DSV

Transaction in Own Shares • Oct 16, 2014

Company Announcement No. 565

On 11 August 2014, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 557 of 30 July 2014. According to the
programme DSV A/S will in the period from 11 August to 27 October 2014 purchase
own shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000
shares, corresponding to 2.26% 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 DKK
bought back price
Accumulated for trading 1,941,089 172.48 334,789,537
days 1-42
43: 8 October 2014 55,000 158.07 8,693,999
44: 9 October 2014 40,000 158.62 6,344,768
45: 10 October 2014 40,000 153.19 6,127,648
46: 13 October 2014 34,070 153.58 5,232,522
47: 14 October 2014 50,000 155.77 7,788,590
48: 15 October 2014 40,000 155.61 6,224,360
49: 16 October 2014 47,000 151.65 7,127,653

---

Accumulated for trading 2,247,159 170.14 382,329,076
days 1-49

---

As at today, DSV A/S holds a total of 6,343,320 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.58% of the total number of issued shares
of 177,000,000.

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

Yours sincerely,
DSV A/S