DSV

Transaction in Own Shares • May 22, 2015

Company Announcement No. 597

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 Average transaction Amount
bought back price DKK
Accumulated for trading 260,000 228.42 59,390,293
days 1-7
8: 12 May 2015 30,000 227.20 6,816,036
9: 13 May 2015 30,000 227.97 6,839,244
10: 18 May 2015 40,000 229.35 9,173,816
11: 19 May 2015 15,000 232.23 3,483,438
12: 20 May 2015 25,000 232.58 5,814,388
13: 21 May 2015 25,000 232.84 5,821,070
14: 22 May 2015 40,000 232.75 9,310,112

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Accumulated for trading 465,000 229.35 106,648,39
days 1-14 6

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As at today, DSV A/S holds a total of 5,496,699 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.14% 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