Royal UNIBREW

Transaction in Own Shares • Jul 4, 2016

Company announcement No 37/2016– 4 July 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 484,958 294.94 143,034,907.50
announcement

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27 June 2016 8,514 277.29 2,360,861.53

28 June 2016 8,169 281.03 2,295,771.65

29 June 2016 2,500 287.91 719,772.00

30 June 2016 1,623 293.94 477,061.70

1 July 2016 2,447 300.28 734,797.15

Accumulated under the 508,211 294.41 149,623,171.53
programme

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With the transactions stated above Royal Unibrew owns a total of 820,052
shares, corresponding to 1.5% 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.