DSV

Transaction in Own Shares • Jul 2, 2012

Company Announcement No. 457

On 27 April 2012, DSV initiated the previously announced share buy-back
programme, cf. company announcement No. 450 of 27 April 2012. According to the
programme DSV will in the period from 27 April to 30 July 2012 purchase own
shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000
shares, corresponding to 2.13% 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
bought back price DKK
Accumulated for trading 2,108,071 119.02 250,896,6
day 1-35 81
36: 22 June 2012 56,000 112.96 6,325,732
37: 25 June 2012 75,780 111.47 8,446,901
38: 26 June 2012 70,000 110.11 7,707,553
39: 27 June 2012 40,833 110.50 4,511,936
40: 28 June 2012 40,000 111.64 4,465,440
41: 29 June 2012 30,000 115.03 3,450,966
42: 2 July 2012 30,000 116.66 3,499,728

---

Accumulated for trading 2,450,684 118.05 289,304,9
day 1-42 37

---

DSV's accumulated share buy-backs in the period from 27 April 2012 to 2 July
2012 thus total 2,450,684 number of shares at a total purchase sum of DKK 289.3
million.

As at today, DSV A/S holds a total of 5,335,350 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 2.84% of the total number of issued shares
of 188,000,000.

The latest announcement dated 21 June 2012 stated that DSV A/S held 2.66% of
the Company's share capital.

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

Yours sincerely,
DSV

Flemming Ole Nielsen
Investor Relations Manager