ANHEUSER-BUSCH INBEV SA/NV - AB InBev Announces Pricing of EUR 4 Billion Notes

AB InBev Announces Pricing of EUR 4 Billion Notes

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")

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN OR
AUSTRALIA

Access to this press release is granted on the condition that you have read, understood and accepted the following
terms.

Access to this press release in member states of the European Economic Area (the "EEA") is restricted to persons who
are "qualified investors" within the meaning of Regulation (EU) 2017/1129. In addition, in the United Kingdom (the "UK"),
access to this press release is restricted to persons who are "qualified investors" within the meaning of the Regulation (EU)
2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "EUWA") (the "UK
Prospectus Regulation"). In addition, in the United Kingdom, access to this press release is restricted to "qualified
investors" who are (a) persons who have professional experience in matters relating to investments falling within Article
19(1) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or
(b) high net worth entities falling within Article 49(1) of the Order, and other persons to whom it may otherwise lawfully be
communicated (all such persons together being referred to as "relevant persons"). This press release must not be acted
on or relied on in any member state of the EEA by persons who are not qualified investors. Any investment or investment
activity to which this press release relates is available only to qualified investors in any member state of the EEA. This
press release must not be acted on or relied on in the UK by persons who are not relevant persons. Any investment or
investment activity to which this press release relates is available only to relevant persons in the UK The Notes are not
being offered to the public in the UK. Each recipient also represents and agrees that it has complied and will comply with
all applicable provisions of the Financial Services Markets Act 2000, as amended, with respect to anything done by it in
relation to any Notes in, from or otherwise involving the UK. The Notes are not being offered to the public in the UK or in
the EEA.


AB InBev Announces Pricing of EUR 4 Billion
Notes

19 March 2024 - Anheuser-Busch InBev SA/NV ("AB InBev") (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH)
announced today the pricing of EUR 4 billion aggregate principal amount of notes (the "Notes") under AB InBev's Euro
Medium Term Note programme (the "Programme"). The Notes comprise the following series:

 Title of Securities            7.5-year 3.450% Notes            13-year 3.750% Notes            20-year 3.950% Notes
                                due 2031                         due 2037                        due 2044

 Aggregate principal            EUR 1,000,000,000                EUR 1,500,000,000               EUR 1,500,000,000
 amount

 Maturity date                  22 September 2031                22 March 2037                   22 March 2044


 Interest payment dates         Annually on 22 September         Annually on 22 March of       Annually on 22 March of
                                of each year, with short first   each year                     each year
                                coupon    payable    on    22
                                September 2024

 Interest Rate                  3.450%                           3.750%                        3.950%


The Notes will be issued by AB InBev and will be fully, unconditionally and irrevocably guaranteed by Anheuser-Busch
Companies, LLC, Anheuser-Busch InBev Worldwide Inc., Anheuser-Busch InBev Finance Inc., Brandbev S.à r.l.,
Brandbrew S.A. and Cobrew NV. The Notes will be senior, unsecured obligations of AB InBev and will rank equally with
all other existing and future unsecured and unsubordinated debt obligations of AB InBev.

The Notes will be issued on 22 March 2024.

The net proceeds of the issue of the Notes will be used for general corporate purposes, including the repayment of
upcoming debt maturities in 2024 and funding the previously announced cash tender offers for Anheuser-Busch InBev
Worldwide Inc.'s and AB InBev's notes maturing in 2026 to 2028.

It is expected that the Notes will be listed in due course on the regulated market of the London Stock Exchange.

English, Dutch and French versions of this press release will be available on www.ab-inbev.com.


Important Information
The Notes and the guarantees (together, the "Securities") have not been and will not be registered under the US Securities
Act of 1933, as amended (the "Securities Act") or any relevant securities laws of any state or other jurisdiction and may
not be offered or sold in the United States absent registration or an exemption from the registration requirements of the
Securities Act. Accordingly, the Securities are being offered only outside the US to non-US persons in reliance on
Regulation S under the Securities Act. There will be no public offer of the Securities in the United States.

This press release does not constitute an offer to sell or the solicitation of an offer to buy debt securities in the US or any
other jurisdiction.

MiFID II and UK MiFIR eligible counterparties and professional clients only. No EU PRIIPs or UK PRIIPs key information
document has been prepared as this offer is not available to retail in the EEA or the UK.

The distribution of this press release and other information in connection with the offer in certain jurisdictions may be
restricted by law and persons into whose possession any document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.

This press release is an advertisement and is not a prospectus for the purposes of the UK Prospectus Regulation. The
base prospectus dated 15 March 2024 published in connection with the Programme is available at https://www.rns-
pdf.londonstockexchange.com/rns/1097H_1-2024-3-15.pdf. The Final Terms, when published, will be available at
https://www.londonstockexchange.com/news?tab=today-s-news.



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

20 March 2024
JSE Sponsor: Questco Corporate Advisory Proprietary Limited

 About Anheuser-Busch InBev (AB 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.
                                                                     .






Date: 20-03-2024 08:02:00
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.