Royal UNIBREW

Transaction in Own Shares • Sep 21, 2015

COMPANY ANNOUNCEMENT NO 40/2015 – 21 SEPTEMBER 2015

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 buyback programme is expected to be realised in the period from 11 March 2015 to 1 March 2016. The total share buyback in the period will not exceed a market price of DKK 350 million.

The following transactions have been made under the programme:

	Number of shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	752,160	234.85	176,646,336.64
14 September 2015	9,000	221.43	1,992,829.50
15 September 2015	3,276	220.92	723,743.42
16 September 2015	-	-	0
17 September 2015	4,916	231.10	1,136,089.57
18 September 2015	5,558	231.50	1,286,682.00
Accumulated under the programme	774,910	234.59	181,785,681.13

With the transactions stated above, Royal Unibrew owns a total of 1,074,910 shares, corresponding to 1.9% 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.