DSV

Transaction in Own Shares • Jun 24, 2015

24 June 2015

SHARE BUYBACK IN DSV A/S

Company Announcement No. 601

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 1-28	1,250,000	230.38	287,973,655
29: 16 June 2015	50,000	222.52	11,126,210
30: 17 June 2015	33,000	222.57	7,344,945
31: 18 June 2015	37,500	219.53	8,232,364
32: 19 June 2015	37,000	223.71	8,277,403
33: 22 June 2015	35,000	225.92	7,907,225
34: 23 June 2015	45,000	228.65	10,289,358
35: 24 June 2015	43,000	224.73	9,663,257
Accumulated for trading days 1-35	1,530,500	229.22	350,814,416

As at today, DSV A/S holds a total of 6,467,699 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 3.70% 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