Company announcement nO 4/2016 – 25 January 2016 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 1,255,914 246.44 309,507,397.46 announcement -------------------------------------------------------------------------------- 18 January 2016 4,776 256.36 1,224,372.02 -------------------------------------------------------------------------------- 19 January 2016 4,997 260.04 1,299,405.89 -------------------------------------------------------------------------------- 20 January 2016 11,884 256.79 3,051,739.90 -------------------------------------------------------------------------------- 21 January 2016 3,182 257.87 820,540.75 -------------------------------------------------------------------------------- 22 January 2016 4,120 270.51 1,114,511.91 -------------------------------------------------------------------------------- Accumulated under the 1,284,873 246.73 317,017,967.92 programme -------------------------------------------------------------------------------- With the transactions stated above, Royal Unibrew owns a total of 1,584,873 shares, corresponding to 2.9% 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