Heineken N.V. reports on 2025 first quarter trading

Amsterdam, 16 April 2025 – Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) announces

First quarter performance as anticipated, full year outlook unchanged

• Revenue €7,784 million, decreasing 4.9%
• Net revenue (beia) organic growth up 0.9%; per hectolitre increasing 3.3%
• Beer volume organic decrease of 2.1%
• Premium beer volume organic growth of 1.8%; Heineken^® volume growth of 4.6%
• Outlook for the full year unchanged; operating profit (beia) expected to grow organically 4% to 8%

Dolf van den Brink, Chairman of the Executive Board / CEO, commented:
"In the first quarter, we delivered a 0.9% organic increase in net revenue. As anticipated, primarily due to calendar-related factors, organic beer volume declined by 2.1%. Despite volatile consumer and geopolitical trends, we are performing within the range of expectations.

Our EverGreen strategy continues to shape the business. We maintained the delivery of high quality growth, with premium beer volume growing by 1.8% and Heineken^® volume up by 4.6%, outpacing overall volume growth. Vietnam, India, and Ethiopia delivered promising volume growth, benefitting from the strategic actions taken. The strength of our brand portfolio keeps improving, as shown across markets like Brazil and China. We are increasing our marketing and selling investments to further unlock the biggest opportunities. Furthermore, we are firmly on track to achieve our €0.4 billion gross savings target for 2025.

As the year progresses, we will be navigating a macroeconomic environment increasingly in flux, requiring us to stay agile and proactively adapt to changing circumstances. Considering the current conditions, we confirm our full year outlook to organically grow operating profit (beia) by 4% to 8%. This reflects our adaptability, whilst standing by our commitment to invest in growth and future-proofing our business."

HEINEKEN will host an analyst and investor conference call with Harold van den Broek, Chief Financial Officer, in relation to its First Quarter 2025 Trading Update on 16 April at 14:00 CET/13:00 GMT. The call will be audio cast live via the company’s website: www.theheinekencompany.com. An audio replay service will also be made available after the conference call at the above web address. Analysts and investors can dial-in using the following telephone numbers:

United Kingdom: +44 203 936 2999

Netherlands: +31 85 888 7233

United States: +1 646 664 1960

All other locations: +44 203 936 2999

For the full list of dial in numbers, please refer to the following link: Global Dial-In Numbers

Participation password for all countries: 522422

Attachment

• HEINEKEN Q1 2025 Trading Update