Heineken N.V.

Earnings Release • Oct 22, 2025

Heineken N.V. reports on 2025 third quarter trading

Amsterdam, 22 October 2025 – Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) announces

Staying the course while navigating a challenging quarter

Key Quarterly Highlights

• Revenue €8,712 million for the quarter, €25,636 million year to date
• Net revenue (beia) organically down 0.3% for the quarter, up 1.3% year to date
• Beer volume organically down 4.3% for the quarter, down 2.3% year to date
• Premium beer volume organically down 2.2% for the quarter, up 0.4% year to date
• Heineken® volume down 0.6% for the quarter, up 2.7% year to date
• 2025 organic operating profit (beia) growth anticipated to be towards the lower end of the 4% to 8% guidance

CEO Statement

Dolf van den Brink, Chairman of the Executive Board / CEO, commented:

"Macroeconomic volatility persisted as anticipated and became more pronounced in the third quarter, creating a challenging environment, resulting in a mixed performance. We expect consumer confidence and demand to recover when conditions normalise.

Our advantaged geographical footprint helped us adapt, amongst others with solid beer volume growth in Southern Africa, gains across the portfolio in Vietnam, and continued strong growth for Heineken® and Amstel in China, partially offsetting some of the weakness in Europe and the Americas. We are also excited about the announced FIFCO transaction in Central America, which will further strengthen our growth footprint and be earnings accretive.

Staying the course on our EverGreen strategy, our portfolio continues to evolve positively, with market share gains in a substantial majority of our markets, and Heineken® and premium volume growing year-to-date. Furthermore, we are future-proofing the business by accelerating digital investments and reshaping our organisation.

Taking into account the challenging quarter, we remain confident in delivering €0.5 billion gross savings for 2025, and anticipate our full year organic operating profit (beia) growth to be towards the lower end of our 4% to 8% guidance."

Enquiries

Global Communications Director Investor Relations Director

E-mail:

Tel: +31-20-5239355 Tel: +31-20-5239590

Media Investors

Christiaan Prins Tristan van Strien

Marlie Paauw Lennart Scholtus / Chris Steyn

Global Media Lead Investor Relations Manager / Senior Analyst

pressoffice.heineken@heineken.com E-mail: investors@heineken.com

Conference Call Details

HEINEKEN will host an analyst and investor conference call with Harold van den Broek, Chief Financial Officer, in relation to its Third Quarter 2025 Trading Update today at 09:30 CET/08:30 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 USA (Local): 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: 776757.

On Thursday 23 October 2025 HEINEKEN is hosting a Capital Markets Event. To join virtually please refer to the following link: HEINEKEN CME 2025

Attachment

HEINEKEN NV Q3 2025 Trading Update