Heineken Holding N.V.

Shareholders of Heineken Holding N.V.

Heineken Holding N.V. is a company listed on Euronext Amsterdam, so its shareholder base is not published in full. Under the Dutch Financial Supervision Act (Wet op het financieel toezicht) only interests of 3% or more in issued capital or voting rights must be notified to the Netherlands Authority for the Financial Markets (AFM). The company itself discloses, as at 31 December 2025, that L’Arche Green N.V. held 53.171% of its issued share capital (2024: 53.171%) and that Mrs C.L. de Carvalho-Heineken held a further 0.03% directly.

The standing AFM substantial-holding notifications recorded against Heineken Holding N.V. (KvK 33078624) are:

Lindsell Train Limited last notified 2.94% on 14 December 2023, a crossing below the 3% threshold, and is therefore no longer a notifiable holder. Issued capital is 288,030,168 shares of €1.60 nominal value, of which 277,965,831 were outstanding at 31 December 2025 once shares held by Heineken N.V. are excluded; the company puts its free float at approximately 129.7 million shares. AFM notifications are event-driven snapshots taken on the date a threshold was crossed, and Heineken Holding N.V. states in its Annual Report 2025 that the AFM register is no longer up to date and refers readers to its own year-end ownership chart.

Ultimate beneficial ownership

The notes to Heineken Holding N.V.’s audited 2025 financial statements state that the company’s ultimate controlling party is C.L. de Carvalho-Heineken. The interest is almost entirely indirect: the AFM notification of 20 April 2018 records 0.03% held directly and 52.60% held indirectly through L’Arche Green N.V., L’Arche Holding B.V. and Stichting Administratiekantoor Priores, 52.63% in total of both capital and voting rights. That is well above the 25% indicative threshold applied under the Dutch Wwft.

A second, family-level chain can be traced from a single consistent date. At 31 December 2025 the Heineken family held 88.98% of the issued share capital of L’Arche Green N.V., and L’Arche Green N.V. held 53.171% of Heineken Holding N.V. Multiplying through that chain gives the Heineken family a calculated effective ownership percentage of 47.31% in Heineken Holding N.V. On the same basis the Hoyer family’s 11.02% of L’Arche Green N.V. equates to a calculated effective 5.86%. Both are calculated effective percentages for a family group rather than for a named individual: the company does not publish how those family holdings are divided between individual members, so no further individual percentage can be derived, and the 52.63% above is the only individual figure recorded in a filing.

Data availability

Major shareholders only. The Netherlands does not maintain a public share register for a naamloze vennootschap and its UBO register is not open to public inspection, so the information above rests on AFM notifications above the 3% threshold and on the issuer’s own audited disclosures; holdings below 3% are not identifiable from public sources.

One baseline data issue should be noted. The shareholder rows carried in the underlying provider data for this profile — Nbc Securities, Inc., Banyan Capital Management, Inc. and Hantz Financial Services, Inc., at between 0.07% and 0.53%, verified 4 September 2026 — are small third-party positions, list the same holder twice in two different currencies, and match no AFM notification. They are not the company’s principal shareholders and have not been used here.

Sources

• Netherlands Authority for the Financial Markets (AFM), Register of substantial holdings and gross short positions, entries for Heineken Holding N.V. (KvK 33078624) — www.afm.nl. Latest relevant notification 11 September 2025; retrieved 24 September 2026.
• Heineken Holding N.V., Annual Report 2025 (ownership, Article 10 EU Takeover Directive Decree disclosure, shareholder information, note 13.3 Related parties, note 13.4 HEINEKEN entities) — heinekenholding.com. Published 11 February 2026; retrieved 24 September 2026.
• Heineken Holding N.V., Our ownership structure — heinekenholding.com. Chart dated April 2026; retrieved 24 September 2026.

Directors and officers of Heineken Holding N.V.

Heineken Holding N.V. has a one-tier board. Its Dutch-language general-meeting record calls this body the Raad van Beheer (Board of Directors); it consists of uitvoerende bestuurders (executive directors), who are charged with day-to-day management, and niet-uitvoerende bestuurders (non-executive directors), who supervise them. The company confirms it has installed no board committees. This is deliberately not the two-tier Dutch model: the separate Raad van Bestuur (Executive Board) and Raad van Commissarissen (Supervisory Board) within HEINEKEN sit at Heineken N.V., a different legal entity. Because Heineken Holding N.V. employs no staff, the board is the only set of officers the entity has, and Dutch law provides for no company secretary as a registrable officer.

Eight directors — two executive and six non-executive — signed the half-year report dated 4 August 2026, the most recent filing to confirm board composition. Nationalities below are reproduced from the explicit nationality column of the company’s Annual Report 2025 and from the 2026 general-meeting agenda; they are not inferred from names or addresses.

The occupations the company reports for its directors are separate from their legal role and are not uniformly “director”: they include chairman of Capital Generation Partners, chair of Vodafone Group Plc and co-founder of Greenwood Place.

Recent officer changes

• Appointment. Mr C.A.G. de Carvalho was appointed a non-executive member of the Board of Directors with effect from 23 April 2026, for a four-year term, under item 10c of the general meeting convened on 12 March 2026.
• Departure. Mr J.F.M.L. van Boxmeer, a non-executive director since 2020, decided to lay down his position; the chair announced his departure at the close of the general meeting on 23 April 2026, and he is not among the eight directors who signed the half-year report of 4 August 2026.
• Reappointments. Mrs A.M. Fentener van Vlissingen (two-year term) and Mrs L.L.H. Brassey (four-year term) were reappointed as non-executive directors with effect from 23 April 2026.

Data availability

Current board composition is fully disclosed in the company’s own filings, including nationality, year of first appointment and reappointment terms. The free KvK Handelsregister search could not be queried programmatically on 24 September 2026 — it returns a client-side application rather than register data — so the Handelsregister’s own recorded appointment dates and powers of representation could not be cross-checked; the dates above are those stated in the company’s filings. Precise day-level appointment dates before 2026 are not published, only the year.

The baseline officer data behind this profile contains errors and has not been relied on. It records “Director of Global Communication”, “Global Corporate & Financial Communications Manager” and “Director of Investor Relations” as officer roles; these are job titles within the HEINEKEN organisation, not board positions at Heineken Holding N.V., which has no employees. It also carries the same person twice, as “C.L. Carvalho-Heineken” and “Charlene Lucille De Carvalho-heineken”, and holds no appointment or resignation dates at all.

Sources

• Heineken Holding N.V., Annual Report 2025, Board of Directors and Corporate Governance Statement — heinekenholding.com. Published 11 February 2026; retrieved 24 September 2026.
• Heineken Holding N.V., Agenda and explanatory notes, Annual General Meeting 2026 — heinekenholding.com. Published 12 March 2026; retrieved 24 September 2026.
• Heineken Holding N.V., Summary of the Annual General Meeting held on 23 April 2026 — heinekenholding.com. Published 1 July 2026; retrieved 24 September 2026.
• Heineken Holding N.V., 2026 Half Year Results and interim financial report, signed by the Board of Directors, Amsterdam, 4 August 2026 — heinekenholding.com. Published 5 August 2026; retrieved 24 September 2026.

Group structure of Heineken Holding N.V.

Heineken Holding N.V. is not independent, and it is also not an ordinary intermediate holding company: it stands at the head of the HEINEKEN group while itself being controlled from above. Its immediate parent is L’Arche Green N.V., a Dutch company that held 53.171% of Heineken Holding N.V.’s issued share capital at 31 December 2025 and is the highest corporate entity identified in the chain above it. Beneficial ownership above that level is dealt with in the shareholder section of this profile.

Downwards, Heineken Holding N.V. has exactly one participating interest. Its audited 2025 company balance sheet shows a single financial fixed asset, the participating interest in Heineken N.V. (KvK 33011433), carried at €8,587 million, and the company states that its only activities are holding that interest, managing or supervising the management of HEINEKEN, and providing services to Heineken N.V. It holds 50.005% of the issued share capital of Heineken N.V., equal to 50.521% of outstanding capital at 30 June 2026 (50.494% at 31 December 2025). Every other company in the HEINEKEN group is therefore an indirect holding of Heineken Holding N.V., held through Heineken N.V. Heineken N.V. listed 17 significant subsidiaries at 31 December 2025, incorporated in 15 countries across Europe, the Americas, Africa and Asia and together representing approximately €20 billion of revenue and €35 billion of assets.

Verified corporate relationships

The percentages in the indirect rows are the interests held by Heineken N.V., not by Heineken Holding N.V. Where both links carry the same date an effective interest can be calculated: for Nigerian Breweries Plc., 50.005% × 72.9% gives Heineken Holding N.V. a calculated effective ownership percentage of 36.45% at 31 December 2025. All percentages stated are share capital, and Heineken N.V. reports that the proportion of ownership interests it holds in these subsidiaries equals the proportion of voting rights.

Recent structural changes

• Heineken N.V.’s share buyback programme changed the denominator rather than the holding: Heineken Holding N.V.’s interest in Heineken N.V.’s issued share capital remained 50.005%, while its interest in outstanding capital moved from 50.966% at 31 December 2024 to 50.494% at 31 December 2025 and 50.521% at 30 June 2026.
• Cervejaria HNK BR LTDA. became the successor in law of CKBR Bebidas Ltda in November 2025 and is the Brazilian entity named in the 2025 significant-subsidiary list.
• The 2025 financial statements record that there were no significant changes to the HEINEKEN structure and ownership interests during the year.

Data availability

Partial. The relationships immediately above and below Heineken Holding N.V. are fully documented in its audited annual accounts, as is a named list of the group’s significant subsidiaries with percentages; the complete HEINEKEN subsidiary list, and registration numbers for entities other than the two Dutch listed companies, are not published in these sources.

Two errors in the baseline corporate-linkage data for this profile should be flagged rather than repeated. First, that data attaches eight entities directly to Heineken Holding N.V., including HEINEKEN JAPAN K.K., Cervecerias Baru-Panama, S.A., Antilliaanse Brouwerij N.V., Grupo Cuauhtemoc Moctezuma, S.A. de C.V., Heineken Mexico Holding, S.A. de C.V., Controladora de Negocios Comerciales, S.A. de C.V. and Candrian Hotels AG. The audited accounts show that Heineken Holding N.V.’s only participating interest is in Heineken N.V., so any such holdings are indirect, held through Heineken N.V., and not direct subsidiaries of Heineken Holding N.V. Second, the identifier shown for Heineken N.V. in that tree, “#0513602868”, is not a Dutch Chamber of Commerce number; Heineken N.V.’s KvK number is 33011433.

Sources

• Heineken Holding N.V., Annual Report 2025 — company balance sheet, note 13.4 HEINEKEN entities and the list of significant subsidiaries of Heineken N.V. at 31 December 2025 — heinekenholding.com. Published 11 February 2026; retrieved 24 September 2026.
• Heineken Holding N.V., 2026 Half Year Results, report of the Board of Directors — heinekenholding.com. Published 5 August 2026; retrieved 24 September 2026.
• Netherlands Authority for the Financial Markets (AFM), Register of substantial holdings and gross short positions, confirming Heineken N.V.’s Chamber of Commerce number 33011433 and Heineken Holding N.V.’s 33078624 — www.afm.nl. Retrieved 24 September 2026.
• Euronext Amsterdam, HEINEKEN HOLDING N.V., ISIN NL0000008977 — live.euronext.com. Retrieved 24 September 2026.