October 20, 2015

Company Announcement No. 617

On 13 August 2015, DSV A/S initiated the previously announced share buy-back programme, cf. company announcement No. 607 of 4 August 2015. According to the programme DSV A/S will in the period from 13 August to 20 October 2015 purchase own shares up to a maximum value of DKK 600,000,000 and no more than 4,000,000 shares, corresponding to 2.29% 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. DSV will therefore publish the accumulated purchases under the share buy-back programme every 7th trading day.

Trading day
Number of shares bought back Average transaction price Amount DKK
Accumulated for trading days 1-42 2,105,287 244.80 515,368,098
43: 12 October 2015 60,000 272.06 16,323,684
44: 13 October 2015 55,000 275.33 15,143,095
45: 14 October 2015 50,000 269.84 13,491,800
46: 15 October 2015 46,000 269.79 12,410,299
47: 16 October 2015 50,000 272.20 13,609,830
48: 19 October 2015 25,000 274.56 6,864,105
49: 20 October 2015 25,096 270.52 6,789,068
Accumulated for trading days 1-49 2,416,383 248.30 599,999,978


The share buyback programme announced has now been concluded.

As at today, DSV A/S holds a total of 9,349,566shares of a nominal value of DKK 1 in DSV A/S, corresponding to 5.34% of the total number of issued shares of 175,000,000.

Any questions may 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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