Royal UNIBREW

Transaction in Own Shares • Jan 29, 2018

COMPANY ANNOUNCEMENT NO 9/2018 – 29 JANUARY 2018

On 9 March 2017, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 12/2017 of 8 March 2017. The programme is carried out
under Art. 5 of Regulation (EU) No 596/2014 of the European Parliament and of
the Council of 16 April 2014 on market abuse (the Market Abuse Regulation -
MAR) and the resulting delegated legislation. The share buy-back programme is
expected to be realised in the period from 9 March 2017 to 28 February 2018.
The total share buy-back in the period will not exceed a market price of DKK
560 million.

The following transactions have been made under the programme:

                        Number of    Average purchase     Transaction value,
                         shares           price                  DKK

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Accumulated, last 1,484,303 329.03 488,373,986.67
announcement

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22 January 2018 5,000 361.43 1,807,146.00

23 January 2018 5,000 364.79 1,823,954.00

24 January 2018 7,848 364.19 2,858,165.47

25 January 2018 3,500 360.39 1,261,360.10

26 January 2018 3,652 363.44 1,327,280.69

Accumulated under the 1,509,303 329.59 497,451,892.93
programme

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With the transactions stated above Royal Unibrew owns a total of 1,650,990
shares, corresponding to 3.1% of the share capital. The total amount of shares
in the company is 52,700,000, including treasury shares.

Please direct any queries to me at tel. +45 29 23 00 44.

Yours sincerely

Royal Unibrew A/S

Lars Jensen

CFO

Encl.