Company announcement No 12/2016– 14 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 16,269 290.37 4,724,051.44 announcement -------------------------------------------------------------------------------- 7 March 2016 7,736 296.42 2,293,079.59 -------------------------------------------------------------------------------- 8 March 2016 3,816 294.45 1,123,629.60 -------------------------------------------------------------------------------- 9 March 2016 5,000 296.22 1,481,106.50 -------------------------------------------------------------------------------- 10 March 2016 12,000 294.28 3,531,352.80 -------------------------------------------------------------------------------- 11 March 2016 4,008 296.18 1,187,096.25 -------------------------------------------------------------------------------- Accumulated under the 48,829 293.68 14,340,316.18 programme -------------------------------------------------------------------------------- With the transactions stated above, Royal Unibrew owns a total of 1,769,439 shares, corresponding to 3.2 % 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