Royal Unibrew enters into agreement to sell the distributor Impec in the Caribbean

Company Announcement No 45/2012 — 7 September 2012

As part of Royal Unibrew's strategic and management focus, the Company has today entered into a conditional agreement to sell 51% of the shares of Impec Holding SAS, which operates a distribution business in Guadeloupe and Martinique in the Caribbean. The agreement has been made with Impec Holding SAS represented by Christian-Jacques Bordaries, the founder and CEO of the company who owns 49% of the shares.

The long-term distribution agreement between Royal Unibrew and Impec Holding comprising a number of Royal Unibrew's malt and beer products will continue unchanged, and Royal Unibrew therefore expects to maintain its strong market position in Guadeloupe and Martinique.

The sale is expected to be realised at the end of October 2012, after which Impec Holding SAS will no longer be consolidated in the Consolidated Financial Statements of Royal Unibrew. On a full-year basis, the Group's earnings will be reduced by DKK 9 million (EBITDA and EBIT), whereas the effect in 2012 is expected to amount to DKK 4 million (EBITDA and EBIT).

The divestment is expected to result in a reduction of the Group's net revenue of DKK 130 million on an annual basis, whereas the effect will amount to DKK 30 million for the period November - December 2012.

The selling price of the shares is at the level of the carrying amount at the time of sale. The sale will reduce the Group's interest-bearing debt by DKK 15 million.

The outlook previously announced for 2012 is maintained.

Yours sincerely

Royal Unibrew A/S

Henrik Brandt

CEO

Please direct any questions to me at tel +45 56 77 15 13.