 222.111px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">74% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.873px; width: 580.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Grindrod Logistics (PTY) L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.7325px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">TD.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South Africa</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">51% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gujara</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t Pipava</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">v Port</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 123.391px; top: 303.461px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.67px; width: 123.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hamburg Süd </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S &amp; Co KG</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 303.592px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 343.219px; top: 320.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 320.998px; width: 342.791px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hamburg Südamerikanische Dampfschifff</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ahrts-Gesellschaft </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S &amp; Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 320.982px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 338.389px; width: 581.145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LF</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (Philippines), Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Philippines</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.779px; width: 580.529px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 324.692px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 373.186px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Ag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ency U.S.A. Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.873px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 390.576px; width: 581.115px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Air</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Carg</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 407.982px; width: 580.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk A</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">viation Holding A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 425.373px; width: 580.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Industry </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 442.779px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Industry Qingdao L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 460.17px; width: 581.062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (China) Co., Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 477.576px; width: 580.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 494.967px; width: 580.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (Jiangsu) Co., Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 512.373px; width: 580.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics Holdings (Bermuda) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Bermuda</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 529.764px; width: 580.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics Management</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (Asia) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.715px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 547.17px; width: 580.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Denizcilik A.S.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">urk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.398px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 158.594px; top: 564.367px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 564.561px; width: 158.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Deutschland A/S &amp; Co. K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 564.498px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 581.889px; width: 581.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Eastern Eur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ope ApS</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 599.295px; width: 578.186px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Global Service Centres (India) Pvt. L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 616.686px; width: 580.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Holding B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.908px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.41px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 634.092px; width: 580.904px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Insurance A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 651.482px; width: 578.467px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line Agency Holding A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:575px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 204.219px; top: 25.1641px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 203.648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line Crewing Hambur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">g ApS &amp; Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 25.2949px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 580.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line, Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.418px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services (Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Australia Pty</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 168.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Australia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 581.115px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">asil Ltda.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.143px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Canada Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Canada</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Chile S.p.A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Chile</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services China Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.179px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.191px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Denmark </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.623px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services International </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.978px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Japan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> K.K.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Japan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 581.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Netherlands B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.076px; width: 580.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Peru S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Peru</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.623px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services USA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.873px; width: 580.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Vietnam Company Limit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vietnam</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services UK Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Kingdom</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 97.5292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.67px; width: 580.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading and Investments </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 191.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.076px; width: 580.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 338.467px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Panama S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Panama</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.873px; width: 580.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Singapore Pt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 373.264px; width: 580.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Spain, S.L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 390.67px; width: 580.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Shipping Hong Kong L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 225.304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 408.061px; width: 580.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk W</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing &amp; Distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Services USA LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 425.467px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">New Times In</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ternational </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ransport</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Service Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 442.857px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pilot </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Freight, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 460.264px; width: 580.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sealand Maersk Asia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Pte. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 477.654px; width: 580.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Senator</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> International Fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eight Forw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arding LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Florida</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.035px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 178.578px; top: 494.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 495.061px; width: 179.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Senator</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> International Spedition GmbH</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 494.92px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.25px; top: 512.18px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 512.326px; width: 142.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">St. Petri Shipping </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ApS &amp; Co KG</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 512.311px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 529.717px; width: 580.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Suez Canal Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal SAE</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Egypt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 547.107px; width: 580.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal 4 S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.266px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Argentina</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 564.514px; width: 580.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Visible Supply Chain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Management LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>In accordance <span class="_ _5"/>with section 264b HGB (German commercial c<span class="_ _5"/>ode), Maersk Line Cre<span class="_ _5"/>wing Hamburg ApS &amp; Co<span class="_ _5"/>. K<span class="_ _5"/>G, Hamburg is e<span class="_ _5"/>xempt from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">preparing,<span class="_ _5"/> auditing and disclosing statutory financial stat<span class="_ _5"/>ements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German c<span class="_ _5"/>ommercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _3"> </span>In accordance with section 264 <span class="_ _5"/>Abs.3 HGB (German commer<span class="_ _5"/>cial code), Senat<span class="_ _5"/>or Int<span class="_ _5"/>ernational Spedition GmbH, Hambur<span class="_ _5"/>g is exempt fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">preparing notes <span class="_ _5"/>to financial statements and a managemen<span class="_ _5"/>t report<span class="_ _5"/> in accordance with<span class="_ _5"/> the German commercial la<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">6 <span class="_ _3"> </span>In accordance with section<span class="_ _5"/> 264b HGB (German commercial code),<span class="_ _5"/> St.<span class="_ _5"/> Petri Shipping ApS &amp; Co K<span class="_ _5"/>G, Hambur<span class="_ _5"/>g, is exempt<span class="_ _5"/> from pr<span class="_ _5"/>eparing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Associated c<span class="_ _5"/>ompanies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:227.171875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 580.523px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Abidjan T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">SA</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Côte d’Ivoire</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 580.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brigantine Services Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.609px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.676px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Congo T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">SA</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 290.824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Congo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Guangzhou South China Oceangat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.1406px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 581.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Itapoa </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminais Portuarios S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Kanoo </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Services L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 243.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Saudi Arabia</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Meridian Port Servic</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ghana</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pelabuhan </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anjung P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elepas Sdn. Bhd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Malaysia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.197px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao Qianwan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> United Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Salalah Port</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Services Company SAOG</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.225px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Oman</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Asia Gatewa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Pvt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Sri Lanka</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 577.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Tianjin Port </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Alliance In</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ternational Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint vent<span class="_ _5"/>ures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:244.578125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.3105px; width: 580.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Blue Drag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">on Logistics Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 581.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brasil </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Portuario S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.1074px; width: 580.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cai Mep International </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vietnam</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 580.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cote D’Ivoir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal SA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Côte d’Ivoir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.9043px; width: 580.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LCB Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal 1 L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Thailand</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LCMT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Thailand</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.701px; width: 581.062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">North Sea </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emerhaven Gmbh and Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao New Qianw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">an Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.498px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao Qianwan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Container </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Shanghai East Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.637px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.295px; width: 580.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Smart Int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ernational Logistics Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South Florida Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.225px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.092px; width: 577.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Xiamen Songyu Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25%</span></span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:331.5625px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 580.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">A.P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">. Moller</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Singapore Pt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapore</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 581.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aliança Nave</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">gação e Logística Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">da.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">azil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.951px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">- Aarhus A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.703px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.021px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Algeciras S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.496px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 580.723px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Apapa </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Ltd.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Nigeria</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.834px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">94% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.84px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">B.V.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.377px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Bahrain B.S.C.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Bahr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.471px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Barcelona S.L.U.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.889px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 580.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Callao S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Peru</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">64% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals China Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.295px; width: 580.605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Elizabeth, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Espagna Holding SL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.082px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.092px; width: 580.764px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Gothenburg AB</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sweden</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals India Pvt. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.006px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.889px; width: 580.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Lazaro Car</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">denas S.A. de C.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.674px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Maasvlakte II B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.713px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.686px; width: 580.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Management (Bar</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">celona) S.L.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.199px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.076px; width: 578.361px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Management B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _24"> </span>In accordance <span class="_ _5"/>with section 264b HGB (German commer<span class="_ _5"/>cial code), HamburgSüd <span class="_ _5"/>A/S &amp; Co KG,<span class="_ _5"/> Hamburg is ex<span class="_ _5"/>empt from pr<span class="_ _5"/>eparing, auditing and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _3"> </span>In accordance with section 264b HGB (German commer<span class="_ _5"/>cial code), Hambür<span class="_ _5"/>g Sudamerikanische Dampfschifffahrts-Gesellschaft<span class="_ _5"/> A/S and Co K<span class="_ _5"/>G. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">KG,<span class="_ _5"/> Hamburg is exempt<span class="_ _5"/> from pr<span class="_ _5"/>eparing, auditing and disclosing statutory<span class="_ _5"/> financial statements and a management<span class="_ _5"/> report<span class="_ _5"/> in accordance with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the German commercial la<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _3"> </span>In accordance with section 264b HGB (German commer<span class="_ _5"/>cial code), Maersk Deutschland <span class="_ _5"/>A/S &amp; Co.<span class="_ _5"/> KG,<span class="_ _5"/> Hamburg is exempt<span class="_ _5"/> from preparing,<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:661.96875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 581.162px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">MedPort T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">angier S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Moroc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">co</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">80% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 577.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Mobile, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.945px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.598px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 578.273px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Moin S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.602px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Costa Rica</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 580.84px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">North America </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Inc.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.986px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 580.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Pacific LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">90% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 581.121px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Quetzal S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Guatemala</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">85% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 581.004px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">APM T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Valencia S.A.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">75% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Aqaba Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.681px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Jordan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Germany GmbH</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.103px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Logistics Mexico S.A. de C.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 209.139px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Mexico</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Poland Sp. z o.o.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.375px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Poland</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Damco Spain S.L.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.895px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.076px; width: 580.5px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Frey</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.918px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gatewa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Pvt. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 222.111px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">74% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.873px; width: 580.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Grindrod Logistics (PTY) L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.7325px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">TD.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South Africa</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">51% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Gujara</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">t Pipava</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">v Port</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.961px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.428px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">44% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 123.391px; top: 303.461px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">1</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.67px; width: 123.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hamburg Süd </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S &amp; Co KG</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 303.592px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 343.219px; top: 320.852px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">2</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 320.998px; width: 342.791px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Hamburg Südamerikanische Dampfschifff</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ahrts-Gesellschaft </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S &amp; Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 320.982px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 338.389px; width: 581.145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LF</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (Philippines), Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Philippines</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.676px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.779px; width: 580.529px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 324.692px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 373.186px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Ag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ency U.S.A. Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.873px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 390.576px; width: 581.115px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Air</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Carg</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">o A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 407.982px; width: 580.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk A</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">viation Holding A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.549px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 425.373px; width: 580.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Industry </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.353px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 442.779px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Industry Qingdao L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 460.17px; width: 581.062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (China) Co., Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.031px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 477.576px; width: 580.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.293px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 494.967px; width: 580.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics (Jiangsu) Co., Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.023px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 512.373px; width: 580.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics Holdings (Bermuda) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Bermuda</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 529.764px; width: 580.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Contr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">act Logistics Management</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> (Asia) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.715px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 547.17px; width: 580.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Denizcilik A.S.</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">urk</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ey</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.398px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 158.594px; top: 564.367px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">3</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 564.561px; width: 158.643px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Deutschland A/S &amp; Co. K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 377.562px; top: 564.498px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 581.889px; width: 581.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Eastern Eur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ope ApS</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.754px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 599.295px; width: 578.186px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Global Service Centres (India) Pvt. L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">India</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.772px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 616.686px; width: 580.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Holding B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.908px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.41px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 634.092px; width: 580.904px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Insurance A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.305px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 651.482px; width: 578.467px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line Agency Holding A/S</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100%</span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:575px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 204.219px; top: 25.1641px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">4</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 203.648px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line Crewing Hambur</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">g ApS &amp; Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 25.2949px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 580.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Line, Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.418px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services (Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong) Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Australia Pty</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 168.451px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Australia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 581.115px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">asil Ltda.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.143px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Canada Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.188px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Canada</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Chile S.p.A</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.096px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Chile</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services China Limited</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.179px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.191px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Denmark </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.623px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services International </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.978px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Japan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> K.K.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.554px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Japan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.738px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 581.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Netherlands B.V.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.482px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Netherlands</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.078px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.076px; width: 580.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services Peru S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.541px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Peru</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 251.482px; width: 580.623px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services USA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Inc</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 210.879px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 268.873px; width: 580.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Vietnam Company Limit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 123.58px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vietnam</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 286.279px; width: 580.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Logistics &amp; Services UK Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.951px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Kingdom</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 97.5292px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 303.67px; width: 580.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading and Investments </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">A/S</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 191.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Denmark</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.838px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 321.076px; width: 580.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Inc.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.074px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 338.467px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Panama S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.77px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Panama</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.473px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 355.873px; width: 580.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Singapore Pt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.383px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 373.264px; width: 580.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Oil T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">rading Spain, S.L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.935px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Spain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 390.67px; width: 580.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk Shipping Hong Kong L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 225.304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.283px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 408.061px; width: 580.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Maersk W</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arehousing &amp; Distribution</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Services USA LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Unit</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ed States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 425.467px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">New Times In</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ternational </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ransport</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Service Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.853px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 442.857px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pilot </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Air</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Freight, LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.352px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United States</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.984px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 460.264px; width: 580.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Sealand Maersk Asia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Pte. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Singapor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.672px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 477.654px; width: 580.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Senator</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> International Fr</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">eight Forw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">arding LLC</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Florida</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.035px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 178.578px; top: 494.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">5</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 495.061px; width: 179.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Senator</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> International Spedition GmbH</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 494.92px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 142.25px; top: 512.18px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff1c; -webkit-text-stroke: 0.0918225px rgba(0, 0, 0, 0);"><span style="display: inline-block;">6</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 512.326px; width: 142.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">St. Petri Shipping </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ApS &amp; Co KG</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 378.344px; top: 512.311px; width: 202.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.605px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 529.717px; width: 580.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Suez Canal Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal SAE</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.287px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Egypt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.051px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">55% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 547.107px; width: 580.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal 4 S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.266px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Argentina</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 126.047px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 564.514px; width: 580.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Visible Supply Chain</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Management LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.147px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.412px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">100% </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _3"> </span>In accordance <span class="_ _5"/>with section 264b HGB (German commercial c<span class="_ _5"/>ode), Maersk Line Cre<span class="_ _5"/>wing Hamburg ApS &amp; Co<span class="_ _5"/>. K<span class="_ _5"/>G, Hamburg is e<span class="_ _5"/>xempt from<span class="_ _5"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">preparing,<span class="_ _5"/> auditing and disclosing statutory financial stat<span class="_ _5"/>ements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German c<span class="_ _5"/>ommercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _3"> </span>In accordance with section 264 <span class="_ _5"/>Abs.3 HGB (German commer<span class="_ _5"/>cial code), Senat<span class="_ _5"/>or Int<span class="_ _5"/>ernational Spedition GmbH, Hambur<span class="_ _5"/>g is exempt fr<span class="_ _5"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">preparing notes <span class="_ _5"/>to financial statements and a managemen<span class="_ _5"/>t report<span class="_ _5"/> in accordance with<span class="_ _5"/> the German commercial la<span class="_ _5"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">6 <span class="_ _3"> </span>In accordance with section<span class="_ _5"/> 264b HGB (German commercial code),<span class="_ _5"/> St.<span class="_ _5"/> Petri Shipping ApS &amp; Co K<span class="_ _5"/>G, Hambur<span class="_ _5"/>g, is exempt<span class="_ _5"/> from pr<span class="_ _5"/>eparing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _5"/>tements and a management r<span class="_ _5"/>eport in accor<span class="_ _5"/>dance with the German<span class="_ _5"/> commercial law<span class="_ _5"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Associated c<span class="_ _5"/>ompanies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:227.171875px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.2949px; width: 580.523px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Abidjan T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">SA</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Côte d’Ivoire</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.328px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 580.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brigantine Services Lt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">d.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.609px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Hong Kong</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.0918px; width: 580.676px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Congo T</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.45117px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">SA</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 290.824px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Congo</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">15% </span></span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 581.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Guangzhou South China Oceangat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.1406px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.8887px; width: 581.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Itapoa </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminais Portuarios S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.227px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Kanoo </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Services L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 243.334px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span class="pp-font-color-override-1" style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Saudi Arabia</span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.686px; width: 580.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Meridian Port Servic</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.094px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Ghana</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.361px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Pelabuhan </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">anjung P</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">elepas Sdn. Bhd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Malaysia</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.041px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.482px; width: 581.197px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao Qianwan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> United Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.435px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.685px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">10% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Salalah Port</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Services Company SAOG</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.225px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Oman</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.312px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">30% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.279px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Asia Gatewa</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">y </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminals Pvt</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Ltd</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.049px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Sri Lanka</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.33px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">33% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 577.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Tianjin Port </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">Alliance In</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ternational Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.617px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20%</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint vent<span class="_ _5"/>ures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:244.578125px;"><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 578.584px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Company</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 334.781px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Country</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> of incorpor</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ation</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.6016px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Owned share</span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 25.3105px; width: 580.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Blue Drag</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">on Logistics Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.365px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 42.7012px; width: 581.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Brasil </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Portuario S.A.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.627px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Brazil</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.76px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 60.1074px; width: 580.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cai Mep International </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.304px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Vietnam</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 139.898px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 77.498px; width: 580.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Cote D’Ivoir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal SA</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.258px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Côte d’Ivoir</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">e</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.902px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 94.9043px; width: 580.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LCB Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal 1 L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.297px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Thailand</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">35% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 112.295px; width: 580.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">LCMT</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.883px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Thailand</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 138.768px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">32% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 129.701px; width: 581.062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">North Sea </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Br</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">emerhaven Gmbh and Co K</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">G</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.852px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">Germany</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.098px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">50% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 147.092px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao New Qianw</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">an Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.065px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">19% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 164.498px; width: 580.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Qingdao Qianwan</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> Container </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.303px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">20% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 181.889px; width: 580.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Shanghai East Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.637px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 199.295px; width: 580.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Smart Int</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">ernational Logistics Company L</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">td.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.762px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 216.686px; width: 580.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">South Florida Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal LL</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">C</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.225px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">United Stat</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">es</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.688px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">49% </span></span><span class="pp-font-color-override-1" style="position: absolute; display: inline-block; left: 0px; top: 234.092px; width: 577.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;">Xiamen Songyu Container</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.525px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;"> T</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.275px; width: 0px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"/><span style="display: inline-block;">erminal Co. Ltd.</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.6px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">China</span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.205px; font-size: 10.5px; font-family: ff1c; -webkit-text-stroke: 0.1575px rgba(0, 0, 0, 0);"><span style="display: inline-block;"> </span></span><span style="display: inline-block;">25%</span></span></span> Denmark Logistics company Denmark Global A/S (Danish limited liability company) A.P. Møller - Mærsk A/S Esplanaden 50, DK-1263 Copenhagen K