Royal UNIBREW

Transaction in Own Shares • May 11, 2015

Company announcement No 16/2015 – 11 May 2015

On 30 April 2013, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 20/2013 of 30 April 2013. 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    Average purchase     Transaction value,
                             of            price                 DKK        
                           shares

---

Accumulated, last 210,935 241.61 50,963,283.27
announcement *)

---

4 May 2015 *) 6.000 258.61 1,551,660.00

5 May 2015 5,000 256.59 1,282,931.00

6 May 2015 3,239 247.20 800,694.40

7 May 2015 2,563 245.87 630,171.47

8 May 2015 2,643 249.59 659,664.52

Accumulated under the 230,380 242.59 55,888,404.67
programme

---

*) Please note that following the adoption at the Annual General Meeting on 28
April 2015 (see Company Announcement No 11/2015 of 28 April 2015), Royal
Unibrew A/S has implemented a 1:5 share split on 5 May 2015 by reducing the
share denomination from DKK 10 to DKK 2. According to Company Announcement No
12/2015 of 4 May 2015, Royal Unibrew A/S had at 30 April 2015 purchased 42,187
shares of a nominal value of DKK 10 each, corresponding to 210,935 shares of a
nominal value of DKK 2 each. On 4 May 2015, 1,200 shares were purchased at an
average purchase price of DKK 1,293.05 per share of a nominal value of DKK 10.

With the transactions stated above, Royal Unibrew owns a total of 530,380
shares, corresponding to 1.0% 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