Company announcement nO 65/2016 –  28 november 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           1,117,086                303.77       339,336,890.11
 announcement                                                                   
--------------------------------------------------------------------------------
21 November 2016                4,548                292.79         1,331,624.38
--------------------------------------------------------------------------------
22 November 2016                5,160                292.98         1,511,758.22
--------------------------------------------------------------------------------
23 November 2016                2,712                295.45           801,257.15
--------------------------------------------------------------------------------
24 November 2016               12,835                274.66         3,525,259.81
--------------------------------------------------------------------------------
25 November 2016                7,349                281.72         2,070,392.62
--------------------------------------------------------------------------------
Accumulated under the       1,149,690                303.19       348,577,182.29
 programme                                                                      
--------------------------------------------------------------------------------



With the transactions stated above Royal Unibrew owns a total of 1,461,531
shares, corresponding to 2.7% 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.