Company Announcement No. 665

On 30 October 2017, DSV A/S initiated a share buyback programme, as described
in Company Announcement No. 664 of 26 October 2017. According to the programme,
DSV A/S will in the period from 30 October 2017 to 23 March 2018 purchase own
shares up to a maximum value of DKK 1,250,000,000 and no more than 5,000,000
shares, corresponding to 2.63% of the current share capital of DSV A/S. The
programme has been implemented in accordance with Regulation No. 596/2014 of
the European Parliament and Council of 16 April 2014 (MAR) and the Commission
Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour
rules. 



Trading day                Number of shares bought           Average  Amount DKK
                                              back       transaction            
                                                               price            
                                                                                
1: 30 October 2017                          15,000            493.66   7,404,857
2: 31 October 2017                          15,000            493.85   7,407,702
3: 1 November 2017                          65,000            496.27  32,257,532
4: 2 November 2017                          15,000            495.36   7,430,394
5: 3 November 2017                          15,000            497.02   7,455,358
--------------------------------------------------------------------------------
Accumulated for trading                    125,000            495.65  61,955,843
 days 1-5                                                                       
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As at today, DSV A/S holds a total of 4,929,164 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 2.59% of the total number of issued shares
of 190,000,000. 

The details of each transaction made under the share buyback programme are
published on investor.dsv.com. 

Any questions may be addressed to Flemming Ole Nielsen, Director, Investor
Relations, on tel. +45 43 20 33 92. 





Yours sincerely,

DSV A/S