Royal UNIBREW

Transaction in Own Shares • Nov 13, 2017

COMPANY ANNOUNCEMENT NO 56/2017 – 13 NOVEMBER 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 shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	1,058,851	314.85	333,380,641.48
6 November 2017	4,166	364.93	1,520,295.88
7 November 2017	6,000	365.54	2,193,239.40
8 November 2017	4,430	368.44	1,632,191.86
9November 2017	5,611	369.02	2,070,557.75
10 November 2017	5,500	367.99	2,023,927.95
Accumulated under the programme	1,084,558	316.09	342,820,854.32

With the transactions stated above Royal Unibrew owns a total of 1,226,245 shares, corresponding to 2.3% 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.

The Announcement has been prepared in Danish and English. In case of discrepancy, the Danish version shall prevail.