SHAH ALAM, 11 June 2026 – Carlsberg Brewery Malaysia Berhad (“the Company”) has been upgraded from ‘AA’ to ‘AAA’ by MSCI ESG Ratings in March 2026, placing it within the highest rating band under MSCI’s assessment and among top‑tier performers in managing financially material environmental, social and governance (ESG) risks and opportunities relative to industry peers.

The upgrade reflects broad-based improvements across the Company’s ESG performance, with environmental performance remaining a key driver. The overall environment score improved to 8.0 (from 7.5 in 2025), led by stronger packaging material and waste management performance, which rose to 9.0 (from 8.6 in 2025), alongside steady gains in carbon footprint (7.8 vs 7.3 vs 6.8 in 2025), supported by enhancements in operational efficiency through ongoing brewery transformation initiatives. 

The Company also recorded its most significant uplift in the social pillar, which increased to 6.3 (from 3.8 in 2025), reflecting improvements in product safety and quality (6.5 vs 4.0 in 2025) as well as health and safety practices (6.0 vs 3.4 in 2025), alongside updates to MSCI’s assessment methodology and indicators. 

“This MSCI AAA rating is a strong endorsement of our discipline in managing the ESG matters most relevant to our business sustainability,” said Stefano Clini, Managing Director of Carlsberg Malaysia. “It reflects years of consistent effort to strengthen governance, improve operational practices and enhance the quality of our ESG disclosures – not as an end in itself, but as part of building a resilient and future-proof business over the long term.”

Carlsberg Malaysia is the only brewer in Malaysia with an MSCI ESG Rating of ‘AAA’, among 27 constituents in the local market, and is classified as a Leader among 72 companies in the beverages industry. The upgrade reflects sustained improvements since the Company achieved an ‘AA’ rating in August 2021.

MSCI ESG Ratings are a widely used benchmark among global investors, assessing how well companies manage financially relevant ESG risks and opportunities relative to their industry peers. Companies are rated on a scale from AAA to CCC based on their resilience in managing these risks.

Achieves FTSE4GBMI Four-star ESG Grading

The Company is also among 26 companies in the Consumer Products & Services category to have achieved a four‑star ESG rating under the FTSE4Good Bursa Malaysia Index in 2025, developed by FTSE Russell. The assessment reflects continued strength in governance and social practices, including full scores of 5 out of 5 for both corporate governance and human rights and community, alongside improved performance in environmental supply chain, which increased to 4 from 2 (in 2025). The index is widely used by investors to evaluate companies’ ESG performance and risk management.

These outcomes are supported by strengthened governance, human rights and responsible sourcing practices, including the adoption of internationally recognised standards such as ISO 37001:2025 for anti‑bribery management, alongside continued efforts to embed human rights and environmental standards across the value chain.

In addition, the Company published its FY25 Integrated Annual Report on 31 March 2026, marking its first year of alignment with the National Sustainability Reporting Framework (NSRF) and adoption of International Sustainability Standards Board (ISSB) standards, including IFRS S1 and IFRS S2. The adoption enhances the consistency and reliability of sustainability and climate‑related reporting, reinforcing the Company’s governance and disclosure discipline.

Moving forward, the Company will continue to strengthen its disclosures and operational practices under its Brewing Tomorrow ESG programme, embedding sustainability into decision-making and driving continuous improvement in line with evolving standards and stakeholder expectations to support long-term value creation.