Wrap Text
AB InBev Launches Cash Tender Offers
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")
Brussels – 19 March 2024 – 8:35 CET
AB InBev Launches Cash Tender Offers for up to USD 2 Billion Aggregate Purchase Price of
Two Series of USD Notes and Three Series of EUR Notes
19 March 2024 – Anheuser-Busch InBev SA/NV ("AB InBev") (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH)
today announced the commencement of offers by AB InBev and its wholly-owned subsidiaries Anheuser-Busch InBev
Worldwide Inc. ("ABIWW") and Anheuser-Busch Companies, LLC ("ABC", and together with AB InBev and ABIWW, 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"Companies") to purchase for cash any validly tendered (and not validly withdrawn) and accepted notes up to an aggregate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 USD 2 billion (such amount, as the same may be increased or
decreased, the "Offer Cap") of (i) three series of EUR notes issued by AB InBev (the "EUR Notes") and (ii) one series of USD
notes issued by ABIWW and ABC and one series of USD notes issued by ABIWW (collectively, the "USD Notes", and together
with the EUR Notes, the "Notes") 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 dated 19
March 2024 (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 are available to holders through the information agent, Global Bondholder
Services Corporation, at its website https://gbsc-usa.com/registration/abi or by calling +1 (855) 654-2014 (toll free) or +1 212-
430-3774 (for banks and brokers).
Upon the terms and subject to the conditions set forth in the Offer to Purchase, each of AB InBev, ABIWW and ABC is offering
to purchase, up to the Offer Cap, the Notes issued by it set forth in the table below, subject to the Acceptance Priority Levels
(as defined below). Notes purchased in the Tender Offers will be retired and cancelled.
Press release – 19 March 2024 – 1
Notes Listed Below Up to the Offer Cap(a) of $2,000,000,000
Reference Fixed Early Tender
ISIN / (if applicable) Outstanding Issuer Acceptance Security / Spread Payment (per Bloomberg
Title of Maturity
(f) CUSIP Principal and Priority Interpolated (basis $1,000 or Reference
Notes Date
Amount Offeror Level(b) Mid-Swap points) €1,000, as Page
Rate(c) (d)
applicable)(e)
US03522AAG58/
03522AAG5
3.650% 144A:
Notes US03522AAD28/ February 1, ABIWW UST 4.625% due
$2,254,500,000(g) 1 15 $30 PX1
due 03522AAD2 2026 and ABC February 28, 2026
2026
Reg S:
USU00323AD40/
U00323AD4
2.700%
IRSB EU
Notes March 31, 2026 Interpolated
BE6265142099 €1,000,000,000 AB InBev 2 -7 €30 (Pricing
due 2026 Mid-Swap Rate
Source: BGN)
2026
2.125%
IRSB EU
Notes December 2027 Interpolated
BE6320934266 €1,000,000,000 AB InBev 3 5 €30 (Pricing
due 2, 2027 Mid-Swap Rate
Source: BGN)
2027
4.000%
Notes US035240AL43/ April 13, UST 4.250% due
$2,500,000,000 ABIWW 4 30 $30 PX1
due 035240AL4 2028 February 28, 2029
2028
2.000%
IRSB EU
Notes March 17, 2028 Interpolated
BE6285455497 €3,000,000,000 AB InBev 5 15 €30 (Pricing
due 2028 Mid-Swap Rate
Source: BGN)
2028
(a) The offers with respect to the Notes are subject to an Offer Cap equal to an aggregate purchase price (excluding accrued
interest) of up to $2,000,000,000, subject to the terms and conditions described in the Offer to Purchase.
(b) We will accept Notes in the order of their respective Acceptance Priority Level specified in the table above (each, an
"Acceptance Priority Level", with "1" being the highest Acceptance Priority Level and "5" being the lowest Acceptance
Priority Level), subject to the terms and conditions described in the Offer to Purchase.
(c) The applicable Reference Security will be used to calculate the applicable Total Consideration (as defined below) payable
for each series of USD Notes, and the applicable Interpolated Mid-Swap Rate will be used to calculate the applicable Total
Consideration payable for each series of EUR Notes. The Total Consideration payable pursuant to the Tender Offers will
be calculated and determined as set forth in the Offer to Purchase
d) The applicable Fixed Spread will be used to calculate the applicable Total Consideration payable for each series of Notes,
which already includes the Early Tender Payment. The Total Consideration payable pursuant to the Tender Offers will be
calculated and determined as set forth in the Offer to Purchase.
(e) Payable in cash per each $1,000 or €1,000 principal amount, as applicable, of the specified series of Notes validly tendered
and not validly withdrawn at or prior to the Early Tender Time and accepted for purchase. The Total Consideration, when
calculated and determined in the manner set forth in the Offer to Purchase, already includes the Early Tender Payment.
(f) The EUR Notes are fully and unconditionally guaranteed by ABC, ABIWW, Anheuser-Busch InBev Finance Inc., Brandbev
S.à r.l., Brandbrew S.A. and Cobrew NV (the "Guarantors"). The USD Notes are fully and unconditionally guaranteed by
AB InBev and certain of its direct and indirect subsidiaries.
(g) The $2,254,500,000 aggregate outstanding principal amount of 3.650% Notes due 2026 issued by ABIWW and ABC
consists of (i) $2,155,703,000 outstanding principal amount of 3.650% Notes due 2026 issued by ABIWW and ABC
(US03522AAG58/03522AAG5) and (ii) $98,797,000 outstanding principal amount of 3.650% Notes due 2026 issued by
ABIWW and ABC (144A: US03522AAD28/03522AAD2 & Reg S: USU00323AD40/U00323AD4).
T
he Tender Offers for the Notes will expire at 5:00 p.m., New York City time, on 17 April 2024 (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 5:00 p.m., New York City time, on 2 April 2024 (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 already 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 at or prior to the applicable Expiration Time, Holders will only be eligible to receive the applicable Tender Offer
Consideration plus accrued interest.
Notes tendered may be withdrawn at any time prior to, but not after, 5:00 p.m., New York City time, on 2 April 2024 (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 of certain conditions, as set forth in the Offer to Purchase; these conditions include the "Financing
Condition", meaning the completion by any of the Companies of one or more offerings of new debt securities that close no
later than the Expiration Time on terms satisfactory to the Companies (in their discretion), including but not limited to the amount
of net proceeds raised by such offerings being sufficient, in the aggregate, to effect the repurchase of the Notes validly tendered
and accepted for purchase pursuant to the Tender Offers.
The Companies will only accept for purchase Notes up to an aggregate purchase price (excluding accrued interest) that will
not exceed the Offer Cap. To determine whether the Offer Cap has been reached, the Offerors will first convert the aggregate
purchase price for the EUR Notes validly tendered into U.S. Dollars in the manner described in the Offer to Purchase. Subject
to applicable law, the Companies reserve the right, but are under no obligation, to increase or decrease the Offer Cap in respect
of the Tender Offers at any time (without extending the Withdrawal Deadline or otherwise reinstating withdrawal rights of
Holders), which could result in the Companies purchasing a greater aggregate principal amount of Notes in the Tender Offers.
As more fully described in the Offer to Purchase, if the aggregate purchase price for the Notes validly tendered prior to the
Early Tender Time exceeds the Offer Cap, subject to the Financing Condition the Offerors intend (but are not obligated to) to
increase the Offer Cap by some or all of the amount of such excess, provided it will not be increased by more than $500,000,000
to a maximum amount of $2,500,000,000.
The purchase of any series of Notes is not conditioned upon the purchase of any other series of Notes. Any Notes validly
tendered and not validly withdrawn in the Tender Offers and accepted for purchase will be purchased by the Companies based
on the Offer Cap and the acceptance priority levels noted above (the "Acceptance Priority Levels"), each as more fully
described in the Offer to Purchase. If the purchase of all validly tendered Notes would result in an aggregate purchase price
greater than the Offer Cap, then the Tender Offers will be oversubscribed and if the Companies accept Notes in the Tender
Offers, 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 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 Offer Cap.
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", which already includes the Early Tender Payment for the
applicable series of Notes set forth in the table above.
Holders of any Notes that are validly tendered after the Early Tender Time but at or before the Expiration Time and that are
accepted for purchase will receive the applicable Total Consideration minus the Early Tender Payment. The Total
Consideration minus the Early Tender Payment is referred to as the "Tender Offer Consideration".
Holders are advised to check with any bank, securities broker or other intermediary through which they hold their Notes as to
when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in the Tender
Offers before the deadlines specified herein and in the Offer to Purchase. The deadlines set by the clearing system for the
submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the
Offer to Purchase.
Holders holding EUR Notes directly in the NBB-SSS or through a direct participant of the NBB-SSS (other than Euroclear or
Clearstream, Luxembourg) must, in order to be eligible to participate in the EUR Tender Offers in the manner specified in the
Offer to Purchase, (i) arrange for the EUR Notes which they wish to tender to be transferred to an account in either Euroclear
or Clearstream, Luxembourg, and (ii) maintain, or where relevant, procure, access to an account in either Euroclear or
Clearstream, Luxembourg through which such EUR Notes can be traded, and to which the Total Consideration or the Tender
Offer Consideration (as applicable) and the applicable accrued interest payment may be credited by AB InBev.
Holders of EUR Notes who do not have access to an account, as described above, in either Euroclear or Clearstream,
Luxembourg (either directly or through a direct participant or other intermediary), or who do not transfer the EUR Notes which
they wish to tender to a direct participant in either clearing system, will not be able to submit a EUR Tender Instruction (as
defined in the Offer to Purchase) to the Tender and Information Agent and will not be eligible to participate in the Tender Offers
in the manner specified in the Offer to Purchase.
Any Holder of EUR Notes who (i) holds its EUR Notes directly, or through a direct participant of the NBB-SSS, in an "N account"
within the NBB-SSS, (ii) is not eligible, in accordance with Article 4 of the Belgian Royal Decree of 26 May 1994, to hold its
Notes (directly or indirectly) in an "X account" within the NBB-SSS, and who is therefore unable to transfer the relevant Notes
to an account in either Euroclear or Clearstream, Luxembourg and (iii) who is eligible to view the Offer to Purchase and make
an investment decision with respect to the Tender Offers, may contact the Tender and Information Agent for further information,
using the contact details set out below.
English, Dutch and French versions of this press release will be available on www.ab-inbev.com.
The Lead Dealer Managers for the Tender Offers (in respect of the Tender Offers as
made to Relevant Holders (as defined below) only) are:
BofA Securities Deutsche Bank Deutsche Bank J.P. Morgan SE J.P. Morgan
Aktiengesellschaft Securities Securities LLC
620 S Tryon Street,
20th Floor Mainzer Landstra?e 1 Columbus Circle Taunustor 1 383 Madison
Charlotte 11-17 New York, NY 10019 (TaunusTurm) Avenue
North Carolina 60329 Frankfurt am United States of 60310 Frankfurt am New York, NY 10179
28255 Main America Main United States of
United States of Germany Attn: Liability Germany America
America Tel: +44 20 7545 Management Group Attn: Liability Attn: Liability
8011 Toll free: (866) 627- Management Management Group
Attention: Liability 0391 Collect: +44 20 7134 Collect: (212) 834-
Management Group Collect: (212) 250- 2468 4045
Collect: (980) 387- 2955 Email: Toll-Free: (866) 834-
3907 Liability_Manageme 4666
Toll-Free: (888) 292- nt_EMEA@jpmorga
0070
n.com
Email:
debt_advisory@bofa
.com
In Europe:
Telephone: +33 1
877 01057
Email: DG.LM-
EMEA@bofa.com
Mizuho Securities Europe GmbH Mizuho Securities USA LLC SMBC Bank EU AG
Taunustor 1 1271 Avenue of the Americas Neue Mainzer Str. 52-58
60310 Frankfurt am Main New York, New York 10020 60311 Frankfurt am Main
Germany Attention: Liability Management Germany
Attention: Liability Management Group
Telephone: +34 91 790 7559 Collect: +1 (212) 205-7736 Attn: Liability Management
Toll Free: +1 (866) 271-7403 Toll Free:+1 (866) 271-7403 Telephone: +49 69 2222 9 8481
Email: Email:
liabilitymanagement@uk.mizuho- liability.management@smbcnikko-
sc.com cm.com
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 (855) 654-2014
Fax: +1 (212) 430-3775 or +1 (212) 430-3779
E-mail: contact@gbsc-usa.com
Tender Offer Website: https://gbsc-usa.com/registration/abi
Non-U.S. Distribution Restrictions
Italy. None of the Tender Offers, this announcement, the Offer to Purchase or any other documents or materials relating to the
Tender Offers have been or will be submitted to the clearance procedure of the Commissione Nazionale per le Società e la
Borsa ("CONSOB") pursuant to applicable Italian laws and regulations. The Tender Offers are being carried out in the Republic
of Italy ("Italy") as exempted offers 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 the Notes that are resident or located in Italy can tender their Notes
for purchase through authorized persons (such as investment firms, banks or financial intermediaries permitted to conduct
such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, 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 or any other Italian authority. Each intermediary must
comply with applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes or
the Offer to Purchase.
United Kingdom. The communication of this announcement, the Offer to Purchase and any other documents or materials
relating to the Tender Offers is not being made by 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 (the "FSMA"). Accordingly,
such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United
Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under
section 21(1) of the FSMA on the basis that it is only directed at and may only be communicated to: (1) persons who are outside
of the United Kingdom; (2) investment professionals falling within the definition contained in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (3) those persons who are existing members
or creditors of the Companies or other persons falling within Article 43(2) of the Order; or (4) any other persons to whom such
documents and/or materials may lawfully be communicated in accordance with the Order (all such persons together being
referred to as "relevant persons"). This announcement, the Offer to Purchase and any other documents or materials relating to
the Tender Offers are only available to relevant persons. Any person who is not a relevant person should not act or rely on this
document or any of its contents.
France. The Tender Offers are not being made, directly or indirectly, in the Republic of France (other than to qualified investors
as described below). This announcement, the Offer to Purchase and any other document or material relating to the Tender
Offers have only been, and shall only be, distributed in the Republic of France to qualified investors as defined in Article 2(e)
of Regulation (EU) 2017/1129 (the "Prospectus Regulation"). None of this announcement, the Offer to Purchase nor any
other documents or materials relating to the Tender Offers have been or will be submitted for clearance to the Autorité des
marchés financiers.
Belgium. None of this announcement, the Offer to Purchase nor any other documents or materials relating to the Tender Offers
have been, or will be, submitted or notified to, or approved or recognized by, the Belgian Financial Services and Markets
Authority ("Autorité des services et marchés financiers"/"Autoriteit voor Financiële Diensten en Markten"). The Tender Offers
are not being made in Belgium by way of a public offering within the meaning of Articles 3, §1, 1° and 6, §1 of the Belgian Law
of 1 April 2007 on public takeover bids ("loi relative aux offres publiques d'acquisition"/ "wet op de openbare
overnamebiedingen"), as amended or replaced from time to time. Accordingly, the Tender Offers may not be, and are not
being, advertised and the Tender Offers will not be extended and this announcement, the Offer to Purchase and any other
documents or materials relating to the Tender Offers (including any memorandum, information circular, brochure or any similar
documents) may not, have not, and will not, be distributed or made available, directly or indirectly, to any person in Belgium
other than to "qualified investors" ("investisseur qualifié"/"gekwalificeerde belegger") within the meaning of Article 2(e) of the
Prospectus Regulation acting on their own account. Insofar as Belgium is concerned, the Tender Offers are made only to
qualified investors, as this term is defined above. Accordingly, the information contained in this announcement, the Offer to
Purchase or in any other documents or materials relating to the Tender Offers may not be used for any other purpose or
disclosed or distributed to any other person in Belgium.
Legal Notices
None of the Dealer Managers (nor any of their respective directors, officers, employees, agents or affiliates) has any role in
relation to any part of the Tender Offers made to Holders that are not Relevant Holders, where "Relevant Holders" means:
(i) a Holder of the USD Notes; or
(ii) a Holder of EUR Notes that is:
(a) if resident or located in a member state of the European Union (the "EU"), an "eligible counterparty" or a "professional
client", each as defined in Directive No. 2014/65/EU on markets in financial instruments (as amended from time to time);
(b) if resident or located in the UK, an "eligible counterparty", as defined in the FCA Handbook Conduct of Business
Sourcebook, or a "professional client" as defined in point (8) of Article 2(1) of Regulation (EU) No. 600/2014 as it forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018; or
(c) if resident or located in a jurisdiction outside of the EU and the UK, an institutional holder under applicable local law and
not a retail holder.
This announcement is for informational purposes only and is not an offer to sell or purchase, a solicitation of an offer to purchase
or a solicitation of consents with respect to any securities. There will there be no sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or other jurisdiction.
This announcement does not describe all the material terms of the Tender Offers and no decision should be made by any
Holder on the basis of this announcement. The terms and conditions of the Tender Offers 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 Offers. 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 that the Holder 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 Offers.
None of the Companies, the Dealer Managers or their affiliates, their respective boards of directors, the Tender and Information
Agent, the trustee with respect to the USD Notes 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
Offers. 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
ab-inbev.com Press release – 19 March 2024 – 7
accuracy or adequacy of the Tender Offers, 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 Dealer Managers, the Tender and Information Agent to inform themselves about, and to
observe, any such restrictions.
AB InBev Contacts
Investors Media
Shaun Fullalove Media Relations
Tel: +1 212 573 9287 E-mail: media.relations@ab-inbev.com
E-mail: shaun.fullalove@ab-inbev.com
Ekaterina Baillie
Tel: +32 16 276 888
E-mail: ekaterina.baillie@ab-inbev.com
Cyrus Nentin
Tel: +1 646 746 9673
E-mail: cyrus.nentin@ab-inbev.com
Fixed Income Investors
Patrick Ryan
Tel: +1 646 746 9667
E-mail: patrick.ryan@ab-inbev.com
19 March 2024
JSE Sponsor: Questco Corporate Advisory Proprietary Limited
About Anheuser-Busch InBev
Anheuser-Busch InBev (AB 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). As a company, we dream big to create a future with more cheers. We are always looking to serve up new ways
to meet life's moments, move our industry forward and make a meaningful impact in the world. We are committed to building great brands
that stand the test of time and to brewing the best beers using the finest ingredients. Our diverse portfolio of well over 500 beer brands
includes global brands Budweiser®, Corona®, Stella Artois® and Michelob ULTRA®; multi-country brands Beck's®, Hoegaarden® and
Leffe®; and local champions such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Castle®, Castle Lite®, Cristal®, Harbin®,
Jupiler®, 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 155,000 colleagues based in nearly 50 countries worldwide. For 2023, AB InBev's
reported revenue was 59.4 billion USD (excluding JVs and associates).
Forward-Looking Statements
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 statements other than historical facts and 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, but not limited to, the
risks and uncertainties relating to AB InBev that are described under Item 3.D of AB InBev's Annual Report on Form 20-F filed with the
SEC on 11 March 2024. Many of these risks and uncertainties are, and will be, exacerbated by any further worsening of the global
business and economic environment, the ongoing conflicts in Russia and Ukraine and in the Middle East, including the conflict in the Red
Sea. 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 and 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.
Press release – 19 March 2024 – 10
Date: 19-03-2024 10:39:00
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