Guinness Investor & Analyst Event

A deep-dive into the iconic Guinness brand

On 20th May 2025, Debra Crew, Chief Executive and Nik Jhangiani, Chief Financial Officer, along with members of the Diageo Executive Committee and other leaders hosted investors and analysts in St James Gate, Dublin, the home of Guinness. During the event, we showcased the iconic brand and reinforced our commitment to Guinness as a key part of our portfolio.

They covered how we have successfully evolved our strategy to drive growth and why we believe we have a strong runway for recruiting new consumers, leveraging digital and driving innovation, including the significant opportunity we have with Guinness 0.0.

"Guinness is an iconic brand, built on a history of strong heritage and exceptional quality credentials. It is a jewel in the Diageo portfolio. The success in recent years reflects the strategic evolution which has driven strong recruitment, supported by breakthrough innovation and best in class marketing. I am excited about the opportunities ahead."

Debra Crew, Chief Executive

Session one: Building and evolving the iconic Guinness brand

Debra Crew, Chief Executive, shares how we have we have successfully evolved our Guinness strategy to drive growth and Grainne Wafer, Global Director (Guinness, Liqueurs, Vodka and RTD), looks at how we have built and will continue to build the Guinness Brand.

Guinness has delivered 8 consecutive halves of double-digit growth

51 %

Over 3 years short term gross profit ROI has grown by 51%

Guinness is our third largest brand

Debra Crew, Chief Executive

Debra discusses Guinness's well-established quality, heritage and marketing and the strategic shifts we have taken to deliver strong growth and consumer recruitment. Debra highlights opportunities that Guinness has for continued momentum and its importance in Diageo. Debra also talks to Diageo’s broader portfolio and the current industry context.

Introduction Presentation script

Grainne Wafer, Global Brand Director, Guinness, Liqueurs, Vodka and RTD

Grainne shares the recent journey of the iconic, distinctive brand that is Guinness. Setting up the fundamentals of great Diageo brand building, she brings to life how Guinness has evolved for the changing consumer environment, while still staying true to its established credentials.

Continuing to build the iconic Guinness brand Presentation script

Session two: Market deep dives

Barry O’Sullivan, Managing Director (Ireland), Nuno Teles, Managing Director (Great Britain), and Laura Merritt (President, North America Diageo Beer Company & Convenience) take us on a world tour of Guinness showcasing how we have successfully grown Guinness in our three largest markets: Ireland, GB and the U.S.

1 in 3

In Ireland, Guinness accounts for 1 in every 3 pints sold in the on-trade

# 1

In GB, Guinness is the #1 beer and #1 non-alc beer brand in total trade

4 %

In US, Guinness has outperformed the U.S. beer category with a 4% organic Net Sales CAGR from fiscal 2019 to fiscal 2024

Barry O’Sullivan, Managing Director, Ireland

Barry discusses Ireland, the home of Guinness, and how the market has shepherded the iconic Guinness brand and driven recruitment through the brand’s rich history and heritage, elevating Guinness through music and Irish culture, strengthened relationships with Irish pubs, and pioneered innovation to become the #1 beer brand in summer and winter.

Ireland The Home of Guinness Presentation script

Nuno Teles, Managing Director, GB

Nuno takes us through Guinness’ journey to become the #1 beer in Great Britain; achieved by partnering with pubs in the on-trade, recruiting new consumers through inclusive marketing and activation across regions, and expanding occasions year-round through sports sponsorship and moderation.

Great Britain The UK’s Favourite Pint Presentation script

Laura Merritt, President, North America Diageo Beer Company and Convenience

Laura covers Guinness's performance in the US, highlighting our success in building the brand in the market, expanding recruitment through culture, expanding into new occasions through year-round marketing with summer, sports, and holidays, and growing innovation and the exciting opportunity ahead.

The US The Next Frontier Presentation script

Session three: Route-to-consumer and supply chain

Dayalan Nayager, President, Europe, and Chief Commercial Officer discusses how our global distribution footprint is supporting the long-term future growth of Guinness. Ewan Andrew, Chief Global Supply Chain and Procurement & Chief Sustainability Officer, shares how we’re actively managing our Guinness supply chain and scaling capacity to meet future demand.

284

284 quality checks on every Guinness batch before leaving the brewery

+ 8 %

Increased capacity at St. James’s Gate by 8% over the last 3 years

> 100

Strong network of >100 partners providing diversification and global reach

Dayalan Nayager, President, Europe & Chief Commercial Officer

Dayalan explains how Diageo has strategically shaped its global distribution footprint to support the long-term sustainable future growth of Guinness. Diageo has optimised its route-to-consumer and expanding and accelerating into existing and new markets efficiently, all enabled by Guinness’s brand strength and our flexible route-to-consumer.

Optimising our global route-to-consumer Presentation script

Ewan Andrew, President, Global Supply Chain & Procurement & Chief Sustainability Officer

Ewan outlines the Guinness supply chain footprint and how we’re optimising it for growth through strategic investment. He highlights improvements in manufacturing efficiency, smart capacity expansion, and supported by our commitment to sustainability across the entire supply chain.

An efficient and resilient supply chain, fit for future growth Presentation script

Q&A session

Q&A session with Grainne, Barry, Nuno, Laura, Dayalan and Ewan moderated by Sonya Ghobrial, Global Head of Investor Relations

Q&A transcript

Session four: Guinness wrap-up and update on the first phase of our Accelerate programme

Nik Jhangiani, Chief Financial Officer covers Guinness financial highlights and discusses the first phase of our Accelerate programme. Debra concludes the day with key messages.

15%

Guinness has grown +15% CAGR (F22 to F25 expected)

$ 3 bn

Expect to sustainably deliver c. $3bn free cash flow per annum from fiscal 26, increasing as performance improves

$ 500 m

$500m cost savings programme, which will enable both reinvestment in future growth and improved operating leverage

Nik Jhangiani, Chief Financial Officer

Nik summarises Guinness’s strong performance, and the exciting runway of potential growth opportunities. He also shares more insight behind the first phase of the Accelerate programme.

Guinness wrap-up and update on reshaped priorities Presentation script

Debra Crew, Chief Executive

Debra concludes the day with an update on Diageo's evolving culture and our key messages, highlighting how we have a strong runway for continued Guinness growth.

Closing remarks and reflections Presentation script