ArQalitwa he HEINEKEN company PRESS RELEASE Bralinwa Pic reports 2023 First Half Year Results Kigali, 31% July 2023 ~ Bralinwa Plc. announces today its unaudited financial results for the period ended 30 June 2023. Highlights include: = Revenue increased by 17.5% driven by appropriate pricing to offset inflation in 2023. The volume decreased slightly by 2% due to slowdown of soft drinks growth in the first half of 2023, Results from operating activities mainly driven by top line growth and other income partially offset by: + Increased cost of sales (18.4 % vs. LY) due to higher cost of inputs (raw and packaging materials) in line with global inflationary and commodity trends. * Higher selling and distribution costs (20.1 % vs LY) driven by higher cost of transportation, as well as higher commercial expenses to drive outlet visibility. ‘© Higher administrative costs (12.5% vs LY) driven by staff recruitments and adjustment of staff salaries to mitigate inflation + Net finance costs increased by 57.8 % mainly driven by foreign exchange cost following the Rwandan franc depreciation against the euro and dollar + Income tax expense increased by 20.6 % mainly driven by high Profit Before Tax vs last Year + Bralirwo’s operating resut increased to Rwf 23 bilion (HY1 2022: Rwf 20 billion) resulting from topline performance and effective cost management. Profit and total comprehensive income for the fist half ‘year of 2023 grew by 3.5 % to Ruf 12.9 billion (HY 2022: Rwf 12.5 blon). Etienne Sada, Vice Chairman of the Board and Managing Director of Bralirwa Plc. commented: Bralirwa’s operating result increased to Rwf 23 billion (HY1 2022: Rwf 20 billion) as a result of top-line growth and efficient cost management. Profit and total comprehensive income increased by 3.5% to Rwf 12.9 billion in the first half of 2023 (RwF 12.5 billion in HY 2022) Outlook 2023 In the coming year, African economies are projected to be impacted by ongoing uncertainty and resulting volatility in the global economy, particularly in input costs. Our goal for 2023 is to increase top-line, margin, and profit growth in order to consistently outperform in the Rwandan market as well as the larger African Region. This will be accomplished by planned growth in HY2 volume and value, as well as cost management. However, input costs continue to be a macroeconomic concern, with implications for the economy and our business. About Bralirwa Plc, Bralirwa Plc is a world-class sustainable beverage company in Rwanda. It is the market leader in premium and non-alcoholic brand manufacturing and distribution. Founded in 1957, Bralirwa Pic has been part of the HEINEKEN Group since 1971. Our values are what we stand for. Passion for consumers and customers, Courage to dream and pioneer, Care for people and planet and Enjoyment of life. With a portfolio of more than 17 international and local beers and beverages, we ignite the moments that bring people together and create unforgettable bonds. Bralirwa has been dedicated to making a positive difference in Rwanda for over 66 years. We recognize that we can only thrive if ail our people, communities, and planet thrive as well. As a socially responsible company, we always support a wide range of projects, from the environment to stakeholder relationships, to name a few. /e 4g BRALIRWA Plc | Trade Register G 001 | VAT No, 100004348 | wi bralirwa.co.w | bralinva@heineken,com Kigali (Head Office) KK 500 Street | P.O. Box 131 Tol. 4250786000102 | Gisonyl (Brewery) P.O. Box 180 | Tal. +250786090104Prealinva : ty parr oF THe "HEINEKEN courany To remain @ pioneer in the market, we strive for the highest quality while maintaining the trust of our customers and partners. Our goal is to shape the future of beer and win the hearts of consumers. We are committed to long-term brand investment, disciplined sales execution, and operational efficiencies, Statement of Profit or Loss and other comprehensive income Sales volume 1107 1.130 (20%) Revenue 85714 72,934 175% Cost of sales (47.675) (40,262) 18.4% Gross profit 38039 32,672 16.4% | Other income 531 0s (12.486) Selling and distribution expenses. (8750) (7285) 201% Administrative expenses (6710) (5967) 125% Other operating expenses cr) 00% Results from operating activities 23013 20026 149% Finance costs (6239) (2.687) 57.8% Net finance cost (4239) (2,687) 57.8% Profit before income tox 18774 17339 83% Income tax expense (5875) (4873) 206% Profit after tax 12899 12,46 35% Other Comprehensive income 0.0% Profit and total comprehensive income for the year 12899 12,466 35% Attributable to: Equity holders ofthe parent 9674 93349 3.5% Equity ctributable to other shareholders 3225 3,116 35% 12899 12.465 35% Earnings per share (basic and diluted) - RwF 12:54 1212 3.5% BRALIRWA Pic | Trade Rogistr G 001 | VAT No. 100004348 | www. bralirwa.co.rw | bralinva@heineken.com Kigali (Head Office) KK 500 Stret | P.O. Box 131 Tel. +250786000102 | Gisenyi (Brewery) P.O. Box 180 | Tel. 1250786090104