Notice of Currency Exchange Rate Dividend No. 23 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. 23 Shareholders of AB InBev are referred to the announcement published on the Stock Exchange News Service of the JSE (“SENS”) on 26 October 2017 wherein it was announced that the board of directors of AB InBev approved an interim dividend of €1.60 per ordinary share for the fiscal year 2017 (the “Dividend”). The exchange rate applicable for the conversion of Euro to South African Rand is ZAR 16.979513: €1.00. Accordingly, the gross amount of the Dividend equates to 2716.72208 South African cents. The gross amount of the Dividend will be subject to a Belgian Withholding Tax of 30%. Such withholding tax may be 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 imposed must be claimed in accordance with the relevant reimbursement process noted in the announcement published on SENS on 26 October 2017. The Dividend will also be subject to South African Dividends Tax at the rate of 20%, unless a shareholder qualifies for an exemption. Any shareholder who receives a Dividend which is subject to South African Dividends Tax (i.e. where no exemption is available) will qualify for a 15% reduction in dividends tax. The ultimate result in such a case is that the Dividend will be subject to a reduced Belgian Withholding Tax rate of 15% and subject to South African Dividends Tax at a rate of 5%. Belgian Withholding Tax at the rate of 30% (equalling 815.01662 South African cents per ordinary share) and South African Dividends Tax at a rate of 5% (equalling 135.83610 South African cents per ordinary share) will be withheld from the gross Dividend paid to shareholders. After the Belgian Withholding Tax and the South African Dividends Tax have been withheld, the net Dividend will be 1765.86935 South African cents per ordinary share. Any shareholder who is in any doubt as to their tax position should seek independent professional advice. The salient dates are set out below for ease of reference. 2017 Last day to trade on the JSE to qualify for the Dividend Tuesday, 14 November Ex-Dividend on Euronext from the commencement of trading on Tuesday, 14 November Ex-Dividend on the JSE from commencement of trading on Wednesday, 15 November Record date on Euronext Wednesday, 15 November Dividend payable (Euronext) Thursday, 16 November Record date on the JSE Friday, 17 November Dividend payable (South Africa) Monday, 20 November No transfers of shareholdings to and from South Africa will be permitted between Tuesday, 14 November 2017 and Friday, 17 November 2017 (both dates inclusive). The Dividend is payable in South African Rand to shareholders whose shares are held through Central Securities Participants and brokers traded on the JSE. Please direct any queries to the Company’s Transfer Secretaries in South Africa: Computershare Investor Services (Pty) Limited 15 Biermann Avenue, Rosebank, 2196 South Africa (PO Box 61051, Marshalltown, 2107, South Africa Telephone +27 11 370 5000 Facsimile +27 11 688 5200 Email enquiries: web.queries@computershare.co.za 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 14 November 2017 Sponsor: Deutsche Securities SA Proprietary Limited Date: 14/11/2017 09:32:00 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 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 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.