CHAIRMANDr Franz B Humer was appointed Chairman of Diageo plc in July 2008, having been a Non-Executive Director since April 2005. He is also Chairman of F. Hoffmann-La Roche Ltd. in Switzerland and Chairman of INSEAD’s board of directors and a Non-Executive Director of Citi Group Inc. He was formerly Chief Operating Director of Glaxo Holdings plc and has held a number of other non-executive directorships.

CHIEF EXECUTIVEIvan Menezes was appointed Chief Executive of Diageo plc on 1 July 2013, having been a Director since July 2012. He was Chief Operating Officer from March 2012 and was previously President, North America since January 2004, Chairman, Diageo Asia Pacific since October 2008 and Chairman, Diageo Latin America and Caribbean since July 2011. Prior to this he held various senior management positions with Guinness and then Diageo and worked across a variety of sales, marketing and strategy roles with Nestlé in Asia, Booz Allen Hamilton Inc in the United States and Whirlpool in Europe. He is also a Non-Executive Director of Coach Inc., in the United States.

CHIEF FINANCIAL OFFICER Deirdre Mahlan was appointed Chief Financial Officer of Diageo plc in October 2010 having worked for Joseph E. Seagram & Sons Inc. since 1992. She has held a number of senior finance positions in Diageo including Finance Director of our biggest region, North America, and Global Head of Tax, Treasury and Shared Services. Most recently, she was Deputy Chief Financial Officer of Diageo plc. Deirdre was appointed to the board of Experian plc in September 2012 and is also a member of the Main Committee of the 100 Group of Finance Directors.

MEMBERS OF THE EXECUTIVE COMMITTEE Executive committee: Ivan Menezes (Chief Executive), Deirdre Mahlan (Chief Financial Officer), Nick Blazquez (President, Africa, Eurasia and Pacific), David Cutter (President, Global Supply and Procurement), Andy Fennell (President and Chief Operating Officer, Africa), Alberto Gavazzi (President, Latin America and Caribbean), Gilbert Ghostine (President, India and Greater China, and Chief Corporate Development Officer), John Kennedy (President, Western Europe), Charlotte Lambkin (Corporate Relations Director), Anna Manz (Group Strategy Director), Siobhan Moriarty (General Counsel), Syl Saller (Chief Marketing Officer), Larry Schwartz (President, North America) and Leanne Wood (Human Resources Director).

Non-executive directors: Lord Davies of Abersoch, Peggy B Bruzelius, Laurence M Danon, Betsy D Holden, Ho KwonPing and Philip G Scott.

DR FRANZ HUMER IVAN MENEZES DEIRDRE MAHLAN

FULL YEAR RESULTS 2014 (YEAR ENDED 30 JUNE 2014)

Diageo is a global leader in beverage alcohol with an outstanding collection of beverage alcohol brands across spirits, beer and wine categories. These brands include Johnnie Walker, Crown Royal, J&B, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ketel One and Cîroc vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).

We employ approximately 28,000 talented people worldwide with offices in around 80 countries. Our manufacturing facilities are located across the globe including Great Britain, Ireland, United States, Canada, Italy, Africa, Australia and Latin America and Caribbean.

Diageo was formed in 1997, following the merger of GrandMet and Guinness, and is headquartered in London. The word Diageo comes from the Latin for day (dia) and the Greek for world (geo). We take this to mean every day, everywhere, people celebrate with our brands.

OTHER FINANCIAL INFORMATION2014 REPORTED 2013 REPORTED

(restated)ORGANIC

GROWTH %REPORTED

GROWTH %

Volume (9-L equivalent cases)

156.1m 164.2m (2) (5)

Net sales £10,258m £11,303m - (9)

Marketing spend £1,620m £1,769m (1) (8)

Operating profit before exceptional items*

£3,134m £3,479m 3 (10)

Operating profit** £2,707m £3,380m (20)

Reported tax rate 16.5% 16.6% (1)

Reported tax rate before exceptional items

18.2% 17.4% 5

Profit attributable to parent company’s shareholders

£2,248m £2,452m (8)

Basic earnings per share 89.7p 98p (8)

Recommended full year dividend

51.70p 47.40p 9

* Operating profit before exceptional items includes attributable transaction and integration costs of £25 million (2013 – £8 million) in respect of business acquisitions. ** Operating profit includes an exceptional charge of £427 million

KEY PERFORMANCE INDICATORS

2014 2013

Organic net sales growth - 5%

Organic operating margin improvement 77 basis points 78 basis points

Earnings per share before exceptional items 95.5p 103.1p

Free cash flow £1,235m £1,452m

Return on average invested capital 13.7% 16%

STOCK EXCHANGE DATA AS AT 30 JUNE 2014

Listing London Stock Exchange New York Stock Exchange

Ticker DGE DEO

Sector Beverages Beverages

Market cap £47bn US$80bn

Shares in issue 2,511,992,593 627,998,148

MAJOR SHAREHOLDERS AS AT 30 JUNE 2014*

BlackRock Inc 6.25%

MFS Investment Management 4.25%

Harris Associates LP (US) 3.47%

*source: J.P. Morgan Cazenove shareholder analysis. The institutional shareholder positions are the aggregation of mutual fund and pension fund shares of an investment management company, identified and collated through regulatory responses. For major shareholders (3% or more) as notified to the company registrar, please refer to Diageo’s Annual Report for the year ended 30 June 2013.

FINANCIAL CALENDAR

AGM 18 September 2014

Q1 IMS 16 October 2014

Financial Year 1 July to 30 June

ADVISORS

Corporate Brokers Morgan Stanley and Bank of America Merrill Lynch

Auditors KPMG

SPLIT

North America 34%

Western Europe 21%

Africa, EE and Turkey 21%

Latin America and Caribbean 11%

Asia Pacific 13%

SPLIT

North America 45%

Western Europe 19%

Africa, EE and Turkey 17%

Latin America and Caribbean 10%

Asia Pacific 9%

NET SALES BY REGION (£ MILLION)*

OPERATING PROFIT BY REGION (£ MILLION)**

3,4441,460

639

554

328

283

2,1692,075

1,144

1,347

** Pre exceptional items (excluding Corporate)* Sales after excise duties (excluding Corporate)

PERFORMANCE AMBITIONDiageo’s Performance Ambition is to create one of the best performing, most trusted and respected consumer products companies in the world.

Our focus across the business is on the following six key performance drivers: 1 Strengthen and accelerate our premium core brands 2 Win in reserve in every market 3 Innovate at scale to meet new consumer needs 4 Build and then constantly extend our advantage in route to consumer 5 Drive out costs to invest in growth 6 Ensure we have the talent to deliver our performance ambition

NORTH AMERICANorth America, our biggest and most profitable region, continued to deliver solid top line growth and significant margin expansion. Economic recovery in the United States is uneven and this is reflected by the consumer trends seen in US spirits where the overall spirits category growth slowed and the premium and above price points drove category growth.

Scotch, North American whiskey and tequila are leading the growth. Performance in

vodka was weak as Smirnoff lost volume share in an increasingly price competitive market. Guinness was adversely impacted by the growth of craft beer and the weak performance of Guinness Black Lager.

Reserve brands delivered strong growth of 14% driven by Johnnie Walker, Bulleit and Cîroc Amaretto, while innovation continues to plays an important role in driving brand relevance and recruiting new consumers.

WESTERN EUROPEDespite weak economies and fragile consumer confidence, Western Europe has stabilised and there has been steady improvement year on year.

We have focused on fewer, bigger, pan-regional innovation launches like Baileys Chocolat Luxe and Smirnoff Gold. Our reserve business was strong with net sales up 15% driven by the scotch malts, Cîroc, Zacapa and Johnnie Walker.

In Great Britain, net sales were up 2% driven by strong performance of Baileys on the back of a new advertising campaign and the launch of Baileys Chocolat Luxe. Captain Morgan and Cîroc also performed well and ready to drink was up double digit led by the success of premix cans.

Following a significant increase in excise duties in the first half of the year, the market in Ireland remained challenging and net sales declined 4%.

In Southern Europe net sales declined 3%.

In France, net sales grew 1% on the back of strong performance of scotch malts and Captain Morgan.

In Germany, following a number of years of double digit growth, Captain Morgan is now Diageo’s second biggest brand. However, overall performance was weaker and Smirnoff and Baileys continued to decline.

AFRICA, EASTERN EUROPE AND TURKEYIn a tough year, and despite facing significant challenges, net sales grew 1% in the region. We have expanded our route to consumer, grown reserve brands 26% and reinvigorated Guinness across the brand’s key markets in Africa.

Nigeria’s net sales declined 9% as the beer market became more price competitive, significantly impacting Harp. Spirits and ready to drink grew strongly on the back of the launch of Orijin.

East Africa’s net sales grew and price increases across our beer portfolio drove strong price/mix. Guinness and Tusker grew double digit and innovations such as Jebel Gold, which is targeted at providing value for money offering to consumers, have driven growth. This strong performance was partly offset by Senator keg in Kenya where the brand declined around 80% post the duty change.

In Africa Regional Markets, net sales were up 2% with growth of beer partly impacted by the decline in spirits largely as a result of distributor changes in Angola.

In South Africa, share gains and price increases drove 12% net sales growth. Johnnie Walker grew double digit across price segments.

Net sales growth in Russia and Eastern Europe slowed to 2%. In Russia net sales grew 4% as Diageo grew share in whisk(e)y with growth of White Horse and double digit growth of Bushmills and Bell’s. Rum also saw strong growth due to Captain Morgan. The impact of the crisis in Ukraine impacted growth in the rest of Diageo’s distributor markets in Eastern Europe.

Net sales for Turkey grew 5% as the raki category stabilised.

LATIN AMERICA AND CARIBBEANOur Latin America and Caribbean business has delivered a good set of results despite mixed performances in individual countries. While scotch remains the largest category in the region, growth came from the investment we made in vodka, cachaça and liqueurs to capture the growing affluent and emerging middle class.

In West LAC, our biggest market, net sales were down 8% following a destocking in the border zone areas.

Both Brazil and Colombia delivered solid performances, benefiting from changes in the route to consumer and, in Brazil, from synergy with Ypióca. In our PUB market, (Paraguay, Uruguay and Brazil), vodka net sales increased 15% driven by Smirnoff which gained share in the standard vodka segment. In the growing luxury segment,

Cîroc and Ketel One vodka continued to perform strongly with net sales growing 41% and 25% respectively.

In a challenging operating environment Venezuela net sales grew 78% with slower growth in the second half as high inflation and currency devaluation has affected demand and the affordability of imported products.

In Mexico, net sales declined 4%. Johnnie Walker net sales were down 7% but the brand gained share across price segments. Old Parr net sales were up 30% supported by the launch of Old Parr Silver. In the fast growing value segment, Black & White nearly doubled in size and grew share. Baileys also extended its lead in the liqueur category.

ASIA PACIFIC Performance in Asia Pacific was impacted by a weaker trading environment in China and South East Asia.

In China, the effects of the government anti extravagance campaign severely impacted the on trade channel, and continued to affect performance. Reserve brands net sales grew 9%, driven by a strong growth in scotch malts and Baileys net sales grew double digit.

South East Asia was impacted by tax increases and social unrest in Thailand and destocking in other markets and channels. In Indonesia net sales were up double digit driven by 7% growth of Guinness and strong performance of ready to drink.

In North Asia, net sales increased 4% driven by Windsor in Korea and strong growth from Smirnoff Ice in Japan.

Diageo India continued to deliver strong double digit net sales growth as it leveraged United Spirits’ advantaged route to consumer. Strong performance by Johnnie Walker Black Label, VAT 69 and Black & White drove most of the growth in scotch and Smirnoff net sales grew high single digit.

In Australia net sales declined 3%, largely driven by the decline in ready to drink.

In Global Travel Asia and Middle East (GTME) net sales were up 19% driven by growth in the Middle East, despite political turmoil. Global Travel Asia returned to growth with net sales up 9%.

OUR PERFORMANCE AMBITION AND OUR REGIONS(YEAR ENDED 30 JUNE 2014)

PROGRESS OF OUR SIX KEY PERFORMANCE DRIVERS AGAINST OUR PERFORMANCE AMBITIONOur approach to how we will grow our premium core brands is tailored in each market:

• In emerging markets, it will be driven both by growth of the existing premium core brands, and by their introduction into new markets as we widen our portfolio across categories.

• In developed markets the key to growth is recruitment and re-recruitment and keeping premium core brands relevant through marketing and innovation to each generation of consumers.

Win in reserve in every market: This year reserve grew double digit in every region as we extended our leadership across the whole segment and in the key categories. We have done this by building our expertise and capability and unlocking multi-channel experiences for luxury consumers:

• We have extended our global account coverage for reserve from 10,000 to 30,000 accounts in the past 4 years, and have solid plans to reach 50,000 in the next 2 years.

• Diageo Reserve now has a strong e-commerce presence with its own platform in Europe, Alexander & James, and a reserve online Flagship store in China.

• Our network of Johnnie Walker Houses continues to grow – we now have three in Shanghai, Beijing and Seoul, and over 10,000 high net worth individuals and Influencers have visited the Houses in the past 12 months.

• World Class, now in its sixth year, is also a significant growth driver for our brands.

Innovate at scale to meet new consumer need: This year we made a shift to drive fewer, bigger innovations supported by even bolder execution. They need to have scale and rely on a strong route to consumer and supply solutions to make them a success.

• In East Africa, we are using Jebel Gold to reach value-conscious consumers. By accelerating the launch of the brand it helped offset some of the weakness on Senator and we are working to roll it out at scale across our bespoke Senator route to consumer in Kenya.

Build and then constantly extend our advantage in route to consumer to enable and empower our markets to drive broader distribution and higher rates of sales for our brands in an efficient way:

• We are making sure that we are in more places and in the right places. For example, in Spain we have more than doubled our sales force in Madrid and Barcelona allowing us to extend direct coverage from under 500 outlets to over 2,500 today.

• We are driving a higher rate of sales across outlets by collaborating with customers and bar tenders to codify and roll out best practice, through our Diageo Bar Academy and our World Class programme.

• Innovation also plays a key role. With the launch of new local spirits and beer brands we are capturing growth from lower income consumers while the introduction of super and ultra premium variants into some of our trend leading accounts, helps to reach higher end consumers.

Drive out costs to invest in growth: Our focus on costs is starting to yield real results, and drove 77bps operating margin improvement and 3% operating profit growth.

Ensure we have the talent to deliver our performance ambition remains central to our growth plans, and is critical for each market.

CATEGORY OVERVIEWSpirits net sales were broadly flat, with growth in the United States offset by weakness in emerging markets, particularly Asia Pacific. Reserve brands delivered the strongest growth up 14%, with 5ppts of positive price/mix.

Whisk(e)y, our largest spirits category, performed broadly in line with overall spirits, and strong performance in North America offset a weaker performance in emerging markets. Scotch net sales declined 1%, largely driven by Johnnie Walker.

• Johnnie Walker’s 4% net sales decline was driven by Johnnie Walker Red and Black Label which were adversely impacted by market weakness in a number of emerging markets while reserve brand variants grew strongly.

• Crown Royal net sales grew 1% driven by the launch of Crown Royal XO and Crown Royal 75th Anniversary.

• J&B net sales declined 8%, primarily driven by increased price competition in the Spanish scotch market, and a decline in stock levels in Mexico.

• Buchanan’s grew net sales 6% driven by Venezuela and North America where the brand continued to target Latin American consumers.

• Bulleit continued its strong trajectory with net sales up 69% as the brand grew strongly in North America and expanded in to new markets.

• Windsor’s performance improved with net sales up 1% globally and 3% in Korea.

• Bushmills net sales growth of 7% was driven by the ’Bushmills Live’ platform and the honey flavour innovation.

• Scotch Malts performed very strongly with net sales up 18%.

Vodka net sales were broadly flat, with strong growth in reserve offsetting the decline in standard and value segments.

• Smirnoff net sales declined by 2% globally, driven by increasing price pressure in its largest markets of North America and Western Europe. In Latin America, Smirnoff delivered strong growth in both Brazil and Argentina. There was also positive momentum from innovations, such as the Smirnoff Confectionary line in North America and Smirnoff Gold in Western Europe.

• Ketel One vodka grew net sales 6% and volume 3%. Next sales were up 4% in North America and over 40% elsewhere.

• Over 85% of Cîroc’s net sales are from North America, where strong performance and share gains, driven by the launch of Cîroc Amaretto, were not enough to offset decline in the overall trademark which faced tough price competition.

Outside of North America Cîroc sustained its growth trajectory, with strong net sales growth in Western Europe, Brazil and GTME.

Rum net sales grew 7% driven by Captain Morgan, Zacapa and Cacique.

• Captain Morgan performed strongly with net sales growing 6% driven by North America, its largest market, Great Britain, Russia and Eastern Europe and Australia.

• Zacapa net sales grew 22%, driven by 37% growth in its largest region, Western Europe, with strong growth in Russia and Eastern Europe and North America as well.

• Cacique net sales increased 16% driven by both volume growth and price increases in Venezuela as consumers switched to more affordable local spirits.

Liqueurs performance was driven by Baileys, which represents over 85% of the category.

• Baileys performance was broadly flat overall and mixed across markets with great momentum in China on the back of the ’Sisterhood Campaign’. In Western Europe, net sales declined, with performance impacted by price increases in Germany and Benelux. This decline was partly offset by the successful launch of Baileys Chocolat Luxe, which drove share gains in Great Britain.

Tequila net sales grew 34% driven by strong performance of Don Julio on the back of a significant increase in marketing spend and strong growth in the United States and Western Europe.

Gin net sales grew 3%, with strong growth in Western Europe, Africa, and Latin America partly offset by a decline in Asia Pacific.

• Tanqueray net sales grew 6% with growth in all regions supported by the extension of the ‘Tonight we Tanqueray’ campaign.

Beer net sales declined 3%. In Nigeria consumers traded down to value beer resulting in share losses, duty changes had a negative impact on Senator keg in Kenya, and there were continued challenges in Ireland, Great Britain and North America.

• Guinness net sales were down 1%. The brand declined in Nigeria due to challenging market conditions, in North America where it faced increasing competition from craft beer and Western Europe where the on trade remains challenging. Guinness performed strongly in East Africa where price rises drove net sales growth of 19%, supported by an increase in marketing spend. Growth was also strong in Indonesia.

OUR KEY PERFORMANCE DRIVERS AND OUR CATEGORIES(YEAR ENDED 30 JUNE 2014)

Diageo plc, Lakeside Drive, Park Royal, London, NW10 7HQ Tel +44 (0)20 8978 6000, www.diageo.com For more information please contact: press.office@diageo.com

*IWSR; **Impact Databank; ***Nielsen; **** Beverage Information Group; *****Plato Logic

Before making any investment decision with respect to Diageo’s ordinary shares, investors are directed to Diageo’s preliminary results press release for the year ended 30 June 2014 including an explanation of organic measures used in the document and a section on ‘Risk Factors’ that could impact the business. The Annual Report and additional information about Diageo can be found at www.diageo.com. The reader should consult any additional disclosures Diageo may make in documents it files with the United States Securities and Exchange Commission. Diageo does not undertake to update any information herein.

BRAND CATEGORY VOLUME (MILLION 9-LITRE EQUIVALENT CASES)

TOP MARKETS (NET SALES)

JOHNNIE WALKER Scotch whisky

No. 1 Scotch whisky in the world* 18.9

United StatesGTME

BrazilMexico

ChinaThailandSouth AfricaTaiwan

CROWN ROYAL Canadian whisky

No. 1 Canadian whisky in the world**5.3

United StatesCanada

J&B Scotch whisky

No. 5 Scotch whisky in the world* 3.7

SpainFranceSouth AfricaUnited States

Turkey Belgium Portugal

BUCHANAN’S Scotch whisky

No. 3 Premium Scotch whisky in Latin America and Caribbean*1.6

United StatesMexicoVenezuelaColombia

WINDSOR Scotch whisky

No. 2 Super Premium Scotch whisky in Asia Pacific*0.7

KoreaChina

BUSHMILLS Irish whiskey No. 3 Irish whiskey in the world* 0.8

United StatesRussiaIreland France

Great Britain

SMIRNOFF Vodka No. 1 Premium vodka in the world**25.9

United StatesGreat BritainCanadaBrazil

South AfricaAustralia

KETEL ONE VODKA Vodka No. 2 Super Premium vodka in the United States***2.4

United StatesCanadaAustraliaBrazil

CÎROC Vodka No. 2 Ultra Premium vodka in the United States***2.2

United StatesBrazilGreat Britain

CAPTAIN MORGAN Rum No. 2 brand in the rum category in the world** 10.9

United StatesCanadaGreat BritainGermany

Russia South Africa

BAILEYS Liqueur No. 1 Liqueur in the world** 6.4

United StatesGreat BritainCanadaGermany

Spain

DON JULIO Tequila No.1 Ultra premium tequila in the world*0.3

United StatesColombiaAustraliaCanada

TANQUERAY Gin No. 1 imported gin in the United States****2.3

United StatesSpainCanadaGreat Britain

AustraliaItaly

GUINNESS Beer No. 1 Stout in the world*****10.2

Great BritainIrelandNigeriaUnited States

Indonesia Cameroon

BRANDS PERFORMANCE(volumes, excl. RTDs, and top markets for year ended 30 June 2014)