Company announcement No 13/2017– 20 March 2017





On 9 March 2017, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 12/2017 of 8 March 2017. The programme is carried out
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 the resulting delegated legislation. The share buy-back programme is
expected to be realised in the period from 9 March 2017 to 28 February 2018.
The total share buy-back in the period will not exceed a market price of DKK
560 million. 

The following transactions have been made under the programme:

                              Number    Average purchase     Transaction value, 
                                of            price                  DKK        
                              shares                                            
--------------------------------------------------------------------------------
Accumulated, last                   0                    -                     0
 announcement                                                                   
--------------------------------------------------------------------------------
9 March 2017                   13,448               286.75          3,856,189.79
--------------------------------------------------------------------------------
10 March 2017                   2,000               290.78            581,566.00
--------------------------------------------------------------------------------
13 March 2017                   7,660               293.76          2,250,184.75
--------------------------------------------------------------------------------
14 March 2017                  17,643               293.64          5,180,688.76
--------------------------------------------------------------------------------
15 March 2017                   4,418               291.65          1,288,530.91
--------------------------------------------------------------------------------
16 March 2017                   6,917               288.51          1,995,619.52
--------------------------------------------------------------------------------
17 March 2017                   3,795               287.79          1,092,157.74
--------------------------------------------------------------------------------
Accumulated under the          55,881               290.71         16,244,937.46
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,597,568
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 29 23 00 44.

Yours sincerely

Royal Unibrew A/S

Lars Jensen

CFO



Encl.