DSV

Transaction in Own Shares • Feb 29, 2012

Company Announcement No. 438

On 21 February 2012, DSV initiated the published share buy-back programme, cf.
company announcement no. 435 of 21 February 2012. According to the programme
DSV will in the period to 23 April 2012 purchase own shares up to a maximum
value of DKK 200,000,000 and no more than 2,000,000 shares, corresponding to
1.05% of the present share capital of DSV A/S. The program is implemented in
accordance with the “Safe Harbour” provisions of EU regulation no. 2273/2003 of
22 December 2003. DSV will therefore publish the accumulated buy-backs under
the programme every 7th trading day.

Trading day Number of shares Average transaction Amount
bought back price DKK
1: 21 February 2012 37,000 127.63 4,722,384
2: 22 February 2012 46,000 124.28 5,716,834
3: 23 February 2012 21,000 125.65 2,638,692
4: 24 February 2012 22,000 128.38 2,824,272
5: 27 February 2012 125,000 125.64 15,704,87
5
6: 28 February 2012 24,500 126.58 3,101,259
7: 29 February 2012 17,000 129.46 2,200,871

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Accumulated for trading 292,500 126.19 36,909,18
day 1-7 7

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DSV’s accumulated share buy-backs in the period from 21 February 2012 to 29
February 2012 thus total 292,500 numbers of shares at a total purchase sum of
DKK 36.9 million.

As of today, DSV A/S now holds a total of 4,775,150 shares of a nominal DKK 1
in DSV A/S corresponding to 2.51% of the total number of issued shares of
190,000,000.

The last announcement dated 21 February 2012 stated that DSV A/S held 2.60% 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