Royal UNIBREW

Transaction in Own Shares • Mar 7, 2016

Company announcement No 11/2016– 7 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 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 0 0 0
announcement

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2 March 2016 8,798 286.08 2,516,890.49

3 March 2016 4,146 292.93 1,214,493.17

4 March 2016 3,325 298.55 992,667.78

Accumulated under the 16,269 290.37 4,724,051.44
programme

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With the transactions stated above, Royal Unibrew owns a total of 1,720,610
shares, corresponding to 3.1 % 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