Notification and public disclosure of transactions in Carlsberg A/S shares by persons discharging managerial responsibilities and persons closely associated with them

1. Details of the person discharging managerial responsibilities/person closely associated  
a) Name:  Nina Smith 

2. Reason for the notification
a) Position/status: Member of the Carlsberg A/S Supervisory Board
b) Initial notification/Amendment: Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name: Carlsberg A/S
b) LEI 5299001O0WJQYB5GYZ19

4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument: B-shares
Identification code: DK0010181759

b) Nature of the transaction: Sale of shares

Price(s): DKK 782.6 per share
Volume(s): 392 shares

d) Aggregated information
Aggregated volume: n/a
Price: n/a

e) Date of the transaction: 2018-02-07, 13.57 UTC (14.57 DK time)

f) Place of the transaction: Nasdaq Copenhagen (XCSE)