1.   Details of the person discharging managerial responsibilities/person closely associated   

a) Name: Carl Bache 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 1  : 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

a) Description of the financial instrument, type of instrument: B-shares  Identification code: DK0010181759

b) Nature of the transaction: Sale of shares

c) Price(s): 795.6 DKK per share Volume(s): 100 shares

d) Aggregated information - Aggregated volume: N/A - Price: N/A

e) Date of the transaction: 2018-08-21, 07:42 UTC (09:42 DK time)

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

1 LEI codes are currently not a mandatory field.

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