ANHEUSER-BUSCH INBEV SA/NV – Anheuser-Busch InBev Launches Tender Offers for Up To USD 11Billion Aggregate Purchase Price of Twelve Series of USD

2019/01/10 15:48:00
SENS announcement for JSE listed company: ANH
                        

ANH 201901100026A
Anheuser-Busch InBev Launches Tender Offers for Up To USD 11Billion Aggregate Purchase Price of Twelve Series of USD

Anheuser-Busch InBev SA/NV
(Incorporated in the Kingdom of Belgium)
Register of Companies Number: 0417.497.106
Euronext Brussels Share Code: ABI
Mexican Stock Exchange Share Code: ANB
NYSE ADS Code: BUD
JSE Share Code: ANH
ISIN: BE0974293251
(‘AB InBev’ or the ‘Company’)

Anheuser-Busch InBev Launches Tender Offers for Up To USD 11 Billion Aggregate Purchase Price of
Twelve Series of USD Notes

Anheuser-Busch InBev SA/NV (‘AB InBev’) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH)
today announced the commencement of offers by its wholly-owned subsidiaries Anheuser-Busch InBev
Worldwide Inc. (‘ABIWW’ or a ‘Company’), Anheuser-Busch Companies, LLC (‘ABC’ or a ‘Company’) and
Anheuser-Busch InBev Finance Inc. (‘ABIFI’ or a ‘Company’ and, together with ABIWW and ABC, the
‘Companies’) to purchase for cash any validly tendered (and not validly withdrawn) and accepted notes up
to an aggregate purchase price (excluding accrued and unpaid interest) of $11 billion (the ‘Aggregate Offer
Cap’) of twelve series of notes organized across five Pools, each with a Pool Offer Cap, issued by the
Companies as described in the table below (the ‘Tender Offers’). The Tender Offers are being made upon
the terms and subject to the conditions set forth in the offer to purchase to be dated 10 January 2019 (the
‘Offer to Purchase’). Terms not defined in this announcement have the meanings given to them in the Offer
to Purchase.

Copies of the Offer to Purchase will be available to holders through the information agent, Global
Bondholder Services Corporation by calling +1 (866) 470-3900 (toll free) or +1 212-430-3774 (for banks
and brokers).

ABIWW, ABC and ABIFI are each offering to purchase, up to the Aggregate Offer Cap and the applicable
Pool Offer Caps the Notes specified in the table below from holders of any of the Notes, subject to the
Acceptance Priority Levels (as defined below). Notes purchased in the Tender Offers will be retired and
cancelled. Subject to applicable law, the Companies reserve the right, but are under no obligation, to
increase any Pool Offer Cap and / or the Aggregate Offer Cap in respect of the Tender Offers at any time,
which could result in the Companies purchasing a greater aggregate principal amount of Notes in the
Tender Offers.

The following table sets forth certain information relating to the pricing for the Tender Offers.

Up to the Applicable Offer Caps(a) of the Notes Listed Below

Fixed Early
Pool U.S. Spread Tender Hypothetical
Outstanding Acceptance Treasury (basis Payment Bloomberg Total
Title of CUSIP / ISIN Principal Issuer Priority Reference points) (per Reference
(d) Consideration
Notes Amount Level Security $1,000) Page
(a)(b)(c)

2021 Pool
Up to USD 2.40 Billion Aggregate Purchase Price

2.650%
035242 AJ5 / 2.500% due
Notes due $4,967,588,000 ABIFI 1 50 bps $30 PX1 $991.96
US035242 AJ52 12/31/20
2021

Floating
Rate 035242 AK2 /
$500,000,000 ABIFI 2 N/A N/A $30 N/A $1,013.75
Notes due US035242 AK26
2021

4.375%
03523TBB3 / 2.500% due
Notes due $500,000,000 ABIWW 3 60 bps $30 PX1 $1,023.24
US03523T BB35 12/31/20
2021

2022 Pool
Up to USD 2.50 Billion Aggregate Purchase Price

3.750%
035240 AD2 / 2.500% due
Notes due $2,350,039,000 ABIWW 1 85 bps $30 PX1 $1,009.54
US035240 AD27 1/15/22
2022

2.500%
03523TBP2 / 2.500% due
Notes due $3,000,000,000 ABIWW 2 90 bps $30 PX1 $969.40
US03523T BP21 1/15/22
2022

2023 Pool
Up to USD 3.00 Billion Aggregate Purchase Price

2.625%
035242 AA4 / 2.625% due
Notes due $1,250,000,000 ABIFI 1 105 bps $30 PX1 $964.13
US035242 AA44 12/31/23
2023

3.300%
035242 AL0 / 2.625% due
Notes due $6,000,000,000 ABIFI 2 105 bps $30 PX1 $988.58
US035242 AL09 12/31/23
2023

2024 Pool
Up to USD 1.50 Billion Aggregate Purchase Price

Floating
Rate 035240AK6 /
$500,000,000 ABIWW 1 N/A N/A $30 N/A $982.50
Notes due US035240 AK69
2024

3.500%
035240AJ9 / 2.625% due
Notes due $1,500,000,000 ABIWW 2 115 bps $30 PX1 $990.57
US035240 AJ96 12/31/23
2024

3.700%
03524B AE6 / 2.625% due
Notes due $1,400,000,000 ABIFI 3 120 bps $30 PX1 $997.25
US03524BAE65 12/31/23
2024

2026 Pool
Up to USD 1.60 Billion Aggregate Purchase Price

3.650%
035242 AP1 / 3.125% due
Notes due $2,444,837,000 ABIFI 1 140 bps $30 PX1 $971.70
US035242 AP13 11/15/28
2026

03522A AD2 /
3.650%
U00323 AD4 / ABIWW 3.125% due
Notes due $8,555,163,000 1 140 bps $30 PX1 $971.70
US03522A AD28 / and ABC 11/15/28
2026
USU00323 AD40

(a) The offers with respect to the 2.650% Notes due 2021, the Floating Rate Notes due 2021 and the 4.375% Notes
due 2021 (collectively, the ‘2021 Pool’) are subject to a ‘2021 Pool Offer Cap’ of $2,400,000,000 (subject to
adjustment as a result of Pool Cap Reallocation as described in the Offer to Purchase). The offers with respect
to the 3.750% Notes due 2022 and the 2.500% Notes due 2022 (collectively, the ‘2022 Pool’) are subject to a
‘2022 Pool Offer Cap’ of $2,500,000,000 (subject to adjustment as a result of Pool Cap Reallocation as
described in the Offer to Purchase). The offers with respect to the 2.625% Notes due 2023 and the 3.300%
Notes due 2023 (collectively, the ‘2023 Pool’) are subject to a ‘2023 Pool Offer Cap’ of $3,000,000,000 (subject
to adjustment as a result of Pool Cap Reallocation as described in the Offer to Purchase). The offers with respect
to the Floating Rate Notes due 2024, the 3.500% Notes due 2024 and the 3.700% Notes due 2024 (collectively,
the ‘2024 Pool’) are subject to a ‘2024 Pool Offer Cap’ of $1,500,000,000 (subject to adjustment as a result of
Pool Cap Reallocation as described in the Offer to Purchase). The offers with respect to the 3.650% Notes due
2026 issued by ABIFI and the 3.650% Notes due 2026 issued by ABIWW and ABC (collectively, the ‘2026 Pool’
and together with the 2021 Pool, the 2022 Pool, the 2023 Pool and the 2024 Pool, the ‘Pools’) are subject to a
‘2026 Pool Offer Cap’ of $1,600,000,000 (subject to adjustment as a result of Pool Cap Reallocation as
described in the Offer to Purchase) (together with the 2021 Pool Offer Cap, the 2022 Pool Offer Cap, the 2023
Pool Offer Cap and the 2024 Pool Offer Cap, the ‘Pool Offer Caps’). The offers for the 2021 Pool, the 2022
Pool, the 2023 Pool, the 2024 Pool and the 2026 Pool (collectively, the ‘Notes’) are subject to an Aggregate
Offer Cap equal to an aggregate purchase price (excluding Accrued Interest (as defined below)) of up to
$11,000,000,000. The Pool Offer Caps are subject to adjustment through Pool Cap Reallocation as described
in the Offer to Purchase.
(b) Payable in cash per each $1,000 principal amount of the specified series of Notes validly tendered and not
validly withdrawn at or prior to the Early Tender Time and accepted for purchase.
(c) Hypothetical Total Consideration for each series of Notes other than the Floating Rate Notes due 2021 and the
Floating Rate Notes due 2024 (such Notes collectively, the ‘Fixed Rate Notes’) is based on the fixed spread for
the applicable series of Notes to the yield of the U.S. Treasury Reference Security for that series as of 11:00
a.m., New York City time, on 9 January 2019 and assumes a Final Settlement Date of 11 February 2019. The
information provided in the above tables is for illustrative purposes only. The Companies make no representation
with respect to the actual consideration that may be paid, and such amounts may be greater or less than those
shown in the above table depending on the yield of the applicable U.S. Treasury Reference Security as of the
applicable Price Determination Time (as defined below). The actual Total Consideration (as defined below) for
each series of Fixed Rate Notes will be based on the fixed spread for the applicable series of Notes to the yield
of the U.S. Treasury Reference Security for that series as of 11:00 a.m., New York City time, on the applicable
Price Determination Time. The hypothetical Total Consideration excludes accrued and unpaid interest on the
Notes accepted for purchase.
(d) The Total Consideration for the Floating Rate Notes due 2021 and the Floating Rate Notes due 2024 (the
‘Floating Rate Notes’) is fixed. The Total Consideration for the Floating Rate Notes due 2021 is $1,013.75 per
$1,000 principal amount and the Total Consideration for the Floating Rate Notes due 2024 is $982.50 per $1,000
principal amount.
(e) The fixed spread will be used to calculate the yield to maturity that will be used to calculate the Total
Consideration (other than for the Floating Rate Notes), which already includes the Early Tender Payment.

The Tender Offers for the Notes will each expire at 11:59 p.m., New York City time, on 7 February 2019
(the ‘Expiration Time’), or, in each case, any other date and time to which the Companies extend the
applicable Tender Offer. Holders must validly tender their Notes prior to or at 5:00 p.m., New York City time,
on 24 January 2019 (such date and time, as it may be extended with respect to a series of Notes, the ‘Early
Tender Time’), to be eligible to receive the applicable Total Consideration (as defined below) which includes
an amount in cash (the ‘Early Tender Payment’) equal to the applicable amount set forth in the table above
under the heading ‘Early Tender Payment,’ plus accrued interest. If Holders validly tender their Notes after
the Early Tender Time but prior to or at the applicable Expiration Time, Holders will only be eligible to
receive the applicable Tender Offer Consideration plus accrued interest.

Notes tendered may be withdrawn prior to or at, but not after, 5:00 p.m. New York City time, on 24 January
2019 (such date and time, as it may be extended with respect to a series of Notes, the ‘Withdrawal
Deadline’). The Tender Offers are subject to the satisfaction or waiver of certain conditions set forth in the
Offer to Purchase, including the completion by any of the Companies of a public offering of new debt
securities that closes no later than the Expiration Time on terms reasonably satisfactory to the Companies,
as described in the Offer to Purchase.

The Companies will only accept for purchase Notes up to an aggregate purchase price (excluding accrued
interest) that will not exceed the Aggregate Offer Cap and each Pool’s applicable Pool Offer Cap. However,
if at least one of the Pools is in aggregate undersubscribed and at least one of the Pools is in aggregate
oversubscribed, then the Pool Offer Caps will be adjusted in accordance with the Pool Cap Reallocation
mechanism described in the Offer to Purchase. The purpose of Pool Cap Reallocation is to allow the
Companies to reduce or eliminate the proration necessary on the purchase of Notes in one or more
Oversubscribed Pools, while still purchasing all of the Notes validly tendered as of the Early Tender Time
in any Undersubscribed Pools within the Aggregate Offer Cap.

If, following any Pool Cap Reallocation, there remain Oversubscribed Pools, then the applicable Company
will not accept any Notes validly tendered by Holders of Notes in such Oversubscribed Pools after the Early
Tender Time unless the Companies increases the Aggregate Offer Cap and the applicable Pool Offer Caps.
Acceptance of Notes tendered pursuant to the Tender Offers may be subject to proration, as described in
the Offer to Purchase.

The purchase of any series of Notes is not conditioned upon the purchase of any other series of Notes. Any
Notes validly tendered in the Tender Offers and accepted for purchase will be accepted for purchase by
the Companies based on the Aggregate Offer Cap and the applicable Pool Offer Cap and the acceptance

priority levels within each of the 2021 Pool, the 2022 Pool, the 2023 Pool, the 2024 Pool and the 2026 Pool
noted above (the ‘Acceptance Priority Levels’), each as more fully described in the Offer to Purchase. If,
following any Pool Cap Reallocation, the purchase of all validly tendered Notes in a Pool, would result in
an aggregate purchase price greater than the applicable Pool Offer Cap, then such Pool will be
oversubscribed and if the Companies accept Notes in such Pool, any Notes accepted for purchase in the
lowest Acceptance Priority Level in which Notes are accepted for purchase will be accepted for tender on
a prorated basis. For the avoidance of doubt, Notes tendered prior to or at the Early Tender Time will have
priority over Notes tendered after the Early Tender Time, regardless of the Acceptance Priority Levels. If
the Aggregate Offer Cap is reached at the Early Tender Time, then no Notes tendered after the Early
Tender Time will be purchased, unless the Companies increase the Aggregate Offer Cap.

The ‘Total Consideration’ payable for each series of Fixed Rate Notes will be a price per $1,000 principal
amount of such series that would reflect a yield to the applicable maturity date of such series of Notes equal
to the sum of (i) the Reference Yield (as defined below) for such series, determined at 11:00 a.m. (New
York City time) on the business day following the Early Tender Time, plus (ii) the fixed spread applicable to
such series, as set forth in the table above (the ‘Fixed Spread’), minus accrued and unpaid interest on the
Notes from, and including, the most recent interest payment date up to, but excluding, the applicable
Settlement Date (as defined in the Offer to Purchase). The Total Consideration also includes the Early
Tender Payment for the applicable series of Notes set forth in the table above. The ‘Reference Yield’ means
the bid side yield to maturity of the applicable reference security listed in the table above (the ‘Reference
Security’) for such series as calculated by the Dealer Managers (as defined below).

The Total Consideration for the Floating Rate Notes due 2021 is $1,013.75 per $1,000 principal amount
and the Total Consideration for the Floating Rate Notes due 2024 is $982.50 per $1,000 principal amount.

Holders of Notes that are validly tendered and not validly withdrawn at or prior to the Early Tender Time
and that are accepted for purchase will receive the applicable Total Consideration.

Holders of any Notes that are validly tendered after the Early Tender Time but prior to or at the Expiration
Time and that are accepted for purchase will receive the applicable Total Consideration minus the Early
Tender Payment. Total Consideration minus the Early Tender Payment is referred to as the ‘Tender Offer
Consideration.’

The Dealer Managers for the Tender Offers are:

Barclays Capital Inc. BofA Merrill Lynch Deutsche Bank Securities
745 Seventh Avenue
New York, New York 10019 214 North Tryon Street, 14th Floor 60 Wall Street, 2nd Floor
Attention: Liability Charlotte, North Carolina 28255 New York, New York 10005
Management Group USA USA
Call Collect: (212) 528-7581 Attn: Liability Management Group Attn: Liability Management
U.S. Toll Free: (800) 438- Collect: +1 (980) 683-3215 Group
3242 U.S. Toll-Free: : +1 (888) 292-0070 Collect: +1 (212) 250-2955
U.S. Toll-Free:+1 (866) 627-
0391

The Tender and Information Agent for the Tender Offers is:

Global Bondholders Services Corporation

65 Broadway – Suite 404
New York, New York 10006
Attention: Corporate Actions
Bank and Brokers Call Collect: +1 (212) 430-3774
All Others Please Call Toll-Free: +1 (866) 470-3800
Fax: +1 (212) 430-3775 or +1 (212) 430-3779

Non-U.S. Distribution Restrictions

Italy. None of the Offer to Purchase or any other document or materials relating to the Tender Offer
have been or will be submitted to the clearance procedures of the Commissione Nazionale per le Società
e la Borsa (CONSOB) pursuant to Italian laws and regulations. The Tender Offer is being carried out in Italy
as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24
February 1998, as amended (the ‘Financial Services Act’) and article 35-bis, paragraph 4 of CONSOB
Regulation No. 11971 of 14 May 1999, as amended. Holders or beneficial owners of such Notes that are
resident and/or located in Italy can tender Notes for purchase in the Tender Offer through authorised
persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in
the Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation No. 16190 of 29
October 2007, as amended, and Legislative Decree No. 385 of 1 September 1993, as amended) and in
compliance with any other applicable laws and regulations and with any requirements imposed by CONSOB
and any other Italian authority. Each intermediary must comply with the applicable laws and regulations
concerning information duties vis-à-vis its clients in connection with such Notes or the Tender Offer.

United Kingdom. The communication of this Offer to Purchase and any other documents or
materials relating to the Tender Offer is not being made and such documents and/or materials have not
been approved by an authorised person for the purposes of section 21 of the Financial Services and
Markets Act 2000. Accordingly, this Offer to Purchase and such documents and/or materials are not being
distributed to, and must not be passed on to, persons in the United Kingdom other than (i) to those persons

in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the ‘Financial Promotion
Order’)), (ii) to those persons who are within Article 43(2) of the Financial Promotion Order, including
existing members and creditors of the Companies, (iii) to those persons who are outside the United
Kingdom, or (iv) to any other persons to whom it may otherwise lawfully be made under the Financial
Promotion Order.

France. The Tender Offer is not being made, directly or indirectly, to the public in the Republic of
France (France). Neither this Offer to Purchase nor any other document or material relating to the Tender
Offer has been or shall be distributed to the public in France and only (i) providers of investment services
relating to portfolio management for the account of third parties (personnes fournissant le service
d’investissement de gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors
(investisseurs qualifiés), other than individuals, acting for their own account, all as defined in, and in
accordance with, Articles L.411-1, L.411-2 and D.411-1 of the French Code monétaire et financier, are
eligible to participate in the Tender Offer. This Offer to Purchase has not been and will not be submitted
for clearance to nor approved by the Autorité des Marchés Financiers.

Belgium. Neither this Offer to Purchase nor any other documents or materials relating to the
Tender Offer have been submitted to or will be submitted for approval or recognition to the Belgian Financial
Services and Markets Authority (Autoriteit voor financiële diensten en markten / Autorité des services
marchés financiers) and, accordingly, the Tender Offer may not be made in Belgium by way of a public
offering, as defined in Articles 3 and 6 of the Belgian Law of 1 April 2007 on public takeover bids as amended
or replaced from time to time. Accordingly, the Tender Offer may not be advertised and the Tender Offer
will not be extended, and neither this Offer to Purchase nor any other documents or materials relating to
the Tender Offer (including any memorandum, information circular, brochure or any similar documents) has
been or shall be distributed or made available, directly or indirectly, to any person in Belgium other than
‘qualified investors’ in the sense of Article 10 of the Belgian Law of 16 June 2006 on the public offer of
placement instruments and the admission to trading of placement instruments on regulated markets (as
amended or replaced from time to time), acting on their own account. Insofar as Belgium is concerned, this
Offer to Purchase has been issued only for the personal use of the above qualified investors and exclusively
for the purpose of the Tender Offer. Accordingly, the information contained in this Offer to Purchase may
not be used for any other purpose or disclosed to any other person in Belgium.

Legal Notices

This announcement is for informational purposes only and is not an offer to purchase, a solicitation of an
offer to purchase or a solicitation of consents with respect to any securities. This announcement does not
describe all the material terms of the Tender Offer and no decision should be made by any Holder on the

basis of this announcement. The terms and conditions of the Tender Offer are described in the Offer to
Purchase. This announcement must be read in conjunction with the Offer to Purchase. The Offer to
Purchase contains important information which should be read carefully before any decision is made with
respect to the Tender Offer. If any Holder is in any doubt as to the contents of this announcement, or the
Offer to Purchase, or the action it should take, it is recommended to seek its own financial and legal advice,
including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor,
accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes
are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact
such entity if it wishes to tender such Notes pursuant to the Tender Offer.

None of the Companies, the Guarantors, the Dealer Managers or their affiliates, their respective boards of
directors, the Depository and Tender and Information Agent, the Notes Trustee or any of their respective
affiliates makes any recommendation, or has expressed an opinion, as to whether or not Holders should
tender their Notes, or refrain from doing so, pursuant to the Tender Offer. Each Holder should make its own
decision as to whether to tender its Notes and if so, the principal amount of the Notes to tender.

The Companies have not filed this announcement or the Offer to Purchase with, and they have not
been reviewed by, any federal or state securities commission or regulatory authority of any country.
No authority has passed upon the accuracy or adequacy of the Tender Offer, and it is unlawful and
may be a criminal offense to make any representation to the contrary.

The Offer to Purchase does not constitute an offer to purchase Notes in any jurisdiction in which, or to or
from any person to or from whom, it is unlawful to make such offer under applicable securities or blue sky
laws. The distribution of the Offer to Purchase in certain jurisdictions is restricted by law. Persons into
whose possession the Offer to Purchase comes are required by each of the Companies, the Guarantors,
the Dealer Managers and the Depository and Tender and Information Agent to inform themselves about,
and to observe, any such restrictions.

8
Legal Disclaimer
This release contains ‘forward-looking statements’. These statements are based on the current expectations and views of future
events and developments of the management of AB InBev and are naturally subject to uncertainty and changes in circumstances.
The forward-looking statements contained in this release include, among other things, statements relating to AB InBev’s business
combination with SAB and other statements other than historical facts. Forward-looking statements include statements typically
containing words such as ‘will’, ‘may’, ‘should’, ‘believe’, ‘intends’, ‘expects’, ‘anticipates’, ‘targets’, ‘estimates’, ‘likely’, ‘foresees’
and words of similar import. All statements other than statements of historical facts are forward-looking statements. You should not
place undue reliance on these forward-looking statements, which reflect the current views of the management of AB InBev, are subject
to numerous risks and uncertainties about AB InBev and are dependent on many factors, some of which are outside of AB InBev’s
control. There are important factors, risks and uncertainties that could cause actual outcomes and results to be materially different,
including the ability to realize synergies from the business combination with SAB and the risks and uncertainties relating to AB InBev
described under Item 3.D of AB InBev’s Annual Report on Form 20-F (‘Form 20-F’) filed with the US Securities and Exchange
Commission (‘SEC’) on 19 March 2018. Other unknown or unpredictable factors could cause actual results to differ materially from
those in the forward-looking statements.
The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere,
including AB InBev’s most recent Form 20-F, other reports furnished on Form 6-K, and any other documents that AB InBev has made
public. Any forward-looking statements made in this communication are qualified in their entirety by these cautionary statements and
there can be no assurance that the actual results or developments anticipated by AB InBev will be realized or, even if substantially
realized, that they will have the expected consequences to, or effects on, AB InBev or its business or operations. Except as required
by law, AB InBev undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

ANHEUSER-BUSCH INBEV CONTACTS

Media Investors
Pablo Jimenez Lauren Abbott
Tel: +1 212 573 9289 Tel: +1 212 573 9287
E-mail: pablo.jimenez@ab-inbev.com E-mail: lauren.abbott@ab-inbev.com

Aimee Baxter Mariusz Jamka
Tel: +1 718 650 4003 Tel: +32 16 276 888
E-mail: aimee.baxter@ab-inbev.com E-mail: mariusz.jamka@ab-inbev.com

Ingvild Van Lysebetten Jency John
Tel: +32 16 276 608 Tel: +1 646 746 9673
E-mail: ingvild.vanlysebetten@ab-inbev.com Email: jency.john@ab-inbev.com
Fixed Income Investors

Gabriel Ventura
Tel: +1-212-478-7031
E-mail: gabriel.ventura@ab-inbev.com

Suma Prasad
Tel: +1-212-503-2887
E-mail: suma.prasad@ab-inbev.com

10 January 2019

Sponsor: Questco Corporate Advisory Proprietary Limited

9
About Anheuser-Busch InBev

Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico
(MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock
Exchange (NYSE: BUD). Our Dream is to bring people together for a better world. Beer, the original social network, has been bringing
people together for thousands of years. We are committed to building great brands that stand the test of time and to brewing the best
beers using the finest natural ingredients. Our diverse portfolio of well over 500 beer brands includes global brands Budweiser®,
Corona® and Stella Artois®; multi-country brands Beck’s®, Castle®, Castle Lite®, Hoegaarden® and Leffe®; and local champions
such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Cristal®, Harbin®, Jupiler®, Michelob Ultra®, Modelo Especial®,
Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage dates back more than 600 years, spanning continents and
generations. From our European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co
brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the
first brewery in Brazil. Geographically diversified with a balanced exposure to developed and developing markets, we leverage the
collective strengths of approximately 180,000 employees based in nearly 50 countries worldwide. For 2017, AB InBev’s reported
revenue was 56.4 billion USD (excluding JVs and associates).

10

Date: 10/01/2019 03:48:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

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