Royal UNIBREW

Transaction in Own Shares • Sep 12, 2016

Company announcement No 51/2016– 12 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 748,461 297.59 222,731,674.96
announcement

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5 September 2016 4,080 332.93 1,358,361.74

6 September 2016 9,348 332.19 3,105,285.95

7 September 2016 3,675 327.75 1,204,495.95

8 September 2016 8,646 327.44 2,822,415.80

9 September 2016 8,426 320.26 2,698,479.58

Accumulated under the 782,636 298.89 233,920,713.98
programme

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With the transactions stated above Royal Unibrew owns a total of 1,094,477
shares, corresponding to 2.0% 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.