0000835403 2025-01-01 2025-12-31 0000835403 deo:EBP001Member 2025-01-01 2025-12-31 0000835403 deo:EBP001Member 2025-12-31 0000835403 deo:EBP001Member 2024-12-31 0000835403 srt:MinimumMember deo:EBP001Member 2025-01-01 2025-12-31 0000835403 srt:MaximumMember deo:EBP001Member 2025-01-01 2025-12-31 0000835403 srt:MinimumMember deo:EBP001Member 2025-12-31 0000835403 srt:MaximumMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember pf0:MutualFundMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember pf0:MutualFundMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember pf0:MutualFundMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember pf0:MutualFundMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember pf0:CommonStockMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember pf0:CommonStockMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember pf0:CommonStockMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember pf0:CommonStockMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember pf0:MoneyMarketFundsMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember pf0:MoneyMarketFundsMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember pf0:MoneyMarketFundsMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember pf0:MoneyMarketFundsMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember deo:EBP001Member 2025-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedPlanInterestInMasterTrustMember deo:EBP001Member 2024-12-31 0000835403 us-gaap-ebp:EmployeeBenefitPlanNonconsolidatedMasterTrustMember deo:EBP001Member 2025-01-01 2025-12-31 0000835403 pf0:FairValueInputsLevel1Member pf0:MutualFundMember deo:EBP001Member 2025-12-31 0000835403 pf0:MutualFundMember deo:EBP001Member 2025-12-31 0000835403 pf0:FairValueInputsLevel1Member pf0:MoneyMarketFundsMember deo:EBP001Member 2025-12-31 0000835403 pf0:MoneyMarketFundsMember deo:EBP001Member 2025-12-31 0000835403 pf0:FairValueInputsLevel1Member pf0:CommonStockMember deo:EBP001Member 2025-12-31 0000835403 pf0:CommonStockMember deo:EBP001Member 2025-12-31 0000835403 pf0:FairValueInputsLevel1Member deo:EBP001Member 2025-12-31 0000835403 pf0:FairValueInputsLevel1Member pf0:MutualFundMember deo:EBP001Member 2024-12-31 0000835403 pf0:MutualFundMember deo:EBP001Member 2024-12-31 0000835403 pf0:FairValueInputsLevel1Member pf0:MoneyMarketFundsMember deo:EBP001Member 2024-12-31 0000835403 pf0:MoneyMarketFundsMember deo:EBP001Member 2024-12-31 0000835403 pf0:FairValueInputsLevel1Member pf0:CommonStockMember deo:EBP001Member 2024-12-31 0000835403 pf0:CommonStockMember deo:EBP001Member 2024-12-31 0000835403 pf0:FairValueInputsLevel1Member deo:EBP001Member 2024-12-31 0000835403 deo:EBP001Member 2024-01-01 2024-12-31 0000835403 Plan's interest in the Master Trust [Member] deo:EBP001Member 2025-01-01 2025-12-31 0000835403 Plan's interest in the Master Trust [Member] deo:EBP001Member 2025-12-31 0000835403 Notes receivable from participants [Member] deo:EBP001Member 2025-01-01 2025-12-31 0000835403 srt:MinimumMember Notes receivable from participants [Member] deo:EBP001Member 2025-01-01 2025-12-31 0000835403 srt:MaximumMember Notes receivable from participants [Member] deo:EBP001Member 2025-01-01 2025-12-31 0000835403 Notes receivable from participants [Member] deo:EBP001Member 2025-12-31 iso4217:USD pure 11-K 11-K 2025-12-31 2025-12-31 DIAGEO PLC DIAGEO PLC 505368161 437783322 2269025 2537494 507637186 440320816 181719 24623155 5219868 75830570 105855312 40433194 282191 40715385 65139927 2176443 440320816 507637186 <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(1)</td><td style="text-align: justify">Plan Description</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The following description of the Diageo North America, Inc. Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.5pt; text-align: justify; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(a)</td><td style="text-align: justify">General</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 1.05in; text-align: justify; text-indent: -0.05pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Plan is a defined contribution plan sponsored by Diageo North America, Inc. (the “Company”, “Diageo” or “Plan Sponsor”). It is intended that the Plan and its underlying trust be qualified and exempt under Sections 401(a) and 501(a) of the Internal Revenue Code of 1986 (the “Code”), as amended from time to time, and meet the requirements of Section 401(k) of the Code. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.55pt; text-align: justify; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(b)</td><td style="text-align: justify">Eligibility</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 1.05in; text-align: justify; text-indent: -0.05pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Employees of the Company, as defined in the Plan document, are immediately eligible to participate as soon as they have attained the age of 21.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.45pt; text-align: justify; text-indent: -26.85pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(c)</td><td style="text-align: justify">Contributions</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.75pt 0pt 1.05in; text-align: justify; text-indent: -0.05pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Participants may contribute annually from 1% up to 50% of their salary either pre-tax, after-tax, or both, as defined in the Plan document, subject to the maximum allowed under the Code. Participants direct the investment of their contribution into various investment options offered by the Plan. The Plan currently offers 3 money market funds, 22 mutual funds and a company stock fund invested in American Depository Receipt (“ADR”) shares of Diageo plc as investment options for participants. The Plan provides for automatic deferrals of 3% for newly eligible employees unless they affirmatively elect not to participate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">All employees who are eligible to contribute under the Plan, and who have attained age 50 or older before the close of the Plan year, are eligible to make catch-up contributions in accordance with Code Section 414(v). Participants may also contribute amounts representing distributions from other qualified retirement plans.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Effective January 1, 2003, the Plan terminated Company contributions. Nonvested Company contributions are used to pay Plan expenses.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.55pt; text-align: justify; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(d)</td><td style="text-align: justify">Participant Accounts</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Each participant’s account is credited with the participant’s contributions, an allocation of the Plan’s investment earnings or losses, and charged with administrative expenses. Allocations are based on participant earnings or account balances, as defined by the Plan document. The participant is entitled to their vested account balance upon termination, death, retirement, or disability under the Company’s Long-Term Disability Plan.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.45pt; text-align: justify; text-indent: -26.85pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(e)</td><td style="text-align: justify">Vesting</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Participants are immediately vested in their contributions plus actual earnings or losses thereon.</p><table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(f)</td><td style="text-align: justify">Notes Receivable from Participants</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to $50,000 less the highest outstanding loan balance in the last 12 months or 50% of their account balance, whichever is less. The number of outstanding loans a participant may have at any time is two. The loans are secured by the balance in the participant’s account and bear interest at rates equal to the Prime Rate published in the Wall Street Journal at the time the loan is originated. Principal and interest are paid ratably through payroll deductions. The loans are payable over a period not to exceed 5 years, or 20 years for loans taken for a primary residence.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.55pt; text-align: justify; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(g)</td><td style="text-align: justify">Payment of Benefits</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Distributions from the Plan are eligible to be paid upon retirement, attainment of age 59½, hardship, termination of employment, death, or disability under the Company’s Long-Term Disability Plan.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If a participant’s account balance is greater than $5,000 and the participant is eligible for retirement or “early retirement” (i.e., age 50 or older with five or more years of service), the participant may leave the account in the Plan until age 73 and then may elect to receive a lump sum distribution, a rollover to another qualified plan (or Individual Retirement Account (“IRA”)), or quarterly or annual installments over a period elected by the participant not to exceed the participant’s life expectancy (or the life expectancy of a designated beneficiary).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If a terminated participant’s account balance is greater than $1,000 but not more than $7,000, the amount will be distributed to the participant as soon as practicable. If the participant does not elect to receive the distribution as a lump sum or a direct rollover to an eligible retirement plan or IRA chosen by the participant, the Plan Sponsor will pay the distribution as a direct rollover to an IRA designated by the Plan Sponsor.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If the participant’s account balance is $1,000 or less, the distribution is made from the Plan in a lump sum cash distribution.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon the death of a participant, the designated beneficiary, or the participant’s estate if no beneficiary is designated, is entitled to 100% of the participant’s account.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(h)</td><td style="text-align: justify">Forfeited Accounts</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 75.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Unallocated forfeitures as of December 31, 2025 and 2024, amounted to $158,576 and $75,528, respectively.</p> 0.01 0.50 3 22 0.03 1000 50000 0.50 P5Y P20Y 5000 1000 7000 1000 1 158576 75528 <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(2)</td><td style="text-align: justify">Summary of Significant Accounting Policies</td></tr></table> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.55pt; text-align: justify; text-indent: -26.6pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(a)</td><td style="text-align: justify">Basis of Accounting</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 75.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The financial statements of the Plan are prepared in compliance with the Department of Labor’s (“DOL”) Rules and Regulations for Reporting and Disclosure under ERISA and under the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.55pt; text-align: justify; text-indent: -26.6pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(b)</td><td style="text-align: justify">Use of Estimates</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 75.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.45pt; text-align: justify; text-indent: -26.5pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(c)</td><td style="text-align: justify">Notes Receivable from Participants</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 1.05in; text-align: justify; text-indent: -0.05pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are reclassified as benefits paid based upon the terms of the Plan document.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.55pt; text-align: justify; text-indent: -26.6pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(d)</td><td style="text-align: justify">Administrative Expenses</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Expenses reasonably incurred in the administration of the Plan are paid by the Plan. Certain costs of establishing and administering the Plan have been paid by the Plan Sponsor and, accordingly, are not included as administrative expenses of the Plan.</p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.45pt; text-align: justify; text-indent: -26.5pt"> </p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(e)</td><td style="text-align: justify">Benefit Payments</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.05in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Benefit payments to participants are recorded when paid.</p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(a)</td><td style="text-align: justify">Basis of Accounting</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The financial statements of the Plan are prepared in compliance with the Department of Labor’s (“DOL”) Rules and Regulations for Reporting and Disclosure under ERISA and under the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(b)</td><td style="text-align: justify">Use of Estimates</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(c)</td><td style="text-align: justify">Notes Receivable from Participants</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are reclassified as benefits paid based upon the terms of the Plan document.</p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(d)</td><td style="text-align: justify">Administrative Expenses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Expenses reasonably incurred in the administration of the Plan are paid by the Plan. Certain costs of establishing and administering the Plan have been paid by the Plan Sponsor and, accordingly, are not included as administrative expenses of the Plan.</p> <table cellpadding="0" style="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(e)</td><td style="text-align: justify">Benefit Payments</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Benefit payments to participants are recorded when paid.</p> <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(3)</td><td style="text-align: justify">Investment in Master Trust</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Plan’s investments are held in the Diageo North America, Inc. Master Trust (“Master Trust”), which was established for the Plan and another Company sponsored defined contribution plan. Each defined contribution plan has a divided interest in the Master Trust. The assets of the Master Trust are held by Fidelity Management Trust Company (the “Trustee”). Investment income (loss) and administrative expenses relating to the Master Trust are allocated to the individual defined contribution plans based upon balances invested by each plan.</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.9pt; text-align: justify; text-indent: -27.3pt"> </p> <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(4)</td><td style="text-align: justify">Master Trust Financial Information</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Plan’s specific interest in the Master Trust is credited or charged for contributions, transfers and benefit payments relating to its participants. Net appreciation (depreciation) in fair value of investments and income (loss) from investments are allocated to the Plan based on the Plan’s specific interest in the net assets of the Master Trust.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0.25in">The following table presents the fair values of investments and other assets and liabilities of the Master Trust, and the Plan’s interest in the Master Trust, as of December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 210.35pt"><b> </b></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>December 31, 2025</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>December 31, 2024</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Plan’s Interest</b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Plan’s Interest</b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Master Trust <br/>Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>in Master<br/> Trust Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Master Trust <br/>Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>in Master<br/> Trust Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td>Investments at fair value:</td><td> </td> <td colspan="14"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; text-align: left">Mutual funds</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">492,178,626</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">477,607,770</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,451,141</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">408,185,999</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Diageo common stock fund</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,178,745</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,028,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,048,269</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,871,556</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Money market funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,576,089</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,731,955</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,461,529</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,725,767</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Master Trust Net Assets, at fair value</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: left">$</td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">520,933,460</td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"></td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">505,368,161</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: left">$</td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">450,960,939</td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">437,783,322</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 210.35pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Investment income of the Master Trust for the year ended December 31, 2025 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Net appreciation in fair value of investments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">63,862,884</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Interest and dividends</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,161,694</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Total investment income</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">78,024,578</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(5)</td><td>Master Trust Investment Valuation and Income Recognition</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Investments in the Master Trust are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Master Trust follows the fair value measurement guidance presented by GAAP for financial and nonfinancial assets and liabilities. This guidance defines fair value and provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 111.55pt; text-indent: -63pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.5in; text-align: left">Level 1</td><td style="text-align: justify">Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.5in; text-align: left">Level 2</td><td style="text-align: justify"> Inputs to the valuation methodology include:</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 138.55pt; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">●</td><td style="text-align: justify">Quoted prices for similar assets or liabilities in active markets;</td></tr></table> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 138.55pt; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.75in"></td><td style="text-align: justify; width: 0.25in">●</td><td style="text-align: justify">Quoted prices for identical or similar assets or liabilities in inactive markets;</td></tr></table> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 138.55pt; text-indent: -26.95pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.75in"></td><td style="text-align: justify; width: 0.25in">●</td><td style="text-align: justify">Inputs other than quoted prices that are observable for the asset or liability;</td></tr></table> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 138.6pt; text-indent: -27pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.75in"></td><td style="text-align: justify; width: 0.25in">●</td><td style="text-align: justify">Inputs that are derived principally from or corroborated by observable market data by correlation or other means.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 1.55in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0.75in">If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.35pt 0pt 1.55in; text-indent: -63pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.5in; text-align: left">Level 3</td><td style="text-align: justify">Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.95pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2025 and 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 48.55pt; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><i>Mutual funds</i>: These investments are public investment vehicles valued using the Net Asset Value (“NAV”) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The NAV is a quoted price in an active market.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.6pt; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><i>Money market funds:</i> Valued at the NAV of shares held by the Master Trust at year end.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 48.6pt; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><i>Diageo common stock fund:</i> Represents a unitized employer stock fund and it is comprised of the Company’s ADRs and a short term cash component valued at the closing price reported on the active market on which the individual securities are traded.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.75pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following table sets forth by level, within the fair value hierarchy, the Master Trust’s assets at fair value:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Master Trust assets at<br/> fair value as of<br/> December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Mutual funds</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">492,178,626</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">492,178,626</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Money market funds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,576,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,576,089</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Diageo common stock fund</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,178,745</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,178,745</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">520,933,460</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">520,933,460</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Master Trust assets at<br/> fair value as of<br/> December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Mutual funds</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,451,141</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,451,141</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Money market funds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,461,529</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,461,529</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Diageo common stock fund</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,048,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,048,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">450,960,939</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">450,960,939</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. Interest is recorded on the accrual basis. Net appreciation (depreciation) in fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.8pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.9pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Plan evaluated the significance of transfers between levels based on the nature of the financial instruments and size of the transfer relative to total net assets available for benefits. For the years ended December 31, 2025 and 2024, there were no transfers in or out of Level 3.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0.25in">The following table presents the fair values of investments and other assets and liabilities of the Master Trust, and the Plan’s interest in the Master Trust, as of December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 210.35pt"><b> </b></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>December 31, 2025</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>December 31, 2024</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Plan’s Interest</b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Plan’s Interest</b></span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Master Trust <br/>Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>in Master<br/> Trust Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Master Trust <br/>Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>in Master<br/> Trust Balances</b></span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td>Investments at fair value:</td><td> </td> <td colspan="14"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; text-align: left">Mutual funds</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">492,178,626</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">477,607,770</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,451,141</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">408,185,999</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Diageo common stock fund</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,178,745</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,028,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,048,269</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,871,556</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Money market funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,576,089</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,731,955</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,461,529</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,725,767</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Master Trust Net Assets, at fair value</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: left">$</td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">520,933,460</td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"></td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">505,368,161</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: left">$</td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">450,960,939</td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; border-bottom: Black 4pt double; font-weight: normal; text-align: right">437,783,322</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 210.35pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Investment income of the Master Trust for the year ended December 31, 2025 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Net appreciation in fair value of investments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">63,862,884</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Interest and dividends</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,161,694</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Total investment income</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">78,024,578</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 492178626 477607770 420451141 408185999 7178745 7028436 11048269 10871556 21576089 20731955 19461529 18725767 520933460 505368161 450960939 437783322 63862884 14161694 78024578 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The following table sets forth by level, within the fair value hierarchy, the Master Trust’s assets at fair value:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Master Trust assets at<br/> fair value as of<br/> December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Mutual funds</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">492,178,626</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">492,178,626</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Money market funds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,576,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,576,089</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Diageo common stock fund</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,178,745</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,178,745</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">520,933,460</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">520,933,460</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Master Trust assets at<br/> fair value as of<br/> December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Mutual funds</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,451,141</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,451,141</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Money market funds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,461,529</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,461,529</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Diageo common stock fund</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,048,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,048,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">450,960,939</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">450,960,939</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 492178626 492178626 21576089 21576089 7178745 7178745 520933460 520933460 420451141 420451141 19461529 19461529 11048269 11048269 450960939 450960939 <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(6)</td><td>Risks and Uncertainties</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.6pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Plan invests in various investment securities which are exposed to various risks such as interest rate, market, and credit risks. Market risks include global events which could impact the value of investment securities, such as inflation, a pandemic or international conflict. Due to the level of risk associated with these securities, it is at least reasonably possible that changes in their values will occur in the near term and that such changes could materially affect participants’ accounts balances and the amounts reported in the statement of net assets available for benefits.</p> <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(7)</td><td>Related-Party and Party-In-Interest Transactions</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.75pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Certain Plan investments that include mutual funds and money market funds are managed by Fidelity Management &amp; Research through the Master Trust. Fidelity Management &amp; Research is related to the Trustee as defined by the Plan and, therefore, transactions involving these investments qualify as party-in-interest transactions. Fees incurred from related parties by the Plan amounted to $282,191 for the year ended December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Plan’s investments include ADR shares of Diageo plc through the Master Trust. Diageo plc is the parent company of the Plan Sponsor and, therefore, transactions involving this investment qualify as party-in-interest transactions. At the Master Trust during 2025, this investment earned dividends of $350,000, had realized losses of $295,000 and had unrealized losses of $3,096,000. At the Master Trust during 2025, purchases and sales of the ADR shares of Diageo plc were approximately $809,000 and $1,638,000, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Notes receivable from participants also qualify as party-in-interest transactions.</p> 282191 350000 295000 3096000 809000 1638000 <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(8)</td><td>Plan Termination</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Although it has not expressed any intent to do so, the Company has the right under the Plan document to terminate the Plan, subject to the provisions of ERISA.</p> <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(9)</td><td>Tax Status</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.75pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Internal Revenue Service (“IRS”) has determined and informed the Company by a letter dated September 13, 2022 that the Plan and related trust are designed in accordance with applicable sections of the Code. The Plan Sponsor and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the Internal Revenue Code.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.75pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Sponsor has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2025 and 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.</p> <table cellpadding="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">(10)</td><td>Subsequent Events</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.85pt 0pt 48.55pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">In preparing the financial statements, management of the Plan has evaluated events and transactions for potential recognition or disclosure through June 25, 2026, the date that the financial statements were available to be issued, and noted no subsequent events requiring disclosure.</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">DIAGEO NORTH AMERICA, INC. SAVINGS PLAN</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 107.65pt; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Schedule H, Line 4(i) – Schedule of Assets (Held at End of Year)</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">December 31, 2025</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Identity of issue</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Description of investment including<br/> maturity date and rate of interest</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Cost</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Current <br/>value</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; width: 30%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-0">Plan’s interest in the Master Trust</span></span></td><td style="padding-bottom: 4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-1">Plan’s interest in the Diageo North America, Inc. Master Trust</span></span></td><td style="padding-bottom: 4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-4">**</span></span></td><td style="padding-bottom: 4pt; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 4pt double; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>$</b></span></td><td style="border-bottom: Black 4pt double; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><b>505,368,161</b></span></td><td style="padding-bottom: 4pt; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">* <span style="-sec-ix-hidden: hidden-fact-2">Notes receivable from participants</span></span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-3">Loans to participants with interest rates ranging from 3.25% to 8.50% and maturity dates ranging from 2026 to 2045</span></span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-5">**</span></span></td><td style="padding-bottom: 4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 4pt double; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>$</b></span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><b>2,269,025</b></span></td><td style="padding-bottom: 4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">*</td><td>Represents a party-in-interest</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Not applicable.</td> </tr></table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Identity of issue</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Description of investment including<br/> maturity date and rate of interest</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Cost</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>Current <br/>value</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; width: 30%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-0">Plan’s interest in the Master Trust</span></span></td><td style="padding-bottom: 4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-1">Plan’s interest in the Diageo North America, Inc. Master Trust</span></span></td><td style="padding-bottom: 4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-4">**</span></span></td><td style="padding-bottom: 4pt; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 4pt double; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>$</b></span></td><td style="border-bottom: Black 4pt double; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><b>505,368,161</b></span></td><td style="padding-bottom: 4pt; width: 1%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">* <span style="-sec-ix-hidden: hidden-fact-2">Notes receivable from participants</span></span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-3">Loans to participants with interest rates ranging from 3.25% to 8.50% and maturity dates ranging from 2026 to 2045</span></span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: hidden-fact-5">**</span></span></td><td style="padding-bottom: 4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 4pt double; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>$</b></span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><b>2,269,025</b></span></td><td style="padding-bottom: 4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top"> <td style="width: 0.25in">*</td><td>Represents a party-in-interest</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Not applicable.</td> </tr></table> 505368161 0.0325 0.085 2269025 http://www.DIAGEOPLC.com/20251231#PlansInterestInTheMasterTrustMember http://www.DIAGEOPLC.com/20251231#PlansInterestInTheDiageoNorthAmericaIncMasterTrustMember http://www.DIAGEOPLC.com/20251231#NotesReceivableFromParticipantsMember http://www.DIAGEOPLC.com/20251231#LoansToParticipantsWithInterestRatesRangingFrom325To850AndMaturityDatesRangingFrom2026To2045Member 0000835403 0000835403 false false Represents a party-in-interest Not applicable.