DSV

Transaction in Own Shares • Jun 30, 2014

Company Announcement No. 550

On 6 May 2014, DSV A/S initiated the previously announced share buyback
programme, cf. company announcement No. 542 of 30 April 2014. According to the
programme DSV A/S will in the period from 6 May to 29 July 2014 purchase own
shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000
shares, corresponding to 2.26% 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 buyback programme every 7th trading
day.

Trading day Number of shares Average transaction Amount DKK
bought back price
Accumulated for trading 1,119,341 178.79 200,122,594
days 1-28
29: 20 June 2014 50,000 178.18 8,909,000
30: 23 June 2014 50,000 178.62 8,931,000
31: 24 June 2014 55,000 177.09 9,739,950
32: 25 June 2014 55,000 175.81 9,669,550
33: 26 June 2014 76,443 174.71 13,355,357
34: 27 June 2014 42,618 176.49 7,521,651
35: 30 June 2014 40,000 177.98 7,119,200

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Accumulated for trading 1,488,402 178.29 265,368,302
days 1-35

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As at today, DSV A/S holds a total of 3,452,548 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 1.95% of the total number of issued shares
of 177,000,000.

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

Yours sincerely,
DSV A/S