DSV

Transaction in Own Shares • Oct 25, 2022

25 October 2022

LAUNCH OF NEW SHARE BUYBACK PROGRAMME Company Announcement No. 992

The Board of Directors of DSV A/S has decided to exercise the authority to buy back shares granted by the Annual General Meeting on 17 March 2022. The authority is valid until 17 March 2027 and covers a maximum of 23,400,000 shares.

Purpose

The purpose of the share buyback is to adjust the capital structure and meet obligations relating to the Group's share-based incentive programmes. As announced in company announcement 991, an extraordinary general meeting will be convened shortly to take place on 22 November 2022, with a view to inter alia propose a reduction of the share capital (treasury shares).

Time frame

The share buyback programme will run from 25 October 2022 until end of trading on Nasdaq Copenhagen on 14 November 2022, both days inclusive. During this period, DSV A/S will buy own shares up to a maximum of DKK 3,000 million.

Buyback terms

• DSV A/S has retained Danske Bank A/S as lead manager for this share buyback programme. Danske Bank A/S will make its own trading decisions independently of and without influence from DSV A/S and will execute the buyback within the announced limits.
• Under the share buyback programme, DSV A/S may repurchase shares up to a maximum aggregate purchase price of DKK 3,000 million, and no more than 5,000,000 shares, corresponding to 2.14% of the current share capital of DSV A/S, may be purchased.
• This share buyback programme will be executed in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 ("MAR") (save for the rules on share buyback programmes set out in MAR article 5).

A company announcement of any transactions under the programme will be published every week after commencement and at the end of the programme. Any questions may be addressed to Executive Vice President, Investor Relations, Flemming Ole Nielsen, tel. +45 43 20 33 92.

Yours sincerely, DSV A/S

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