Company announcement No 11/2016– 7 March 2016





On 2 March 2016, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 10/2016 of 1 March 2016. The programme is 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 2
March 2016 to 28 February 2017. The total share buy-back in the period will not
exceed a market price of DKK 450 million. 


The following transactions have been made under the programme:



                              Number    Average purchase     Transaction value, 
                                of            price                  DKK        
                              shares                                            
--------------------------------------------------------------------------------
Accumulated, last                   0                    0                     0
 announcement                                                                   
--------------------------------------------------------------------------------
2 March 2016                    8,798               286.08          2,516,890.49
--------------------------------------------------------------------------------
3 March 2016                    4,146               292.93          1,214,493.17
--------------------------------------------------------------------------------
4 March 2016                    3,325               298.55            992,667.78
--------------------------------------------------------------------------------
Accumulated under the          16,269               290.37          4,724,051.44
 programme                                                                      
--------------------------------------------------------------------------------



With the transactions stated above, Royal Unibrew owns a total of 1,720,610
shares, 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