hl growth. Our volumes outperformed the industry in both beer and Beyond Beer according to our estimates, declining by low-single digits. Our beer performance was led by Michelob Ultra, Busch and Corona which were three of the top five volume share gainers in the industry. In Beyond Beer, our market share gains were led by Cutwater and Mike’s Hard Lemonade.

Peru:Revenue grew by mid-single digits in 3Q25 with mid-single digit revenue per hl growth, driven by revenue management initiatives. Volumes grew by low-single digits, with our performance led by our above core beer and non-beer portfolios which both grew volumes in the teens.

Ecuador:Revenue grew by low-teens in 3Q25 with volumes increasing by high-single digits, cycling a soft industry in 3Q24. Growth was led by our above core beer brands which increased volume by strong double-digits.

Argentina:Volume declined by low-single digits in 3Q25, as overall consumer demand continued to be impac
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