DSV Financial Performance

Road (DKKm) Q4 2022 Q4 2021 Growth* FY 2022 FY 2021 Growth* Revenue 10,078 9,914 1.5% 41,507 35,416 16.4% Management commentary • • Gross profit 1,910 1,925 (0.6%) 7,911 7,095 11.0% EBIT 451 513 (12.4%) Gross margin Conversion ratio 2,040 1,857 9.2% *) Growth rates are in constant currencies and including M&A. • Operating margin • 27.3% 5.2% 5.2% 26.6% 26.4% 4.9% 5.0% 19.4% 19.0% 19.1% 19.1% 19.0% 25.7% 4.5% 23.6% Good performance and market share gains across all regions, with the exception of South Africa. In 2022, the European market was impacted by new EU regulation and the war in Ukraine. DSV Road successfully navigated these changes. Q4-22 was impacted by market slow-down and continued inflationary pressure on cost base. On the Road Way Forward project, the development of our European groupage network is progressing well. We made less progress on the new transport management system than planned in 2022 - we have now changed our approach and reduced vendor dependency. Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 8

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