Royal UNIBREW

Transaction in Own Shares • Sep 11, 2017

Company announcement No 44/2017– 11 September 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    Average purchase     Transaction value, 
                            of            price                  DKK        
                          shares

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Accumulated, last 879,495 307.18 270,163,254.15
announcement

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4 September 2017 886 339.88 301,134.92

5 September 2017 5,599 341.21 1,910,409.03

6 September 2017 3,719 337.62 1,255,611.01

7 September 2017 8,618 337.06 2,904,780.49

8 September 2017 1,990 336.81 670,250.51

Accumulated under the 900,307 307.90 277,205,440.11
programme

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With the transactions stated above Royal Unibrew owns a total of 1,041,994
shares, corresponding to 2.0% 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.