ion, and expanding our in-home channel presence. In 1Q26, we increased sales and marketing investments to activate the Chinese New Year campaign for Budweiser and we launched Harbin 1900, a 100% pure malt classic lager innovation, to increase our participation in the fast growing core plus segment.


Highlights from our other markets


Canada:Revenue was flat with low-single digit revenue per hl growth. Volumes declined by low-single digits, with beer performance estimated to be in-line with a soft industry while we outperformed a growing Beyond Beer segment. Our beer performance was led by Michelob Ultra and Busch which were the top two volume share gainers in the industry. Beyond Beer growth was led by Cutwater and Mike’s Hard Lemonade which were two of the top three share gainers in the category.

Peru:Volumes grew by high-single digits to reach a record high for the first quarter. Performance was led by our mainstream beer brands, which
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