Diageo Results Presentation Deck

DELIVERING SUSTAINABLE LONG-TERM GROWTH Consistent and disciplined approach to capital allocation Leverage ratio policy Adjusted net debt(i) to adjusted EBITDA: 2.5x - 3.0x DIAGEO 24 | Interims Results Fiscal 22 Organic growth Dividends 1.8x to 2.2x dividend cover M&A and portfolio management Return excess cash to shareholders Source: H1 F22 Diageo internal information (i) Net debt is equivalent to net borrowings. Adjusted net debt includes net debt and post employment plan benefit liabilities

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