Kies jouw taal

A word from our CEO

Dear colleagues, customers, partners,

Duvel Moortgat is a family brewery. That means we do not think in quarters, but in
generations. The water, barley and hops that make our beers what they are should be
preserved. That is why sustainability is not a trend or an add-on for Duvel Moortgat. It is
essential to safeguard the future of our company and our planet.

In the last couple of years, we translated that conviction into a clear roadmap for the
future: Brewing for tomorrow. We took a close look at where we have the greatest impact
and where the most important risks and opportunities lie for our business. The insights
we gained now guide our ambitions, targets and actions across environmental, social
and governance topics.

Sustainability has been an important focus for Duvel Moortgat for many years. In 2025,
we took several important steps forward. I am particularly proud that our climate targets
were validated by the Science Based Targets initiative (SBTi), making us the first Belgian
family brewery to achieve this milestone. We also expanded our renewable energy
capacity, commissioned three advanced CO₂ recovery systems, and continued to make
solid progress in managing and protecting water resources across our breweries.

Another important milestone was the completion of our first Corporate Nature
Assessment. It gave us a better understanding of how our activities interact with nature
and biodiversity, and where we can focus our efforts in the years ahead.
At the same time, we continue to evolve in line with consumer preferences.
More and more people are looking for great-tasting drinks with little or no alcohol.
Today, Duvel Moortgat offers 25 low- and no-alcohol beverages, and sales of this range
grew over 20% in 2025. Our brewers put the same care, expertise and dedication into
these products as they do into every other beer we brew.

People have always been at the heart of Duvel Moortgat. What truly moves me is the
commitment and energy I see across our teams, from Belgium to China and beyond.
We continue to invest in safety, well-being and talent development, because healthy,
engaged and talented colleagues are the foundation of long-term success. We also
remain committed to supporting the communities around our breweries and offices.
Of course, the road ahead is not without challenges. The transition to a more sustainable
future requires continuous effort, investment and collaboration. This report reflects both
the progress we have made and the work that still lies ahead.

Good governance helps us stay on course. In 2025, we further strengthened our Codes
of Conduct and continued aligning our reporting with evolving ESRS requirements. Our
governance structure ensures that environmental and social considerations are part of
the decisions we make and that our progress is measured and reported transparently.

Our direction is clear. We are committed to reaching net zero, protecting the natural
resources our brewing depends on and creating lasting value for our people and
communities. The fifth generation of our family, together with the many talented
colleagues around the world and our customers who place their trust in us every day,
inspires us to keep moving forward.

Thank you for being part of this journey.

Michel Moortgat
CEO