Carlsberg A/S — Director's Dealing 2020

Feb 4, 2020

Notification and public disclosure of transactions in Carlsberg A/S shares by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Heine Dalsgaard
2.	Reason for the notification
a)	Position/status	Member of the Executive Board (CFO)
b)	Initial notification/Amend ment	Initial notification
3.	tion monitor	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auc
a)	Name	Carlsberg A/S
b)	LEI	5299001O0WJQYB5GYZ19
4. 1		Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instru ment	B-shares
	Identification code	DK0010181759
b)	Nature of the transaction	Vesting of performance shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0 DKK per share	22.215 shares
d)	Aggregated information
	- Aggregated volume
	- Price	N/A
e)	Date of the transaction	2020-02-04
f)	Place of the transaction	Outside a trading venue
4. 2		Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instru ment	B-shares
	Identification code	DK0010181759
b)	Nature of the transaction	Sale of vested performance shares
c)	Price(s) and volume(s)
		Price(s) 987,29 DKK per share	Volume(s) 17.000 shares
d)	Aggregated information
	- Aggregated volume
	- Price	N/A
e)	Date of the transaction	2020-02-04 at 08:44 UTC (09:44 DK time)
f)	Place of the transaction	Nasdaq Copenhagen (XCSE)