Company announcement No 67/2016–  5 December 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           1,149,690                303.19       348,577,182.29
 announcement                                                                   
--------------------------------------------------------------------------------
28 November 2016                4,634                279.76         1,296,399.50
--------------------------------------------------------------------------------
29 November 2016                6,316                276.09         1,743,783.81
--------------------------------------------------------------------------------
30 November 2016                7,655                277.57         2,124,760.08
--------------------------------------------------------------------------------
1 December 2016                25,497                258.05         6,579,531.43
--------------------------------------------------------------------------------
2 December 2016                 7,000                253.93         1,777,533.80
--------------------------------------------------------------------------------
Accumulated under the       1,200,792                301.55       362,099,190.91
 programme                                                                      
--------------------------------------------------------------------------------



With the transactions stated above Royal Unibrew owns a total of 1,512,633
shares, corresponding to 2.8% 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.