Notes to the Consolidated Financial Statements continued Reportofthe Reportofthe Financial Other Contents Overview Executive Board Supervisory Board Statements Information Financing headroom1 As at 31 December 2015, no amounts were drawn on the existing revolving credit facility of EUR2.500 million. This revolving credit facility was extended by one year and matures now in 2020. The committed financing headroom at Group level was EUR2.333 million as at 31 December 2015 and consisted of an undrawn revolving credit facility and centrally available cash, minus commercial paper in issue at Group level. Incurrence covenant1 HEINEKEN has an incurrence covenant in some of its financing facilities. This incurrence covenant is calculated by dividing net debt (excluding the market value of cross-currency interest rate swaps) by EBITDA (beia) (both based on proportional consolidation of joint ventures and including acguisitions made in 2015onapro-formabasis).Asat 31 December 2015 this ratio was 2 A (2014:2.4). If the ratio would be beyond a level of 3.5, the incurrence covenant would prevent HEINEKEN from conducting further significant debt financed acguisitions. 1 Non-GAAP measures: unaudited 26. Finance lease liabilities Finance lease liabilities are payable as follows: In millions of EUR Present Future value of minimum minimum lease lease payments Interest payments 2015 2015 2015 Present Future value of minimum minimum lease lease payments Interest payments 2014 2014 2014 Less than one year LD I LD LD I LD Between one and five years 9-9 8-8 More than five years 1 - 1 2-2 15 - 15 LD I LD 27. Non-GAAP measures In the internal management reports, HEINEKEN measures its performance primarily based on EBIT and EBIT beia (before exceptional items and amortisation of acguisition-related intangible assets). Both are non-GAAP measures not calculated in accordance with IFRS. Exceptional items are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant to explain the performance of HEINEKEN for the period. Beia adjustments are also applied on operating profit and net profit metrics. The table below presents the relationship between IFRS measures, being results from operating activities and net profit, and HEINEKEN non-GAAP measures, being EBIT, EBIT (beia), operating profit (beia) and net profit (beia). In millions of EUR 20151 Results from operating activities 3,075 2,780 Share of profit of associates and joint ventures and impairments thereof (net of income tax) 172 148 EBIT 3,247 2,928 Exceptional items and amortisation of acquisition-related intangible assets included in EBIT 311 340 EBIT (beia) 3,558 3,268 Share of profit of associates and joint ventures and impairments thereof (beia) (net of income tax) (177) (139) Operating profit (beia) 3,381 3,129 Profit attributable to equity holders of the Company (net profit) 1,892 1,516 Exceptional items and amortisation of acquisition-related intangible assets included in EBIT 311 (18) (124) (13) 340 Exceptional items included in finance costs (1) Exceptional items included in income tax expense (52) Exceptional items included in non-controlling interest (45) Net profit (beia) 2,048 1,758 1 Unaudited. 107 Heineken N.V. Annual Report 2015

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2015 | | pagina 108