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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”)
Disclosure Made According to the
Requirements of the Law of 2 May 2007
Regulated information1
1 October 2025 – Anheuser-Busch InBev (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE:ANH) (“AB InBev”)
(“the Company”) announces today, in accordance with article 14, first paragraph of the Law of 2 May 2007, that it
received two transparency notifications from BlackRock, Inc.: one dated 26 September 2025 and one dated 30
September 2025, in accordance with articles 6 and 18 of the Law of 2 May 2007.
The percentage of total voting rights held by BlackRock, Inc. has first crossed upwards the threshold of 3% on
25 September 2025, as a result of acquisitions of voting securities or voting rights in the Company. Then the
percentage of total voting rights held by BlackRock, Inc. has crossed downwards the threshold of 3% on
29 September 2025, as a result of disposals of voting securities or voting rights in the Company.
The transparency notification dated 26 September 2025 contains the following information:
1. Date notification: Notification dated 26 September 2025.
2. Reason for the notification: Acquisition or disposal of voting securities or voting rights. Acquisition or
disposal of financial instruments that are treated as voting securities.
3. Notification by: A parent undertaking or controlling person.
4. Persons subject to the notification obligation:
Name Address (for legal entities)
BlackRock, Inc. 50 Hudson Yards, New York, NY, 10001, U.S.A.
BlackRock (Singapore) Limited 20 Anson Road #18-01, Singapore, 79912, Singapore
BlackRock Advisors (UK) Limited 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
BlackRock Advisors, LLC 50 Hudson Yards, New York, NY, 10001, U.S.A.
161 Bay Street, Suite 2500, Toronto, Ontario, M5J 2S1,
BlackRock Asset Management Canada Limited
Canada
BlackRock Asset Management Deutschland AG Lenbachplatz 1 1st Floor, Munich, 80333-MN3, Germany
15/F, 16/F, 17/F Citibank Tower & 17/F ICBC Tower, 3
BlackRock Asset Management North Asia Limited
Garden Road, Central, Hong Kong
BlackRock Capital Management, Inc. 100 Bellevue Parkway, Wilmington, 19809, U.S.A.
BlackRock Financial Management, Inc. 50 Hudson Yards, New York, NY, 10001, U.S.A.
BlackRock Fund Advisors 400 Howard Street, San Francisco, CA, 94105, U.S.A.
BlackRock Institutional Trust Company, National
400 Howard Street, San Francisco, CA, 94105, U.S.A.
Association
BlackRock Investment Management (Australia) Level 37 Chifley Tower, 2 Chifley Square, Sydney NSW
Limited 2000, Australia
BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
BlackRock Investment Management, LLC 1 University Square Drive, Princeton, NJ, 8540, U.S.A.
1-8-3 Marunouchi Chiyoda-ku, Trust Tower Main, Tokyo,
BlackRock Japan Co., Ltd.
100-8217, Japan
Aperio Group, LLC 3 Harbor Dr Suite 204, Sausalito, CA 94965, U.S.A.
Corporation Service Company, 251 Little Falls Drive,
SpiderRock Advisors, LLC
Wilmington, DE 19808, U.S.A.
5. Date of transaction: 25 September 2025
6. Threshold that is crossed (in %): 3
7. Denominator: 2,019,241,973
ab-inbev.com 1
1The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the
duties of issuers of financial instruments which have been admitted for trading on a regulated market.
8. Details:
A) Voting rights Previous notification After the transaction
# of voting rights # of voting rights % of voting rights
Not linked Not linked to
Linked to
Holders of voting rights Linked to securities to the the
securities
securities securities
BlackRock, Inc. 0 0 0.00%
BlackRock (Singapore) Limited 324,595 62,000 0.00%
BlackRock Advisors (UK)
13,654,533 16,475,359 0.82%
Limited
BlackRock Advisors, LLC 794,787 781,065 0.04%
BlackRock Asset Management
1,160,120 1,171,800 0.06%
Canada Limited
BlackRock Asset Management
3,907,746 3,797,750 0.19%
Deutschland AG
BlackRock Asset Management
23,858 23,858 0.00%
North Asia Limited
BlackRock Capital Management,
0 191 0.00%
Inc.
BlackRock Financial
311,338 154,802 0.01%
Management, Inc.
BlackRock Fund Advisors 18,147,156 17,947,169 0.89%
BlackRock Institutional Trust
12,287,842 12,343,803 0.61%
Company, National Association
BlackRock Investment
480,595 454,692 0.02%
Management (Australia) Limited
BlackRock Investment
5,096,324 3,090,105 0.15%
Management (UK) Limited
BlackRock Investment
674,312 666,526 0.03%
Management, LLC
BlackRock Japan Co., Ltd. 1,255,534 1,651,665 0.08%
Aperio Group, LLC 35,640 35,685 0.00%
Subtotal 58,154,380 58,656,470 2.90%
TOTAL 58,656,470 2.90%
B) Equivalent financial
After the transaction
instruments
# of voting rights
Type of Exercise that may be % of
Holders of equivalent Expiration
financial period acquired if the voting Settlement
financial instruments date
instrument or date instrument is rights
exercised
BlackRock Financial Contract for
649,640 0.03% cash
Management, Inc. Difference
BlackRock Institutional Trust Contract for
604,583 0.03% cash
Company, National Association Difference
BlackRock Investment Contract for
1,092 0.00% cash
Management (UK) Limited Difference
BlackRock Investment Contract for
7,750 0.00% cash
Management, LLC Difference
BlackRock Advisors (UK) Depositary
191,319 0.01%
Limited Receipt
BlackRock Institutional Trust Depositary
4,149 0.00%
Company, National Association Receipt
Depositary
Aperio Group, LLC 991,417 0.05%
Receipt
ab-inbev.com 2
Depositary
SpiderRock Advisors, LLC 391 0.00%
Receipt
TOTAL 2,450,341 0.12%
% of
TOTAL (A & B) # of voting rights voting
rights
61,106,811 3.03%
9. Chain of controlled entities through which the shareholding is effectively held: Included in annex.
10. Additional information: The disclosure obligation arose due to total holdings in voting rights for
BlackRock, Inc. going above 3%.
The transparency notification dated 30 September 2025 contains the following information:
1. Date notification: Notification dated 30 September 2025.
2. Reason for the notification: Acquisition or disposal of voting securities or voting rights. Acquisition or
disposal of financial instruments that are treated as voting securities. Downward crossing of the lowest
threshold.
3. Notification by: A parent undertaking or controlling person.
4. Persons subject to the notification obligation:
Name Address (for legal entities)
BlackRock, Inc. 50 Hudson Yards, New York, NY, 10001, U.S.A.
BlackRock (Singapore) Limited 20 Anson Road #18-01, Singapore, 79912, Singapore
BlackRock Advisors (UK) Limited 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
BlackRock Advisors, LLC 50 Hudson Yards, New York, NY, 10001, U.S.A.
161 Bay Street, Suite 2500, Toronto, Ontario, M5J 2S1,
BlackRock Asset Management Canada Limited
Canada
BlackRock Asset Management Deutschland AG Lenbachplatz 1 1st Floor, Munich, 80333-MN3, Germany
15/F, 16/F, 17/F Citibank Tower & 17/F ICBC Tower, 3
BlackRock Asset Management North Asia Limited
Garden Road, Central, Hong Kong
BlackRock Financial Management, Inc. 50 Hudson Yards, New York, NY, 10001, U.S.A.
BlackRock Fund Advisors 400 Howard Street, San Francisco, CA, 94105, U.S.A.
BlackRock Institutional Trust Company, National
400 Howard Street, San Francisco, CA, 94105, U.S.A.
Association
BlackRock Investment Management (Australia) Level 37 Chifley Tower, 2 Chifley Square, Sydney NSW
Limited 2000, Australia
BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
BlackRock Investment Management, LLC 1 University Square Drive, Princeton, NJ, 8540, U.S.A.
1-8-3 Marunouchi Chiyoda-ku, Trust Tower Main, Tokyo,
BlackRock Japan Co., Ltd.
100-8217, Japan
Aperio Group, LLC 3 Harbor Dr Suite 204, Sausalito, CA 94965, U.S.A.
Corporation Service Company, 251 Little Falls Drive,
SpiderRock Advisors, LLC
Wilmington, DE 19808, U.S.A.
5. Date of transaction: 29 September 2025
6. Threshold that is crossed (in %): 3
7. Denominator: 2,019,241,973
8. Details:
A) Voting rights Previous notification After the transaction
# of voting rights # of voting rights % of voting rights
Not linked Not linked to
Linked to
Holders of voting rights Linked to securities to the the
securities
securities securities
BlackRock, Inc. 0 0 0 0.00% 0.00%
BlackRock (Singapore) Limited 62,000 62,000 0 0.00% 0.00%
BlackRock Advisors (UK)
16,475,359 14,274,355 0 0.71% 0.00%
Limited
ab-inbev.com 3
BlackRock Advisors, LLC 781,065 783,776 0 0.04% 0.00%
BlackRock Asset Management
1,171,800 1,171,837 0 0.06% 0.00%
Canada Limited
BlackRock Asset Management
3,797,750 3,779,950 0 0.19% 0.00%
Deutschland AG
BlackRock Asset Management
23,858 23,858 0 0.00% 0.00%
North Asia Limited
BlackRock Capital Management,
191 0 0 0.00% 0.00%
Inc.
BlackRock Financial
154,802 144,073 0 0.01% 0.00%
Management, Inc.
BlackRock Fund Advisors 17,947,169 17,931,267 0 0.89% 0.00%
BlackRock Institutional Trust
12,343,803 12,338,337 0 0.61% 0.00%
Company, National Association
BlackRock Investment
454,692 454,731 0 0.02% 0.00%
Management (Australia) Limited
BlackRock Investment
3,090,105 2,942,709 0 0.15% 0.00%
Management (UK) Limited
BlackRock Investment
666,526 666,655 0 0.03% 0.00%
Management, LLC
BlackRock Japan Co., Ltd. 1,651,665 1,244,493 0 0.06% 0.00%
Aperio Group, LLC 35,685 35,685 0 0.00% 0.00%
Subtotal 58,656,470 55,853,726 0 2.77% 0.00%
TOTAL 55,853,726 0 2.77% 0.00%
B) Equivalent financial
After the transaction
instruments
# of voting rights
Type of Exercise that may be % of
Holders of equivalent Expiration
financial period acquired if the voting Settlement
financial instruments date
instrument or date instrument is rights
exercised
BlackRock Financial Contract for
646,617 0.03% cash
Management, Inc. Difference
BlackRock Institutional Trust Contract for
607,904 0.03% cash
Company, National Association Difference
BlackRock Investment Contract for
1,092 0.00% cash
Management (UK) Limited Difference
BlackRock Investment Contract for
7,750 0.00% cash
Management, LLC Difference
BlackRock Advisors (UK) Depositary
319,572 0.02%
Limited Receipt
BlackRock Institutional Trust Depositary
4,149 0.00%
Company, National Association Receipt
Depositary
Aperio Group, LLC 993,317 0.05%
Receipt
Depositary
SpiderRock Advisors, LLC 391 0.00%
Receipt
TOTAL 2,580,792 0.13%
% of
TOTAL (A & B) # of voting rights voting
rights
58,434,518 2.89%
9. Chain of controlled entities through which the shareholding is effectively held: Included in annex.
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10. Additional information: The disclosure obligation arose due to total holdings in voting rights for BlackRock,
Inc. going below 3%.
Notifications of significant shareholdings to be made according to the Law of 2 May 2007 or AB InBev’s bylaws,
should be sent to jan.vandermeersch@ab-inbev.com.
This press release can be consulted on AB InBev's website via this link www.ab-inbev.com.
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 144 000 colleagues based in nearly 50 countries worldwide. For 2024, AB InBev’s
reported revenue was 59.8 billion USD (excluding JVs and associates).
Anheuser-Busch InBev Contacts
Investors Media
Shaun Fullalove Media Relations
E-mail: shaun.fullalove@ab-inbev.com E-mail: Media.Relations@ab-inbev.com
Ekaterina Baillie
E-mail: ekaterina.baillie@ab-inbev.com
Cyrus Nentin
E-mail: cyrus.nentin@ab-inbev.com
2 October 2025
JSE Sponsor: Questco Corporate Advisory Proprietary Limited
ab-inbev.com 5
Annex: Full chain of controlled undertakings through which the holding is effectively held, if applicable:
BlackRock, Inc. BlackRock, Inc. BlackRock, Inc.
BlackRock Saturn Subco, LLC BlackRock Saturn Subco, LLC BlackRock Saturn Subco, LLC
BlackRock Finance, Inc. BlackRock Finance, Inc. BlackRock Finance, Inc.
BlackRock Holdco 2, Inc. BlackRock Holdco 2, Inc. BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc. BlackRock Financial Management, Inc. BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc. BlackRock Holdco 4, LLC BlackRock Capital Holdings, Inc.
BR Jersey International Holdings L.P. BlackRock Holdco 6, LLC BlackRock Advisors, LLC
BlackRock (Singapore) Holdco Pte. BlackRock Delaware Holdings Inc.
Ltd. BlackRock Fund Advisors BlackRock, Inc.
BlackRock HK Holdco Limited BlackRock Saturn Subco, LLC
BlackRock Lux Finco S.a.r.l. BlackRock, Inc. BlackRock Finance, Inc.
BlackRock Japan Holdings GK BlackRock Saturn Subco, LLC BlackRock Holdco 2, Inc.
BlackRock Japan Co., Ltd. BlackRock Finance, Inc. BlackRock Financial Management, Inc.
BlackRock Holdco 2, Inc. BlackRock International Holdings, Inc.
BlackRock, Inc. BlackRock Financial Management, Inc. BR Jersey International Holdings L.P.
BlackRock Saturn Subco, LLC BlackRock Holdco 3, LLC
BlackRock Finance, Inc. BlackRock, Inc. BlackRock Cayman 1 LP
Trident Merger, LLC BlackRock Saturn Subco, LLC BlackRock Cayman West Bay Finco
BlackRock Investment Management, BlackRock Finance, Inc. Limited
LLC BlackRock Holdco 2, Inc. BlackRock Cayman West Bay IV
BlackRock Financial Management, Inc. Limited
BlackRock, Inc. BlackRock Capital Holdings, Inc. BlackRock Group Limited
BlackRock Saturn Subco, LLC BlackRock Advisors, LLC BlackRock Finance Europe Limited
BlackRock Finance, Inc. BlackRock Capital Management, Inc. BlackRock Advisors (UK) Limited
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc. BlackRock, Inc. BlackRock, Inc.
BlackRock International Holdings, Inc. BlackRock Saturn Subco, LLC BlackRock Saturn Subco, LLC
BR Jersey International Holdings L.P. BlackRock Finance, Inc. BlackRock Finance, Inc.
BlackRock Holdco 3, LLC BlackRock Holdco 2, Inc. BlackRock Holdco 2, Inc.
BlackRock Cayman 1 LP BlackRock Financial Management, Inc. BlackRock Financial Management, Inc.
BlackRock Cayman West Bay Finco BlackRock International Holdings, Inc. BlackRock International Holdings, Inc.
Limited BR Jersey International Holdings L.P. BR Jersey International Holdings L.P.
BlackRock Cayman West Bay IV BlackRock (Singapore) Holdco Pte. BlackRock (Singapore) Holdco Pte.
Limited Ltd. Ltd.
BlackRock Group Limited BlackRock HK Holdco Limited BlackRock (Singapore) Limited
BlackRock Finance Europe Limited BlackRock Asset Management North
BlackRock Investment Management Asia Limited BlackRock, Inc.
(UK) Limited BlackRock Saturn Subco, LLC
BlackRock, Inc. BlackRock Finance, Inc.
BlackRock, Inc. BlackRock Saturn Subco, LLC Trident Merger, LLC
BlackRock Saturn Subco, LLC BlackRock Finance, Inc. BlackRock Investment Management,
BlackRock Finance, Inc. BlackRock Holdco 2, Inc. LLC
BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. Amethyst Intermediate, LLC
BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. Aperio Holdings, LLC
BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. Aperio Group, LLC
BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC
BlackRock Australia Holdco Pty. Ltd. BlackRock Cayman 1 LP BlackRock, Inc.
BlackRock Investment Management BlackRock Cayman West Bay Finco BlackRock Saturn Subco, LLC
(Australia) Limited Limited BlackRock Finance, Inc.
BlackRock Cayman West Bay IV Trident Merger, LLC
BlackRock, Inc. Limited Web Holdings, LLC
BlackRock Saturn Subco, LLC BlackRock Group Limited SpiderRock Advisors, LLC
BlackRock Finance, Inc. BlackRock Finance Europe Limited
BlackRock Holdco 2, Inc. BlackRock (Netherlands) B.V.
BlackRock Financial Management, Inc. BlackRock Asset Management
BlackRock Holdco 4, LLC Deutschland AG
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc. BlackRock, Inc.
BlackRock Institutional Trust BlackRock Saturn Subco, LLC
Company, National Association BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BlackRock Canada Holdings ULC
BlackRock Asset Management Canada
Limited
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