ANHEUSER-BUSCH INBEV SA/NV - Anheuser-Busch InBev Announces Redemption of EUR 2.1 Billion and AUD 650 Million

Anheuser-Busch InBev Announces Redemption of EUR 2.1 Billion and AUD 650 Million

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”)


Anheuser-Busch InBev Announces Redemption of EUR 2.1 Billion and AUD 650 Million
    
Brussels, 11 January 2021 -- Anheuser-Busch InBev SA/NV (“AB InBev”) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB)
(JSE: ANH) today announced that it and its wholly-owned subsidiary Anheuser-Busch InBev Worldwide Inc. (“ABIWW”, and
together with AB InBev, the “Issuers”) are exercising their respective options to redeem the outstanding principal amounts
indicated in the table below of the following series of notes on the dates indicated in the table below (any such date, a
“Redemption Date”):

                                       Aggregate Principal
            Aggregate Principal        Amount to be
Issuer      Amount Outstanding         Redeemed                 Title of Series of Notes      ISIN                  Redemption Date

AB InBev    EUR 2,147,217,000          EUR 2,147,217,000        1.500% Notes due 2025         BE6285454482          28 January 2021
                                                                (the “AB InBev Notes”)


                                                                3.750% Notes due 2024
ABIWW       AUD 650,000,000            AUD 650,000,000          (the “ABIWW Notes”, and       AU3CB0246668          27 January 2021
                                                                together with the AB InBev
                                                                Notes, the “Notes”)



The AB InBev Notes will be redeemed in accordance with the Conditions of the AB InBev Notes in full on the relevant
Redemption Date at a make-whole price equal to (i) the outstanding principal amount of the AB InBev Notes; or (ii) if
higher, the sum, as determined by the Calculation Agent, of the present values of the remaining scheduled payments of
principal and interest on the AB InBev Notes to be redeemed (not including any portion of such payments of interest
accrued to the date of redemption) discounted to the relevant Redemption Date on an annual basis (assuming a 360-
day year consisting of twelve 30-day months) at the rate per annum equal to the equivalent yield to maturity of the CA
Selected Bond calculated using a price for the CA Selected Bond (expressed as a percentage of its principal amount)
equal to the Reference Bond Price for the relevant Redemption Date plus 20 basis points (the "AB InBev Notes
Redemption Price"). The AB InBev Notes Redemption Price will be calculated on the third Business Day preceding the
relevant Redemption Date. Capitalized terms used in this paragraph have the meanings assigned to such terms in the
Conditions of the AB InBev Notes.


ab-inbev.com                                                                           Press release – 11 January 2021 – 1

The ABIWW Notes will be redeemed in full on the applicable Redemption Date at a redemption amount calculated by the
Calculation Agent, and equal to the greater of (a) the outstanding principal amount of the ABIWW Notes (plus accrued
and unpaid interest on the ABIWW Notes as at the relevant Redemption Date) and (b) (i) the present value at the relevant
Redemption Date of the outstanding principal amount of the ABIWW Notes plus (ii) the present value at the relevant
Redemption Date of all required interest payments that would otherwise be due to be paid on the ABIWW Notes from the
relevant Redemption Date through to the Maturity Date of the ABIWW Notes, in each case both (i) and (ii) discounted to
the relevant Redemption Date on a semi-annual basis (assuming a 365-day year) and at the Reinvestment Rate. The
Reinvestment Rate will be calculated on the third Business Day preceding the relevant Redemption Date. Such
redemption is pursuant to the terms of the Note Deed Poll, dated as of 12 May 2020, by and among ABIWW, AB InBev
and the Guarantors named therein (the “May 2020 Note Deed Poll”), the Pricing Supplement thereto, dated as of 5
September 2017, as amended and restated on 12 May 2020 (the “Pricing Supplement”), and the terms of the ABIWW
Notes. Capitalized terms used in this paragraph have the meanings assigned to such terms in the May 2020 Note Deed
Poll, the Pricing Supplement and the terms of the ABIWW Notes, as applicable.

On each applicable Redemption Date, (i) the Notes will no longer be deemed outstanding, (ii) the Redemption Price will
become due and payable on the Notes and, (iii) unless AB InBev or ABIWW, as applicable, defaults in making payment of
the Redemption Price, interest on the Notes called for redemption shall cease to accrue on and after the applicable
Redemption Date.

The Paying Agent and the Domiciliary Agent are transmitting to registered holders of the Notes the notices of redemption
containing information required by the May 2020 Note Deed Poll, the Pricing Supplement and the terms in the Conditions
of the AB InBev Notes, as applicable. For the redemption price of the AB InBev Notes, please contact BNP Paribas Fortis
(cmops.securitiesoperations.cb@bnpparibasfortis.com). For the redemption price of the ABIWW Notes please contact
Mark D. Cochrane (Mark.D.Cochrane@bnymellon.com), Michelle Reynolds (Michelle.Reynolds@bnymellon.com), Sarah
Hickey (Sarah.Hickey@bnymellon.com) and BNYM_CT_Aus_RMG@bnymellon.com at BNY Mellon.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be
any 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.

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


ab-inbev.com                                                                               Press release – 11 January 2021 – 2

ANHEUSER-BUSCH INBEV CONTACTS
Investors                                                                Media
Lauren Abbott                                                            Ingvild Van Lysebetten
Tel. : +1 212 573 9287                                                   Tel. : +32 16 276 608
E-mail : lauren.abbott@ab-inbev.com                                      E-mail : ingvild.vanlysebetten@ab-inbev.com

Maria Glukhova                                                           Fallon Buckelew
Tel. : +32 16 276 888                                                    Tel. : +1 310 592 6319
E-mail : maria.glukhova@ab-inbev.com                                     E-mail : fallon.buckelew@ab-inbev.com


Jency John                                                               Fixed Income Investors
Tel: +1 646 746 9673                                                     Daniel Strothe
E-mail: jency.john@ab-inbev.com                                          Tel: +1 646 746 9667
                                                                         E-mail: daniel.strothe@ab-inbev.com

11 January 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).

About Anheuser-Busch InBev
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). Our
Dream is to bring people together for a better world. Beer, the original social network, has been bringing people together for thousands of years.
We are committed to building great brands that stand the test of time and to brewing the best beers using the finest natural ingredients. Our
diverse portfolio of well over 500 beer brands includes global brands Budweiser®, Corona® and Stella Artois®; multi-country brands Beck’s®,
Hoegaarden®, Leffe® and Michelob Ultra®; 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 170,000 employees based in nearly 50 countries worldwide. For 2019, AB InBev’s reported revenue was 52.3 billion
USD (excluding JVs and associates).




ab-inbev.com                                                                                               Press release – 11 January 2021 – 3
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”, “preparing” 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 effects of the COVID-19
pandemic and uncertainties about its impact and duration and the risks and uncertainties relating to AB InBev described under Item 3.D of AB
InBev’s Annual Report on Form 20-F (“Form 20-F”) filed with the US Securities and Exchange Commission (“SEC”) on 23 March 2020 and described
in Exhibit 99.1 to AB InBev’s Current Report on Form 6-K filed with the SEC on 29 October 2020. Many of these risks and uncertainties are, and
will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result. 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.




ab-inbev.com                                                                                                  Press release – 11 January 2021 – 4

Date: 11-01-2021 12:01:00
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.