Shareholder Structure | AB InBev

Shareholders’ structure at 31 December 2021 based on (i) transparency declarations made by shareholders who are compelled to disclose their shareholdings pursuant to the Belgian law of 2 May 2007 on the notification of significant shareholdings and the Articles of Association of the company, (ii) notifications made by such shareholders to the company on a voluntary basis prior to 31 December 2021 for the purpose of updating the above information, and (iii) notifications received by the company in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014, and (iv) information included in public filings with the US Securities and Exchange Commission.

Holding percentages are calculated on the basis of the total number of shares in issue, excluding treasury shares (1,981,024,587).

The company’s share capital is divided in two categories of shares: all shares are ordinary shares (the Ordinary Shares), except for the restricted shares which were issued as part of the combination with SAB and remain outstanding from time to time (the Restricted Shares). Since 11 October 2021, the Restricted Shares are convertible at the election of their holders into new Ordinary Shares on a one-for-one basis. Following conversion requests made until 31 December 2021, as of 1 January 2022, 282,106,366 Restricted Shares remain outstanding compared to the 1,737,135,607 outstanding Ordinary Shares. As of that date, Ordinary Shares represented 86.03% of the capital while Restricted Shares represented 13.97% of the capital. Ordinary Shares and Restricted Shares have the same rights except as set out in the Articles of Association. Restricted Shares shall always be in registered form and shall not be listed or admitted to trading on any stock market.

Altria holds 65.6 % of the restricted shares representing 9.34 % of the total number of AB InBev shares excluding treasury shares as at 31 December 2021. In addition, Altria announced in its Schedule 13D beneficial ownership report on 11 October 2016 that, following completion of the business combination with SAB, it purchased 11,941,937 Ordinary Shares in the company. Finally, Altria further increased its position of Ordinary Shares in the company to 12,341,937, as disclosed in the Schedule 13 D beneficial ownership report filed by Stichting dated 1 November 2016, implying an aggregate ownership of 9.97% based on the number of shares with voting rights as at 31 December 2021.

Bevco holds 34.3% of the restricted shares representing 4.89% of the total number of AB InBev shares excluding treasury shares as at 31 December 2021. In addition, Bevco announced in a notification made on 17 January 2017 in accordance with the Belgian law of 2 May 2007 on the notification of significant shareholdings, that it purchased 4,215,794 Ordinary Shares in the company. BEVCO Lux Sàrl disclosed to us that it increased its position of Ordinary Shares in the company to an aggregate of 6,000,000 Ordinary Shares, resulting in an aggregate ownership of 5.19% based on the number of shares with voting rights as at 31 December 2021.

A Shareholders Agreement between EPS, EPS Participations, BRC and Stichting Anheuser-Busch InBev provides for equal voting and control rights of BRC and EPS over Stichting Anheuser-Busch InBev and, indirectly, over Anheuser-Busch InBev shares held by it.

The Stichting Anheuser-Busch InBev, BRC, EPS, EPS Participations, Rayvax, Sébastien Holding, Fonds Baillet Latour and Fonds Voorzitter Verhelst act in concert within the meaning of article 3, 13° of the Belgian Law of 2 May 2007 on the notification of significant shareholdings. BR Global Investments GP, Santa Venerina, Olia 2 AG and LTS Trading Company act in concert with the aforementioned entities within the meaning of article 3, §2 of the Belgian Law of 1 April 2007 on public take-over bids.

See annual report for individual shareholdings by the above entities.