DSV

Transaction in Own Shares • Dec 2, 2011

Company Announcement No. 423

On 26 October 2011, DSV initiated the published share buy-back programme, cf.
company announcement no. 417 of 26 October 2011. According to the programme
DSV will in the period to 23 January 2012 purchase own shares up to a maximum
value of DKK 400,000,000 and no more than 5,000,000 shares, corresponding to
2.45% of the share capital of DSV A/S at the day of announcement. 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
Accumulated for trading 1,379,405 105.90 146,083,4
day 1-21 84
22: 24 November 2011 55,000 101.12 5,561,765
23: 25 November 2011 46,500 99.22 4,613,730
24: 28 November 2011 47,049 102.67 4,830,427
25: 29 November 2011 30,000 104.01 3,120,210
26: 30 November 2011 33,260 106.03 3,526,458
27: 1 December 2011 45,000 106.59 4,796,550
28: 2 December 2011 64,500 107.28 6,919,431

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Accumulated for trading 1,700,714 105.52 179,452,0
1-28 54

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DSV’s accumulated share buy-backs in the period from 26 October 2011 to 2
December 2011 thus total 1,700,714 numbers of shares at a total purchase sum of
DKK 179.5 million.

As of today, DSV A/S now holds a total of 3,192,879 shares with a face value of
DKK 1 in DSV A/S corresponding to 1.68% of the total number of issued shares of
190,000,000.

The last announcement dated 24 November 2011 stated that DSV A/S held 1.51% of
the company’s share capital.

Any questions may be addressed to Jens H. Lund, CFO, tel. +45 43 20 30 40.

Yours sincerely,

DSV

Jens Bjørn Andersen Jens H. Lund
CEO CFO