DSV

Transaction in Own Shares • Feb 26, 2014

Company Announcement No. 528

On 18 February 2014, DSV A/S initiated the previously announced share buy-back
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 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 bought Average Amount
back transaction DKK
price
1: 18 February 2014 52,870 167.79 8,870,772
2: 19 February 2014 21,783 168.32 3,666,571
3: 20 February 2014 34,610 168.18 5,820,561
4: 21 February 2014 25,000 171.63 4,290,828
5: 24 February 2014 25,000 172.35 4,308,618
6: 25 February 2014 25,000 172.22 4,305,403
7: 26 February 2014 22,030 171.08 3,768,857

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Accumulated for trading 206,293 169.82 35,031,609
days 1-7

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DSV A/S' accumulated share buy-backs in the period from 18 February 2014 to 26
February 2014 amount to 206,293 shares at a total purchase sum of DKK 35.0
million.

As at today, DSV A/S holds a total of 4,975,118 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 2.76% of the total number of issued shares
of 180,000,000.

Any questions may be addressed to Flemming Ole Nielsen, Investor Relations
Director, tel. +45 43 20 30 40.

Yours sincerely,
DSV A/S