HEINEKEN’s net obligation in respect of long-term employee benefits, other than pension plans, is the amount of future benefit that employees
have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value, and the fair
value of any related assets is deducted. The discount rate is the yield at balance sheet date on high-quality credit-rated bonds that have
maturity dates approximating to the terms of HEINEKEN’s obligations. The obligation is calculated using the projected unit credit method.
Any actuarial gains and losses are recognised in other comprehensive income in the period in which they arise.