DSV

Transaction in Own Shares • Jan 2, 2018

Company Announcement No. 673

On 30 October 2017, DSV A/S initiated a share buyback programme, as described
in Company Announcement No. 664 of 26 October 2017. According to the programme,
DSV A/S will in the period from 30 October 2017 to 23 March 2018 purchase own
shares up to a maximum value of DKK 1,250,000,000 and no more than 5,000,000
shares, corresponding to 2.63% 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 Average Amount DKK
bought back transaction
price
?? Accumulated for trading 1,111,899 487.50 542,047,870
days 1-40
41: 27 December 2017 7,500 485,34 3,640,063
42: 28 December 2017 20,000 485,97 9,719,492
43: 29 December 2017 7,500 488.05 3,660,366

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Accumulated for trading 1,146,899 487.46 559,067,791
days 1-43

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As at today, DSV A/S holds a total of 5,917,063 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3,11% of the total number of issued shares
of 190,000,000.

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

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

Yours sincerely,

DSV A/S