DSV Panalpina A/S : Webcast presentation

DSV completes acquisition of Agility GIL

Conference call 16 August 2021, 11:00 AM CEST

Forward-looking statements

This announcement contains forward-looking statements that reflect DSV's current expectations and views of future events. Some of these forward-looking statements can be identified by terms and phrases such as "estimate," "expect," "target," "plan," "project," "will" and similar expressions. These forward-looking statements include statements relating to: the expected characteristics of the combined company; expected ownership of the combined company by Agility; expected financial results and characteristics of the combined company; expected timing of the launch and closing of the proposed acquisition and satisfaction of conditions precedent, including regulatory conditions; and the expected benefits of the proposed acquisition, including related synergies. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, considering the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. Risks and uncertainties include: the ability of DSV to integrate Agility GIL into DSV's operations; the performance of the global economy; the capacity for growth in internet and technology usage; the consolidation and convergence of the industry, its suppliers and its customers; the effect of changes in governmental regulations; disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the impact on the combined company (after giving effect to the proposed acquisition) of any of the foregoing risks or forward-looking statements, as well as other risk factors listed from time to time in public disclosures.

The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including the risk factors included in any public disclosures of DSV or Agility. Any forward-looking statements made in this announcement are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realised or, even if substantially realised, that they will have the expected consequences to, or effects on, us or our business or operations. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

2 | DSV Panalpina completes acquisition of Agility GIL 16 August 2021

Agenda

1	DSV Panalpina	2	Completion of
and Agility GIL	the transaction

4	Updated financial	5	Next steps
2021guidance for

3

6

Expected EBIT contribution from Agility GIL

Q&A

3 | DSV Panalpina completes acquisition of Agility GIL 16 August 2021

DSV Panalpina and Agility GIL

Creating an industry leader in logistics

DSV x Agility GIL countries

Agents in most countries not covered by own network

Top-three player in freight forwarding

• We create a global top-three player in freight-forwarding with significantly strengthened market position in Air & Sea.

Expanding our global network

• Agility GIL has strong presence in APAC and Middle East which is a strong complement to DSV Panalpina's existing network.
• Operations in more than 90 countries.

Top-performing company

• Industry leading margins across divisions.
• Strong integration track record.

75,000 dedicated employees at your service

• Skilled logistics experts supported by strong and scalable IT systems.

4 | DSV Panalpina completes acquisition of Agility GIL 16 August 2021

Uniting the global networks

DSV Panalpina and Agility GIL

DSV Panalpina				Agility GIL
58,000	EMPLOYEES	17,000
DKK 131 bn	ANNUAL REVENUE	DKK 29 bn
1,300,000	AIR FREIGHT (tonnes)	300,000
2,300,000	SEA FREIGHT (TEU)	600,000
				(of which approx. 20% is freight management)
DKK 32 bn	ROAD FREIGHT (revenue)	DKK 2 bn
6,000,000	LOGISTICS CENTRES (m2)	1,400,000

Notes

Based on last 12 months, as per 30 June 2021.

For illustrative purposes only.

5 | DSV Panalpina completes acquisition of Agility GIL 16 August 2021