Company announcement No 59/2016–  31 October 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 of    Average purchase     Transaction value,
                             shares           price                  DKK        
--------------------------------------------------------------------------------
Accumulated, last             980,444                303.63       297,690,284.51
 announcement                                                                   
--------------------------------------------------------------------------------
24 October 2016                 6,096                323.25         1,970,524.68
--------------------------------------------------------------------------------
25 October 2016                 5,224                321.89         1,681,566.94
--------------------------------------------------------------------------------
26 October 2016                 9,144                317.60         2,904,138.06
--------------------------------------------------------------------------------
27 October 2016                 8,643                315.15         2,723,812.06
--------------------------------------------------------------------------------
28 October 2016                 1,886                314.40           592,957.46
--------------------------------------------------------------------------------
Accumulated under the       1,011,437                304.09       307,563,283.71
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,323,278
shares, corresponding to 2.4% 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.