Company announcement No 54/2017– 30 October 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 of    Average purchase     Transaction value,
                             shares           price                  DKK        
--------------------------------------------------------------------------------
Accumulated, last           1,008,104                312.42       314,948,792.99
 announcement                                                                   
--------------------------------------------------------------------------------
23 October 2017                 3,511                360.35         1,265,184.29
--------------------------------------------------------------------------------
24 October 2017                 8,719                360.85         3,146,240.69
--------------------------------------------------------------------------------
25 October 2017                 5,017                358.67         1,799,439.76
--------------------------------------------------------------------------------
26 October 2017                 3,429                357.88         1,227,159.20
--------------------------------------------------------------------------------
27 October 2017                 4,355                362.52         1,578,776.34
--------------------------------------------------------------------------------
Accumulated under the       1,033,135                313.58       323,965,593.27
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,174,822
shares, corresponding to 2.2% 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.