Sapporo Breweries (2501) investor relations material

Medium- to long-term growth strategy and investment areas

• Focus on enhancing corporate value through community bonds and healthier choice strategies, with overseas beer as a core pillar.

• Growth investments target next-generation beer drinkers, overseas expansion, RTD sector, innovation, and non-alcoholic beverages.

• Expansion into new value sectors and strengthening of sales, production, and digital capabilities are prioritized.

Global expansion and brand performance

• Sapporo Premium Beer (SPB) expanded to over 60 countries, with strong growth in Asia and Europe and sustained growth in North America.

• Global sales volume of SPB has doubled over 10 years, with APAC and Europe sales up 27% year-on-year.

• SPB holds a leading position in the Asian beer category in the US for 40 years and is a top imported beer in Canada.

Overview and structure of the Carlsberg partnership

• Strategic partnership with Carlsberg expands from Malaysia, Hong Kong, and Singapore to Laos, Vietnam, Cambodia, and the UK.

• Sapporo acquires a 25% stake in a new joint venture for USD 643 million, with Carlsberg holding 75%.

• The JV covers six Southeast Asian markets, with Sapporo retaining manufacturing in Vietnam and joint brand management.

• Revenue model includes dividends, royalties, and manufacturing earnings, ensuring stable returns and risk management.