Manila, 13 October 2020 – Asia Brewery Incorporated (Asia Brewery) and HEINEKEN announced today that they have agreed to transition the AB HEINEKEN Philippines Inc. joint venture to a new partnership structure to produce and distribute HEINEKEN beer brands Heineken® and Tiger® in the Philippines. HEINEKEN will establish a sales and marketing office based in Manila and will engage Asia Brewery to brew and distribute its beers in the country. The expected date for the completion of the process is 31 December 2020.

The immediate priority for Asia Brewery and HEINEKEN is to ensure a smooth transition for the employees of AB HEINEKEN Philippines and continuity for its customers and suppliers.

The Philippines continues to present a good long-term business opportunity for HEINEKEN and both Asia Brewery and HEINEKEN remain committed to continue offering Heineken® and Tiger® beer to consumers in the country.