DSV

Director's Dealing • May 25, 2016

25 May 2016

STATEMENT OF INSIDERS' TRADING IN DSV SHARES Company Announcement No. 635

Pursuant to the Danish Securities Trading Act notice is hereby given of the following transactions:

Name	Jørgen Møller
Relation	Member of the Board
Issuer	DSV A/S
ISIN	DK0060079531
Nature of transaction	Exercise of share options granted in year 2013 in his capacity as CEO for the Air & Sea division
Trade date	23 May 2016
Number of shares	32,000
Exercise price (DKK)	4,544,000
Name	Jørgen Møller
Relation	Member of the Board
Issuer	DSV A/S
ISIN	DK0060079531
Nature of transaction	Shares – Sale
Trade date	24 May 2016
Number of shares	32,000
Market value (DKK)	9,702,720

Any questions may be addressed to Flemming Ole Nielsen, Investor Relations Director, 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, Comp. Reg. No. 58233528, www.dsv.com. Global Transport and Logistics

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