DSV

Transaction in Own Shares • Sep 17, 2014

Company Announcement No. 562

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 1,036,785 174.77 181,200,878
days 1-21
22: 9 September 2014 55,425 172.21 9,544,800
23: 10 September 2014 77,000 172.13 13,253,802
24: 11 September 2014 60,924 172.48 10,508,421
25: 12 September 2014 56,237 172.32 9,690,867
26: 15 September 2014 77,500 171.37 13,281,144
27: 16 September 2014 67,080 170.40 11,430,378
28: 17 September 2014 40,000 171.28 6,851,040

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Accumulated for trading 1,470,951 173.87 255,761,331
days 1-28

As at today, DSV A/S holds a total of 5,569,112 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.15% 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