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Outlook

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Outlook

As previously announced, DSV intends to launch an all share exchange offer for all publicly held shares of Panalpina. In May 2019, an extraordinary general meeting will be held in DSV to pass a resolution to issue new shares for the exchange offer. To facilitate the preparation of a listing prospectus for such new shares, DSV withdraws its outlook for 2019 effective as of today.

Until the combination with Panalpina has been completed, expectedly in the end of Q3 2019, DSV intends not to publish or comment on any financial forecast, guidance or outlook for DSV stand-alone or in combination with Panalpina except as required by law. Investors are cautioned that as from today DSV has no forecast, outlook or guidance outstanding, and any previous communication by DSV that implies a forecast, outlook or guidance is no longer valid. Financial targets are not and should not be construed to imply a forecast, outlook or guidance. Any forecast, outlook or guidance disseminated by others may or may not be accurate.