Company announcement No 54/2016–  26 September 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             817,175               299.77        244,967,268.34
 announcement                                                                   
--------------------------------------------------------------------------------
19 September 2016               4,098               323.46          1,325,539.90
--------------------------------------------------------------------------------
20 September 2016               4,506               324.41          1,461,769.83
--------------------------------------------------------------------------------
21 September 2016               5,618               323.92          1,819,794.36
--------------------------------------------------------------------------------
22 September 2016               6,802               323.78          2,202,329.79
--------------------------------------------------------------------------------
23 September 2016               2,311               321.40            742,751.24
--------------------------------------------------------------------------------
Accumulated under the         840,510               300.44        252,519,453.47
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,161,351
shares, corresponding to 2.1% 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.