Ho Chi Minh City, Vietnam | May 11-12, 2016 | Heineken NV

HEINEKEN FINANCIALMARKETS CONFERENCE 2016HO CHI MINH CITY, VIETNAM

HEINEKEN Asia Pacific Delivering strong growth momentum

Frans EusmanRegional President Asia Pacific

1

AgendaHEINEKEN Asia Pacific — delivering strong growth momentum

Asia Pacific: Important region for HEINEKEN Asia Pacific: Attractive and growing markets

HEINEKEN’s brand priorities in Asia Pacific

HEINEKEN ideally positioned to capture opportunities

2

Integration of Asia Pacific Breweries in 2012paved the way for strong growth

Connect APB & HEINEKEN

Stabilise base business

Build a winning team

Achieve potential synergies

Support mindset shift

Strong business performance

Delivering Strong GrowthIncreasing significance

of Asia Pacific to HEINEKEN’s business

Establishing a diversified footprint in Asia Pacific

3

The region is delivering strong top and bottom line growth…

1 EBIT (beia) includes HEINEKEN‘s share of net profit of joint ventures and associatesSource: HEINEKEN annual report 2013, 2014, 2015

Solid volume growth

Strong profit momentum1

Sustained revenue growth

Above average operating profit margin (beia)

18.0 18.7 20.3

2013 2014 2015

Vo

lum

e, m

hl

566 582

735

2013 2014 2015

EB

IT (

beia

), €

m

2,037 2,0882,483

2013 2014 2015

Re

ve

nu

e,

€m

28.3%

16.5%

HEINEKEN Asia

Pacific

HEINEKEN N.V.

Op

era

tin

g p

rofit m

arg

in2

01

5 (

beia

)

4

…And increasing importance to HEINEKEN group

Source: HEINEKEN annual report 2013, 2015

The Asia Pacific region’s contribution to HEINEKEN’s operating profit (beia) is growing

Europe35%

27%

AMEE17%

21%

Consolidated Operating profit (beia) 2015

WE27%

CEE10%

24%

AME21%

18%

Consolidated Operating profit (beia) 2013

Americas

ASIAPACIFIC

Americas

5

AgendaHEINEKEN Asia Pacific — delivering strong growth momentum

Asia Pacific: Important region for HEINEKEN

Asia Pacific: Attractive and growing marketsHEINEKEN’s brand priorities in Asia Pacific

HEINEKEN ideally positioned to capture opportunities

6

Strong fundamentals underpin future growth potential

1 Asia Pacific average includes only Australia, New Zealand, South Korea, Japan, Vietnam, Laos, Cambodia, Thailand, Myanmar, Singapore, Malaysia, Indonesia, Philippines, China, Taiwan, India and Papua New Guinea

Large young population Increasing affluenceGrowing urbanization

40%

54%

EU Asia Pacific

% Population under the age of 35 (2015)

73%

55%

73%

58%

74%

60%

EU Asia Pacific

2010 2015 2020

% Urban population % of world middle class population

Source: OECD Development centre, working paper no. 285Source: CanadeanSource: Canadean

1 1

28%

54%

36%

22%

36%24%

2009 2020

Asia Pacific Europe Rest of the world

7

Significant headroom to grow per capita consumption

1Asia Pacific average includes only countries listed above. Source: Canadean

74.366.8

48.945.0

41.4 41.4 40.0 38.6

27.0

23.220.9

11.3 10.9

5.82.0 0.7

Australia NewZealand

SouthKorea

Japan Vietnam Laos China Cambodia Thailand Taiwan Singapore Myanmar PapuaNew

Guinea

Malaysia India Indonesia

EUaverage

69.9

Per Capita Beer Consumption 2015 (litres per annum)

Asia Pacificaverage

29.4

8

50%

35%33% 29%

25%22% 21%

16%

14% 13%10% 9% 8%

5%3%

0%

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Th

ail

an

d

My

an

ma

r

So

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Ko

rea

Ca

mb

od

ia

Ch

ina

Jap

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Ind

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Lao

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ine

a

Combined with a compelling premium segment opportunity

Premium segment follows Canadean standard defnition of above 115 price index vs mainstream brandAsia Pacific average includes only countries listed above. Source: Canadean, Company data

Premium segment growth in Asia Pacific significantly higher than the rest of world

Premium segment volume CAGR (2011-15)

Premium segment share low in large markets, offering significant upside for growth

Premium segment share of total beer market (by volume, 2015) EU

average

32%

Legend

HEINEKEN broad market leadership

HEINEKEN market presence

3.5%

8.7%

World Asia Pacific

Asia Pacific

Average

18%

9

AgendaHEINEKEN Asia Pacific — delivering strong growth momentum

Asia Pacific: Important region for HEINEKEN

Asia Pacific: Attractive and growing markets

HEINEKEN’s brand priorities in Asia PacificHEINEKEN ideally positioned to capture opportunities

10

Win in Premium, led by Heineken®

Execute Heineken® global and regional platforms at scale

7th consecutive global partnership with “James Bond” activated by

19 markets in Asia Pacific

Champions League Trophy Tour in South East Asia: Vietnam, Laos,

Myanmar & Indonesia with excellent results

Heineken® Green Room Regional Music platform developed in Asia

Pacific

Leverage Heineken® global platforms & make them locally relevant in Asia Pacific

11

Win in Premium, led by Heineken®

Innovation is a priority for the Heineken® brand globally

and in Asia Pacific

Launched the SUB in China - Premiumise “At home” beer

occasions and open up a new ecommerce route to market

Heineken® Light launched in Taiwan & New Zealand -

Attract new consumers and make Heineken® relevant in

new occasions

Accelerate innovation to attract new consumers & open up new occasions

12

Win in Premium, led by Heineken®

Grow Heineken® penetration by maximising brand presence in key markets

Heineken® has a strong brand presence across the Asia

Pacific region

Continue to focus on Route to Market, Channel Strategy

and ensuring excellent outlet execution

Pack and price strategy by channel will continue to drive

growth opportunities for the brand in key markets

13

Tiger: The iconic Asian beer brand

Award winning with a variety of

external awards

Beer with bite

Establish tiger as the leading

Asian beer in the world

World Acclaimed

Beer

Brewed with pride since

1932

Win in Premium

14

Tiger: The entrepreneurial spirit

• Tiger embodies the entrepreneurial

spirit that makes Asia cool today

• Asia is no longer the factory of the

world. Asia is a center of innovation,

technology and creativity

• Young millennials globally aspire to

the dynamism of modern Asia

15

Strong in its heartlandand also standing out internationally

Source: Canadean, Company data

2013 2014 2015

Tiger Beer Volume Growth (YoY)

10%

24%

*International volume = global volume – home market volume.+ Growth = Volume growth, YoY from 2014 to 2015

Top 10 International beer brands*

Rank Brand Growth+

1 Heineken® 3%

2 Budweiser 3%

3 Corona 5%

4 Carlsberg 3%

5 Tuborg 7%

6 Stella Artois 1%

7 Guinness -3%

8 Amstel 2%

9 Tiger 24%

10 Modelo 19%

16

Tiger extends portfolio as complementary to Heineken®

* Excludes Singapore (home-market) and Malaysia

Modern Premium Recruiting Young Millennials

Unique Brand Positioning Expanding Footprint

Typical Price Index below 140*

Affordable premium yet highly aspirational

Own brand identity, no longer just a stepping stone

Younger consumer group than Heineken®

Value and purpose over price and status

Authenticity over pretentiousness

Born in Singapore, raised on thestreets of Asia

Uncage your Tiger

International potential (UK, US, Russia, Australia & New Zealand)

Opportunity to appeal in craft bars in the West

17

Tiger brand further excites consumers through innovation

Reinforcing Asian origin

Tiger Black

Amber lager brewed with black rice

Tiger Crystal

Classic light lager brewed at -1°C

Tiger White

Asia’s wheat beer — launched in

Malaysia

COASTER — the world’s first crowd

sourced movie made from beer coasters

18

AgendaHEINEKEN Asia Pacific — delivering strong growth momentum

Asia Pacific: Important region for HEINEKEN

Asia Pacific: Attractive and growing markets

HEINEKEN’s brand priorities in Asia Pacific

HEINEKEN ideally positioned to capture opportunities

19

HEINEKEN has a unique footprint in the region

1 Broad market leadership, #1 & #2 positions onlyPremium and Super Premium segment classification as defined by CanadeanSource: Canadean, Company data

Best placed to access regional growth opportunities

15

7

5

2

2

HEINEKEN

Carlsberg

Kirin

SABMiller

ABInbev

Number of #1 and #2 market positions in Asia-Pacific(by volume)

HEINEKEN HAS LEADERSHIP IN THE LARGEST NUMBER OF MARKETS1

45 Breweries8,900 EmployeesOver 50 Brands

Thailand

#1 in Super Premium

China #2

HEINEKEN Lion Australia

#2 in Super Premium

New Zealand #2

New Caledonia #1

Solomon Islands #1

Papua New Guinea #1Cambodia #2

Vietnam #2

Taiwan #2

Mongolia #2

Laos #2

India #1

Sri Lanka #2

Malaysia #1

Singapore #1

Indonesia #1

China#2 in Super Premium

Legend

HEINEKEN broad market leadership

HEINEKEN market presence

Timor-Leste #1

20

Winning brand portfolio, well positioned to capture premium opportunity

Source: HEINEKEN annual report (2015), Company data

HEINEKEN Asia Pacific: Group beer volume and EBIT

(beia) by segment (2015)

61%

38%

39%62%

Volume EBIT (beia)

Mainstream Premium

Mainstream

Premium

Vietnam IndonesiaChina Singapore Cambodia MalaysiaIndia

1

Premium is driving profitability

21

Key markets: compare & contrast

Source: World Bank population estimates, Canadean, Company data PCC: Per Capita Consumption

CHINA: premium focus to drive higher profitability

INDIA: investing for the long-term

Market characteristics Beer PCC is 40L 2015 beer market size 550mhl Premium segment (6% of market) and

super premium segment (3% of the market)

HEINEKEN position and strategy #2 position in the super premium segment Strongholds in coastal areas and in major cities Investing in brand building and route to market

strength

Market characteristics Beer PCC is slightly below 2L 2015 beer market size 26mhl Strict regulations on the production, transportation,

distribution, promotion, pricing and sale of alcohol

HEINEKEN position and strategy #1 market position HEINEKEN’s stake in UBL 43% Leading beer brand with Kingfisher (market share 43%) Heineken®: rolled-out in key cities Strengthened route to market servicing 32 provincial

markets

21 own breweries

8 contract breweries

3 breweries

22

Key markets: compare & contrast

Source: Canadean, Company dataPCC: Per Capita Consumption

MALAYSIA: Consolidating strong market position

Market characteristics Beer PCC 0.7L 2015 beer market size 1.8mhl Recent regulation restricting the sales of beer

in mini-markets has adversely impacted beer sales

Market and consumer behavior changing to adapt to the new regulations and an improving economic backdrop

HEINEKEN position and strategy #1 market position. Strong legacy, established

presence Majority stake in Multi Bintang Indonesia Strong product portfolio, broadening portfolio

with low/no alcohol (Bintang Radler 2%, Bintang Radler 0.0%, Fayrouz and Greensands)

Strong route to market

Market characteristics Beer PCC 5.8L 2015 beer market size 1.8mhl External environment near term challenging

given low consumer confidence, low oil and commodity prices

Positive outlook in the medium to long-term

HEINEKEN’s position and strategy #1 market position. HEINEKEN acquired controlling stake in

HEINEKEN Malaysia Berhad (October 2015) Strong and comprehensive portfolio of brands –

Heineken®, Tiger, Guinness and Anchor are each leaders in their sub-segments

INDONESIA: market evolving post regulation

2 breweries & 1 non alcoholic beverage plant

1 brewery

23

Key markets: compare & contrast

Source: Canadean, Company dataPCC: Per Capita Consumption

VIETNAM: Attractive market with an exciting premiumisation opportunity

Market characteristics Beer PCC 38.6L 2015 beer market size 6.1mhl Growing economy - the 6th fastest growing

economy in the world Attractive demographics with young growing

population and rising urbanization

HEINEKEN expanding to drive future growth #2 market position with Cambodia Brewery

Ltd Strong brand portfolio with strategy to

premiumise further Capacity expansion underway

Market characteristics Beer PCC 41.4L 2015 beer market size 38mhl Strong economic fundamentals with rapid

urbanization driving beer growth

HEINEKEN’s premium focus #2 market position operating under two

companies: APB Hanoi in the North (100% HEINEKEN

owned) Vietnam Brewery Ltd (60% HEINEKEN stake)

Broad brewery footprint – 5 breweries across the country

A premium led brand portfolio with Heineken®

and Tiger supported by Larue in mainstream

CAMBODIA: Growing market with strong fundamentals

1 brewery

5 breweries

24

Vietnam: HEINEKEN structureTwo operating companies and five breweries

100%

100%

100%

100%

60%

40%

100%100%Hanoi Brewery

Hoc Mon Brewery

Tien Giang Brewery

Da Nang Brewery

Quang Nam Brewery

SATRA: Saigon Trading Group is a State Owned Enterprise with 70 subsidiaries and JVs headquartered in Ho Chi Minh city. SATRA is under management of Ho Chi Minh City People‘s Committee

25

Summary

Asia Pacific is an important region for HEINEKEN which has seen impressive growth post the APB transaction. Long history & expertise in the region an advantage

The region benefits from strong fundamentals which will drive future beer market growth

HEINEKEN’s brand portfolio provides an excellent opportunity to capture growth, with brand focus on Heineken® and Tiger providing exposure to the high potential premium segment

Extensive footprint and market leadership positions provide a distinct competitive advantage