DSV

Transaction in Own Shares • Sep 25, 2013

Company Announcement No. 516

On 30 July 2013, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 508 of 30 July 2013. According to the
programme DSV A/S will in the period from 30 July to 24 October 2013 purchase
own shares up to a maximum value of DKK 300,000,000 and no more than 3,000,000
shares, corresponding to 1.67% 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 1,071,416 149.09 159,736,959
days 1-35
36: 17 September 2013 22,203 159.41 3,539,303
37: 18 September 2013 24,024 160.75 3,861,760
38: 19 September 2013 37,457 161.59 6,052,763
39: 20 September 2013 44,605 161.85 7,219,466
40: 23 September 2013 20,000 161.19 3,223,740
41: 24 September 2013 32,761 159.26 5,217,415
42: 25 September 2013 27,677 158.06 4,374,610

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Accumulated for trading 1,280,143 150.94 193,226,016
days 1-42

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DSV A/S' accumulated share buy-backs in the period from 30 July 2013 to 25
September 2013 amounted to 1,280,143 shares at a total purchase sum of DKK
193.2 million.

As at today, DSV A/S holds a total of 4,392,584 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 2.44% 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