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. 31
AB InBev shareholders are referred to the announcement published on the Stock Exchange News Service of the
Johannesburg Stock Exchange (“JSE”) (“SENS”) on Thursday, 2 March 2023 and are advised that the final dividend of
€0.75 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, 26 April 2023.

The exchange rate applicable for the conversion of Euro to SA Rand for the Dividend will be €1.00 to ZAR 20.2184310,
as calculated at the close of business on Thursday, 27 April 2023. Accordingly, the gross amount of the Dividend is
1,516.38233 SA cents per share and will be subject to a Belgian Withholding Tax of 30% (equalling 454.91470 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 1,061.46763 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, 2
March 2023.

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                                                                             1,516.38233
 Less: 30% Belgian Withholding Tax                                                                          454.91470
 Net Dividend after the deduction of the Belgian Withholding Tax                                          1,061.46763
 Less: 5% SA Dividends Tax                                                                                   75.81912
 Net amount of the Dividend                                                                                 985.64851




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The proposed timetable for the Dividend is as follows:
                                                                                                                    2023
 Last day to trade on Johannesburg Stock Exchange (JSE) to qualify for the Dividend                      Friday, 28 April
 Last day to trade on Euronext to qualify for the Dividend                                              Tuesday, 2 May
 Ex-Dividend on JSE from commencement of trading on                                                     Tuesday, 2 May
 Ex-Dividend on Euronext from commencement of trading on                                              Wednesday, 3 May
 Record date (Euronext and JSE)                                                                        Thursday, 4 May
 Dividend payable (Euronext and JSE)                                                                       Friday, 5 May

No transfers of shareholdings to and from South Africa will be permitted between Friday, 28 April 2023 and Thursday,
4 May 2023 (both dates inclusive). No dematerialisation or rematerialisation orders will be permitted between Tuesday,
2 May 2023 and Thursday, 4 May 2023 (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.



ANHEUSER-BUSCH INBEV CONTACTS
Investors                                                 Media
Shaun Fullalove                                           Kate Laverge
Tel. : +1 212 573 9287                                    Tel. : +1 917 940 7421
E-mail : shaun.fullalove@ab-inbev.com                     E-mail : kate.laverge@ab-inbev.com

Maria Glukhova                                            Ana Zenatti
Tel. : +32 16 276 888                                     Tel. : +1 646 249 5440
E-mail : maria.glukhova@ab-inbev.com                      E-mail : ana.zenatti@ab-inbev.com

Cyrus Nentin
Tel : +1 646 746 9673
E-mail : cyrus.nentin@ab-inbev.com


28 April 2023
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).




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