Anadolu Efes (AEFES) investor relations material

Accounting standards and consolidation changes

• Financials for FY2025 are presented under Turkish Accounting Standard 29 (TAS29) for hyperinflationary economies, with retrospective adjustments for prior periods to ensure comparability.

• Certain financial metrics are also shown without inflation adjustment for analytical purposes, but these are unaudited.

• As of January 1, 2025, Russian beer operations were excluded from consolidation and are now accounted for as a financial investment, impacting comparability with prior years.

Business overview and operations

• Operates in 8 sectors with over 100,000 employees and production facilities spanning more than 100 countries.

• Recognized as the 10th largest brewer globally and 5th in Europe, with strong international sales and partnerships with major global brands.

• Beer operations span Türkiye, Moldova, Kazakhstan, Georgia, and Ukraine, with 10 breweries, 2 malteries, and exports to 70 countries.

• Soft drinks operations cover over 600 million people, with 36 bottling plants and strong #1 or #2 market positions.

Strategic priorities and growth

• Focus areas include talent acquisition, digitalization, consumer-centric brand portfolio, and operational efficiency.

• Growth strategies emphasize premiumization, supply chain transformation, digital acceleration, and expansion into new geographies and categories.

• Financial discipline is maintained through cash, debt, and risk management, with a target Net Debt/EBITDA of 1.0x–2.0x.