DSV

Transaction in Own Shares • Apr 29, 2014

On 18 February 2014 DSV A/S initiated the previously announced share buyback
programme, cf. company announcement No. 526 of 6 February 2014. According to
the programme DSV A/S will in the period from 18 February to 29 April 2014
purchase own shares up to a maximum value of DKK 200,000,000 and no more than
2,000,000 shares, corresponding to 1.11% of the share capital of DSV A/S at
that time. The programme was implemented in accordance with the 'Safe Harbour'
provisions of EU Regulation No. 2273/2003 of 22 December 2003.

Trading day Number of shares Average transaction Amount DKK
bought back price
Accumulated for trading 1,092,192 169.12 184,709,233
days 1-42
43: 22 April 2014 13,500 177.07 2,390,500
44: 23 April 2014 14,500 177.72 2,576,997
45: 24 April 2014 15,000 178.61 2,679,155
46: 25 April 2014 15,000 175.10 2,626,536
47: 28 April 2014 12,850 175.24 2,251,772
48: 29 April 2014 15,702 176.13 2,765,634

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Accumulated for trading 1,178,744 169.67 199,999,827
days 1-48

The share buyback programme announced has now been concluded and the shares
bought back will be used partly to hedge the Group's incentive scheme. At DSV's
general meeting it will be proposed that shares not used for hedging of the
incentive scheme will be cancelled.

As at today, DSV A/S holds a total of 2,510,300 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 1.42% of the current total number of issued
shares of 177,000,000.

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

Yours sincerely,
DSV A/S