Royal UNIBREW

Transaction in Own Shares • Aug 14, 2017

Company announcement No 39/2017– 14 August 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 736,492 304.35 224,153,006.90
announcement

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7 August 2017 5,235 318.08 1,665,161.89

8 August 2017 1,330 317.99 422,922.31

9 August 2017 5,443 314.07 1,709,503.15

10 August 2017 1,250 313.50 391,875.00

11 August 2017 17,201 310.93 5,348,312.09

Accumulated under the 766,951 304.70 233,690,781.34
programme

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With the transactions stated above Royal Unibrew owns a total of 908,638
shares, corresponding to 1.7% 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.