Royal UNIBREW

Transaction in Own Shares • Mar 29, 2016

COMPANY ANNOUNCEMENT NO 14/2016 – 29 MARCH 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 buyback 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 of shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	70,829	295.87	20,955,831.87
21 March 2016	6,484	299.09	1,939,268.44
22 March 2016	3,603	300.46	1,082,548.01
23 March 2016	2,000	306.33	612,659.60
Accumulated under the programme	82,916	296.57	24,590,307.92

With the transactions stated above, Royal Unibrew owns a total of 1.803.526 shares, corresponding to 3.3 % 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

The Announcement has been prepared in Danish and English. In case of discrepancy, the Danish version shall prevail.