Company announcement No 8/2016– 23 February 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 was expected to be realised in the period from 11
March 2015 to 1 March 2016. The total share buy-back in the period would 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           1,363,063                248.43       338,624,404.49
 announcement                                                                   
--------------------------------------------------------------------------------
15 February 2016                5,868                271.20         1,591,406.29
--------------------------------------------------------------------------------
16 February 2016                6,519                273.50         1,782,943.89
--------------------------------------------------------------------------------
17 February 2016               11,023                274.54         3,026,203.71
--------------------------------------------------------------------------------
18 February 2016                6,085                277.40         1,687,985.09
--------------------------------------------------------------------------------
19 February 2016                6,500                277.30         1,802,473.40
--------------------------------------------------------------------------------
22 February 2016                5,283                280.97         1,484,362.94
--------------------------------------------------------------------------------
Accumulated under the       1,404,341                249.23       349,999,779.81
 programme                                                                      
--------------------------------------------------------------------------------

Royal Unibrew’s accumulated share buy-back from 11 March 2015 to 22 February
2016 amounts to 1,404,341 shares at a total cost of DKK 350 million. The
announced share buy-back programme has thus been completed. 

The transactions stated above imply that Royal Unibrew A/S now owns a total of
1,704,341 treasury shares of a nominal value of DKK 2 each, corresponding to
3.1% 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