Royal UNIBREW

Transaction in Own Shares • Mar 10, 2015

COMPANY ANNOUNCEMENT NO. 2/2015 – 10 MARCH 2015

As mentioned in the Annual Report for 2014, the Board of Directors of Royal
Unibrew A/S has decided to initiate a share buy-back of up to DKK 350 million.

Objective

The objective of the share buy-back is to adjust the capital structure of Royal
Unibrew A/S in accordance with the target of this.

The Board of Directors expects to recommend to the AGM in 2016 that the shares
bought back be cancelled.

Authorisation

The share buy-back programme is initiated within the authorisation granted to
the Board of Directors at the Annual General Meeting of the Company on 29 April
2014, which will enable the Company to buy back shares for up to 10% of the
total share capital. The share buy-back programme will be established and
structured in accordance with Commission Regulation (EC) No 2273/2003 of 22
December 2003 (the so-called Safe Harbour method), which ensures that the
Company is protected against violation of insider legislation during the
buy-back process.

Share buy-back programme

The share buy-back programme is expected to be realised in the period from 11
March 2015 through 1 March 2016.

The maximum total share buy-back in the period will represent a market value of
DKK 350 million. Based on the share price at 10 March 2015, this will
correspond to approx. 289,000 shares of DKK 10 each at a total nominal value of
DKK 2,9 million, corresponding to approx 2.6% of the share capital. Royal
Unibrew has entered into an agreement with Nordea Bank Danmark A/S for Nordea
to handle the share buy-back as Lead Manager on behalf of Royal Unibrew. Nordea
will make all trading decisions independently of and without involving Royal
Unibrew. The shares bought back on each trading day will not exceed 25% of the
daily average trading volumes over the 20 trading days preceding the date of
purchase.

No shares will be bought back under the share buy-back programme at a price
exceeding the higher of the two following prices:

-- the price of the latest independent transaction; and

-- the highest independent bid on NASDAQ Copenhagen.

Royal Unibrew will be entitled to suspend the share buy-back programme in the
event of material changes to the Company’s circumstances or in the market.
Should the programme be suspended, Royal Unibrew will announce this in a
Company Announcement, and Nordea will stop buying back shares in the market.

Royal Unibrew will announce the number of shares bought back and their value in
separate weekly Company Announcements.

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 text shall prevail.