The Heineken ownership structure and stock exchange listing

Heineken N.V.
Heineken Holding N.V. holds a 50.005% interest in Heineken N.V.
FEMSA holds a 7.47% interest in Heineken N.V.
Free float interest in Heineken N.V. represents 42.53%.

Heineken Holding N.V.
L’Arche Green N.V., which is owned by the Heineken family for 88.42% and by Greenfee B.V. for 11.58%, holds a 50.005% interest in Heineken Holding N.V.
FEMSA holds a 14.94% interest in Heineken Holding N.V.
Free float in Heineken Holding N.V. represents 35.06%.

Since its formation in 1952, Heineken Holding N.V.’s objective - pursuant to its Articles of Association - has been to manage or supervise the Heineken group and to provide services for Heineken N.V.

The role Heineken Holding N.V. has performed for the Heineken group since 1952 has been to safeguard its continuity, independence and stability and create conditions for controlled, steady growth of the Heineken group’s activities. The stability provided by this structure has enabled the Heineken group to rise to its present position as the brewer with the widest international presence and one of the world’s largest brewing groups and to remain independent.

The shares of both Heineken Holding N.V. and Heineken N.V. are listed on Euronext Amsterdam. Options of Heineken N.V. shares are traded on the Euronext.Liffe options exchange.

Every Heineken N.V. share held by Heineken Holding N.V. is matched by one share issued by Heineken Holding. The net asset value of one Heineken Holding N.V. share is therefore identical to the net asset value of one Heineken N.V. share. The dividend payable on the two shares is also identical. However, historically, Heineken Holding N.V. shares have traded at a lower price due to technical factors that are market-specific.

Attached an illustration of the ownership structure.

May 2010