DSV

Director's Dealing • May 25, 2016

Company Announcement No. 635

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

Name Jørgen Møller

Relation Member of the Board

Issuer DSV A/S

ISIN DK0060079531

Nature of Exercise of share options granted in year 2013 in his capacity
transaction as CEO for the Air & Sea division

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Trade date 23 May 2016

Number of 32,000
shares

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Exercise price 4,544,000
(DKK)

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Name Jørgen Møller

Relation Member of the Board

Issuer DSV A/S

ISIN DK0060079531

Nature of transaction Shares – Sale

Trade date 24 May 2016

Number of shares 32,000

Market value (DKK) 9,702,720

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

Yours sincerely,

DSV A/S