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