Company announcement No 37/2016–  4 July 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 carried out
on the same terms, but from 3 July 2016 under Art. 5 of Regulation (EU) No
596/2014 of the European Parliament and of the Council of 16 April 2014 on
market abuse (the Market Abuse Regulation - MAR) and delegated legislation
under MAR. 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             484,958               294.94        143,034,907.50
 announcement                                                                   
--------------------------------------------------------------------------------
27 June 2016                    8,514               277.29          2,360,861.53
--------------------------------------------------------------------------------
28 June 2016                    8,169               281.03          2,295,771.65
--------------------------------------------------------------------------------
29 June 2016                    2,500               287.91            719,772.00
--------------------------------------------------------------------------------
30 June 2016                    1,623               293.94            477,061.70
--------------------------------------------------------------------------------
1 July 2016                     2,447               300.28            734,797.15
--------------------------------------------------------------------------------
Accumulated under the         508,211               294.41        149,623,171.53
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 820,052
shares, corresponding to 1.5% of the share capital. The total amount of shares
in the company is 54,100,000, 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



Encl.