DSV

Capital/Financing Update • Mar 11, 2022

11 March 2022

EUR 600 MILLION EUROBOND ISSUE

Company Announcement No. 949

NOT FOR RELEASE OR DISTRIBUTION IN OR INTO THE UNITED STATES OR ITS TERRITORIES OR IN OR INTO ANY OTHER JURISDICTION IN WHICH SUCH RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY LAW

DSV A/S has through DSV Finance B.V. successfully placed an aggregate principal amount of EUR 600 million senior unsecured notes due 2030 (the "Notes") under its EMTN Programme.

The Notes will be issued 16 March, 2022, at a price of 98.708% and with a fixed coupon of 1.375% per annum and will be listed on Euronext Dublin. Standard & Poor's rated the bonds at A- and Moody's rated the bonds A3, both in line with their rating of DSV A/S.

The net proceeds from the transaction will be applied by DSV A/S for general corporate purposes including refinancing of existing debt, while respecting the Group's unchanged long-term capital structure policy.

HSBC, Danske Bank, ING, Nordea and Nykredit have been acting as joint bookrunners on the transaction.

Any questions may be addressed to Executive Vice President, Investor Relations, Flemming Ole Nielsen, tel. +45 43 20 33 92.

Yours sincerely, DSV A/S

DSV A/S, Hovedgaden 630, 2640 Hedehusene, Denmark, tel. +45 43 20 30 40, CVR No. 58233528, www.dsv.com. DSV Group