23 Shareholder Information 03/01/00 01/07/00 01/04/00 01/10/00 01/01/01 01/04/01 01/07/01 01/10/01 01/12/01 90 100 110 60 70 80 120 130 140 150 160 170 180 Carlsberg B KFX Benchmark Peer group-index consisting of Heineken, Interbrew, SAB, S&N and Carlsberg for the period 1.1.2000 - 31.12.2001 TURNOVER OF CARLSBERG B AT THE COPENHAGEN STOCK EXCHANGE A/S DURING THE PERIOD 2 JANUARY 2001 - 31 DECEMBER 2001 DEVELOPMENT OF THE CARLSBERG B-SHARE COMPARED TO THE KFX-INDEX AND A PEER GROUP INDEX CONSISTING OF HEINEKEN, INTERBREW, SAB, S&N AND CARLSBERG FOR THE PERIOD 1 JANUARY 2000 - 31 DECEMBER 2001 JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER Million shares 8 7 6 5 4 3 2 1 0