DSV

Transaction in Own Shares • Nov 12, 2018

SHARE BUYBACK IN DSV A/S Company Announcement No. 723

On 26 August 2018, DSV A/S initiated a share buyback programme, as described in Company Announcement No. 721 of 26 October 2018. According to the programme, DSV A/S will in the period from 26 October 2018 to 1 February 2019 purchase own shares up to a maximum value of DKK 1,200,000,000 and no more than 4,000,000 shares, corresponding to 2.13% of the current share capital of DSV A/S. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules.

Trading day	Number of shares bought back	Average transaction price	Amount DKK
Accumulated for trading days 1-6	231,132	525.05	121,354,719
7: 5 November 2018	59,797	530.19	31,703,664
8: 6 November 2018	31,273	531.29	16,615,144
9: 7 November 2018	50,000	532.57	26,628,659
10: 8 November 2018	65,000	528.46	34,349,674
11: 9 November 2018	44,973	523.06	23,523,399
Accumulated for trading days 1-11	482,175	527.14	254,175,259

As at today, DSV A/S holds a total of 8,126,552 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 4.32% of the total number of issued shares of 188,000,000.

The details of each transaction made under the share buyback programme are published on investor.dsv.com.

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

Yours sincerely, DSV A/S