Company announcement No 25/2016– 17 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 249,526 298.47 74,476,657.00 announcement -------------------------------------------------------------------------------- 9 May 2016 6,935 292.72 2,029,997.94 -------------------------------------------------------------------------------- 10 May 2016 6,970 292.37 2,037,784.75 -------------------------------------------------------------------------------- 11 May 2016 5,205 288.96 1,504,055.02 -------------------------------------------------------------------------------- 12 May 2016 4,998 290.88 1,453,816.74 -------------------------------------------------------------------------------- 13 May 2016 6,085 293.38 1,785,243.47 -------------------------------------------------------------------------------- Accumulated under the 279.719 297,75 83,287,554.92 programme -------------------------------------------------------------------------------- With the transactions stated above, Royal Unibrew owns a total of 1,984,060 shares, corresponding to 3.6% 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