ANHEUSER-BUSCH INBEV SA/NV - Notice of Currency Exchange Rate Dividend No. 29

Notice of Currency Exchange Rate
Dividend No. 29

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”)

Notice of Currency Exchange Rate
Dividend No. 29

AB InBev shareholders are referred to the announcement published on the Stock Exchange News Service of the
Johannesburg Stock Exchange (“JSE”) (“SENS”) on Thursday, 25 February 2021 and are advised that the final dividend
of €0.50 per share (the “Dividend”) proposed by the board of directors of AB InBev was approved by AB InBev
shareholders at the Annual General Meeting held on Wednesday, 28 April 2021.

The exchange rate applicable for the conversion of Euro to SA Rand for the Dividend will be €1.00 to ZAR 17.4669440,
as calculated on Monday, 3 May 2021. Accordingly, the gross amount of the Dividend is 873.34720 SA cents per share
and will be subject to a Belgian Withholding Tax of 30% (equalling 262.00416 SA cents per share) which will be withheld
from the gross Dividend paid to shareholders.

After the Belgian Withholding Tax has been withheld, the net Dividend will be 611.34304 SA cents per share. This
withholding tax is reduced to 15% in terms of the double tax treaty in force between Belgium and South Africa. A rebate
of the additional Belgian Withholding Tax of 15% which is withheld in Belgium must be claimed by SA shareholders in
accordance with the relevant reimbursement process noted in the announcement published on SENS on Thursday,
25 February 2021.

The Dividend may also be subject to SA Dividends Tax at the rate of 20%, unless a shareholder qualifies for an
exemption. Any shareholder that receives a Dividend which is subject to SA Dividends Tax (i.e. where no exemption is
available) will qualify for a 15% rebate from SA Dividends Tax, being the Belgian Withholding Tax of 15%.

The ultimate result is that the Dividend will be subject to a reduced Belgian Withholding Tax rate of 15% and subject to
SA Dividends Tax at a rate of 5% (unless a shareholder qualifies for an exemption from SA Dividends Tax, in which
case only Belgian Withholding Tax of 15% will be applicable).


                                                                                                            ZAR cents
 Gross amount of the Dividend                                                                               873.34720
 Less: 30% Belgian Withholding Tax                                                                          262.00416
 Net Dividend after the deduction of the Belgian Withholding Tax                                            611.34304
 Less: 5% SA Dividends Tax                                                                                   43.66736
 Net amount of the Dividend                                                                                 567.67568

The proposed timetable for the Dividend is as follows:
                                                                                                               2021
 Last day to trade on Johannesburg Stock Exchange (JSE) to qualify for the                              Tuesday, 4 May
 Dividend
 Ex-Dividend on Euronext from commencement of trading on                                                Tuesday, 4 May
 Ex-Dividend on JSE from commencement of trading on                                                   Wednesday, 5 May
 Record date (Euronext)                                                                               Wednesday, 5 May
 Dividend payable (Euronext)                                                                           Thursday, 6 May
 Record date (JSE)                                                                                       Friday, 7 May
 Dividend payable (JSE)                                                                                  Monday, 10 May

No transfers of shareholdings to and from South Africa will be permitted between Tuesday, 4 May 2021 and Friday,
7 May 2021 (both dates inclusive). No dematerialisation or rematerialisation orders will be permitted between
Wednesday, 5 May 2021 and Friday, 7 May 2021 (both dates inclusive).

The Dividend is payable in SA Rand to shareholders whose shares are traded on the JSE and held through Central
Securities Participants and brokers. Shareholders who are in any doubt as to their tax position should seek independent
professional advice.


3 May 2021

JSE Sponsor:
Questco Corporate Advisory Proprietary Limited

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).

Date: 03-05-2021 10:06:00
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