Company announcement No 39/2017– 14 August 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             736,492               304.35        224,153,006.90
 announcement                                                                   
--------------------------------------------------------------------------------
7 August 2017                   5,235               318.08          1,665,161.89
--------------------------------------------------------------------------------
8 August 2017                   1,330               317.99            422,922.31
--------------------------------------------------------------------------------
9 August 2017                   5,443               314.07          1,709,503.15
--------------------------------------------------------------------------------
10 August 2017                  1,250               313.50            391,875.00
--------------------------------------------------------------------------------
11 August 2017                 17,201               310.93          5,348,312.09
--------------------------------------------------------------------------------
Accumulated under the         766,951               304.70        233,690,781.34
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 908,638
shares, corresponding to 1.7% of the share capital. The total amount of shares
in the company is 52,700,000, 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.