DSV Financial Performance

Financial performance over the years Revenue (DKKm) 240,000 210,000 Gross profit (DKKm) 56,000 180,000 150,000 120,000 90,000 60,000 30,000 HI 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 CAGR* 20.0% 49,000 42,000 35,000 28,000 21,000 14,000 7,000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 CAGR* 20.1% EBIT before special items (DKKm) Margins (%) Conversion ratio 28,000 49% 24,000 42% 20,000 35% 16,000 28% 25.5% 5.6% 12,000 21% 8,000 4,000 0 H 14% Operating margin (Rhs) 48.3% 14% 12% 10.7% 10% 8% 6% 4% 7% 2% 0% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 2014 2015 2016 2017 2018 2019 *Average annual growth (CAGR) including M&A 2020 2021 2022 37 CAGR* 29.0%

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