DIAGEO PLC

The effectiveness of the Board and its Committees is vital to the overall success of the Group. The last externally facilitated evaluation

of the Board had been carried out in 2020. After internal evaluations conducted in 2021 and 2022, in accordance with Provision 21 of

the Code, another externally facilitated evaluation was conducted during 2023. In line with the UK Corporate Governance Code, in

August 2023 the Board instructed Dr Tracy Long of Boardroom Review Limited (BRL), an independent professional consultancy

which specialises in board reviews and evaluations, to conduct an externally facilitated evaluation. Dr Long and BRL have no

connection with Diageo or its directors.

The purpose of the evaluation was to conduct a comprehensive review and evaluate how the Board and its Committees operate as

measured against current best practice corporate governance principles and in accordance with the Code guidance. The review

encouraged candid reflections from the Board in order to build on strengths, identify challenges and consider recommendations.

The evaluation was conducted through a series of one-to-one interviews with each Director as well as a number of key executives and

third parties who interact frequently with the Board, an information review and observations of meetings. Dr Long attended and

observed Board and Committee meetings during September and October 2023, including private meetings between Non-Executive

Directors at which no Executive Directors or management were present. A report was then prepared for discussion with individual

Directors and the Board as a whole.

The findings of the evaluation indicate that the Board is considered to be well governed and effective. A particular key strength of the

Board is in its composition, expertise and performance as well as the contents of its meetings. Diversity, inclusion, trust and

transparency are other key strengths the Board is actively committed to ensuring it reflects its consumer and global marketplace.

A summary of the key findings and recommendations was presented by Dr Long to the Board in December 2023, following which the

Chair and Company Secretary determined areas of focus for approval by the Board.