Heineken (HEIA) Investor presentation summary

EverGreen 2030 strategy

• Medium-term ambition: superior, balanced growth with attractive shareholder returns; organic net revenue growth of +MSD and cash conversion above 90%.

• Strategic priorities: accelerate growth, step up productivity, and build a future-fit business through digital capabilities, AI, sustainability and a winning culture.

• Incentives link to growth, operating profit, EPS, free operating cash flow and ROIC; sustainability targets include Scope 1 and 2 net zero by 2030, water use below 2.6 hl/hl and 40% women in senior management.

Market opportunity and footprint

• Beer category growth outlook varies by market archetype; key drivers include premiumisation, diversification, shifts from wine to beer, population growth, urbanisation and rising middle-class incomes.

• 53 number-one or number-two market positions across regions; footprint mix is Europe 33% of volume and 30% of operating profit, Americas 33% and 41%, Africa & Middle East 17% and 9%, and Asia Pacific 17% and 20%.

• Investment is focused on 17 markets expected to drive about 90% of growth; markets without a path to sustainable value creation may pivot strategy, partner locally or exit.

• India is expected to be the largest volume-growth contributor among focus markets and a top-three premium-volume growth engine for 2026–2030; it is home to Kingfisher and two global brands.

Brands and category growth

• The Heineken® brand is present in more than 190 countries and ranks number one globally in beer sales value and brand power; volume grew 47% over the last five years.

• Segment focus includes premium, mainstream, low- and no-alcohol, and Beyond Beer; premium is about 30% of category and grows at about twice the beer-category rate, while 0.0 grows at about 10 times the rate.

• H1 2026 Heineken® volume grew 5.3%, including 7.2% growth for Heineken® 0.0; global brand volume rose 5.3%, with all global brands in growth.

• China licensed volumes grew at about 50% CAGR from 2019 to 2025, with share of profit up 25% CAGR; the ambition is to become the number-one player in the premium segment.