Company announcement No 19/2017– 24 April 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             168,789               290.23         48,986,808.59
 announcement                                                                   
--------------------------------------------------------------------------------
18 April 2017                   5,852               298.92          1,749,279.25
--------------------------------------------------------------------------------
19 April 2017                   4,142               301.38          1,248,328.39
--------------------------------------------------------------------------------
20 April 2017                   4,808               304.29          1,463,037.86
--------------------------------------------------------------------------------
21 April 2017                   8,998               303.01          2,726,528.07
--------------------------------------------------------------------------------
Accumulated under the         192,589               291.68         56,173,982.16
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,734,276
shares, corresponding to 3.2% 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.