Company announcement No 10/2017– 27 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           1,491,900                294.65       439,592,899.01
 announcement                                                                   
--------------------------------------------------------------------------------
20 February 2017                5,000                272.15         1,360,773.00
--------------------------------------------------------------------------------
21 February 2017                  227                275.40            62,515.80
--------------------------------------------------------------------------------
22 February 2017                7,284                275.26         2,004,969.80
--------------------------------------------------------------------------------
23 February 2017               12,000                274.20         3,290,400.00
--------------------------------------------------------------------------------
24 February 2017               13,435                274.53         3,688,326.67
--------------------------------------------------------------------------------
Accumulated under the       1,529,846                294.15       449,999,884.29
 programme                                                                      
--------------------------------------------------------------------------------

Royal Unibrew's accumulated share buy-back from 2 March 2016 to 24 February
2017 amounts to 1,529,846 shares at a total cost of DKK 450 million. The
announced share buy-back programme has thus been completed. 

The transactions stated above imply that Royal Unibrew A/S now owns a total of
1,841,687 treasury shares of a nominal value of DKK 2 each, corresponding to
3.4% 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 29 23 00 44.

Yours sincerely

Royal Unibrew A/S



Lars Jensen

CFO

Encl.