Company Announcement No. 555

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.

  Trading day
 Number of shares bought back   Average transaction price Amount  DKK
Accumulated for trading days 1-49 2,040,315 178.07 363,321,374
50: 21 July 2014 36,700 176.74 6,486,358
51: 22 July 2014 42,500 175.75 7,469,375
52: 23 July 2014 30,000 176.54 5,296,200
53: 24 July 2014 49,042 177.12 8,686,319
54: 25 July 2014 16,983 176.00 2,989,008
55: 28 July 2014 14,775 174.63 2,580,158
56: 29 July 2014 18,200 173.95 3,165,890
Accumulated for trading days 1-56 2,248,515 177.89 399,994.682

The share buyback programme announced has now been concluded and the shares bought back will be used partly to hedge the Group's incentive scheme. At DSV's general meeting it will be proposed that shares not used for hedging of the incentive scheme will be cancelled.

As at today, DSV A/S holds a total of 4,188,661 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 2.37% of the total number of issued shares of 177,000,000.

Yours sincerely,

DSV A/S


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