Company Announcement No. 712

19 September 2018, S&P Global Ratings has assigned a BBB+ long-term issuer credit rating to DSV A/S (“DSV”), with a stable outlook.

S&P states that “DSV's credit quality is underpinned by its large scale, extensive transport and logistics network and high operating efficiency, as reflected in industry-leading profit margins, an asset-light business model that allows for solid free cash flow generation, and a transparent financial policy”.

“Obtaining a credit rating further strengthens DSV’s financing platform. The BBB+ rating reflects DSV’s solid financial profile and leading market position” says Jens Lund, Group CFO for DSV A/S.

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

Yours sincerely,DSV A/S

Attachment

• 712 - Announcement (19.09.2018) - Credit rating