DSV

Transaction in Own Shares • May 22, 2013

22 May 2013

SHARE BUY-BACK IN DSV A/S

Company Announcement No. 497

On 30 April 2013, DSV A/S initiated the previously announced share buy-back programme, cf. company announcement No. 494 of 30 April 2013. According to the programme DSV A/S will in the period from 30 April to 2 July 2013 purchase own shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000 shares, corresponding to 2.22% 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 back	Average transaction price	Amount DKK
Accumulated for trading days 1-7	451,044	138.10	62,287,727
8: 13 May 2013	56,337	140.02	7,888,312
9: 14 May 2013	61,949	140.07	8,677,134
10: 15 May 2013	57,801	141.33	8,168,773
11: 16 May 2013	77,896	140.52	10,945,712
12: 17 May 2013	85,000	139.30	11,840,551
13: 21 May 2013	44,355	139.62	6.192.610
14: 22 May 2013	24,239	140.39	3,402,901
Accumulated for trading days 1-14	858,621	139.07	119,403,721

DSV A/S' accumulated share buy-backs in the period from 30 April 2013 to 22 May 2013 thus total 858,621 shares at a total purchase sum of DKK 119.4 million.

As at today, DSV A/S holds a total of 1,716,732 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 0.95% of the total number of issued shares of 180,000,000.

The latest announcement dated 8 May 2013 stated that DSV A/S held 0.78% of the Company's share capital.

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

Yours sincerely, DSV A/S

DSV A/S, Banemarksvej 58, 2605 Brøndby, tel. +45 43203040, fax +45 43203041, CVR No. 58233528, www.dsv.com Global Transport and Logistics

DSV is a global supplier of transport and logistics solutions.

DSV has offices in more than 70 countries all over the world and an international network of partners and agents, which makes DSV a truly global player offering services worldwide. By our professional and advantageous overall solutions, the approx. 22,000 DSV employees recorded worldwide annual revenue of 6 billion euro for 2012. www.dsv.com