DSV

Transaction in Own Shares • Nov 13, 2017

Company Announcement No. 666

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 bought Average Amount DKK
back transaction
price

Accumulated for trading 125,000 495.65 61,955,843
days 1-5
6: 6 November 2017 23,255 495.59 11,524,838
7: 7 November 2017 75,000 495.91 37,192,965
8: 8 November 2017 15,000 495.29 7,429,305
9: 9 November 2017 25,000 494.10 12,352,442
10: 10 November 2017 39,312 491.75 19,331,534

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Accumulated for trading 302,567 495.05 149,786,927
days 1-10

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As at today, DSV A/S holds a total of 5,095,731 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 2.68% 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