HEINEKEN Costa Rica will be the name of the company’s new operation following the integration of beverage, food, and retail operations acquired from Florida Ice and Farm Company (FIFCO) on January 30, 2026. The official unveiling of the new name and logo consolidates a new chapter for its presence in Central America, reinforcing the group’s regional strategy and expanding its global footprint.

HEINEKEN Costa Rica counts more than 4,600 employees, 4 manufacturing plants, 13 distribution centers, and more than 50 prestigious brands, including Imperial, Tropical, Pilsen, Bavaria, Ducal, the traditional HEINEKEN portfolio, as well as Musi and Musmanni stores, among others. HEINEKEN Costa Rica maintains a strong sustainability agenda and philosophy, aligned with HEINEKEN’s global commitments on water conservation, carbon emission reduction, circularity, diversity, equity, and inclusion, and promoting responsible alcohol consumption.

The new HEINEKEN Costa Rica logo
The new HEINEKEN Costa Rica logo seamlessly and symbolically merges the legacies of two century-old companies. The green and light blue barley seed reflects local heritage and incorporates iconic elements such as the crest of the Imperial beer eagle and the palm tree from Tropical soft drinks. This is complemented by HEINEKEN’s iconic red star and typography, representing the strength and consistency of the global brand. This symbol marks the beginning of a new chapter in Central America and reflects the ambition to integrate both legacies into a single identity.

Strategic integration with regional impact
The incorporation of these operations strengthens HEINEKEN’s EverGreen 2030 strategy, focused on premiumization, innovation, and long-term sustainable growth. HEINEKEN Costa Rica is positioned as a regional hub for commercial execution, portfolio development, innovation, and logistics strength across Central America.

HEINEKEN Costa Rica becomes one of the top five operations by operating profit within the company’s global ecosystem, enhancing its ability to grow as a multi-beverage company, generating value and synergies, and strengthening both revenue generation and operational efficiency in high-growth markets.

Global leadership presence at the unveiling

In this new phase, Rolando Carvajal Bravo will continue to lead the operation as General Manager of HEINEKEN Costa Rica, ensuring stability, continuity, and integration grounded in deep local market knowledge and the sustainability legacy built by the Costa Rican team. HEINEKEN Costa Rica will maintain its current services and operate as normal.

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• Total volume declined 1.2%, with consolidated volume down 2.1%, and licensed volume up 17.8%.
• Heineken® volume grew 2.7%, global brands volume grew 1.9%.
• Net revenue grew 1.6%, net revenue per hectolitre up 3.8%.
• Over 60% of our markets, including over 80% of our priority growth markets gaining or holding share.
• Marketing and selling expenses expanded to 9.9% of net revenue.

Profitability: Strong productivity gains enabling margin expansion 

• Gross savings in excess of €500 million, with an increased flow-through to profit.
• Operating profit grew 4.4% with operating profit margin expanding 41 bps to 15.2%.
• Diluted Earnings per Share (EPS) of €4.78, up 3.6% (2024: €4.89). 

Capital Efficiency: Another year of solid cash flow generation, with improved ROIC 

• Free Operating Cash Flow of €2.6 billion, translating into a cash conversion ratio of 87%.
• Return on Invested Capital (ROIC) absolute increase of 57 bps to 22.7%, incl goodwill & intangibles up 21 bps to 9.4%.
• Completed first tranche of the €1.5 billion share buyback programme, second €750 million tranche to start shortly.
• Dividend of €1.90 per share proposed. Dividend payout policy to be expanded to the range of 30% to 50%. 

2026: Accelerating the disciplined execution of EverGreen 2030, integrating FIFCO 

• Increasing investment in growth focused on global brands, faster innovation and sharper execution.
• Accelerating productivity at scale to unlock significant savings, reducing 5,000 to 6,000 roles over next two years.
• Integrating FIFCO beverage and retail businesses in Central America, expected to be immediately accretive to EPS.
• Anticipating FY2026 operating profit to grow in the range of 2% to 6%.

About HEINEKEN 

HEINEKEN is the world's pioneering beer company. We are the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, we have a portfolio of more than 340 international, regional, local, and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution, and focused cost management. Through "Brew a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants, and other production facilities in more than 70 countries. Most recent information is available on our Company's website, and follow us on LinkedIn and Instagram.

Market Abuse Regulation 

This press release contains price-sensitive information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Disclaimer

This press release contains forward-looking statements based on current expectations and assumptions with regard to the financial position and results of HEINEKEN’s activities, anticipated developments and other factors. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information in HEINEKEN’s non-financial reporting, such as HEINEKEN’s emission reduction and other climate change related matters (including actions, potential impacts and risks associated therewith). These forward-looking statements are identified by use of terms and phrases such as “aim”, “ambition”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “milestones”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” and similar terms and phrases. These forward-looking statements, while based on management's current expectations and assumptions, are not guarantees of future performance since they are subject to numerous assumptions, known and unknown risks and uncertainties, which may change over time, that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN’s ability to control or estimate precisely, such as but not limited to future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials and other goods and services, interest-rate and exchange-rate fluctuations, changes in tax rates, changes in law, environmental and physical risks, change in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN’s publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. HEINEKEN assumes no duty to and does not undertake any obligation to update these forward-looking statements contained in this press release. Market share estimates contained in this press release are based on external sources, such as specialised research institutes, in combination with management estimates. HEINEKEN undertakes no responsibility for the accuracy or completeness of such external sources.

Much like a streaming platform’s most anticipated drop, “Praise the Bar” blends documentary-style storytelling with cinematic flair, spotlighting real pubs and bars, real people, and the unforgettable moments that happen when people get together and say ‘cheers’. 

For years, HEINEKEN has backed bars and pubs in all kinds of ways; investing in local venues, supporting owners through challenging times, and celebrating the role these spaces play in our communities. From investments like the GBP40 million boost for British pubs earlier this year to ongoing training for the perfect pour, helping bars thrive is part of HEINEKEN’s identity. Launching “Praise the Bar” is a natural next step in this journey, shining a light on the stories and connections that make bars so meaningful to people everywhere. 

🎬 Series Premiere: 13 November 2025 

• Trailer Launch across HEINEKEN’s YouTube, Instagram, LinkedIn, Threads, and Website 

 📺 Episode 1: UK – “The Gun” 

• Airs today- The series kicks off in London at The Gun, a historic pub where stories of friendship, family, and football unfold.  

Click here to watch the series 

- END - 

 Press enquiries  

Marlie Paauw  

E-mail: pressoffice@heineken.com   

Tel: +31-20-5239-355  

Heineken® 0.0 announces the expansion of its global sponsorship portfolio with a landmark global partnership with Premier Padel, the leading official professional padel tour worldwide. The partnership will make Heineken® 0.0 the Global Beer Partner for Premier Padel and establish itself in the world’s fastest-growing sport.

Heineken® 0.0, a champion of quality socializing, will celebrate padel’s vibrant social DNA by activating at Premier Padel’s events starting in 2026. With its refreshing taste and accessibility, Heineken® 0.0 is a natural fit for padel’s established social community and appeal to wellness seekers. In fact, more than 70% of padel players say they play for the social experience and often continue to socialize after matches—frequently over a beer—making this partnership a seamless extension of the sport’s culture.

During the 2025 season, the Tour featured 24 tournaments across 16 countries, holdings its first tournament in the US – the world’s most influential sports market. 2026 sees plans to expand the tour to new regions including Asia. The Tour continues to drive the sport’s expansion worldwide – over 600 players from 29 different countries have competed in Premier Padel’s men’s and women’s competitions during 2025 – underlining its role as a platform for international growth, diversity and excellence both on and off the court. 

The sponsorship gives Heineken® 0.0 the ability to connect with players and fans inspired by Premier Padel’s top professional game – celebrating the brand’s passion for creating elevated social experiences. And, with availability in over 190 countries, padel players everywhere can always enjoy a consistently refreshing Heineken® 0.0 or Heineken®.

Media contact: 

Heineken - Heinekensponsorship@wearetheromans.com

Premier Padel – david.moreno@premierpadel.com / seb.warwick@premierpadel.com

About HEINEKEN

HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ over 85,000 employees and operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken® N.V. and Heineken® Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken® N.V. (OTCQX: HEINY) and Heineken® Holding N.V. (OTCQX: HKHHY)

About Premier Padel

Premier Padel is the leading official professional padel tour worldwide, founded by Qatar Sports Investments (QSI) together with the International Padel Federation (FIP). Launched in 2022, over 500 players from around the world competed in Premier Padel tournaments in its first year and played in some of the most iconic venues in sports history. From 2025, Premier Padel includes 24 tournaments in 16 countries as the tour continues to grow the sport in new territories and in every dimension. As a global brand, Premier Padel also captures the dynamic essence and spirit of padel, with the sport embarking on an exciting new dawn on a global scale driven by the new unified global tour.

HEINEKEN is uniquely positioned to shape long-term growth through its advantaged global footprint with leading market positions in key fast growing emerging markets like India, Vietnam, Ethiopia and Mexico. HEINEKEN is also a global leader and pioneer in growing beer segments like premium beer and 0.0 beer. Sharper differentiation and focus across its geographical footprint, segments and brands provides further opportunity. By leveraging its global scale and accelerating digital deployment, HEINEKEN will step up Productivity and create a more agile, harmonised, and cost-effective Future Fit organisation. EverGreen 2030 is designed to deliver superior and balanced growth with attractive shareholder returns, while future-proofing the company.

Accelerate Growth

Over time the beer category is expected to structurally grow volume by ̴1% p.a., and HEINEKEN is uniquely positioned to seize this opportunity through its advantaged global footprint and strong presence in developed and emerging markets. In both types of markets, beer is gaining share of throat. In emerging markets, representing 80% of the global population, with only half the per capita beer consumption of developed markets, trends such as population growth led by Gen Z, urbanisation, and a growing middle class are fuelling demand. HEINEKEN is concentrating its efforts on 17 Focus Growth Markets and it will continue to build its leadership position across 50 markets where it already holds number one, or strong number two, positions. Footprint optimisation through targeted acquisitions and divestments will further strengthen HEINEKEN’s position, most recently illustrated by the announced acquisition of FIFCO's beverage and retail business in Central America.

At the same time, HEINEKEN is shaping the future of beer with leading brands and innovations across key segments: Premium, Mainstream, Low and No-alcohol (LoNo), and Beyond Beer. HEINEKEN pioneered for example, the next generation of 0.0 beer through superior taste, with premium positioning under the Heineken brand and by investing in social acceptability through advertising, availability, and F1 sponsorship. HEINEKEN is fast expanding brands and innovations in LoNo and Beyond Beer adapting to and creating new consumer trends.

Step up Productivity and Focus Future Fit

Productivity strengthens HEINEKEN's foundation and funds its EverGreen growth ambitions. The €3+ bn in gross savings achieved in the past five years under EverGreen 2025, supported HEINEKEN to counter inflation and navigate turbulent times. Going forward the company is targeting an additional €400-500 million in annual gross savings.

To deliver on these ambitions, HEINEKEN will double the size of HEINEKEN Business Services (HBS), creating global capability centres anchored in new technologies. This approach will enable local operating companies to focus on execution and winning with customers and consumers. Starting in 2026, HEINEKEN’s Amsterdam head office will transform into a more focused strategic centre, which includes a transition of roles to HBS and the redesign of selected departments.

Furthermore, HEINEKEN is accelerating its digital transformation and scaling the rollout of its Digital Backbone (DBB), a multi-year, €1+ bn investment transforming how HEINEKEN operates across more than 70 markets. Through its sharpened Brew a Better World ambitions, HEINEKEN will continue to invest in sustainability to deliver impact and long-term value.

Drive Value Creation

At the Capital Markets Event today, HEINEKEN will give guidance on its medium-term ambitions for EverGreen 2030 as follows:

• Building on the structural growth of the beer category and its advantaged footprint, HEINEKEN expects to deliver mid-single-digit organic net revenue growth.
• Supported by its stepped-up productivity programme, HEINEKEN expects for organic operating profit (beia) to be ahead of organic net revenue growth, and for organic earnings per share (EPS) to be in line or ahead of organic operating profit (beia) growth.
• With a structured focus on cash generation, HEINEKEN expects to deliver over 90% cash conversion and intends to introduce Returns on Invested Capital (ROIC) in its management incentive framework.
• HEINEKEN updates its water efficiency target to be below 2.6hl/hl by 2030 and reconfirms its commitments to scope 1 & 2 net zero carbon emissions by 2030 and diversity in talent.

A new Winning Aspiration

With the unveiling of EverGreen 2030, HEINEKEN is also launching its new winning aspiration, HEINEKEN, The World’s Pioneering Beer Company™. This aspiration combines the company’s legacy of over 160 years of global expansion, with its track record of innovative product development and brand building capability. Pioneering will be the key aspiration as the company enters the next phase to leverage much stronger its advantaged geographical footprint and portfolio of both global and local brands that deeply resonate with consumers.

HEINEKEN Capital Markets Event

EverGreen 2030 shall be presented 23 October 2025 to the investor community at HEINEKEN's Capital Markets Event in Seville, Spain. To follow the HEINEKEN Capital Markets Event live, please register here.

END

ENQUIRIES

_{Market Abuse Regulation}

_{This press release may contain price-sensitive information within the meaning of Article 7(1) of the EU Market Abuse Regulation.}

_Disclaimer

_{This press release contains forward-looking statements based on current expectations and assumptions with regard to the financial position and results of HEINEKEN’s activities, anticipated developments and other factors. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information in HEINEKEN’s nonfinancial reporting, such as HEINEKEN’s emission reduction and other climate change-related matters (including actions, potential impacts and risks associated therewith). These forward-looking statements are identified by use of terms and phrases such as “aim”, “ambition”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “milestones”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” and similar terms and phrases. These forward-looking statements, while based on management's current expectations and assumptions, are not guarantees of future performance since they are subject to numerous assumptions, known and unknown risks and uncertainties, which may change over time, that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.}

_{Many of these risks and uncertainties relate to factors that are beyond HEINEKEN’s ability to control or estimate precisely, such as but not limited to future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials and other goods and services, interest-rate and exchange rate fluctuations, changes in tax rates, changes in law, environmental and physical risks, change in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN’s publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. HEINEKEN assumes no duty to and does not undertake any obligation to update these forward-looking statements contained in this press release. Market share estimates contained in this press release are based on external sources, such as specialised research institutes, in combination with management estimates. HEINEKEN undertakes no responsibility for the accuracy or completeness of such external sources.}

The HEINEKEN Company is proud to share its recent wins at this year's Golden Drum Festival. Demonstrating the power of creativity and cultural relevance, we have won an impressive 19 Drum Awards at one of Europe’s most prestigious advertising and communications events. 

The recognition spans multiple campaigns and categories: from Film, Sustainability, and Innovation to Brand Building, Design, and Social Good. These accolades showcase HEINEKEN's ongoing commitment to harnessing creativity for meaningful brand impact, with their eponymous brand gathering top recognition with the Brand Grand Prix for their outstanding contribution to the industry.

In collaboration with long-standing global agency partner LePub, The HEINEKEN Company earned recognition for standout Heineken® brand projects such as ‘Pub Succession’, 'Starring Bars’, 'The Flipper’, 'Excuses Bar’, and ‘Pub Delivery’, as well as the Desperados brand 'Guao Guao' campaign. As a crowning achievement, HEINEKEN's lead agency LePub was awarded Agency of the Year, affirming the strength of the partnership and its role in delivering innovative, culturally resonant work. 

The Heineken® Pub Succession project stood out as a creative high point, securing the coveted Grand Prix and 1 Gold in the Engagement category, along with 1 Golden Drum for Brand Building, and a Silver Drum in B2B. This groundbreaking project combined compelling brand storytelling with cultural preservation and community engagement, driving a heartfelt recruitment effort to find the next publican for a historic Irish pub. 

The Flipper, a witty phone accessory designed to encourage people to put down their phones during social gatherings; by flipping it face down when it ‘heard’ the word cheers, earned three prestigious awards: a Silver Drum in Engagement and two Bronze Drums for Design and Innovation. Developed in collaboration with inventor and YouTuber Simone Giertz, this campaign tackled the growing issue of digital distraction. 

Pub Delivery clinched a Bronze Drum in Engagement for its fresh take on delivery and local visibility. Meanwhile, the Starring Bars campaign - transforming bars into authentic film sets for Heineken® commercials - garnered an impressive three Awards (two Silver and one Bronze Drum) across Engagement, Sustainable Business Solutions, and B2B. This powerful initiative reinforced HEINEKEN’s purpose-led commitment to supporting the hospitality sector through creative excellence and tangible business support.

The Excuses Bar campaign won a Silver Drum in the OOH category for its playful and inventive approach. Transforming bars into immersive, themed experiences, the campaign cleverly redefined "excuses" to go out, offering people genuine reasons to reconnect and engage in the real world. 

The Desperados brand ‘Guao Guao’ campaign also won big, claiming a prestigious Grand Prix in Film. The campaign's creative excellence was further recognized with 2 Gold and 1 Silver Drum for Motion Craft, 2 Silver across the Film and Sports, Pop Culture & Art categories, and an additional Bronze in Content.

List of Awards: 

BRAND GRAND PRIX: The HEINEKEN Company 

-- 

Heineken® Brand 

Excuses Bar 

• Silver Drum in Section One-Channel Drum / group C. Out of Home (OOH) / category Ambient & Experiential 

Pub Delivery 

• Bronze Drum in Section Omni-Channel Drum / group C. Engagement / category Direct 

Pub Succession 

• Grand Prix in Section Omni-Channel Drum / group C. Engagement / category Direct 

• Golden Drum in Section Omni-Channel Drum / group C. Engagement / category Public & Community Relations 

• Golden Drum in Section Creative Business Excellence Drum / group A. Brand Building / category Brand Strategy and Experience 

• Silver Drum in Section Creative Business Excellence Drum / group H. B2B / category B2B Brand Strategy & Experience 

Starring Bars 

• Silver Drum in Section Omni-Channel Drum / group C. Engagement / category Public & Community Relations 

• Silver Drum in Section Creative Business Excellence Drum / group D. Sustainable Business Solutions 

• Bronze Drum in Section Creative Business Excellence Drum / group H. B2B / category B2B Storytelling 

The Flipper 

• Silver Drum in Section Omni-Channel Drum / group C. Engagement / category Creative Use of Technology 

• Bronze Drum in Section One-Channel Drum / group F. Design / category Product Design 

• Bronze Drum in Section Creative Business Excellence Drum / group G. Innovation / category Product or Service Innovation 

Desperados 

Guao Guao 

• Grand Prix in Section One-Channel Drum / group A. Film / category Long Film 

• Golden Drum in Section Craft Drum / group B. Motion Craft (Video / Moving Images) / category Casting 

• Golden Drum in Section Craft Drum / group B. Motion Craft (Video / Moving Images) / category Original Music 

• Silver Drum in Section One-Channel Drum / group A. Film / category TV/Cinema Film 

• Silver Drum in Section Omni-Channel Drum / group F. Sports, Pop Culture & Art / category Entertainment 

• Silver Drum in Section Craft Drum / group B. Motion Craft (Video / Moving Images) / category Cinematography 

• Bronze Drum in Section Omni-Channel Drum / group B. Content / category Films 

END 

Media contact: 

Luca Orioli - LePub Senior PR Manager: luca.orioli@le.pub 

Accelerating and scaling digital and business transformation

EverGreen 2030 places technology and agility at the core of HEINEKEN’s growth plans. The company is scaling the rollout of its Digital Backbone (DBB), a multi-year programme transforming how HEINEKEN operates across more than 70 markets. By integrating over 40 digital platforms, DBB will simplify processes, unlock the power of data, and enable faster innovation. This will strengthen HEINEKEN’s ability to respond quickly and efficiently to consumer trends and market shifts.

Reshaping the global organisation for speed and impact

To deliver on its growth ambitions, HEINEKEN is evolving its organisational design. The company will accelerate at scale the expansion of HEINEKEN Business Services (HBS), creating global capability centres anchored in new technologies. This approach will enable local operating companies to focus on execution and winning with customers and consumers.

Starting in 2026, HEINEKEN Amsterdam head office will transform into a more focused strategic centre. The change will include a transition of roles to HBS and the redesign of selected departments. This will impact approximately 400 roles, which come on top of 200 roles of the Digital and Technology department already in transformation since October 2024. The changes will consist of a combination of relocation to HBS and roles ceasing to exist. By reducing complexity and speeding up decision-making, HEINEKEN will operate with greater impact, empower its teams, and position itself to capture growth opportunities more decisively.

A Strong HEINEKEN, fit for the Future

Looking Ahead

With EverGreen 2030, HEINEKEN takes a decisive step towards becoming a stronger, more agile, and future-ready organisation. The strategy will be formally presented at the Capital Markets Event, 23 October, in Seville, Spain.

Editorial information

HEINEKEN is the world's pioneering beer company. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 340 international, regional, local and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brew a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company's website and follow us on LinkedIn and Instagram.

The extended partnership reflects HEINEKEN’s belief that women’s football’s unique fan culture - where fans come together, mix freely, and enjoy the game in a spirit of joy and connection - is a powerful expression of true togetherness. It’s a celebration of inclusivity, diversity, and shared passion that brings people from around the world closer – on and off the pitch.

HEINEKEN has brewed the joy of true togetherness for over 160 years and - as the world’s most international brewer - recognises its role to protect this precious value in a time of growing social fragmentation. 

The brewer is committed to leading from the front, be it through fostering a culture of moderation through leading low-or-no alcohol beverages, running global campaigns that encourage screen-free in-person socialising, or partnering with major events that embody true togetherness - such as the UEFA Women’s Champions League. 

In line with HEINEKEN’s commitment to women’s sport, Heineken® will bring its sponsorship to life through activations that celebrate diversity, unite fans and create meaningful moments of connection around their shared passion for the game.

END

Notes to editors

 Media contact: 

HEINEKEN

Marlie Paauw, Global Media Lead: Pressoffice.heineken@heineken.com

The Romans

Heineken@wearetheromans.com 

HEINEKEN N.V. (‘HEINEKEN’) today announced it has signed a binding agreement to acquire the multi-category beverage portfolio and proximity retail business of the Florida Ice and Farm Company S.A. (‘FIFCO’). This transaction builds on a long-standing partnership that began in 1986 and was strengthened in 2002 with the acquisition of a 25% stake in FIFCO's beverages business in Costa Rica, Distribuidora La Florida.

The deal further advances HEINEKEN’s EverGreen strategy, driving premiumisation, innovation, and growth across high-potential markets. Costa Rica will become one of HEINEKEN's top 5 operating companies by operating profit, expanding its presence with a diverse portfolio of beverage brands - including the iconic Imperial beer - and a well-established retail network.

The transaction also includes Panama, where HEINEKEN will acquire the remaining 25% of HEINEKEN Panama, securing full ownership of the country’s fastest-growing brewer. In addition, it further strengthens HEINEKEN’s regional presence through an equal partnership in Nicaragua’s market-leading beer and beyond beer company, as well as ownership of diversified food and beverage operations in Guatemala.

Upon completion, HEINEKEN will acquire the following FIFCO interests:

• 75% stake in Distribuidora La Florida, covering its beverages, food, and retail division - which includes more than 300 proximity retail outlets in Costa Rica (Musmanni & Musi) - and overall operations, extending into El Salvador, Guatemala, and Honduras; FIFCO is exploring strategic alternatives for FIFCO USA.

• 75% stake in Nicaragua Brewing Holding, which holds a 49.85% indirect stake in Compañía Cervecera de Nicaragua, Nicaragua’s leading beverage company.

• 25% minority interest in HEINEKEN Panama.

• 100% stake in FIFCO’s beyond beer business in Mexico.

Following completion, HEINEKEN and/or its affiliates will hold 100% ownership of Distribuidora La Florida, HEINEKEN Panama and FIFCO Mexico, and 49.85% of Compañía Cervecera de Nicaragua. (See illustrative shareholding structure below).

Strategic rationale

• Consolidating the multi-category beverage leader in Costa Rica:

  • Well-established market leadership in beer (approximately 2.0 million hl), supported by iconic local and international brands, and an unparalleled route-to-consumer model.

  • Leading pan-regional beyond beer portfolio (approximately 0.5 million hl) across multiple brands with leading brand power.

  • Second largest soft drinks player (approximately 2.5 million hl), producing its own brands, such as Tropical, and being the bottling licensee for PepsiCo. The transaction will strengthen HEINEKEN's existing relationship with PepsiCo.

  • Well-positioned adjacent businesses including wines and spirits distribution, staple foods, and a retail business with more than 300 proximity outlets.

  • HEINEKEN gains full ownership of HEINEKEN Panama, one of the leading brewers growing approximately 20% CAGR (2019–2024) with year-over-year market share gains.

• Expansion of HEINEKEN’s footprint in Central America:

  • Compañía Cervecera de Nicaragua holds a leading beer and beyond beer portfolio with a fully integrated water and soft drinks operations, and a retail business with more than 250 proximity outlets.

  • A food and soft drinks platform in Guatemala, and a portfolio of fast-growing beyond beer brands in Mexico.

• Under HEINEKEN’s ownership, the Costa Rica business is expected to unlock revenue and cost synergies through the application of HEINEKEN's best practices across commercial execution, logistics and brewery operations.

Financial impact for HEINEKEN

• Total cash consideration paid for the equity stakes acquired by HEINEKEN will be approximately US$3.2 billion implying an acquisition multiple of 11.6x EV/EBITDA based on 2024 results.

• Distribuidora La Florida, which was previously accounted for as investment in associate with results reported under share of net profit/loss from associates, will be consolidated. 2024 results reported under local accounting policies amount to: Net Revenue of US$1,132m, EBITDA of US$334m and Operating Profit of US$278m (excluding FIFCO USA).

• The 49.85% ownership stake in Compañía Cervecera de Nicaragua will be accounted for as investment in associates and joint ventures and the results will be treated as share of profit/loss of associates and joint ventures. 

• The acquisition of the 25% minority interest in HEINEKEN Panama will reduce HEINEKEN's non-controlling interest in HEINEKEN Panama to zero.

• Run-rate cost savings of approximately US$50 million are anticipated through the application of HEINEKEN’s proven best practices.

• The transaction is expected to be immediately accretive to operating margin and EPS (beia).

• Post-transaction, HEINEKEN’s Net Debt is expected to increase by €3.2 billion and HEINEKEN's pro-forma Net Debt / EBITDA (beia) ratio is expected to increase modestly. HEINEKEN remains committed to return to its long-term target of below 2.5x. 

• HEINEKEN will continue to make progress on the previously announced share buy-back programme of €1.5 billion which is not affected by the proposed transaction.

Driving sustainable economic development across Central America

In line with its EverGreen strategy, HEINEKEN is deeply committed to driving long-term, sustainable growth across its operations. Through its Brew a Better World programme, it has set ambitious goals to deliver positive environmental and social impact. Recognising the strong complementarities with FIFCO’s programme and its embedded ESG strategy (FIFCO Sostenibilidad Expansiva), HEINEKEN will continue to invest in sustainable economic development and promoting responsible consumption throughout the region.

Next steps

Completion of the transaction between HEINEKEN and FIFCO is subject to customary regulatory approvals and the approval by the general shareholders’ meeting of FIFCO, which will take place in October 2025. The transaction is expected to be completed in H1 2026.

The deal has been approved unanimously by the board of directors of FIFCO, which includes representatives of FIFCO's key shareholders.

Further announcements will be made as and when appropriate. HEINEKEN and FIFCO will work closely together towards the completion of the transaction, ensuring a smooth integration, with a joint focus on continuity for employees, customers, and partners.

Download the full press release below.

Webcast details

HEINEKEN will host an analyst and investor conference call in relation to the transaction tomorrow, Tuesday 23 September, 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 (Local):  020 3936 2999
Netherlands (Local): 085 888 7233

United States (Local): 1 646 664 1960

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

Participation password for all countries: 838081

UBS AG, London Branch acted as financial adviser and Davis Polk & Wardwell LLP (USA) and Consortium Legal (Costa Rica) acted as legal counsel to HEINEKEN in connection with the transaction.

About HEINEKEN

HEINEKEN is the world's pioneering beer company. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 340 international, regional, local and specialty beers and ciders. 

With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brew a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company's website and follow us on LinkedIn and Instagram. 

About FIFCO

FIFCO is a Costa Rican company with over 117 years of trajectory in the beverage, food, retail, and hospitality sectors. With operations across Costa Rica, Central America, the Dominican Republic, Mexico, and the United States, FIFCO manages 5 production plants and 13 distribution centers, and exports to more than 10 countries worldwide. Its dynamic portfolio includes iconic brands such as Imperial, Pilsen, Bavaria, Adán y Eva, and Tropical, and it proudly partners with global leaders like PepsiCo, Diageo, Concha y Toro and Marriott. FIFCO is recognised for its commitment to innovation, sustainability, and excellence, and leads the region with a world-class ESG model — being water positive, carbon positive, and zero waste.

Media gallery: http://www.theheinekencompany.com/newsroom/media-gallery/

Media Contacts

Christiaan Prins

Director of Global Communications

Marlie Paauw

Global Media Lead

E-mail: pressoffice@heineken.com

Tel: +31-20-5239355

Investor enquiries

Tristan van Strien

Global Director of Investor Relations

Lennart Scholtus

Investor Relations Manager

E-mail: investors@heineken.com

Tel: +31-20-5239590

FIFCO Communications Office

Diego Villagra

Press Executive

E-mail: dvillagra@cckcentroamerica.com

Tel.: +506 8311-4993

Appendix: Illustrative shareholding structure

Market Abuse Regulation

This press release may contain price-sensitive information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

 Disclaimer:

This press release contains forward-looking statements based on current expectations and assumptions with regard to the financial position and results of HEINEKEN’s activities, anticipated developments and other factors. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information in HEINEKEN’s non-financial reporting, such as HEINEKEN’s emission reduction and other climate change related matters (including actions, potential impacts and risks associated therewith). These forward-looking statements are identified by use of terms and phrases such as “aim”, “ambition”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “milestones”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” and similar terms and phrases. These forward-looking statements, while based on management's current expectations and assumptions, are not guarantees of future performance since they are subject to numerous assumptions, known and unknown risks and uncertainties, which may change over time, that could cause actual results to differ materially from those expressed or implied in the forwardlooking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN’s ability to control or estimate precisely, such as but not limited to future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials and other goods and services, interest-rate and exchange-rate fluctuations, changes in tax rates, changes in law, environmental and physical risks, change in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN’s publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. HEINEKEN assumes no duty to and does not undertake any obligation to update these forward-looking statements contained in this press release. Market share estimates contained in this press release are based on external sources, such as specialised research institutes, in combination with management estimates. HEINEKEN undertakes no responsibility for the accuracy or completeness of such external sources.

In 2015, Marc was appointed President Americas and became a member of the Executive Team. Over the past decade, he has been a trusted colleague and a key contributor to HEINEKEN's global success. Under his leadership, the Americas region doubled its revenue, operating profit, and net profit. Both Mexico and Brazil emerged as solid profit contributors, playing a vital role in the region’s overall performance. Marc was instrumental in the acquisition of Brazil Kirin and its integration with our Brazilian operations, which is now our largest market for both Heineken® and Amstel, and a significant profit driver. He also led major transformations in supply chain efficiency, revenue management, and the deployment of AI-driven sales tools. Premiumisation and the rapid expansion of Heineken® 0.0 were key pillars of growth under his leadership. During his tenure, the Americas footprint expanded into Jamaica, Ecuador, Peru, the USA (Lagunitas), and Belize (JV).

A successor will be announced in due course.

- ENDS –

Press enquiries

Marlous den Bieman E-mail: pressoffice@heineken.com

Tel: +31-20-5239-355

Investor and analyst enquiries

Tristan van Strien / Lennart Scholtus E-mail: investors@heineken.com

Tel: +31-20-5239-590

About HEINEKEN

HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 340 international, regional, local and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brew a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company's website and follow us on LinkedIn and Instagram.

Creating traditions through innovation
As drinking occasions diversify, consumers are embracing new flavours, more natural ingredients, and are increasingly opting for low- and no-alcohol choices. With cutting-edge labs, sensory research facilities, packaging development departments and other resources, the Dr. H.P. Heineken Centre will accelerate product development and brewing advances to meet these changing needs. These innovations can include the next evolution of Heineken® 0.0, a new premium lager next to Heineken®, or beyond beer options for entirely new serving occasions.

Through this new Centre, HEINEKEN continues to lead in meeting changing consumer needs and beer innovations, ensuring the creation of drinks with legendary brands and experiences for present and future generations.

The R&D Centre connects Zoeterwoude with leading global universities

Strategically located near the Delft University of Technology and Europe’s largest brewery, the Centre bridges academic research, brewing expertise, and global market needs. The Centre is home to innovative, cross-disciplinary collaboration between HEINEKEN’s international R&D teams, universities, and suppliers, driving improvements in sustainable brewing and fermentation science.

About the Dr. H.P. Heineken Centre

The Centre is named after Dr. Henry Pierre Heineken (1886–1971). As a Doctor of Chemistry, the second-generation brewer developed and implemented quality improvements and innovative, laboratory-fueled ideas. His profound knowledge of chemistry and sharp business acumen positioned Henry Pierre as the first successor to HEINEKEN founder Gerard Adriaan Heineken and his wife, Mary Tindal, in 1914.

Key facts & figures:

• Location: Zoeterwoude, Netherlands (adjacent to the largest brewery in Europe)
• Size: 8,800 m²
• Investment: €45 million
• Staff: around 100 employees, from 12 nationalities
• Focus: Brewing innovation, flavour research, fermentation science, AI, packaging, and consumer science
• Purpose: Global hub dedicated to R&D in brewing innovation, next-generation product development and sustainability; leads HEINEKEN’s worldwide R&D network including hubs in Mexico, South Africa, and Vietnam.
• Facilities: Offices, labs, sensory research, packaging development, supporting global brands such as Heineken®, Desperados, and Amstel.
• Sustainability: Built to BENG standards with A++++ energy label, designed for long-term use.

About HEINEKEN
HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 350 international, regional, local and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brew a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company's website and follow us on LinkedIn and Instagram.

Press enquiries

Marlous den Bieman
E-mail: pressoffice.heineken@heineken.com
Tel: +316 237 583 85  

HEINEKEN Business Services India is an addition to HEINEKEN’s existing global network of connected hubs that will provide essential services and capabilities to Operating Companies within HEINEKEN. It is expected to be operational as of Q4 2025. The business services network plays an important part in HEINEKEN’s EVERGREEN strategy.

The expansion showcases HEINEKEN's continued investment in the optimal organisation to support long term sustainable growth and maintain competitiveness.

Guillaume Duverdier

Guillaume joined HEINEKEN in 2000 and has built an impressive 25-year career as a commercial leader and Managing Director across the business. He has operated in a wide range of markets differing in market archetype, size, complexity, and across multiple continents. He has been Managing Director in Tunesia, Egypt, Poland, Spain, and our largest operation globally Mexico. His track record of delivering strong business results across these varied markets is a testament to his expertise, adaptability and business acumen.

Most recently, Guillaume has served as Managing Director of HEINEKEN México since January 2022, where he significantly accelerated financial results and drove impactful strategic initiatives. Under his leadership, HEINEKEN México achieved outstanding business performance, with notable expansion of Six—HEINEKEN México’s retail chain of 17,000 stores—which is a foundation of the company’s market strategy. While accelerating digital transformation in sales, he also oversaw the commissioning of the Meoqui Can Factory—the first of its kind in the HEINEKEN world—supporting HEINEKEN’s vertical integration strategy and operational excellence. In terms of sustainability, HEINEKEN México became the company’s top performer in efficient water use, setting a benchmark across the global network.

Roland Pirmez

Roland began his career living and working in various African countries, including the Democratic Republic of Congo, before joining HEINEKEN in 1996 as Managing Director – Angola. From there he transitioned to Asia where he was General Manager of Thai Asia Pacific Brewery from 1998 to 2002. He then led HEINEKEN’s entry into the Russian market, building the business as CEO of HEINEKEN Russia until 2008.

After Russia, Roland returned to Asia Pacific as CEO of Asia Pacific Breweries, where he played a critical role in driving HEINEKEN’s business in the region. His tenure saw significant acceleration in growth, strengthening HEINEKEN APAC into a key pillar of our company’s global footprint.

During his ten-year tenure as Regional President for AME, Roland led the business through major volatility, including the COVID pandemic and major currency devaluations. Under his leadership, the AME region entered a new phase with the acquisition of Distell and Namibia Breweries Limited, creating Heineken Beverages in Southern Africa in 2022, and the announcement of the first major brewery in the Gulf region through the Sirocco Joint Venture.

Roland shaped the commercial growth agenda, building multi-category portfolios for top-line growth. He pioneered digitizing the route to consumer, leading to increased market grip, consistent market share gains, and improved customer satisfaction. His ability to lead in uncertain circumstances while delivering sustained performance made him a key figure of HEINEKEN’s global success.

Heineken Holding N.V. (Heineken Holding), HEINEKEN's majority shareholder, will participate pro rata to its shareholding in HEINEKEN's share buyback programme on a daily basis, pursuant to an agreement between HEINEKEN and Heineken Holding. The price per HEINEKEN share payable to Heineken Holding will be the volume-weighted average price of the shares acquired by HEINEKEN on market as part of the programme on the relevant day. HEINEKEN and Heineken Holding have entered into an arrangement to ensure Heineken Holding's participation in HEINEKEN's share buyback programme is implemented in conformity with Heineken Holding's articles of association.

The first tranche of the HEINEKEN share buyback programme is expected to be completed no later than 30 January 2026, or so much earlier as the amount dedicated to the first tranche has been spent, barring unforeseen circumstances. All shares that are repurchased under the programme will be cancelled. The share buyback programme may be suspended, modified, or discontinued at any time.

The programme will be executed within the existing authority granted in the 25 April 2024 HEINEKEN Annual General Meeting of Shareholders and the authority to be granted by future general meetings of HEINEKEN.

The programme will be executed in compliance with the Market Abuse Regulation 596/2014 and Commission Delegated Regulation (EU) 2016/1052 (as amended, “Market Abuse Regulation”), including, with respect to the repurchase of shares on the market, compliance with the safe harbour provisions for share buybacks.

HEINEKEN will inform the market of the progress of the programme through regular press releases and updates on its website (www.heinekencompany.com/investors).

Editorial information:

HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 340 international, regional, local and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brew a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company's website and follow us on LinkedIn and Instagram.

Disclaimer:

This press release contains forward-looking statements based on current expectations and assumptions with regards to the financial position and results of HEINEKEN’s activities, anticipated developments and other factors. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information in HEINEKEN’s non-financial reporting, such as HEINEKEN’s emissions reduction and other climate change related matters (including actions, potential impacts and risks associated therewith). These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “milestones”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” and similar terms and phrases. These forward-looking statements, while based on management's current expectations and assumptions, are not guarantees of future performance since they are subject to numerous assumptions, known and unknown risks and uncertainties, which may change over time, that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN’s ability to control or estimate precisely, such as but not limited to future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials and other goods and services, interest-rate and exchange-rate fluctuations, changes in tax rates, changes in law, environmental and physical risks, change in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN’s publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. HEINEKEN assumes no duty to and does not undertake any obligation to update these forward-looking statements contained in this press release. Market share estimates contained in this press release are based on outside sources, such as specialised research institutes, in combination with management estimates.

KEY HIGHLIGHTS

• Revenue €35,955 million 
• Net revenue (beia) 5.0% organic growth, per hectolitre 3.5% 
• Beer volume 1.6% organic growth; Heineken® volume up 8.8% 
• Operating profit €3,517 million; operating profit (beia) 8.3% organic growth 
• Operating profit (beia) margin 15.1%, up 40 bps 
• Net profit €978 million; net profit (beia) 7.3% organic growth 
• Diluted EPS (beia) €4.89 
• Free Operating Cash Flow €3,058 million 
• HEINEKEN to launch two-year €1.5 billion share buyback programme 
• Full year 2025 outlook: 4% to 8% operating profit (beia) organic growth

Financial Summary¹

_{¹Consolidated figures are used throughout this report, unless otherwise stated. Tables will not always cast due to rounding. Please refer to the Glossary for an explanation  of non-GAAP measures and other terms. Page 27 includes a reconciliation versus IFRS metrics. These non-GAAP measures are included in internal management reports  that are reviewed by the Executive Board of HEINEKEN, as management believes that this measurement is the most relevant in evaluating the results and in performance  management. Full year numbers are audited. 
²Organic growth shown, except for Diluted EPS (beia), which is total growth. 
³Includes acquisitions and excludes disposals on a 12-month pro-forma basis.}

Jean-Marc Huët, Chairman of the Supervisory Board of HEINEKEN, stated: "We are pleased to nominate Harold van den Broek for a next term. Under his leadership, HEINEKEN has realised significant revenue and operating profit growth, delivered a substantial cost savings programme and has accelerated its business transformation processes, despite global volatility. With his knowledge, experience and commitment Harold is the right person to continue the journey to deliver sustainable long-term value creation."

Harold van den Broek (born 1967, Dutch) was appointed as member of the Executive Board of HEINEKEN at the AGM in 2021. With over 30 years in fast-moving consumer goods, he has held various business and finance roles across business units, regions, and global functions in Europe, Asia, and Russia. After starting his career at Unilever in 1991 he joined Reckitt Benckiser in 2014 and served as CFO Hygiene and President Hygiene before joining HEINEKEN as CFO and member of the Executive Board on 1 June 2021.

·       Reappointment of Supervisory Board members Jean-Marc Huët (Chairman) and Pamela Mars-Wright

·       Appointment of Supervisory Board member and Vice-Chairman Peter Wennink

Reappointment of the CEO
Heineken N.V. (HEINEKEN) nominates Dolf van den Brink for reappointment as member of the Executive Board of the company at its Annual General Meeting (AGM) on 25 April 2024. The proposed reappointment is for a four-year term as per 1 June 2024.

Dolf van den Brink started his tenure as Chairman of the Executive Board and CEO of HEINEKEN on 1 June 2020, following a successful 22-year career at the company. Under his leadership, HEINEKEN embarked on the multi-year EverGreen strategy to future-proof the company and sustain growth in a fast-changing world. Despite global volatility, the company has delivered significant revenue and operating profit growth, successful productivity programs, fundamental digital and sustainability transformations and growth of its premium portfolio led by Heineken®. The company also extended its advantaged footprint with large acquisitions in Africa and India. 

Jean-Marc Huët, Chairman of the Supervisory Board, commented: “We are very pleased to nominate Dolf van den Brink for a next term as member of the Executive Board. Under his leadership, the EverGreen strategy was successfully launched to evolve the business and to deliver superior and balanced growth, with customers and consumers at the core. Dolf has built a strong leadership team and has accelerated the growth and development of HEINEKEN.” The Supervisory Board has reappointed Dolf van den Brink as Chairman of the Executive Board and Chief Executive Officer (CEO), conditional upon his reappointment as member of the Executive Board.

Reappointment and appointment of Supervisory Board members
A nomination for the reappointment of Jean-Marc Huët as member and Chairman of the Supervisory Board for a period of two years shall be submitted to the AGM 2024 for approval. The Supervisory Board proposes to reappoint Jean-Marc Huët in view of his dedicated leadership, resulting in a strong, diverse and highly committed Supervisory Board and a solid relationship with the Executive Board.

The Supervisory Board also proposes to reappoint Pamela Mars-Wright for a period of two years at the AGM 2024. The Supervisory Board proposes to reappoint Pamela Mars-Wright in view of her broad strategic business and commercial expertise as well as her experience in a family-controlled business and her valuable contributions to the Supervisory Board.

In addition, the Supervisory Board nominates Peter Wennink for appointment as member of the Supervisory Board, effective from the 2024 AGM for a period of four years. A Dutch national, Peter was appointed President and CEO of ASML on 1 July 2013, after joining the Board of Management of ASML in 1999 as Executive Vice President and Chief Financial Officer. Under his leadership, ASML has grown significantly to become one of the most successful and leading companies in the Netherlands and the world. Prior to ASML, Peter worked as a partner at Deloitte Accountants B.V. Peter also has experience in various non-executive roles. He holds a degree from the NIVRA School for Auditors.

Jean-Marc Huët commented: “We are delighted to nominate Peter Wennink as new member of our Supervisory Board, supporting the company in its aim to deliver sustainable long-term value creation for its stakeholders. With his many years of experience and exceptional qualities, Peter will bring valuable and new perspectives to the Supervisory Board.” The Supervisory Board has appointed Peter Wennink as Vice-Chairman of the Supervisory Board, conditional upon his appointment as member of the Supervisory Board.

_{*The proposed re-appointment date of Mr. Van den Brink is as per the AGM 2024 for a four-year term (and not as per 1 June 2024 as stated above, this was an omission). See also the correct details in the AGM 2024 agenda.} 

 

Soren Hagh
Soren was appointed as Regional President for Europe and member of the Executive Team in March 2020. Over the last 3.5 years, as part of our EverGreen strategy, he has led the fundamental transformation of our European business, focusing on improving profitability and value creation by winning in premium, digitally transforming our route-to-consumer, and leveraging our scale advantage. He has led an end-to-end transformation of the regional supply chain network to step change productivity, increase asset utilisation, improve innovation rates and put us on the path to deliver our net-zero ambitions in the region. In parallel, his teams have focused on strengthening their premium portfolios and launching a next generation of premium brands that connect to Gen Y and Z. Soren has also led a bold transformation of our route-to-market in Horeca by launching the Eazle platform across the region and building it into the industry leading eB2B platform in Europe.

Soren joined HEINEKEN in 2013 as HEINEKEN’s Executive Director Global Marketing. In 2016 he was appointed Managing Director of HEINEKEN Italy, where he successfully led the premiumisation of HEINEKEN’s brand portfolio, drove innovation of local brands and accelerated the digitisation of the wholesale business. Prior to HEINEKEN, he held several senior management positions at LEGO, DIAGEO and L’Oréal.

Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “I would like to express my gratitude to Soren for his significant contributions to HEINEKEN over the last ten years. Soren has driven our EverGreen transformation in Europe investing in our premium portfolio and driving innovation at scale, whilst also building a future-fit organisation by leveraging our supply chain network and digitally transforming our route-to-consumer. He has been a valuable member of the Executive Team and I wish him every success in his future ventures.”

Glenn Caton
Glenn joins HEINEKEN after 10 years at Mondelez International where he is currently Senior Vice President, Global Commerce based in Chicago with responsibility for channel strategy; revenue growth management; customer partnerships and sales excellence.  Glenn’s passion for customer and consumer centric growth and commercial excellence has helped establish stronger capabilities and business impact; with Mondelez being one of the world’s fastest growing, global consumer products companies in 2023. 

He started at Mondelez in 2013 as VP for Chocolate Northern Europe before becoming President, Northern Europe in 2016, where he delivered strong top and bottom-line growth through a focus on world-class manufacturing, commercial excellence and a refreshed brand marketing. He moved to Singapore in 2018, initially as Category President for Chocolate across Asia, Middle East and Africa before becoming Business Unit President for South-East Asia where he successfully steered the business through the COVID pandemic, driving growth, productivity and strengthening the organisation.

Glenn started his career at P&G, where he worked for 9 years based in the UK and Geneva in roles across Sales and Marketing. He then moved into the wine sector as Senior Marketing Director for Europe at E&J Gallo in 2003. In 2006 he joined Hiscox Insurance as UK Sales & Marketing Director and subsequently Managing Director of the UK Direct to Consumer business based in London; where he led the shift from a B2B business to a more consumer-orientated, brand-led business. After 4 years he returned to the wine sector as UK Managing Director of Direct Wines, the largest consumer wine business in the world.

Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “Glenn brings great experience of operating across different sectors, regions and cultures. He has driven growth and innovation and delivered consistently strong results leading businesses in FMCG, financial services, direct-to-consumer and retail. He is an entrepreneurial, highly commercial, and creative leader who has demonstrated a clear ability to build highly motivated teams that drive for results and deliver change. He will be a great addition to HEINEKEN and our Executive Team, and I very much look forward to working with him.”

James Thompson
James joined HEINEKEN in early 2021 at a crucial stage of our EverGreen transformation to help us shape our growth and innovation strategy. He brought considerable external experience and expertise from a nearly forty-year commercial career.

Under his leadership, we launched our refreshed consumer demand spaces framework to become more consumer centric, which is now embedded across the business. He has reignited creativity in our brand building to accelerate brand power and kicked-off the first Innovation hubs in Singapore, the USA, Mexico, the Netherlands, and South Africa to build strong expansive innovation pipelines, which will be critical to drive the change in scale and shape of our innovation for delivering our EverGreen dream. He also kick-started a common approach to data-based marketing and sales, including a leading-edge ROI platform.

In this period Heineken® was the most-awarded alcohol brand at Cannes Lions 2023, premium beer grew 15% and we launched eazle - our global eB2B platform growing from €2 billion to €10 billion gross merchandise value.  James has given special focus to talent development and particularly building more diverse and inclusive Sales and Marketing teams. 

Before joining HEINEKEN, James held several senior international leadership roles. At Avon, he was part of the leadership team charged with driving its purpose, commercial, marketing, digital and cultural transformation, including its new campaign “Watch Me Now” and leading global and local collaboration across over 50 markets.

During his time at Diageo, he worked globally and on three continents, including in North America as Chief Marketing and Innovation Officer, in Asia Pacific as Chief Marketing and Innovation Officer, and as Managing Director, Global Reserve. Prior to Diageo, James spent 10 years at Unilever in various marketing positions.

Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “During his time at HEINEKEN, James has brought a strong consumer-centric, creative mindset and expertise from a nearly forty-year commercial career to our business. His focus has been on putting in place strong foundations for us to achieve our dream - to shape the future of beer and beyond to win the hearts of consumers. I would like to express my gratitude to James for his many meaningful contributions to HEINEKEN. I look forward to continuing working with him until the end of the year and then wish him all the best for the future.”

Bram Westenbrink
Bram Westenbrink has been with HEINEKEN since 2003 and has been Senior Director Global Heineken® and Amstel Brands since July 2020. Heineken® is a 55 million hectolitre brand and #1 global beer brand by value. Under his leadership the Heineken® brand has grown 32%, with more than 50 markets growing double-digit in 2022. Heineken® 0.0 is now launched in more than 110 markets and Heineken® Silver more than doubled its volume in 2022 and will be rolled-out to 42 markets across Asia, Europe, and the Americas regions by the end of the year. Heineken® was recognised with 20 Cannes Lions awards this year and extended its sponsorship of Formula 1 until 2027. At the same time there has been real velocity behind the Amstel brand which also grew volume double-digit in more than 15 markets. 

Between 2017 and 2020, Bram was Senior Marketing Director of HEINEKEN Brazil. He played an important role in the integration of the Kirin Brazil business and the success of the new company. He developed a winning portfolio strategy, and built a high-performing marketing team, working hand in hand with Sales to successfully execute the new commercial strategy. Together with his team, he dramatically grew premium and accelerated Heineken®, making Brazil the No.1 Heineken® brand market delivering strong profit growth for the business.

After joining the HEINEKEN Netherlands business as a trainee, he took his next assignment in Singapore as a business analyst, before returning to the Netherlands taking on a number of increasingly senior brand marketing roles. He then moved into a senior sales role as Regional Director for On-trade and Wholesale, where he restructured the business by creating regional teams organised around customers resulting in significant improved performance. 

He was appointed as Marketing Director of HEINEKEN Hungary in 2010 and subsequently returned to HEINEKEN Netherlands as Marketing Director in 2013. Under his leadership he brought the main lager brands Heineken®, Amstel and Brand back to growth and significantly accelerated the innovation agenda.

Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “Bram is one of our most experienced home-grown Commercial Leaders, with strong business acumen and international experience across developed and developing markets. I am confident that with his excellent track record in delivering results through outstanding consumer centric marketing & innovation, data-driven commercial execution and demonstrated ability in building and mobilising high performing teams he will accelerate the commercial implementation of our EverGreen strategy and deliver superior balanced growth. He will be a great addition to our Executive Team.”

Stacey Tank
Stacey re-joined the business and joined HEINEKEN's Executive Team in June 2020. Over the last three years Stacey has revitalised and restructured the global Corporate Affairs Function. She played a pivotal role in the development of our EverGreen strategy and established the new Global Transformation Network to drive engagement, change management, deployment and delivery of our strategy and our key strategic projects. Stacey showed great personal leadership and commitment in the development, launch and deployment of our very ambitious Brewing a Better World strategy including targets towards net zero in 2030. This work has set the business on the right course on environmental and social sustainability for the years to come.

Stacey has over two decades of experience in global businesses in senior management roles. She first joined the HEINEKEN in 2012, where she ran the Corporate Relations function at HEINEKEN USA until 2015. She then moved to The Home Depot, the world’s largest home improvement retailer, as Chief Communications Officer and the President of The Home Depot Foundation. From 2018 to 2020, she led their Installation Services and Measurement Services businesses, being responsible for several billion dollars in annual sales and over 5,000 employees. In 2020 she returned to HEINEKEN in her current role and moved to the Netherlands.

Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “It is with mixed feelings that I say farewell to Stacey. It is the second time we have worked together, and she has made a huge impact on our business. At the same time, I fully support her wish to return to the USA with her family. Stacey has been a valuable part of our Executive Team, bringing broad business perspectives, strong judgement, and clear values. She can be very proud of the ambitious sustainability agenda that she has led and the establishment of the Transformation Network to drive our EverGreen strategy. I would like to express my gratitude to Stacey and wish her all the best for the future.”

Joanna Price
Joanna is a senior business leader with more than 20 years of global experience working with companies to improve their reputation and drive growth. She has a track record in transformational change, deep professional experience in external and internal communications, sustainable development, and government affairs. She has demonstrated strong cultural agility operating across developed and developing markets. Her career has taken her to Australia, Hong Kong, China, and the USA in local, regional and global corporate affairs roles with increasing scope and complexity.

She joins HEINEKEN from The Coca-Cola Company where she was the North American Senior Vice President for Public Affairs, Communications and Sustainability, based in Atlanta, Georgia. An Australian citizen, Joanna started her career in marketing in News Corp Australia followed by AC Nielsen. She joined Kellogg’s in 1998 and was promoted to Director of Nutrition and Consumer Insight.

Joanna’s 20-year career in Corporate Affairs with Coca-Cola began in 2003 in Australia, where she was quickly moved into more senior roles, before being promoted to Group Director, Asia Pacific Public Affairs and Communications in 2011, based in Shanghai. Three years later she moved to the headquarters in the USA, where she became Global VP Communications. Joanna has a sincere passion and drive for the sustainability agenda and during her tenure at Coca-Cola, she has played a pivotal role driving change and transformation across some of their most important strategic pillars, including the total beverage/reduced sugar strategy and World Without Waste.

Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “I am very pleased to welcome Joanna to HEINEKEN. She has an excellent track record in Corporate Affairs operating across different countries and regions, building and leading high performing teams. Joanna has managed complex communications landscapes in China and the USA and played a leading role in responding to high profile media and political issues. Her business acumen, strong transformation track record and outstanding corporate affairs experience will be a valuable addition to our business and the Executive Team.”

At this time, HEINEKEN will also split the Corporate Affairs Function and the Transformation Network. Jasper Hamaker, Senior Director Global Transformation, will now report directly to Dolf van den Brink.

Mrs. Beatriz Pardo, a Spanish national, is Vice President General Manager of Starbucks Reserve in the United States at the Starbucks Coffee Company. She joined Starbucks in 2018 from Grupo Vips where she was Division CEO. Prior to this, Mrs. Pardo held executive positions in Carrefour, Canelafoods and Monitor Deloitte. During her international career, she built up extensive experience in brand strategy, retail concept innovation and operations. She graduated in Economics and Business Administration from the Universidad Pontificia de Comillas of Madrid.

Mr. Lodewijk Hijmans van den Bergh, a Dutch national, currently serves as chairman of the Supervisory Board of BE Semiconductor Industries (until its AGM in April 2023). He is also a member of the Supervisory Board of ING and vice-chairman of the Supervisory Board of HAL Holding. He is  a lawyer and was partner at the law firm De Brauw Blackstone Westbroek. He was also Chief Corporate Governance Counsel and member of the Executive Board of Royal Ahold. He has vast expertise in corporate governance, corporate law and sustainability. He holds a master’s degree in law from Utrecht University.  

Furthermore, non-binding nominations for the reappointment of Mr. Michel de Carvalho and Mrs. Rosemary Ripley for a period of four years shall be submitted to the AGM on 20 April 2023 for approval. Mrs. Ingrid–Helen Arnold’s term at the Supervisory Board will end at the AGM. The Supervisory Board is grateful for Mrs. Arnold’s commitment and contributions to the Supervisory Board and its Audit Committee over the past years.

HEINEKEN today announced that after a successful tenure as Chief Financial Officer and member of the Executive Board, Laurence Debroux and the Supervisory Board have jointly agreed that she will step down after the company’s Annual General Meeting of Shareholders (AGM) on 22 April 2021. The Supervisory Board will nominate Harold van den Broek, currently President Hygiene at RB (Reckitt Benckiser), to be appointed as member of the Executive Board and Chief Financial Officer at the company’s AGM, for a period of four years.

Harold van den Broek has been with RB since 2014 where he was CFO Hygiene before assuming his current role. Harold spent over 30 years in fast moving consumer goods companies in a broad range of finance roles across business units, regions and global functions. He began his career at Unilever in 1991, living and working in Europe, across Asia and in Russia. Subject to shareholder appointment, he will join HEINEKEN on 1 June 2021 and both Laurence and Harold will work together to ensure a smooth transition.

As per the Agreement, expected to become effective mid-2021, the parties will begin a smooth transition of the Heineken® and Amstel brands to HEINEKEN Brazil’s distribution network. The Coca-Cola System in Brazil will continue to offer Kaiser, Bavaria and Sol, and will complement this portfolio with premium brand Eisenbahn and other international brands. The Agreement allows the parties to better serve consumers and customers in the Brazilian market with a solid portfolio, building on the positive momentum developed over many years of successful collaboration.

Additionally, as part of the redesign of the distribution partnership, the parties will have more flexibility. Subject to certain mutually-agreed upon terms established in the Agreement, the Coca-Cola System in Brazil will be able to produce and distribute alcoholic beverages and other beers in a certain proportion to HEINEKEN’s portfolio and HEINEKEN will be able to explore further opportunities in the non-alcoholic segment. This will allow Brazilian consumers to benefit from a wider array of options.

The parties have agreed to an initial term until December 31, 2026 with automatic renewal for another 5-year term subject to the terms of the Agreement. The Agreement is subject to customary regulatory approvals. As part of the Agreement, the parties have agreed to end the existing litigation between them relating to the previous distribution agreements.

2020 was an unprecedented year in which we continued to advance against all our sustainable development ambitions, with people's health and safety at the heart of our response to the pandemic. 2020 also marked an inflexion point as we concluded our decade-long Brewing a Better World commitments and paved the way for our next phase of sustainability and responsibility ambitions.

Key highlights from our Annual Report 2020 include:

• Q&A with Dolf van den Brink, Chairman of the Executive Board and CEO, on our strategic review, EverGreen, navigating the crisis while building the future.
• Our response to COVID-19, people’s health and safety being the highest priority, our support for customers, suppliers and the communities most impacted by the pandemic.
• 2020 detailed business review and financial statements.
• Insights about the Heineken® brand, low- and no-alcohol drinks, international brands, cider and hard seltzer category, adapting to evolving consumer trends and digital opportunities to become the best connected brewer.

A detailed update and achievements on Brewing a Better World:

• Reduced our carbon emissions in our breweries with 51%¹ since 2008. In 2020, we reached 22% renewable energy usage in our production facilities, through wind, solar power, sustainable biomass projects and efficiency improvements.
• Formalised our commitment with the Science Based Target Initiative to reduce Scope 1, 2 and 3 Greenhouse Gas emissions by 35% per hectolitre of beverage sold by 2030 (baseline 2018) in line with UN Paris Agreement in 2015.
• Reduced average carbon emissions from our fridges to over 55% vs 2010.
• Achieved a 33%¹ decrease in water consumption in our breweries since 2008.
• Sourced 58% of our raw agricultural materials sustainably, exceeding our 2020 target.
• Reduced our accident frequency with 58% compared to 2015.
• Continued making moderate consumption cool by targeting an investment of 10% of Heineken® media spend to support responsible consumption campaigns. Given the exceptional circumstances in 2020, we redirected part of our 10% Heineken® media investments from ‘responsible consumption’ to #SocialiseResponsibly campaigns, reminding consumers to embrace social distancing and other safety measures.

In 2021, we will continue to raise the bar on responsible consumption, environmental and social sustainability and will announce a new 2030 ambition for Brewing a Better World.

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Nitin Paranjpe, an Indian national, has been Chief Operating Officer of Unilever since 1 May 2019 and a member of the Unilever Leadership Executive since October 2013. Prior to becoming COO, he led Unilever’s global Food and Refreshment as well as its global Homecare division. He joined Unilever at Hindustan Lever Limited (India) in 1987 where he held various roles in marketing and sales. Over the years, he has worked in Europe and Asia and has gained extensive experience, amongst others, by delivering strategic transformation and growth initiatives, accelerating digital capabilities through new data-driven tools, and acquisitions of strategic purpose-led businesses that reshaped Unilever's portfolio.

The Supervisory Board of Heineken N.V. has found a strong successor in Nitin Paranjpe for Christophe Navarre, current member of the Supervisory Board, who will reach his maximum tenure upon conclusion of the AGM in 2021. The Supervisory Board is grateful for Christophe Navarre’s commitment and meaningful contribution to the Supervisory Board and its Americas Committee over the past twelve years.

Following a highly successful career at HEINEKEN spanning 27 years including five years as Chief Commercial Officer and almost nine years as an Executive Team member, Jan Derck van Karnebeek has decided to leave HEINEKEN to pursue other interests outside of the company as of 1 March 2021.

Jan Derck van Karnebeek will be succeeded in the Executive Team by James Thompson in early 2021. James is currently Head of Categories, Brand, Innovation and Stores at Avon. He has extensive experience in the beverages sector from his prior 24-year career at Diageo PLC.

James Thompson, a British national, has previously held a number of senior international leadership roles. At Avon, he was part of the leadership team charged with driving its purpose, commercial, marketing, digital and cultural transformation, including its new campaign “Watch Me Now” and leading global and local collaboration across over 50 markets. During his time at Diageo PLC he worked globally and on three continents including in North America as Chief Marketing and Innovation Officer, in Asia Pacific as Chief Marketing and Innovation Officer, and as Managing Director, Global Reserve. Prior to Diageo PLC, James spent 10 years at Unilever PLC in various marketing positions.

Under the leadership of Jan Derck van Karnebeek, HEINEKEN’s Commerce teams have thrived across regions with iconic brands and marketing campaigns. Over the past years, the company’s organic revenue growth has accelerated. The Heineken® brand has shown the best performance in decades and it continues to perform very well across all continents. HEINEKEN has progressed strongly on the digital technology opportunity, both in brand marketing and in digitalising our sales channels. With the innovation success of Heineken® 0.0 and many other of HEINEKEN’s international brands, the company is well positioned for future growth.

Chris Van Steenbergen will retire as Chief Human Resources Officer and Executive Team Member on 1 January 2021, following a distinguished career at HEINEKEN and other companies. He joined HEINEKEN in 2014 from Royal DSM and prior to that worked for close to 20 years for Cadbury Schweppes in various leadership positions.

Chris will be succeeded in the Executive Team as of 1 January 2021 by Yolanda Talamo as Chief People Officer. Yolanda is currently Senior Vice President Human Resources at HEINEKEN Americas.

Yolanda Talamo, a Venezuelan national, joined HEINEKEN in 2016 and has held a number of senior management Human Resources positions throughout her career. Prior to her current role as Senior Vice President Human Resources at HEINEKEN Americas, Yolanda was Senior Vice President Human Resources Latin America for SAB Miller, Chief Human Resources Officer at Cisneros and she held a variety of Human Resources roles during her 18 years at Procter & Gamble.

Chris Van Steenbergen has been critical in progressing HEINEKEN’s human resources agenda for the company and retaining the distinct HEINEKEN culture worldwide. He has successfully introduced standardised people processes based on a one system platform. Chris and his team have established the foundation of HEINEKEN’s Inclusion and Diversity strategy and he has been instrumental in attracting and developing a number of senior leaders.

Heineken N.V. (HEINEKEN) today announced it is entering the Peruvian beer market through the acquisition of local beer brand Tres Cruces and the incorporation of its local operating team in Lima. HEINEKEN aims to build a diverse portfolio in Peru consisting of local beer brands, complemented with its range of leading international brands.

To support its strategy in Peru, HEINEKEN is entering into a strategic partnership with Peruvian beverage player AJE Group (AJE). AJE is a leader in numerous non-alcoholic beverages, with a strong route-to-market and distribution network across Peru. AJE will be our local sales and distribution partner in the highly relevant traditional channel in the country.

Peru is one of the largest beer markets in South America with around 14 million hectolitres of annual beer sales of which about 40% are sold in Lima alone. It is the largest market in the region where HEINEKEN did not yet have operations. The premium beer segment is significantly underdeveloped, representing less than 4% of the total market. Peru has a population of 32 million and has solid macroeconomic fundamentals, attractive development of consumer demographics and a stable local currency.

As in other markets where HEINEKEN operates, the company will ensure in Peru that employees working in its local operations follow strict hygiene and social distancing guidelines and will receive support to do their jobs safely. HEINEKEN will also work closely with its suppliers and customers and listen to their concerns about the impact of COVID-19 on their businesses.

Financial terms are not disclosed.

We are pleased to announce that as of today, 1 June 2020, Dolf van den Brink has taken over the baton from Jean-François van Boxmeer as our new CEO and Chairman of the Executive Board of HEINEKEN N.V. Following an impressive 22-years career at HEINEKEN working on all continents, Dolf van den Brink will build on Jean-François van Boxmeer’s legacy.

Heineken N.V. (HEINEKEN) today announces the appointment of Stacey Tank as Chief Corporate Affairs and Transformation Officer as of 1 June 2020. Ms. Tank will join HEINEKEN's Executive Team, reporting to Dolf van den Brink, HEINEKEN’s CEO designate and from 1 June 2020 CEO and Chairman of the Executive Board.

Stacey Tank returns to HEINEKEN, as she ran the Corporate Relations function at HEINEKEN USA until 2015. She amplified the company’s sustainability development and performance, and boosted the company’s reputation among internal and external audiences. A US national, Stacey has over two decades of experience in global businesses in senior management roles. This includes close to ten years at General Electric in a variety of international audit, finance, and communications roles. During her GE years, she lived and worked also in Europe, Mexico and Brazil.

In 2015, Stacey Tank joined The Home Depot, the world’s largest home improvement retailer, as Chief Communications Officer. Since 2018, Ms. Tank leads their Installation Services and Measurement Services businesses, being responsible for several billion dollars in annual sales and over 5,000 employees. She returned the businesses to double-digit growth while instilling a strong values-based culture and robust innovation pipeline. Ms. Tank is dedicated to the intersection of business and positive impact on society and she has repeatedly authored large-scale movements across enterprises.

Dolf van den Brink, CEO designate and from June 1 2020 CEO and Chairman of the Executive Board, commented: “I am very pleased to welcome Stacey back to HEINEKEN. She has an excellent track record in leading high performing teams across businesses and functions. Her business acumen and business success, knowledge of HEINEKEN, and outstanding corporate affairs and senior leadership experience will be a valuable addition to our Executive Team. I much look forward working with her again. I would like to express my gratitude to Blanca Juti and wish her all the best for the future.”

Stacey Tank’s new role entails the areas of Public Affairs, Sustainable Development and Global Communications. In addition, in the company transformation component of her role, Ms. Tank will support the orchestration of key change and transformation initiatives of HEINEKEN’s strategic agenda.

The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange.

The proceeds from the Notes issuance will be used for general corporate purposes. The maturity dates of the Notes are 7 May 2033 and 7 May 2040.

Barclays, Citi, ING, JP Morgan, and Santander acted as active book runners, ABN Amro and Rabobank as passive book runners, and ANZ, BBVA, CIC and Raiffeisen Bank International as co-managers.

Heineken N.V. today announces that Blanca Juti, Chief Corporate Affairs Officer has decided to leave HEINEKEN on 1 June 2020, to pursue interests outside the company. Her successor will be announced in due course.

The AGM approved the appointment of Dolf van den Brink as member of the Executive Board of HEINEKEN for a period of four years. Dolf van den Brink will become Chairman of the Executive Board and CEO of HEINEKEN on 1 June 2020.

This has been the last AGM for Jean-François van Boxmeer. He will step down as Chairman of the Executive Board and CEO of HEINEKEN. Ensuring a smooth and effective transition, Jean-François van Boxmeer will hand over his responsibilities to Dolf van den Brink on 1 June 2020.

Dividend

The AGM approved the dividend proposal for the year 2019 of EUR 1.68 per share. As an interim dividend of EUR 0.64 was paid on 8 August 2019, the final dividend will be EUR 1.04 per share. The final dividend will be made payable on 7 May 2020. Heineken N.V. shares will be quoted ex-dividend on 27 April 2020.

Remuneration policy Executive Board and Supervisory Board

The AGM resolved to adjust the remuneration policy for the Executive Board and adopt a remuneration policy for the Supervisory Board In accordance with the implementation of the European Shareholders Rights Directive into Dutch law.

Re-appointment of Supervisory Board Member

The AGM re-appointed Pamela Mars Wright as member of the Supervisory Board for a four-year term.

Re-appointment of External Auditor

The AGM re-appointed Deloitte Accountants B.V. as external auditor for the financial year 2021.

Amendments Articles of Association

The AGM adopted amendments to the articles of association to align with current statutory Dutch law and make textual improvements.

The voting results per agenda item of the AGM of Heineken N.V. of 23 April 2020 can be found on the HEINEKEN website: www.theHEINEKENcompany.com/investors/governance/agm.

HEINEKEN announced today the measures it has been taking since the beginning of the Covid-19 outbreak to support the health and livelihood of employees and communities in which it operates, and announces it is donating to the Red Cross to support the most vulnerable.

“Our thoughts are with all those affected by Covid-19 and the people working tirelessly to care for them. In this unprecedented situation, at HEINEKEN we have been following from the start of the outbreak three guiding principles: First, the health, safety and trust of our people is of paramount importance. Second, we do everything we can to safeguard the continuity of our business and appeal of our brands, which includes supporting the business continuity of our customers and suppliers. And, third, through our local initiatives, we offer our support to the communities who are most impacted by the pandemic”, commented Jean-François van Boxmeer, Chairman of the Executive Board and CEO.

In view of those principles, HEINEKEN has made the following commitments:

• For its people: to support the health and safety of its employees, the company is ensuring that those employees, who work in production and distribution, follow strict hygiene and social distancing guidelines and receive support to do their jobs safely. Furthermore, to provide security to its employees, HEINEKEN commits until the end of 2020, it will not carry out structural layoffs, as a consequence of Covid-19.
• For its customers: HEINEKEN is scaling up initiatives in support of on-trade customers across markets in all regions.
• For its suppliers: HEINEKEN is committed to paying suppliers at agreed payment terms and will support its most vulnerable small and medium sized suppliers through early payments.
• For its communities: HEINEKEN is deploying multiple local initiatives across its global operations in support of those who are at the front line of the Covid-19 fight. These include the donation of water and non-alcoholic beverages, the production of hand sanitisers and monetary contributions to front line medical facilities.

HEINEKEN further recognises that the humanitarian community is in need of additional support. Responding to the March 26 international appeal, HEINEKEN is donating €15 million to support the International Federation of Red Cross and Red Crescent Societies (IFRC) relief efforts for the most vulnerable people affected by Covid-19, in particular in Africa, Asia and Latin America.

Jean-François van Boxmeer, Chairman of the Executive Board and CEO, commented: “For over 100 years the Red Cross has worked tirelessly to save lives around the world. Now more than ever, we want to offer them our support in the work they do to help the most vulnerable beat Covid-19.”

Heineken N.V. today announces the appointments of Soren Hagh as President of the Europe region and Jacco van der Linden as President of the Asia Pacific region, both per 1 June 2020. Soren Hagh and Jacco van der Linden will join the HEINEKEN Executive Team per that same date.

Soren Hagh will succeed Stefan Orlowski who is currently Regional President for Europe, and whose decision to leave the company was announced on February 11, 2020. Soren Hagh is at present Managing Director of HEINEKEN Italy and previously was HEINEKEN’s Executive Director Global Marketing. He joined HEINEKEN in 2013 and prior to that, he held a number of senior management positions at Lego, Diageo and L’Oréal, including General Manager EMEA for Lancôme. Soren Hagh will work closely with his successor to help HEINEKEN Italy through the COVID-19 crisis.

Jacco van der Linden will succeed Dolf van den Brink, who is currently Regional President for Asia Pacific. As announced on 11 February 2020, Dolf van den Brink is nominated to be appointed as member of the Executive Board at the upcoming company’s Annual General Meeting of Shareholders and to succeed Jean-François van Boxmeer as Chairman of the Executive Board and CEO on 1 June 2020.

Jacco van der Linden is currently Managing Director of HEINEKEN Vietnam and previously was Managing Director of HEINEKEN China. He joined HEINEKEN in 1999 and has held a number of senior international leadership roles in Commerce, in the UK, Nigeria, the Netherlands and Ireland.

Jean-François van Boxmeer, Chairman of the Executive Board and CEO, commented: "Obviously, the key focus for us is on running the company through the current unprecedented COVID-19 crisis. With our first priority the health and well-being of our people. At the same time, we are preparing for the future with these appointments. I am very pleased with Dolf’s choice of Soren Hagh leading our Europe region, and Jacco van der Linden leading our Asia Pacific region, per 1 June 2020. I want to express again my gratitude to Stefan Orlowski for his 22 years of great service to our company. He will leave HEINEKEN with our genuine thanks and best wishes for the future. Soren and Jacco have an outstanding track record delivering strong business results, and they both have great leadership, people and commercial skills. We are confident that Soren and Jacco will be very valuable in our Executive Team, and in leading the business and respective teams in their regions."

Alexander Koch, currently Commercial Director of HEINEKEN Vietnam, will succeed Jacco van der Linden as Managing Director HEINEKEN Vietnam per 1 June 2020. Prior to Koch’s current position, he was Managing Director HEINEKEN Ivory Coast. Alexander Koch joined HEINEKEN as a Commercial Management Trainee in 1997.

Wietse Mutters, until recently Managing Director of BRANA S.A., HEINEKEN’s operating company in Haiti, will succeed Soren Hagh as Managing Director of HEINEKEN Italy as of May 1 2020. Prior to Mutters’ position in Haiti he worked for HEINEKEN in Macedonia, Nigeria, the Netherlands and DRC. Wietse Mutters joined HEINEKEN in 2008, as Project Manager at Brasseries de Bourbon, Reunion Island.

The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange.

The proceeds from the Notes issuance will be used for general corporate purposes. The maturity dates of the Notes are 30 March 2025 and 30 March 2030.

Banca IMI, BNP Paribas, Credit Suisse, Deutsche Bank and HSBC acted as book runners.

On 18 March 2020, Heineken N.V. also successfully placed CHF 100 million of 5-year Notes with a coupon of 0.6375% privately.

Heineken N.V. today announces the appointment of a new Chief Supply Chain Officer and the company’s first Chief Digital and Technology Officer. 

Following a distinguished and highly successful career at HEINEKEN, spanning 25 years of which 15 years as Chief Supply Chain Officer and Executive Team member, Marc Gross will retire as Chief Supply Chain Officer in April 2020. He will per that date be succeeded in the Executive Team by Magne Setnes, currently General Manager of Brau Union AG, HEINEKEN’s business in Austria. Magne Setnes joined HEINEKEN in 2000 and has held a number of senior international leadership roles across Supply Chain, Commerce and General Management in The Netherlands, United States, and Austria. 

Ronald den Elzen will join the Executive Team as HEINEKEN’s first Chief Digital and Technology Officer. The world is changing fast, with tremendous opportunities for the beer industry and HEINEKEN. Consumers, customers and employees expect a seamless digital experience when they interact with all brands and the company. In 2019, ‘Connect in a digital world’ was launched as the fifth business priority. The appointment of our first Chief Digital and Technology Officer underpins the ambition to become the world’s most connected brewer.

Having joined HEINEKEN 25 years ago, Ronald den Elzen most recently served as Managing Director of HEINEKEN USA. Previous roles have included Finance Director in The Netherlands and HEINEKEN UK as well as Managing Director of Sociedade Central de Cervejas, the Company’s Portuguese business. Ronald’s appointment is effective immediately. 

Jean-François van Boxmeer, Chairman of the Executive Board / CEO, commented: “I would like to thank Marc Gross for his enormous contribution to HEINEKEN. Marc has been critical for managing the growth of this company. While during the last 15 years our volumes, number of breweries and number of brands grew significantly, he has made the complexity of our global supply chain feel easy. Today thanks to Marc and his global teams across our regions, we have a very high performing supply chain organisation. I am delighted by the appointments of Magne Setnes and Ronald den Elzen. They are two highly experienced and versatile HEINEKEN executives who have a lot to bring to our company. Our Executive Team very much looks forward to working with them.” 

A successor for Magne Setnes in Austria will be announced in due course.

HEINEKEN Spain has signed a long-term power purchase agreement (PPA) with energy supplier Iberdrola, guaranteeing the supply of 100% renewable electricity to all four HEINEKEN Spain breweries as well as its offices by October 2020. This is a major milestone in the ambition to operate 100% carbon neutral by 2023. 

The agreement by the two companies involves the construction of a new solar photovoltaic plant in Andévalo, which will be dedicated specifically for HEINEKEN use, and fully operational in 2020. The plant will guarantee the supply of green electricity to all four HEINEKEN Spain breweries as well as its offices - the equivalent of over 100,000 tonnes of CO2 a year, or the annual emissions produced by nearly 25,000 homes. In addition to its environmental impact, the new solar installation will create an estimated 200 additional jobs in the local community. 

Guillaume Duverdier, Managing Director, HEINEKEN Spain, said; “Thanks to the Andévalo plant, all our drinks will be brewed using electricity created directly from the sun. This initiative reaffirms HEINEKEN Spain’s commitment to sustainability, as well as our industry leadership position in the drive to towards renewable energy usage in Spain. After covering all our breweries’ electrical requirements, we will be replacing our existing gas boilers with ones that use biomass in order to be able to brew beer using only renewable energy by 2023.”

The new initiative in Spain forms part of HEINEKEN International’s global sustainability strategy – “Brewing a Better World”. Part of this strategy is the ‘Drop the C’ carbon reduction program, where the company aims to grow its share of renewable thermal energy and electricity in production globally to at least 70% by 2030. HEINEKEN wants to drive a real change towards renewable energy across all regions where it operates. 29 renewable energy projects are currently underway around the world, focussing on harnessing the power of wind and solar energy, biomass or biogas. In addition to these, completed projects that are already operational include; carbon neutral operating breweries in Göss and Schladming (Austria), on-site biomass installations in Sampang Agung (Indonesia), on-site solar installation in Kudenda (Nigera), four off-site PPAs to power multiple breweries and shops in Mexico.

“Ángeles Santamaria, CEO of Iberdrola España, said; “PPAs will set the standard for the world's energy future. Renewables have proven their competitive advantage and ability to supply power at affordable, stable prices.” 

Located in the municipality of Puebla de Guzmán (Huelva) in the south of Spain the new plant will have a surface area of 150 hectares, the equivalent of 210 football fields. The project will have an installed capacity of 50MW and will generate 82 GWh/yr. This is enough to power over 15,000 residential homes annually. It will be built inside the biggest in-land wind farm in continental Europe, El Andévalo (292 MW), developed and managed by Iberdrola since 2010.

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Heineken N.V. today announces that after 22 years with HEINEKEN, Stefan Orlowski, currently President Europe, has decided to leave HEINEKEN to pursue his private entrepreneurial interests outside the company.

Jean-François van Boxmeer, Chairman of the Executive Board and CEO of HEINEKEN, commented: “Leaving HEINEKEN has been a very personal decision for Stefan. He played a major role in the company, and he has been a member of my leadership team for a long time. I want to praise Stefan’s 22 years of service, during which he built an impressive track record of success in a variety of leadership roles. As President Europe, he contributed strongly to the HEINEKEN performance through his clear strategy focused on premium and innovation combined with continuous capability building, cost management and efficiency. He leaves HEINEKEN with our genuine great thanks and best wishes for the future.”

Joining HEINEKEN in 1998 as Sales, Marketing and Distribution Director for Zywiec in Poland, Stefan Orlowski then became Chief Operating Officer of Brau Union from 2003 until 2005. In 2005, he was appointed Managing Director of HEINEKEN Central and Eastern Europe. In 2007, Stefan became Group Commerce Director HEINEKEN. Between 2009 and 2013, he was Managing Director HEINEKEN UK where he achieved an impressive turnaround of the business. In 2013 Stefan Orlowski was appointed President Americas and member of the Executive Team. In 2015, Stefan took on his current role of President Europe.

Stefan Orlowski will leave before the summer, and his successor will be announced in due course.

ENDS

Press enquiries Tim van der Zanden / Michael FuchsE-mail: pressoffice@heineken.com Tel: +31-20-5239-355  Investor and analyst enquiriesFederico Castillo Martinez/ Janine Ackermann / Robin AchtenE-mail: investors@heineken.comTel: +31-20-5239-590

Notes to editors:Stefan Orlowski – Resumé1966, Australian nationalityWork Experience2015 Regional President Europe Region & Global Executive Team member in theNetherlands2013 President Americas Region, & Global Executive Team member, in the United States2009 Managing Director, Scottish & Newcastle Ltd., United Kingdom2007 Group Commerce Director, Heineken NV, the Netherlands2005 MD Central & Eastern Europe, Austria2003 COO Brau Union, Austria1998 VP Sales, Marketing, Distribution Zywiec Group SA, Poland1995 GM & President of the MB, Warka Breweries Poland1992 Legal & Administration Director Elbrewery, Poland1998 Barristor & Solicitor of the Supreme Court of Victoria, AustraliaBoard Positions2015 Zywiec Group SA, Chairman Supervisory Board, Poland2015 Paulaner Group GmbH, Member of the Shareholder Committee, Germany2015 Brewers of Europe VP, Board of Management, Belgium2015 AIM, Board member, Poland2016 – 2018 Leaseplan Supervisory Board Member, Chairman, Risk Committee, the Netherlands

About HEINEKENHEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. HEINEKEN is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. It employs over 85,000 employees and operates breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.

Jean-François van Boxmeer joined HEINEKEN as a management trainee in 1984. After a number of international management positions, he was appointed member of the Executive Board in 2001. In 2005, Mr. Van Boxmeer was appointed Chairman of the Executive Board and CEO of Heineken N.V.

Jean-Marc Huët, Chairman of the Supervisory Board, commented: “The Supervisory Board is grateful for the extraordinary contribution of Jean-François van Boxmeer in bringing HEINEKEN to where it is today. Under his stewardship, the company more than doubled in size due to both strong organic growth and transformational deals that turned HEINEKEN into the most global brewer, with iconic brands enjoyed by consumers on all continents. Not only did he deliver superior top-line growth and an excellent business performance, he also developed and nurtured a diverse and great talent pool across the world. He will leave behind a company excellently positioned to grow further. For all this, we owe Jean-François a heartfelt and huge thank you.”

Jean-François van Boxmeer commented: “It has been a great privilege and honour to lead HEINEKEN and to work with so many great people from all over the world over the past three decades. I feel now is the right moment to hand over leadership to the next generation. I am proud of what we have achieved together and I would like to thank the Supervisory Board, my fellow Executive Board member Laurence Debroux and the Executive Team for their support and confidence. I would also like to thank all our employees, who make our business great every day.

It is my absolute pleasure to be handing the helm to Dolf. His ability to lead teams, grow our brands and business, in a responsible way, is nothing short of impressive. I am certain that under his leadership the company is in the best of hands to continue to grow. I look forward to work with Dolf in delivering a smooth transition.”

Dolf van den Brink is a proven strong business leader. Throughout his 22 year career at HEINEKEN he has successfully built high performing teams in both developed and developing markets. He is currently a highly valued member of the Executive Team and successfully leads the Asia Pacific region as President. His successor will be announced in due course.

Jean-Marc Huët, Chairman of the Supervisory Board, commented: “The Supervisory Board conducted a thorough succession process and is very happy to unanimously nominate Dolf van den Brink as the new Chairman of the Executive Board and CEO of Heineken N.V. He has proven to be an outstanding leader and member of the Executive Team, winning in our markets, building great teams and growing our brands. Coupled with his leadership experience in all four continents, Dolf van den Brink is the right CEO for the company in the next phase of growth and development, building on Jean-François van Boxmeer’s great legacy.”

Mrs. Charlene de Carvalho-Heineken noted: “My family and I are deeply grateful to Jean-François for all he has brought to HEINEKEN during his entire career in the company but particularly for his impressive 15 year leadership as CEO. Under his leadership, HEINEKEN has not only delivered impressive growth and shareholder value, but he also preserved and nurtured the heritage and identity of HEINEKEN as a proud, independent and responsible global brewer during the most active era of consolidation that the brewing industry has undergone. During Jean-François’ almost 15 years as CEO, HEINEKEN has completed over 30 billion euros of acquisitions across the globe, to leave HEINEKEN today as the most global brewer.

We would also like to take this opportunity to express our support for the nomination of Dolf van den Brink. We are particularly proud of the open, transparent and fair process, which led to his nomination. My family and I are confident that his strong leadership and people skills, combined with his broad international experience, make him the ideal candidate to succeed Jean-François in the CEO role.”

Heineken Holding N.V., a separate entity which owns 50.005% in Heineken N.V., will propose to their Annual General Meeting of Shareholders on 23 April 2020 that upon leaving Heineken N.V., Jean-François van Boxmeer be appointed as a non-executive member of the Board of Directors on 1 June 2020.

ENDS

Press enquiries Tim van der Zanden / Michael FuchsE-mail: pressoffice@heineken.com Tel: +31-20-5239-355  Investor and analyst enquiriesFederico Castillo Martinez/ Janine Ackermann / Robin AchtenE-mail: investors@heineken.comTel: +31-20-5239-590

NOTES TO EDITORS

Jean-François van Boxmeer – Resumé

1961, Belgian nationality

Work Experience

2005 Chairman of the Executive Board and CEO Heineken N.V.

2001 Member of the Executive Board, responsible for supply chain and technical services, North-West Europe, Sub-Saharan Africa and Central and Eastern Europe

2000 General Manager HEINEKEN Italia

1999 Vice President and General Manager Grupa Zywiec in Poland

1996 President and General Manager Zywiec in Poland

1993 General Manager Bralima in the Democratic Republic Congo (DRC)

1990 Sales and Marketing Manager Bralima in the Democratic Republic Congo (DRC)

1987 Sales and Marketing Manager Bralirwa in Rwanda

1984 Trainee in production, sales and administration in the Netherlands

Independent Board Positions

Independent Director at Mondelez International (formerly Kraft Foods Inc.), USA

Member Shareholders Committee at Henkel AG, GermanyChairman Board of Directors of National Opera & Ballet, Netherlands

Dolf van den Brink – Resumé

1973, Dutch nationality

Work Experience

2018 Regional President APAC & Global Executive Team member in Singapore

2015 Managing Director Heineken in Mexico

2009 Managing Director Heineken in USA

2005 Commercial Director Bralima, in the Democratic Republic Congo (DRC)

2003 International Channel Development Manager, Heineken Global Commerce, in the Netherlands

1999 Senior Brand Manager Pepsi & 7UP, Trade Marketing Manager Food, Vrumona, in the Netherlands

1998-1999 Commercial Management Trainee, Heineken, in the Netherlands

Board Positions

Board Member China Resources Beer Holdings, Hong KongBoard and Audit Committee member, United Breweries Ltd, India

About HEINEKEN

HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. HEINEKEN is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. It employs over 85,000 employees and operates breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.

Market Abuse Regulation

This press release may contain price-sensitive information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Over the past few years, BIELA ECUADOR has established its place in the Ecuadorian beer market by re-launching the Biela® brand. The BIELA brewery is located in Guayaquil, Ecuador's largest city, and is fully operational using high-quality brewing and packaging equipment. In addition to Biela®, HEINEKEN intends to market its portfolio of premium and international brands, led by Heineken®, in Ecuador in the future. HEINEKEN also plans to brew Heineken® beer locally in due course.

Marc Busain, President Americas at HEINEKEN, said: "We are pleased to announce our investment in Ecuador. With its favourable demographics, flourishing tourism industry and GDP growth, it offers a lot of potential to grow our premium offering, led by the Heineken® brand. We are excited to grow our business in Ecuador in close collaboration with our new partners."

Luis Enrique Landinez, CEO of BIELA ECUADOR, speaking on behalf of the group of investors said: "We are very pleased to have completed this alliance with HEINEKEN, which is good news for Ecuador and its consumers, who will have a wider and better choice of beer products. The successful re-launch of the Biela® brand, its current recognition in the market, and the favourable investment environment generated by the Ecuadorian Government have successfully drawn HEINEKEN into Ecuador."

Ecuador is a very attractive market, with GDP projected to grow at a 5.7% rate (CAGR) in the next 10 years and encouraging social-economic fundamentals. The Ecuadorian beer market presents a promising opportunity for HEINEKEN, with a current size of 6 million hectolitres per year and a relatively low consumption per capita of 39 litres when compared to other South American countries. In addition, the Ecuadorian government is supportive of foreign investment and of introducing competition in the beer market.

Financial terms are not disclosed.

ENDS
Press enquiries
John-Paul Schuirink / Michael Fuchs
E-mail: pressoffice@heineken.com
Tel: +31-20-5239-355

Investor and analyst enquiries
Federico Castillo Martinez / Janine Ackermann / Aris Hernández
E-mail: investors@heineken.com
Tel: +31-20-5239-590

Editorial information

About HEINEKEN
HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. HEINEKEN is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. It employs over 85,000 employees and operates breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.

"The world needs to pay more attention to water," said Jean-François van Boxmeer, Chairman of the Executive Board/CEO of HEINEKEN. "Water is a precious, but unfortunately undervalued, resource. By 2025, two thirds of the global population could be living in water-stressed conditions^[1]. We need to do more to protect water so communities living in water-stressed areas can continue to thrive."

HEINEKEN is committed to water protection. Water is important to HEINEKEN as beer is 95% water and great beer requires high quality water. That is why over the past decade the company has lowered its water usage by almost a third from 5 hectolitres of water per hectolitre of beer, and has already surpassed its original 2020 target.

Under HEINEKEN's 'Every Drop' water ambition for 2030, the Dutch brewer commits:

• To fully balance within the local watershed, every litre of water used in our products in areas that are water stressed. The brewer also commits to work collaboratively with other users of the watershed so that its health is protected, which is essential for the communities around it to thrive.
• To maximise water circularity in water stressed areas through recovery, reuse and recycling and to treat 100% of our wastewater worldwide.
• To reduce water usage to an average of 2.8 hectolitres of water per hectolitre of beer (from 3.2 hl/hl) for breweries in water stressed areas and to 3.2 hectolitres of water per hectolitre of beer (from 3.5 hl/hl) on average for all breweries worldwide.

Going forward, the company feels that mostly focusing on lowering water usage will not be enough. To keep a watershed healthy and communities thriving, users of a watershed should focus more on replenishing the water they use. This can be done by investing more time and effort on activities like reforestation, landscape restoration, desalination and water capture and by working closely with other water users in the protection of this shared asset.

Today, of the 170 breweries the company operates around the world, 26 are in water-stressed areas. Over the last decade, the company has learned that protecting water resources requires a highly contextual approach to the specific watershed in question. That is why to fulfil this ambition, HEINEKEN is developing individual targets for each brewery in water-stressed areas and prioritising the most relevant actions for each local watershed.

To realise this vision, HEINEKEN has developed a water triangle which comprises the three key focus areas the company will undertake for each brewery in a water stressed area. These areas need to be considered holistically with the aim of having the highest impact on the health of the watershed and the communities around it.
While the company will continue to focus on lowering its usage of water by improving water efficiency in its operations, greater focus will be placed on water circularity (the reuse and recovery of water), and water replenishment and collaboration.

While there is much work ahead to fulfil its vision, HEINEKEN can build on experiences acquired in the last decade. Today HEINEKEN is already undertaking water-balancing programmes in several water stressed areas across the world. For instance in Spain, 1 billion litres of water are restored yearly through a wetland restoration program in Doñana, in southern Spain. In Malaysia, the company is investing in rainwater harvesting projects that will help communities save water. In Indonesia, HEINEKEN works with employees and communities to install 'biopori' holes: narrow, meter-deep pits dug into the soil and filled with vegetable scraps and compost material. By slowing rainwater runoff, biopori holes preserve water and prevent flooding.

Over the years, HEINEKEN has also learnt the importance of collaboration. As many users tap into shared resources, maintaining the health of a watershed also has to be a shared effort. In Mexico, through the Monterrey Water Fund, the company is working collaboratively with others in reforestation. Newly planted trees have absorbed more than 450 million litres of water; helping to mitigate flooding and improve water infiltration. In Indonesia, as a consequence of working alongside the United Nations Industrial Development Organisation (UNIDO), HEINEKEN is part of a water alliance ('Aliansi Air'), in which government, businesses, NGOs and local community groups work together on water conservation and pollution reduction in the Brantas river basin.

Today HEINEKEN already treats 96.5% of its wastewater worldwide, returning it clean to the environment. The company aims to go one step further by increasingly reusing treated wastewater in its own operations and sharing treated water with other users.

In addition, as most of HEINEKEN's water footprint comes from agriculture, it will initiate a number of pilot projects in areas which depend on irrigation in order to grow more barley with less water. The brewer will also be working with farmers to improve farming practices and test seed varieties that are more drought tolerant and disease resistant.

HEINEKEN has been a signatory of the UN CEO Water Mandate since 2009 and is an active member of the Beverage Industry and Environmental Roundtable.

ENDS

Press enquiries
David Pugh
E-mail: David.Pugh@Heineken.com
Tel: +31-20-5239-355

Editorial information
HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ over 85,000 employees and operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.

Hero videos can be viewed here.

HEINEKEN seeks to employ professionals with a thirst for knowledge and a spirit for adventure. With a curious mind and a broad skill set, these professionals embody the company's core values and culture and what sets it apart from its competitors.

Chris Van Steenbergen, Chief Human Resource Officer at HEINEKEN, commented: "At HEINEKEN we recognise that many professionals today want to experience different challenges, take advantage of various opportunities and experience multiple cultures. With the Go Places 2.0 campaign, HEINEKEN hopes to not only demonstrate the diversity of opportunity available to candidates, but also show the characteristics that drive the organisation forward and continue to make HEINEKEN a great place to work. By showcasing our culture and the desired behavioural characteristics, we hope to maintain HEINEKEN's position as an employer of choice across the world, and in particular within those markets key to the company's growth."

Go Places 2.0 is a continuation of HEINEKEN's Go Places campaign, launched in 2016, which focused on making the online application process personalised, compelling and interactive with the aim of attracting dynamic talent.

Go Places 2.0 showcases 22 HEINEKEN markets, and a variety of roles, levels and departments within the organisation including Marketing, Sales, Finance, Supply Chain, Procurement, Human Resources, IT and Corporate Affairs. The videos illustrate the type of talent HEINEKEN is looking to recruit, encouraging bold and brave ideas, giving the power to the employee to take their career into their own hands, and have the autonomy to do it.

HEINEKEN markets involved in Go Places 2.0 include: Mexico, Vietnam, Spain, Nigeria, South Africa, Singapore, Slovakia and the Netherlands. The employer brand campaign will roll-out globally from February 2019, with markets promoting it through a multichannel approach, including earned amplification, paid media partnerships, online and social media engagement, geo-targeting of job sites such as LinkedIn, and promotions at career fairs and events.

ENDS

EDITORIAL INFORMATION:

For more information, please contact:
Hannah Nottage
Hannah.Nottage@edelman.com

ABOUT HEINEKEN:

HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brewing a Better World", sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We employ over 80,000 employees and operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.