Amsterdam, 20 April 2016 - Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) today announces its trading update for the first quarter of 2016.

KEY HIGHLIGHTS
Consolidated beer volume grew 7.0% organically, positive across all regions
Heineken® volume in the premium segment grew 4.8%

The first quarter is seasonally less significant in terms of both volume and profit to full year HEINEKEN group results.

CEO STATEMENT
Jean-François van Boxmeer, Chairman of the Executive Board & CEO, commented:

"This has been a good first quarter supported by a strong Vietnamese and Chinese New Year period and the earlier timing of Easter. There was good volume growth in Americas and Europe. In Africa Middle East & Eastern Europe, volume growth reflected easier comparatives in Nigeria, and the region remains challenging. Our full year expectations remain unchanged. Adverse currency development continues to weigh on results and foreign exchange markets remain volatile."

FIRST QUARTER VOLUME BREAKDOWN
Key figures1
(in mhl or %)
1Q16 Totalgrowth % Organic growth % 1Q15

Consolidated beer volume

Heineken N.V. 43.5 11 7.0 39.3
Africa Middle East & Eastern Europe 9.0 12 4.6 8.1
Americas 13.5 9.4 8.2 12.4
Asia Pacific 5.8 31 23 4.4
Europe 15.2 5.2 2.3 14.4

Heineken®
(in mhl or %)
1Q16 Organic growth %
Heineken® in premium segment 7.0 4.8
Africa Middle East & Eastern Europe 1.0 -0.8
Americas 2.3 6.5
Asia Pacific 1.6 5.2
Europe 2.1 5.8


Heineken® volume in the premium segment grew by 4.8%. Key markets contributing to this growth included Brazil, France, Spain, Compañía Cervecerías Unidas S.A. (CCU) markets, Vietnam, Mexico, and the UK.

1 Refer to the Definitions section for an explanation of organic growth.


REGIONAL REVIEW

Africa Middle East & Eastern Europe
Organic consolidated beer volume growth of 4.6% was driven by growth in Nigeria and Ethiopia. Elsewhere in the region, volume was challenging and remains weak, with both affordability and lower tourism continuing to impact performance. Excluding Nigeria, volume would have been down organically for the region.

In Nigeria volume was flattered by an easy comparative given the election in the same period last year; cycling the forthcoming quarters will be more difficult. Underlying trading conditions remain tough and the weaker consumer environment, due to the low global oil price, continues to drive negative brand mix. It is becoming increasingly challenging to obtain hard currency in the market, and the uncertainty regarding a possible devaluation of the Naira continues to impact the business adversely.

In Russia the market remains under pressure, with our volume down mid-single digit.

Americas
Organic consolidated beer volume growth of 8.2% was led by continued growth in Mexico, Brazil, the US and the Caribbean.

In Mexico volume was up double digit and benefited from the earlier timing of Easter, as well as the positive economic backdrop. Tecate Light and Dos Equis continue to perform strongly.

In Brazil volume grew mid-single digit, with strong double digit Heineken® volume growth.

In the US both sales and depletions were positive, outperforming the overall market.

Asia Pacific
Organic consolidated beer volume was up 23%, with double digit volume growth in Vietnam, Indonesia and Cambodia.

In Vietnam strong volume growth reflected the successful Vietnamese New Year campaign and the continued momentum of the Tiger brand.

In China higher sales around the Chinese New Year resulted in volume growth.

In Indonesia volume was up double digit, flattered by the low comparable last year when the market destocked heavily ahead of the minimart regulation change.

Europe
Organic consolidated beer volume growth of 2.3% was helped by mild weather in some countries as well as the earlier timing of Easter.

In Spain, France, the UK, Austria, Poland and Italy volume development was positive.

In the Netherlands volume was down slightly due to less participation in Off Trade pricing promotions.

REPORTED NET PROFIT
Reported net profit in the quarter was €265 million (2015:€579 million). Note that last year the comparative included the exceptional post tax book gain of €379 million from the EMPAQUE sale.

TRANSLATIONAL CURRENCY UPDATE
Assuming spot rates as of 15 April 2016 the calculated negative translational currency impact for 2016 would be approximately €80 million at consolidated operating profit (beia), and €50 million at net profit (beia). Foreign exchange markets remain very volatile.

DEFINITIONS
Organic growth excludes the effect of foreign currency translational effects, consolidation changes, accounting policy changes, exceptional items and amortisation of acquisition-related intangibles.

Heineken N.V. successfully prices €800 million of Notes
Amsterdam, 20 April 2016 - Heineken N.V. today announced that it has successfully placed 10-year Notes with a coupon of 1.0% for a principal amount of €800 million.
The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange.

The proceeds from the Note issuance will be used for general corporate purposes.
Barclays, Citi, Santander and Société Générale acted as book runners and ABN Amro, ANZ, BBVA, Crédit Agricole, MUFG and Rabobank as co-managers.