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Statutory Report on Corporate Governance

1 DSV A/S Statutory Corporate Governance REPORTS tatutory Report onCorporate GovernanceCF. ARTICLE 107B OF THE DANISH FINANCIAL STATEMENTS ACT2 DSV A/S Statutory Corporate Governance REPORTThis Statutory Report on Corporate Governance covers the period 1 January 31 December 2017 and is pursuant to the Danish Financial Statements Act art. 107b. The Report is part of the Management s Review in the Annual Report for Report includes a description of DSV s management structure, a description of the Group s internal control and risk management systems in relation to the financial reporting process and DSV s comments on the status with the Recommendations on Corporate Governance . The Report is not covered by the auditors Report prepared in connection with the Annual Report for 2017. Management structureTogether, the Board of Directors and the Executive Board constitute the governing body of DSV.

TATUTR CRRA RC RRT 2 This statutory report on corporate governance covers the period 1 January – 31 December 2017 and is pursuant to the …

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