Stock Exchange Announcement No. 436
Pursuant to the Securities Trading Act notice is hereby given that the following transactions have been carried out:
| Name | Jens Bjørn Andersen |
| Reason | CEO |
| Issuer | DSV A/S |
| ID Code | DK0060079531 |
| Nature of transaction | Exercise of share options granted in year 2007 |
| Trade date | 21 February 2012 |
| Number of shares | 25,000 |
| Market price (DKK) | 2,437,500 |
| Name | Jens H. Lund |
| Reason | CFO |
| Issuer | DSV A/S |
| ID Code | DK0060079531 |
| Nature of transaction | Exercise of share options granted in year 2007 |
| Trade date | 21 February 2012 |
| Number of shares | 50,000 |
| Market price (DKK) | 4,875,000 |
| Name | Jens Bjørn Andersen |
| Reason | CEO |
| Issuer | DSV A/S |
| ID Code | DK0060079531 |
| Nature of transaction | Shares - Sale |
| Trade date | 21 February 2012 |
| Number of shares | 25,000 |
| Market price (DKK) | 3,190,057 |
| Name | Jens H. Lund |
| Reason | CFO |
| Issuer | DSV A/S |
| ID Code | DK0060079531 |
| Nature of transaction | Shares - Sale |
| Trade date | 21 February 2012 |
| Number of shares | 53,235 |
| Market price (DKK) | 6,791,311 |
| Name | Jens H. Lund |
| Reason | CFO |
| Issuer | DSV A/S |
| ID Code | DK0060079531 |
| Nature of transaction | Shares - Sale |
| Trade date | 22 February 2012 |
| Number of shares | 48,135 |
| Market price (DKK) | 5,986,334 |
Any questions may be addressed to Flemming Ole Nielsen, Investor Relations Manager, tel. +45 43 20 30 40.
Yours sincerely,
DSV
Flemming Ole Nielsen
Investor Relations Manager
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