Company announcement No 23/2016– 2 May 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 204,701 300.02 61,415,082.72 announcement -------------------------------------------------------------------------------- 25 April 2016 1,708 293.17 500,729.92 -------------------------------------------------------------------------------- 26 April 2016 8,601 295.26 2,539,567.38 -------------------------------------------------------------------------------- 27 April 2016 2,591 293.15 759,540.51 -------------------------------------------------------------------------------- 28 April 2016 1,500 286.68 430,022.85 -------------------------------------------------------------------------------- 29 April 2016 4,654 290.91 1,353,872.80 -------------------------------------------------------------------------------- Accumulated under the 223,755 299.43 66,998,816.18 programme -------------------------------------------------------------------------------- With the transactions stated above, Royal Unibrew owns a total of 1,928,096 shares, corresponding to 3.5% 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