Company Announcement No. 546

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

Name Jens Bjørn Andersen
Relation CEO
Issuer DSV A/S
ISIN DK0060079531
Nature of transaction Exercise of share options granted in year 2011
Trade date 26 May 2014
Number of shares 100,000
Exercise price (DKK) 12,990,000
Name Jens Bjørn Andersen
Relation CEO
Issuer DSV A/S
ISIN DK0060079531
Nature of transaction Shares - Sale
Trade date 27 May 2014
Number of shares 100,000
Market value (DKK) 18,026,755
Name Jens H. Lund
Relation CFO
Issuer DSV A/S
ISIN DK0060079531
Nature of transaction Exercise of share options granted in year 2011
Trade date 26 May 2014
Number of shares 70,000
Exercise price (DKK) 9,093,000
Name Jens H. Lund
Relation CFO
Issuer DSV A/S
ISIN DK0060079531
Nature of transaction Shares - Sale
Trade date 26 May 2014
Number of shares 47,902
Market value (DKK) 8,584,038
Name Jens H. Lund
Relation CFO
Issuer DSV A/S
ISIN DK0060079531
Nature of transaction Shares - Sale
Trade date 27 May 2014
Number of shares 22,098
Market value (DKK) 3,983,552

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

Yours sincerely,
DSV A/S


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