Royal UNIBREW

Transaction in Own Shares • Sep 26, 2016

Company announcement No 54/2016– 26 September 2016

On 2 March 2016, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 10/2016 of 1 March 2016. The programme is carried out
on the same terms, but from 3 July 2016 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 delegated legislation
under MAR. The share buy-back programme is expected to be realised in the
period from 2 March 2016 to 28 February 2017. The total share buy-back in the
period will not exceed a market price of DKK 450 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 817,175 299.77 244,967,268.34
announcement

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19 September 2016 4,098 323.46 1,325,539.90

20 September 2016 4,506 324.41 1,461,769.83

21 September 2016 5,618 323.92 1,819,794.36

22 September 2016 6,802 323.78 2,202,329.79

23 September 2016 2,311 321.40 742,751.24

Accumulated under the 840,510 300.44 252,519,453.47
programme

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With the transactions stated above Royal Unibrew owns a total of 1,161,351
shares, corresponding to 2.1% of the share capital. The total amount of shares
in the company is 54,100,000, including treasury shares.

Please direct any queries to me at tel. +45 56 77 15 05.

Yours sincerely

Royal Unibrew A/S

Lars Jensen

CFO

Encl.