Company announcement nNo 46/2015 – 2 NOovember 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 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 893,941 236.35 211,286,524.96 announcement -------------------------------------------------------------------------------- 26 October 2015 5,585 254.69 1,422,430.80 -------------------------------------------------------------------------------- 27 October 2015 5,500 258.90 1,423,933.50 -------------------------------------------------------------------------------- 28 October 2015 6,000 265.53 1,593,178.80 -------------------------------------------------------------------------------- 29 October 2015 6,366 265.95 1,693,028.79 -------------------------------------------------------------------------------- 30 October 2015 7,270 268.38 1,951,102.24 -------------------------------------------------------------------------------- Accumulated under the 924,662 237.24 219,370,199.10 programme -------------------------------------------------------------------------------- With the transactions stated above, Royal Unibrew owns a total of 1,224,662 shares, corresponding to 2.2% 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