Company announcement No 2/2017–  9 January 2017



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           1,291,266                298.84       385,884,670.48
 announcement                                                                   
--------------------------------------------------------------------------------
2 January 2017                  2,108                273.33           576,184.07
--------------------------------------------------------------------------------
3 January 2017                 31,500                271.59         8,555,144.85
--------------------------------------------------------------------------------
4 January 2017                  2,500                269.94           674,850.00
--------------------------------------------------------------------------------
5 January 2017                  1,232                269.91           332,523.95
--------------------------------------------------------------------------------
6 January 2017                  1,660                269.83           447,919.96
--------------------------------------------------------------------------------
Accumulated under the       1,330,266                298.04       396,471,293.30
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,642,107
shares, corresponding to 3.0% 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.