DSV, 827 - SHARE BUYBACK IN DSV PANALPINA A/S

23 March 2020

Company Announcement No. 827

On 7 February 2020, we initiated a share buyback programme, as described in Company Announcement No. 816 of 7 February 2020. According to the programme, the company will in the period from 7 February 2020 to 30 July 2020 purchase own shares up to a maximum value of DKK 6,000,000,000 and no more than 9,800,000 shares, corresponding to 4.17% of the share capital at commencement of the programme. 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 back		Average transaction price		Amount DKK
Accumulated trading for days 1-26			2,637,212		708.85		1,869,384,602
27:	16 March 2020		77,910		554.63		43,211,223
Accumulated trading for days 1-32			2,715,122		704.42		1,912,595,825

As at today, DSV Panalpina A/S holds a total of 9,006,441 shares of a nominal value of DKK 1 in DSV Panalpina A/S, corresponding to 3.83% of the total number of issued shares of 235,000,000.

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

With reference to company announcement 825 dated 16 March 2020, we have decided to temporarily suspend our share buybacks due to coronavirus uncertainty.

Any questions may be addressed to Executive Vice President, Investor Relations, Flemming Ole Nielsen, tel. [phone].

Yours sincerely,
DSV Panalpina A/S

Attachment

• 827 - Announcement (23.03.2020) - Sharebuyback