ces portfolio of low carb, sugar free, gluten free and no- and low-alcohol beer brands delivered a revenue increase of 2.7%. Growth was led by our no-alcohol beer portfolio which delivered a 34% revenue increase and is estimated to have gained share of no-alcohol beer across our footprint, led by Corona Cero which grew volume by triple-digits.

Premiumization:Our above core beer portfolio delivered a 1.8% revenue increase. Corona led our performance, increasing revenue by 11.2% outside of Mexico with double-digit volume growth in more than 30 markets.

Beyond Beer:Growth of our Beyond Beer portfolio accelerated in 1Q25, increasing revenue by 16.6%, led by double-digit growth of Cutwater and Nütrl in the US and Beats in Brazil.


(2) Digitize and monetize our ecosystem


Digitizing our relationships with more than 6 million customers globally:As of 31 March 2025, BEES was live in 28 markets with 72% of our revenues captured through
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