Diageo Results Presentation Deck

Consistent and disciplined approach to capital allocation Leverage ratio policy Adjusted net debt¹ to adjusted EBITDA: 2.5x - 3.0x DIAGEO 29 | Interim Results Fiscal 24 Organic growth Dividends 1.8x to 2.2x dividend cover M&A and portfolio management Return excess cash to shareholders Source: Diageo 1. Net debt is equivalent to net borrowings. Adjusted net debt includes net debt and post-employment plan benefit liabilities

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