Royal UNIBREW

Transaction in Own Shares • Dec 27, 2017

Company announcement nO 65/2017 – 27 december 2017

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 1,306,894 323.69 423,031,721.65
announcement

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18 December 2017 5,753 359.47 2,068,032.06

19 December 2017 7,500 364.51 2,733,832.50

20 December 2017 7,831 366.82 2,872,554.89

21 December 2017 8,000 367.01 2,936,043.20

22 December 2017 8,000 369.03 2,952,266.40

Accumulated under the 1,343,978 324.85 436,594,450.70
programme

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With the transactions stated above Royal Unibrew owns a total of 1,485,665
shares, corresponding to 2.8% 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.