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