The following transactions have been made under the program in the period 3 September September 2018:

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1 BANG & OLUFSEN A/S ANNOUNCEMENT NO SEPTEMBER 2018 TRANSLATION Bang & Olufsen A/S share buyback programme On 3 September 2018, Bang & Olufsen initiated a share buyback programme in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules. Under the share buyback programme, which runs from 3 September 2018 and will end no later than 31 December 2019, Bang & Olufsen intends to buy back shares for an amount of up to DKK 485 million. The following transactions have been made under the program in the period 3 September September 2018: No. of shares Average purchase price (DKK) Transaction value (DKK) 3 September , ,348,400 4 September , ,320,500 5 September , ,458,400 6 September , ,494,400 7 September , ,615,790 Accumulated under the programme 79, ,237,490 Following the above transactions, Bang & Olufsen holds a total of 188,990 own shares corresponding to 0.4 % of the total share capital and the total voting rights in the company. For further information, please contact: Sr. Director, Global Finance, Malene Richter Christensen, tel.:

2 Information about the individual trades under the program in the period 3-7 September 2018: Volume Price Venue Time CET XCSE :03: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :05: XCSE :05: XCSE :05: XCSE :05: XCSE :12: XCSE :12: XCSE :22: XCSE :50: XCSE :50: XCSE :50: XCSE :50: XCSE :50: XCSE :50: XCSE :50: XCSE :50: XCSE :14: XCSE :14: XCSE :14: XCSE :15: XCSE :15: XCSE :15: XCSE :15: XCSE :30: XCSE :30: XCSE :30: XCSE :30: XCSE :51: XCSE :57: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :27: XCSE :18: XCSE :18:

3 XCSE :18: XCSE :18: XCSE :18: XCSE :18: XCSE :18: XCSE :18: XCSE :18: XCSE :18: XCSE :28: XCSE :28: XCSE :28: XCSE :30: XCSE :53: XCSE :56: XCSE :17: XCSE :17: XCSE :17: XCSE :17: XCSE :17: XCSE :25: XCSE :55: XCSE :07: XCSE :07: XCSE :31: XCSE :33: XCSE :33: XCSE :33: XCSE :33: XCSE :33: XCSE :41: XCSE :50: XCSE :36: XCSE :36: XCSE :40: XCSE :40: XCSE :40: XCSE :40: XCSE :40: XCSE :40: XCSE :41: XCSE :41: XCSE :42: XCSE :42: XCSE :42: XCSE :42: XCSE :43: XCSE :43: XCSE :43:

4 8 157 XCSE :43: XCSE :43: XCSE :45: XCSE :45: XCSE :45: XCSE :52: XCSE :52: XCSE :52: XCSE :52: XCSE :52: XCSE :52: XCSE :52: XCSE :52: XCSE :01: XCSE :01: XCSE :18: XCSE :18: XCSE :18: XCSE :26: XCSE :26: XCSE :26: XCSE :36: XCSE :36: XCSE :36: XCSE :39: XCSE :40: XCSE :44: XCSE :45: XCSE :45: XCSE :45: XCSE :15: XCSE :21: XCSE :21: XCSE :21: XCSE :21: XCSE :24: XCSE :05: XCSE :05: XCSE :05: XCSE :05: XCSE :05: XCSE :30: XCSE :30: XCSE :44: XCSE :44: XCSE :53: XCSE :53: XCSE :53:

5 XCSE :53: XCSE :59: XCSE :59: XCSE :59: XCSE :59: XCSE :59: XCSE :59: XCSE :05: XCSE :05: XCSE :05: XCSE :59: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :11: XCSE :35: XCSE :35: XCSE :35: XCSE :35: XCSE :55: XCSE :56: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :10: XCSE :17: XCSE :17: XCSE :32: XCSE :32: XCSE :32: XCSE :32: XCSE :32: XCSE :32: XCSE :32: XCSE :32: XCSE :32: XCSE :32:

6 XCSE :32: XCSE :42: XCSE :42: XCSE :06: XCSE :11: XCSE :26: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :40: XCSE :40: XCSE :40: XCSE :40: XCSE :41: XCSE :41: XCSE :41: XCSE :41: XCSE :41: XCSE :41: XCSE :42: XCSE :42: XCSE :47: XCSE :47: XCSE :47: XCSE :47: XCSE :47: XCSE :47: XCSE :47: XCSE :01: XCSE :10: XCSE :10: XCSE :33: XCSE :33: XCSE :33: XCSE :38: XCSE :47: XCSE :00: XCSE :06: XCSE :14: XCSE :18: XCSE :19: XCSE :19: XCSE :19:

7 XCSE :19: XCSE :19: XCSE :20: XCSE :20: XCSE :20: XCSE :20: XCSE :21: XCSE :21: XCSE :22: XCSE :22: XCSE :22: XCSE :23: XCSE :23: XCSE :23: XCSE :26: XCSE :29: XCSE :29: XCSE :29: XCSE :29: XCSE :29: XCSE :29: XCSE :29: XCSE :40: XCSE :56: XCSE :56: XCSE :56: XCSE :56: XCSE :12: XCSE :12: XCSE :12: XCSE :12: XCSE :12: XCSE :28: XCSE :28: XCSE :39: XCSE :39: XCSE :39: XCSE :39: XCSE :39: XCSE :40: XCSE :30: XCSE :35: XCSE :46: XCSE :46: XCSE :47: XCSE :47: XCSE :16: XCSE :16:

8 XCSE :17: XCSE :17: XCSE :17: XCSE :17: XCSE :17: XCSE :17: XCSE :17: XCSE :38: XCSE :38: XCSE :54: XCSE :54: XCSE :54: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :55: XCSE :56: XCSE :56: XCSE :56: XCSE :56: XCSE :57: XCSE :57: XCSE :57: XCSE :57: XCSE :58: XCSE :58: XCSE :58: XCSE :58: XCSE :14: XCSE :14: XCSE :14: XCSE :14: XCSE :14: XCSE :14: XCSE :15: XCSE :15: XCSE :15: XCSE :26: XCSE :26: XCSE :54: XCSE :54: XCSE :01: XCSE :01: XCSE :10: XCSE :35: XCSE :47: XCSE :47:

9 XCSE :05: XCSE :06: XCSE :24: XCSE :24: XCSE :24: XCSE :24: XCSE :30: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :38: XCSE :39: XCSE :39: XCSE :39: XCSE :39: XCSE :41: XCSE :41: XCSE :41: XCSE :41: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :43: XCSE :49: XCSE :49: XCSE :49: XCSE :49: XCSE :01: XCSE :10: XCSE :10: XCSE :14: XCSE :27: XCSE :27: XCSE :27: XCSE :56:

10 XCSE :56: XCSE :56: XCSE :56: XCSE :56: XCSE :09: XCSE :09: XCSE :58: XCSE :58: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :25: XCSE :37: XCSE :37: XCSE :37: XCSE :37: XCSE :47: XCSE :57: XCSE :24: XCSE :58: XCSE :58: XCSE :11: XCSE :11: XCSE :15: XCSE :15: XCSE :23: XCSE :23: XCSE :33: XCSE :33: XCSE :44: XCSE :44: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08: XCSE :08:

11 XCSE :08: XCSE :36: XCSE :36: XCSE :38: XCSE :53: XCSE :53: XCSE :53: XCSE :53: XCSE :53: XCSE :53: XCSE :53: XCSE :53: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :04: XCSE :18: XCSE :25: XCSE :30: XCSE :35: XCSE :35: XCSE :39: XCSE :41: XCSE :41: XCSE :09: XCSE :27: XCSE :27: XCSE :27: XCSE :43: XCSE :43: XCSE :10: XCSE :10: XCSE :10: XCSE :24: XCSE :35: XCSE :35: XCSE :55: XCSE :55: XCSE :02: XCSE :02: XCSE :20: XCSE :22: XCSE :23: XCSE :23: XCSE :23: XCSE :23: XCSE :23:

12 XCSE :23: XCSE :23: XCSE :23: XCSE :23: XCSE :23: XCSE :25: XCSE :48: XCSE :52: XCSE :52: XCSE :53: XCSE :55: XCSE :55: XCSE :55: XCSE :01: XCSE :01: XCSE :02: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :03: XCSE :39: XCSE :40: XCSE :45: XCSE :49: XCSE :49: XCSE :49: XCSE :50: XCSE :04: XCSE :04: XCSE :04: XCSE :12: XCSE :26: XCSE :26: XCSE :29: XCSE :29: XCSE :35: XCSE :35: XCSE :35: XCSE :35: XCSE :57: XCSE :33: XCSE :35:

13 XCSE :35: XCSE :35: XCSE :10: XCSE :37: XCSE :37: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :44: XCSE :02: XCSE :02: XCSE :02: XCSE :02: XCSE :09: XCSE :12: XCSE :12: XCSE :12: XCSE :12: XCSE :12: XCSE :12: XCSE :12: XCSE :13: XCSE :27: XCSE :27: XCSE :39: XCSE :39: XCSE :40: XCSE :40: XCSE :40: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45: XCSE :45:

14 XCSE :45: XCSE :46: XCSE :46: XCSE :46: XCSE :47: XCSE :47:

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