Company Announcement No. 456 On 27 April 2012, DSV initiated the previously announced share buy-back programme, cf. company announcement No. 450 of 27 April 2012. According to the programme DSV will in the period from 27 April to 30 July 2012 purchase own shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000 shares, corresponding to 2.13% 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 Average transaction Amount bought back price DKK Accumulated for trading 1,821,137 120.08 218,674,1 day 1-28 73 29: 13 June 2012 57,572 109.81 6,322,119 30: 14 June 2012 36,362 108.81 3,956,655 31: 15 June 2012 20,000 110.93 2,218,666 32: 18 June 2012 35,000 111.61 3,906,499 33: 19 June 2012 28,000 112.65 3,154,077 34: 20 June 2012 50,000 115.32 5,765,980 35: 21 June 2012 60,000 114.98 6,898,512 -------------------------------------------------------------------------------- Accumulated for trading 2,108,071 119.02 250,896,6 days 1-35 81 -------------------------------------------------------------------------------- DSV's accumulated share buy-backs in the period from 27 April 2012 to 21 June 2012 thus total 2,108,071 number of shares at a total purchase sum of DKK 250.9 million. As at today, DSV A/S holds a total of 4,999,237 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 2.66% of the total number of issued shares of 188,000,000. The latest announcement dated 12 June 2012 stated that DSV A/S held 2.51% of the Company's share capital. 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