Company Announcement No. 801

On 30 April 2019, we initiated a share buyback programme, as described in Company Announcement No. 745 of 30 April 2019. According to the programme, the company will in the period from 30 April 2019 to 8 November 2019 purchase own shares up to a maximum value of DKK 3,500,000,000 corresponding to 5.38% 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 1-1245,122,000 632.07 3,237,472,820125:28 October 2019 30,000 644.52 19,335,600126:29 October 2019 35,000 645.93 22,607,550127:30 October 2019 38,000 650.93 24,735,340128:31 October 2019 40,000 651.18 26,047,200129:1 November 2019 9,000 696.36 6,267,240Accumulated trading for days 1-1295,274,000 632.63 3,336,465,750

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As at today, DSV Panalpina A/S holds a total of 4,262,067 shares of a nominal value of DKK 1 in DSV Panalpina A/S, corresponding to 1.81% 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 .

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

Yours sincerely,
DSV Panalpina A/S



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