DSV

Director's Dealing • Aug 5, 2016

Company Announcement No. 638

Pursuant to the Danish Securities Trading Act notice is hereby given of the
following transactions:

Name Kurt Larsen

Relation Chairman of the Board

Issuer DSV A/S

ISIN DK0060079531

Nature of transaction Shares - Purchase

Trade date 5 August 2016

Number of shares 10,162

Exercise price (DKK) 3,097,544

Any questions may be addressed to Flemming Ole Nielsen, Investor Relations
Director, tel. +45 43 20 33 92.

Yours sincerely,

DSV A/S