I f\J Annual Report 2016
Report of the Report of the Financial Sustainability
Introduction Executive Board Supervisory Board Statements Review
This Annual Report contains forward-looking statements with regard to the financial position and results of HEINEKEN's activities. These forward-
looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-
looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN's ability to control or estimate precisely, such
as future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully
integrate acquired businesses and achieve anticipated synergies, costs of raw materials, interest rate and foreign exchange fluctuations, changes
in tax rates, changes in law, changes in pension costs, the actions of government regulators and weather conditions. These and other risk factors
are detailed in this Annual Report.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report.
HEINEKEN does not undertake any obligation to update the forward-looking statements contained in this Annual Report. Market share estimates
contained in this Annual Report are based on outside sources, such as specialised research institutes, in combination with management estimates.