Royal UNIBREW

Transaction in Own Shares • Jan 18, 2016

Company announcement No 3/2016– 18 January 2016

On 11 March 2015, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 2/2015 of 10 March 2015. The programme was 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 11
March 2015 to 1 March 2016. The total share buy-back in the period will not
exceed a market price of DKK 350 million.

The following transactions have been made under the programme:

                        Number of    Average purchase     Transaction value,
                         shares           price                  DKK

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Accumulated, last 1,220,914 245.89 300,213,909.77
announcement

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11 January 2016 5,119 263.72 1,349,972.44

12 January 2016 3,000 270.39 11,176.60

13 January 2016 4,801 275.21 1,321,298.09

14 January 2016 14,025 265.08 3,717,782.06

15 January 2016 8,055 259.87 2,093,258,49

Accumulated under the 1,255,914 246.44 309,507,397.46
programme

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With the transactions stated above, Royal Unibrew owns a total of 1,555,914
shares, corresponding to 2.8% 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