Company announcement No 54/2015 – 14 December 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 of Average purchase Transaction value, shares price DKK -------------------------------------------------------------------------------- Accumulated, last 1,099,365 243.05 267,206,654.55 announcement -------------------------------------------------------------------------------- 7 December 2015 4,505 279.88 1,260,858.05 -------------------------------------------------------------------------------- 8 December 2015 11,006 280.02 3,081,892.42 -------------------------------------------------------------------------------- 9 December 2015 13,157 273.22 3,594,801.59 -------------------------------------------------------------------------------- 10 December 2015 7,731 269.92 2,086,784.76 -------------------------------------------------------------------------------- 11 December 2015 6,500 265.68 1,726,932.35 -------------------------------------------------------------------------------- Accumulated under the 1,142,264 244.21 278,957,923.72 programme -------------------------------------------------------------------------------- With the transactions stated above, Royal Unibrew owns a total of 1,442,264 shares, corresponding to 2.6% 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