Pursuant to section 28(a) of the Danish Securities Trading Act Carlsberg A/S shall report the transactions in Carlsberg A/S shares of managerial staff and connected persons. Following the below-mentioned transactions, Jørgen Buhl Rasmussen's Carlsberg share holding has increased by 888 shares corresponding to a market price of DKK 479,076 (at the share price of the latter transaction).
| Name: | Jørgen Buhl Rasmussen |
| Reason: | Member of Carlsberg A/S Executive Board |
| Issuer: | Carlsberg A/S |
| ISIN code: | DK0010181759 |
| Type: | Shares |
| Transaction: | Exercise of share options granted in 2007 (exercised in connection with expiry) |
| Trading date: | 20 February 2015 |
| Market: | OMX Nordic Exchange |
| Number: | 12,388 |
| Market price in DKK: | DKK 5,848,499 |
| Name: | Jørgen Buhl Rasmussen | |
| Reason: | Member of Carlsberg A/S Executive Board | |
| Issuer: | Carlsberg A/S | |
| ISIN code: | DK0010181759 | |
| Type: | Shares | |
| Transaction: | Sale of shares (partial sale of shares acquired in connection with expiry of share options granted in 2007) | |
| Trading date: | 20 February 2015 | |
| Market: | OMX Nordic Exchange | |
| Number: | 11,500 | |
| Market price in DKK: | DKK 6,204,250 | |
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Contacts: Monica Gregers Smith, Group Legal, +45 3327 2198 |
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