OCTOBER VOLUMES: SOFT MOMENTUM IN EUROPEAN ECONOMIES LOWERS GROWTH

INVESTOR NEWS no. 35 - 12 November 2025



Ferry - freight: Total volumes in October 2025 of 3.6m lane metres were 3.7%
below 2024 and 5.7% lower adjusted for route changes. YTD growth rates were
-0.3% and -1.6%, respectively.

North Sea volumes were below 2024 following soft volumes on most routes.
Mediter-ranean volumes were below 2024 due to amongst other things reduced
capacity in response to increased ferry competition.

Channel volumes were below 2024 driven by a slowdown in volumes in the total
Dover Strait corridor. Baltic Sea volumes were above 2024 while Strait of
Gibraltar volumes were below 2024 owing to capacity changes.

For the last twelve months 2025-24, the total transported freight lane metres
increased 1.0% to 41.5m from 41.1m in 2024-23 and decreased 1.5% adjusted for
route changes.

Ferry - passenger: The number of passengers in October 2025 was adjusted for
route changes* down 5.5% to 331k vs 2024 and the adjusted YTD growth rate was -
4.3%. Higher passenger volumes in Strait of Gibraltar were offset by mainly
lower Channel volumes, particularly in the coach market. The number of cars in
October was 2.3% below 2024 adjusted for route changes.

For the last twelve months 2025-24, the total number of passengers
decreased 18.0% to 5.3m compared to 6.5m for 2024-23. The growth rate was -4.0%
adjusted for route changes.

*Adjusted for sale of Oslo-Frederikshavn-Copenhagen end October 2025, exit from
Tarifa-Tanger Ville early May 2025, and addition of Jersey routes from end March
2025.


DFDS ferry volumes

  October   Last-12-months
-------------------------------------------- ----------------------------
Freight 2023 2024 2025 Change   2023 2024 2025 Change

Lane metres, '000 3,424 3,776 3,637 -3.7%   38,454 41,095 41,523 1.0%
-------------------------------------------- ----------------------------


Passenger 2023 2024 2025 Change   2023 2024 2025 Change

Passengers, '000 345 458 331 -27.8%   4,472 6,523 5,350 -18.0%
-------------------------------------------- ----------------------------


DFDS reports monthly ferry volumes for freight and passengers to provide insight
into the development of volume trends in our European route network enabling
trade and travel in and around Europe. The November 2025 volume report is
expected to be published on 12 December 2025 at around 10.00am CET.


Contact

Torben Carlsen, CEO +45 33 42 32 01

Karen Boesen, CFO +45 20 58 58 40

Søren Brøndholt Nielsen, IR +45 33 42 33 59

Dennis Kjærsgaard, Media +45 42 30 38 47


About DFDS

We operate a transport network in and around Europe with an annual revenue of
DKK 30bn and 16,500 full-time employees.

We move goods in trailers by ferry, road & rail, and we offer complementary and
related transport and logistics solutions.

We also move car and foot passengers on short sea and overnight ferry routes.

DFDS was founded in 1866 and headquartered and listed in Copenhagen.


This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act