Carlsberg A/S — Capital/Financing Update 2017

Aug 30, 2017

Carlsberg A/S 100 Ny Carlsberg Vej Tel +45 3327 3300 1799 Copenhagen V contact@carlsberg.com CVR.no. 61056416 www.carlsberggroup.com LEI 5299001O0WJQYB5GYZ19

Company announcement 05/2017 30 August 2017

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Carlsberg issues 6-year EUR notes

Carlsberg Breweries A/S has today successfully placed 6-year EUR notes for a principal amount of EUR 500m with a coupon of 0.5%.

The notes have been issued under the company's Euro Medium-Term Notes (EMTN) programme and will be listed on the Luxembourg Stock Exchange.

The proceeds of the offering will be used for general corporate purposes, including repayment of the EUR 1bn notes maturing on 13 October 2017.

Nordea, MUFG and Société Générale acted as active bookrunners.

CFO Heine Dalsgaard says: "As part of our prudent financial policy, we are taking the opportunity to utilise the current market conditions to lock in attractive interest rates and extend the maturity profile of our debt. We're pleased with the high investor interest in the notes issue and consider it evidence of trust in our focus on improving profitability and cash flow."

Contacts

Investor Relations: Peter Kondrup +45 3327 1221 Iben Steiness +45 3327 1232 Media Relations: Kasper Elbjørn +45 4179 1216 Anders Bering +45 4179 1217 For more news, sign up on www.carlsberggroup.com/subscribe or follow @CarlsbergGroup on Twitter.