Company announcement No 16/2017– 3 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              95,032               289.02         27,466,413.11
 announcement                                                                   
--------------------------------------------------------------------------------
27 March 2017                     500               287.33            143,663.50
--------------------------------------------------------------------------------
28 March 2017                   3,431               287,73            987,212.61
--------------------------------------------------------------------------------
29 March 2017                   9,270               286.42          2,655,144.92
--------------------------------------------------------------------------------
30 March 2017                   3,993               287.90          1,149,582.70
--------------------------------------------------------------------------------
31 March 2017                   2,367               289.36            684.920,80
--------------------------------------------------------------------------------
Accumulated under the         114,593               288.73         33,086,937.64
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1,656,280
shares, corresponding to 3.1% 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.