DSV

Transaction in Own Shares • Jul 3, 2015

3 July 2015

SHARE BUYBACK IN DSV A/S

Company Announcement No. 602

On 30 April 2015, DSV A/S initiated the previously announced share buy-back programme, cf. company announcement No. 594 of 30 April 2015. According to the programme DSV A/S will in the period from 30 April to 23 July 2015 purchase own shares up to a maximum value of DKK 500,000,000 and no more than 3,000,000 shares, corresponding to 1.71% 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 1-35	1,530,500	229.22	350,814,416
36: 25 June 2015	35,000	224.05	7,841,824
37: 26 June 2015	33,000	222.39	7,338,814
38: 29 June 2015	35,000	219.01	7,665,511
39: 30 June 2015	50,000	217.44	10,872,060
40: 1 July 2015	30,000	220.63	6,618,981
41: 2 July 2015	30,000	220.71	6,621,204
42: 3 July 2015	25,000	219.04	5,476,040
Accumulated for trading days 1-42	1,768,500	228.02	403,248,850

As at today, DSV A/S holds a total of 6,705,699 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 3.83% 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

DSV A/S, Hovedgaden 630, 2640 Hedehusene, Denmark, tel. +45 43 20 30 40, CVR No. 58233528, www.dsv.com. Global Transport and Logistics