DSV

Transaction in Own Shares • May 11, 2015

Company Announcement No. 596

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
1: 30 April 2015 25,000 226.37 5,659,333
2: 4 May 2015 32,000 232.20 7,430,346
3: 5 May 2015 55,000 231.14 12,712,546
4: 6 May 2015 48,000 226.29 10,862,035
5: 7 May 2015 30,000 222.37 6,671,226
6: 8 May 2015 55,000 228.85 12,586,860
7: 11 May 2015 15,000 231.20 3,467,948

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Accumulated for trading 260,000 228.42 59,390,293
days 1-7

As at today, DSV A/S holds a total of 5,524,699 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.16% 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