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