Company Announcement No. 703

On 1 May 2018, DSV A/S initiated a share buyback programme, as described in Company Announcement No. 691 of 1 May 2018. According to the programme, DSV A/S will in the period from 1 May 2018 to 27 July 2018 purchase own shares up to a maximum value of DKK 1,100,000,000 and no more than 4,000,000 shares, corresponding to 2.13% of the current share capital of DSV A/S. 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 for trading days 1-45  1,790,000  520.08  930,950,470
46:  9 July 2018  60,000  509.23  30,553,800
47: 10 July 2018  60,000  511.72  30,703,200
48: 11 July 2018  80,000  503.59  40,287,200
49: 12 July 2018  70,000  504.58  35,320,600
50: 13 July 2018  63,000  509.90  32,123,700
Accumulated for trading days 1-50  2,123,000  518.11  1,099,938,970

The share buyback programme announced has now been concluded as the maximum value of DKK 1,100,000,000 has been reached.

As at today, DSV A/S holds a total of 5,863,377 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 3.12% of the total number of issued shares of 188,000,000.

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 A/S

Attachment