HEINEKEN FINANCIALMARKETS CONFERENCE 2016HO CHI MINH CITY, VIETNAM

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

Passion forCommercial ExcellenceLaurent Theodore Commercial Director, Vietnam Brewery Ltd

Nguyen Phuong HoangMarketing Manager Tiger, Vietnam Brewery Ltd

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AgendaPassion for Commercial Excellence

Consumer and market structureCommercial strategy to win

Summary

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A new Vietnamese consumer is emerging…

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…With new trends in consumer behaviour

Source: Nielsen, Kantar World Panel

Increasing number of middle class consumers

Increasing modernisationand online activities

Consumer more optimistic about the future

IndividualisationMore demand to express

personal characteristics —“It’s All About Me” concept

Connect me to the worldMore digital social engagement

and use of e-commerce increasing

ConvenienceDemand for more ready to use format and proximity channels to fit with fast

pace lifestyle

Health-consciousHealth increasingly important

to consumers, and one of his or her top concerns

Regional differencesConsumer demand and

characteristics differ by region, and between rural and urban

4 Source: Canadean

Home consumption increasing in

preference

Premium showing fastest growth and

gaining importance

3.1%-5.5% (ABV) is the most popular

lager strength (>99% share)

OFF PREMISE CONSUMPTION BECOMING MORE POPULAR

PREMIUM SEGMENT INCREASING SHARE

ON71%

ON69%

ON65%

OFF29%

OFF31%

OFF35%

2011 2013 2015

14% 10% 8%

70% 71% 71%

16% 19% 21%

2011 2013 2015

Economy Mainstream Premium

Changing market structure & consumer preference

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Preferred pack type is also changing

Source: Canadean 2015, Company dataVBL – Vietnam Brewery Ltd

Preference for cans is increasing, although bottles are still preferred in the On Trade

Demand for smaller bottles is increasing

...with VBL’s bottlebusiness outperformingthe market

Cans are becoming increasingly important

Increasing demand for smaller bottles

Within the bottle segment VBL

outperforming

58% 52% 49%

33% 40% 43%

9% 8% 8%

2011 2013 2015 2011 2013 2015

Small bottles(330/355ml)

Big bottles(450/640ml) 0% 1%

6%

1%

5%

22%

2013 2014 2015Market VBL

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AgendaPassion for Commercial Excellence

Consumer and market structure

Commercial strategy to winSummary

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Commercial Strategy to Win

Reignite growth in Heineken®

Fuel Tiger growth momentum

Build Larue to secure broad portfolio leadership

Lead market innovation

Develop and deliver Excellent Outlet Execution

Strengthen Route to Market

1 2 3

4 5 6

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Reignite growth in Heineken®

Through innovation and brand investment to build iconic cities

4 key cities identified as Heineken® iconic cities withstrong opportunity and potential to grow

Continue to drive excitement with innovation throughnew packaging formats to grow volume and revenue

Extend and amplify scale of the brand through global 360 degree campaigns

Make the brand locally relevant through experiential and local top spin

Satisfy shopper needs using insight-based channelactivation to reinforce brand presence at outlet level

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Heineken® UCL campaign 2015

ATL – AdvertisingBTL – PromotionTVC – TV CommercialOOH – Out of HomePR – Public Relations

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Heineken® cities 360° campaign

ATL – AdvertisingBTL – PromotionTVC – TV CommercialOOH – Out of HomePR – Public Relations

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James Bond 360° integrated campaign

ATL – AdvertisingBTL – PromotionTVC – TV CommercialOOH – Out of HomePR – Public Relations

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2012 2013 2014 2015

Fuel Tiger growth momentum Leverage strong Tiger brand performance to drive market share

Further drive market share in attractiveaffordable premium segment

Strengthen and further leverage the successful UNCAGE platform with new and exciting consumer engagement

Leverage innovation and maximise the potential of Tiger Crystal to recruit more young legal drinking age consumers

Clear geographic strategy – identification of super star, 2nd and 3rd tier cities

VOL. CAGR +36%

REMIX

CRYSTAL

WALL

ASIAN FOODUNCAGE

Source: Company data

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Tiger Uncage – ‘Awake your courage’ Bring to life new brand essence, inspiring & engaging consumers via 360 degree campaign

AWAKE YOUR COURAGEPACKAGING OFF PREMISE ON PREMISE BEER CLUB VISIBILITY

VIETMAX TVC PRINT DIGITAL PROUT OF HOME (OOH)

VIETMAX

Vietnamese famous HipHopDancer & Creative Entrepreneur

TVC – TV CommercialPR – Public Relations

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Tiger festive campaign

OOH – Out of HomePR – Public RelationsFPT Play – famous Vietnamese app on smart phone

360 degree campaign to engage consumers

SOCIAL MEDIA

OOH PR

LIVE STREAMING

ACTIVATION

EVENTBillboards

in strategic Tiger

cities

Significant views on

social media

PR initiatives with

2016 calendar

insertion &

Vietnam’s

1st audio magazine

Remix event live

streaming on FPT

play & 4 online

channels to gain 2

million reach

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Tiger Remix eventsThe ultimate Tiger music experience in 5 cities

ATTENDANCE

~260,000REACH

~36 million

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Tiger Wall – Awake your courage The unique & impressive 30-metre high Tiger Wall is a symbol of courage

AWAKE YOUR COURAGETIGER WALL

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Tiger Asian food

TVC – TV CommercialSOV – Share of VoicePR – Public Relations

The first ever food platform, ‘Uncage’ the pride of 200 masterchefs across Vietnam

TIGERASIAN FOOD

Outlet visibility with Luke Nguyen (local food celebrity)

PR with celebrities

TVC launch: 1 March 2016 Dominant SOV across 3 key cities

Uncage food event

Digital amplification via online food portal

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Tiger Crystal – a successful innovationAmbition to be the no.1 refreshing beer brand for male and female consumers in Vietnam

Invigorating the mother Tiger brand with a more premium variant

Price point 10% above mother brand

Capturing young legal drinking ageconsumers in growing affordablepremium segment

Delivering a strategic role

TVC

OOH

PRINT ADS

PR

-1°C INTENSE REFRESHMENT

EXPERIENTIAL NEW FORMATS TO RAISE BRAND VISIBILITYREFERENCE OUTLET

2012 2015

VOL. CAGR 21%

SINCE 2015

SINCE 2008

TVC – TV CommercialOOH – Out of HomePR – Public Relations

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Build Larue to secure broad portfolio leadership

Two fold strategy to consolidate position in existing strong markets and expand beyond them

Founded in 1909 by two French brothers in Cho Lon Acquired by VBL in 2007

Identification of core markets and conquer markets for the brand Core markets - strategy to consolidate mainstream leadership

Conquer markets - replicate success of Ca Mau and expand footprint into

rural markets

New “Uncap Friendship” campaign to build brand equity, enhanced by TVC and on the ground consumer engagement activities Ca Mau

Da Nang

Quang Nam

Core

TVC – TV CommercialVBL – Vietnam Brewery Ltd

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TVC/Print

ON & OFF Visibility

Outlet activation

Friendship packaging

PR/Digital

Consumer engagement

Build Larue to secure broad portfolio leadership360 degree integrated campaign on new “Friendship Forever” platform

TVC – TV CommercialPR – Public Relations

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Lead market innovation

Source: Company data

Innovation - a key strategic priority for the portfolio 2016 - 2018

Seize innovation opportunities withstrategic brands, and leverage existingbrand equity

Identify opportunities for new brandsand new categories

Build a strong innovation pipeline

2015 2018F

x 3

Ambition to triple innovation rate in 3 years

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Launching Global Priority BrandsContinue to develop and launch successful global premium innovations

Create and lead the Cider category in Vietnam, withgame changer ambition

Seed Desperados to attract super premium and party orientated consumers

Establish Affligem in the specialty beer segment

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Develop and deliver Excellent Outlet Execution

EOE – Excellent Outlet ExecutionSRP – Sales Reward Programme

Clear guidance on focus at point of sale

(EOE score)

Leveraging technology to optimise visits & provide

on-time information & support

Daily coaching for higher performance

& rewards (SRP)

NET NUMERIC DISTRIBUTION

FORWARD STOCK

TOUCH POINT SCORE

PERFECT SERVE

PRODUCT DISPLAY

PERSUASION

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Develop and deliverExcellent Outlet Execution

Source: Company data1Coverage rate is the percentage of outlet coverage in total outlet universe

Winning at the point of sale

EOE platform was introducedMarch 2015 and is nowfirmly embedded in sales force operations

Through improving EOE scores, Sales teams are achieving better volume

Coverage rate by sales force (%)1

Key benefits Strengthening route to market

Empowering the sales force with a strong system and clear guideline on delivery focus at point of sale

Promoting accountability withstandardised scorecards and tracking

Optimising time spent in the market

Promotes continuous improvementby sales force

Driving EOE into all levels within the organisation for better alignment2014 2015

+ 500 BPS

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Strengthening Route to MarketEnhancing the quality of Route to Market in the On and Off Trade

Driving volume growth through distributors, encouraging loyalty and maximising direct delivery via an effective incentivisation system

Focused on delivering on the 3Ms (“Mass, Margin, Momentum”) for distributors, with a focus on

commercial competency development

Developing Sub-Distributors to enhancedistribution and provide a back up for futuresustainability of distributors

Leading development of beer category in modern trade through perfect in-store execution

Distributors

Sub-Distributors

Outlets

Supermarket & CVS (~19 chains)

4 Breweries

~ 60%

~ 40%

~ 10%

~ 90%

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Strengthening Route to MarketDeveloping quality distributors for now and for the future

Nearly 90% of VBL volume through distributors

Current strong performance means that VBL and distributors are aligned and working very well together. This also enables us to work with the best distributors

Increasing volume per distributor

Higher direct delivery ratio for direct volume

2009 2015

x 2.3

2009 2015

+ 23 percentage points

Source: Company data

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Strengthening Route to Market

Source: Company data

Leading in the beer category in the fast developing modern trade

Capturing share in modern trade in Vietnam, especially in convenience stores

Establishing category captainship for key accounts

Minimising any downside of channelconflict with distributors

CVS

2013 2015

CAGR +26%

Volume Performance

Modern trade customer development

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AgendaPassion for Commercial Excellence

Consumer and market structure

Commercial strategy to win

Summary

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SummaryPassion for Commercial Excellence

Consumer behaviour and preferences are changing with a need to satisfy new trends and demands

VBL has a commercial and targeted strategy to win in this new evolving marketplace

Confident in ability to reignite Heineken®, fuel further growth momentum in Tiger, and through Larue to secure broad portfolio leadership

Strong agenda and pipeline to lead market innovation

Targeting excellent outlet execution through EOE

Clear strategy to strengthen Route to Market and relationships with distributors