Royal UNIBREW

Transaction in Own Shares • May 9, 2016

Company announcement No 24/2016– 9 May 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 implemented
in accordance with the provisions of European Commission Regulation no.
2273/2003 of 22 December 2003, also referred to as the Safe Harbour Regulation.
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 223,755 299.43 66,998,816.18
announcement

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2 May 2016 8,000 292.97 2,343,799.20

3 May 2016 10,812 288.66 3,121,010.30

4 May 2016 6,959 289.27 2,013,031.32

Accumulated under the 249,526 298.47 74,476,657.00
programme

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With the transactions stated above, Royal Unibrew owns a total of 1,953,867
shares, corresponding to 3.5% of the share capital. The total amount of shares
in the company is 55,492,500, 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