Company announcement No 9/2017– 20 February 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           1,465,978                295.08       432,579,584.65
 announcement                                                                   
--------------------------------------------------------------------------------
13 February 2017                4,532                270.00         1,223,622.33
--------------------------------------------------------------------------------
14 February 2017                5,165                269.72         1,393,099.15
--------------------------------------------------------------------------------
15 February 2017                7,634                271.15         2,069,981.24
--------------------------------------------------------------------------------
16 February 2017                5,000                270.27         1,351,353.50
--------------------------------------------------------------------------------
17 February 2017                3,591                271.58           975,258.14
--------------------------------------------------------------------------------
Accumulated under the       1,491,900                294.65       439,592,899.01
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,803,741
shares, corresponding to 3.3% 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 29 23 00 44.

Yours sincerely

Royal Unibrew A/S

Lars Jensen

CFO

Encl.