Statement from Panalpina regarding DSV and the position of Ernst Göhner Foundation

Panalpina confirms that the Ernst Göhner Foundation, Panalpina's largest shareholder representing approximately 46% of the total share capital, informed the Board of Directors that it does not support the current non-binding proposal from DSV and that it supports Panalpina’s Board of Directors in pursuing an independent growth strategy that includes M&A.

According to its fiduciary duties the Board of Directors of Panalpina continues to carefully review the situation with its professional advisers. Further announcements will be made as appropriate.