DSV

Transaction in Own Shares • Nov 25, 2019

SHARE BUYBACK IN DSV PANALPINA A/S

Company Announcement No. 804

On 11 November 2019, we initiated a share buyback programme, as described in Company Announcement No. 800 of 1 November 2019. According to the programme, the company will in the period from 11 November 2019 to 6 February 2020 purchase own shares up to a maximum value of DKK 2,500,000,000 and no more than 6,000,000 shares, corresponding to 2.55% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules.

Trading day		Number of shares bought back	Average transaction price	Amount DKK
	Accumulated trading for days 1-5	303,934	742.65	225,716,481
6:	18 November 2019	80,160	731.99	58,676,399
7:	19 November 2019	74,500	737.09	54,913,116
8:	20 November 2019	45,384	739.63	33,567,459
9:	21 November 2019	110,240	732.61	80,762,673
10:	22 November 2019	60,070	734.79	44,138,691
Accumulated trading for days 1-10		674,288	738.22	497,774,818

As at today, DSV Panalpina A/S holds a total of 5,029,855 shares of a nominal value of DKK 1 in DSV Panalpina A/S, corresponding to 2.14% of the total number of issued shares of 235,000,000.

The details of each transaction made under the share buyback programme are published on investor.dsv.com.

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

Yours sincerely, DSV Panalpina A/S

DSV Panalpina A/S, Hovedgaden 630, 2640 Hedehusene, Denmark, tel. +45 43 20 30 40, CVR No. 58233528, www.dsv.com. DSV Panalpina Group