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Notice of dividend currency exchange rate
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: ABI
NYSE ADS Code: BUD
JSE Share Code: ANB
ISIN: BE0003793107
(“AB InBev” or “the Company”)
NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE
On Wednesday, 27 April 2016, at the Annual General Meeting of AB InBev shareholders, the gross dividend for
the year ended 31 December 2015 proposed by the board of directors of AB InBev was approved. Therefore a
gross amount of €2.00 per share will be payable as the final dividend per share.
Dividend currency exchange rate
The dividends payable to shareholders whose shares are held through Central Securities Depository
Participants (“CSDPs”) and brokers and are traded on the JSE Limited (“JSE”) are payable in South African
Rand. The applicable currency exchange rate is set out below.
Gross Dividend per EUR/ZAR Exchange rate Gross Dividend per ordinary share
ordinary share (Euro) (South African cents)
€2.00 16.78300 3356.60
South African income tax and dividend tax consequences
The final dividend should be regarded as a ‘foreign dividend’ for South African income tax and dividends tax
purposes.
Foreign dividends received in respect of shares dual listed on the JSE are, however, exempt from income tax.
Consequently, no South African income tax should be incurred by the shareholders in respect of the final
dividend received.
The final dividend may, however, be subject to dividends tax at 15%. There is though, amongst others, an
exemption from dividends tax if the dividend is paid to a South African resident corporate shareholder. This
exemption operates in a manner similar to other local shares listed on the JSE and the dividends paid in
respect thereof to resident corporate shareholders and retirement funds. Intermediaries may only allow an
exemption from dividend tax, provided shareholders have completed and lodged a valid exemption form,
which is obtainable from their intermediary.
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Belgian withholding tax
The gross amount of the final dividend will as a rule be subject to a Belgian withholding tax of 27%. Such
withholding tax can under certain circumstances be reduced.
Belgian dividend withholding tax can be reduced to 15% pursuant to the Belgian-South African double tax
treaty in force. Such reduced rate can be applied provided that Form N°/NR. 276 Div.-Aut. is filed by the
shareholder with the Bureau Central de Taxation de Bruxelles-Etranger, boulevard du Jardin Botanique 50
boîte 3429, 1000 Brussels, Belgium (hereinafter the “Central Bureau of Taxation”) before the expiry of a period
of five years from January 1st of the year in which the withholding tax was paid, in which case the differential
between the standard withholding tax rate of 27% and the reduced treaty rate of 15% will be reimbursed. An
explanatory note is available through this link, or through the Belgian Tax authorities’ official website:
https://eservices.minfin.fgov.be/myminfin-finform/AppelPdfExt?id=2575. The current version of Form N°/NR.
276 Div.-Aut. is available through this link, or through the Belgian Tax authorities’ official website:
https://eservices.minfin.fgov.be/myminfin-finform/AppelPdfExt?id=2599.
A reduced Belgian withholding tax of 1,6995 % is also applicable to dividends paid to corporate shareholders
that hold a participation with an acquisition value of at least €2.5 million. This regime is subject to the
cumulative conditions that (i) the parent company has a legal form considered similar to the ones listed in
Annex I, Part A, to the Council Directive 2011/96/EU of 30 November 2011 on the common system of taxation
applicable in the case of parent companies and subsidiaries of different Member States, as amended by
Directive 2014/863/EU of 8 July 2014; (ii) the participation is held for at least one year without interruption;
and (iii) the shareholder cannot obtain a credit or a reimbursement for Belgian withholding tax.
In order to benefit from this reduced withholding tax, the shareholder must provide the Central Bureau of
Taxation with a South African residency certificate confirming that it fulfils the above mentioned conditions
and indicating to what extent the Belgian withholding tax is in principle creditable or reimbursable on the
basis of the South African laws applicable on 31 December of the year preceding the one during which the
final dividend is paid or attributed.
South African dividends tax rebate in respect of Belgian withholding tax
A rebate must, for South African dividends tax purposes, be deducted from the South African dividends tax
payable in respect of the final dividend. This rebate will be equal to the amount of any Belgian withholding tax
paid in respect of the final dividend, without any right of recovery, and must not exceed the amount of the
South African dividends tax imposed in respect of the final dividend.
For purposes of calculating this rebate, the amount of Belgian withholding tax paid must be translated into
South African Rands by applying the same average exchange rate used to convert the amount of the final
dividend in respect of which that tax is paid.
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The CSDPs and/or brokers, in their capacity as the regulated intermediaries, must obtain proof of any Belgian
withholding tax paid and deducted from the South African tax payable, as above, in the form and manner
prescribed by the South African Revenue Service.
Additional information required by the JSE Listings Requirements
South African dividends tax at the rate of 15% (equalling 503.49000 SA cents per ordinary share) and Belgian
Withholding Tax at the rate of 27% (equalling 906.28200 SA cents per ordinary share) will be withheld from
the gross final dividend paid to shareholders unless a shareholder qualifies for an exemption or reduction.
After the SA dividends tax and the Belgian Withholding Tax have been withheld, the net dividend will be
1946.82800 SA cents per ordinary share.
At the close of business on Monday, 2 May 2016 the Company had a total of 1 607 646 074 ordinary shares in
issue (excluding treasury shares). The Company held 596 082 ordinary shares in treasury giving a total issued
share capital of 1 608 242 156 ordinary shares.
No transfers of shareholdings to and from South Africa will be permitted between Friday, 29 April 2016 and
Friday, 6 May 2016 (both dates inclusive).
The dividend will be paid out of retained earnings and is payable on Monday, 9 May 2016.
For the avoidance of doubt, the income tax and dividends tax information provided above is only relevant to
shareholders whose shares are held through CSDPs and brokers and are traded on the JSE.
Please direct any queries to the Company’s Transfer Secretaries in South Africa:
Computershare Investor Services (Pty) Limited
70 Marshall Street
Johannesburg 2001
Postal Address – PO Box 61051
Marshalltown 2107
Telephone +27 11 370 5000
Facsimile +27 11 688 5200
Email enquiries: web.queries@computershare.co.za
4 May 2016
Sponsor: Deutsche Securities SA Proprietary Limited
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