DSV

Transaction in Own Shares • Sep 10, 2015

10 September 2015

SHARE BUYBACK IN DSV A/S

Company Announcement No. 610

On 13 August 2015, DSV A/S initiated the previously announced share buy-back programme, cf. company announcement No. 607 of 4 August 2015. According to the programme DSV A/S will in the period from 13 August to 20 October 2015 purchase own shares up to a maximum value of DKK 600,000,000 and no more than 4,000,000 shares, corresponding to 2.29% of the current share capital of DSV A/S. The programme has been implemented in accordance with the 'Safe Harbour' provisions of EU Regulation No. 2273/2003 of 22 December 2003. DSV will therefore publish the accumulated purchases under the share buy-back programme every 7th trading day.

Trading day	Number of shares bought back	Average transaction price	Amount DKK
Accumulated for trading days 1-14	852,000	243.20	207,210,424
15: 2 September 2015	34,620	235.10	8,139,148
16: 3 September 2015	50,000	240.62	12,030,795
17: 4 September 2015	60,000	237.68	14,260,944
18: 7 September 2015	58,000	237.39	13,768,840
19: 8 September 2015	45,000	240.29	10,813,072
20: 9 September 2015	-	-	-
21: 10 September 2015	19,690	241.50	4,755,086
Accumulated for trading days 1-21	1,119,310	242.09	270,978,310

As at today, DSV A/S holds a total of 8,099,551 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 4.63% of the total number of issued shares of 175,000,000.

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

Yours sincerely, DSV A/S