COMPANY ANNOUNCEMENT NO 4/2018–  8 JANUARY 2018



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           1,361,800                325.44       443,186,341.14
 announcement                                                                   
--------------------------------------------------------------------------------
2 January 2018                  8,000                371.27         2,970,128.00
--------------------------------------------------------------------------------
3 January 2018                  6,306                371.27         2,341,243.12
--------------------------------------------------------------------------------
4 January 2018                  5,197                370.21         1,923,972.02
--------------------------------------------------------------------------------
5 January 2018                  8,000                375.98         3,007,856.00
--------------------------------------------------------------------------------
Accumulated under the       1,389,303                326.37       453,429,540.28
 programme                                                                      
--------------------------------------------------------------------------------

With the transactions stated above Royal Unibrew owns a total of 1.530.990
shares, corresponding to 2.9% 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





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