Royal UNIBREW

Transaction in Own Shares • Jul 17, 2017

Company announcement No 35/2017– 17 July 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 601,445 301.76 181,494,310.89
announcement

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10 July 2017 - - -

11 July 2017 5,000 312.01 1,560,033.00

12 July 2017 3,023 312.18 943,732.84

13 July 2017 3,607 313.77 1,131,775.24

14 July 2017 4,368 314.94 1,375,637.39

Accumulated under the 617,443 302.06 186,505,489.36
programme

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With the transactions stated above Royal Unibrew owns a total of 759,130
shares, corresponding to 1.4% 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.