Company announcement No 22/2017– 1 May 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             192,589               291.68         56,173,982.16
 announcement                                                                   
--------------------------------------------------------------------------------
24 April 2017                   1,156               304.21            351,671.27
--------------------------------------------------------------------------------
25 April 2017                   2,500               305.07            762,672.50
--------------------------------------------------------------------------------
26 April 2017                  27,460               304.29          8,355,808.89
--------------------------------------------------------------------------------
27 April 2017                       0                    -                     -
--------------------------------------------------------------------------------
28 April 2017                  11,150               296.09          3,301,360.02
--------------------------------------------------------------------------------
Accumulated under the         234,855               293.57         68,945,494.83
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,776,542
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.