World: AB InBev completes repurchase of its shared from Altria

Anheuser-Busch InBev SA/NV announced on March 19 the completion of its repurchase of 3,335,417 Ordinary Shares from Altria (the 'Direct Share Buyback'). The aggregate purchase price for the Direct Share Buyback was $200 million, at a price per share of $59.9625 (54.76575). It is AB InBev's current intention to hold the repurchased shares as treasury shares to fulfil share delivery commitments.

The Direct Share Buyback was made alongside the closing of the previously announced secondary underwritten global offering (the 'Global Offering') by Altria Group Inc. ('Altria') of a total of 35 million AB InBev existing ordinary shares ('Ordinary Shares'), including 12.25 million Ordinary shares represented by American depositary shares, each representing one Ordinary Share ('ADSs', and together with the Ordinary Shares, the 'Securities'), at a price to the public of 56.17 per Ordinary Share and $61.50 per ADS.

In addition, Altria has granted the underwriters a 30-day option (from 14 March 2024) to purchase up to an additional 5.25 million Ordinary Shares represented by ADSs from Altria. Altria has also agreed to a 180-day lockup (from 14 March 2024) of its remaining AB InBev shares.

Altria received all of the net proceeds from the Global Offering. No Securities were sold by AB InBev.

Following settlement of the Global Offering and the Direct Share Buyback, Altria's stake in AB InBev has been reduced from approximately 10.0% to approximately 8.1%. If the underwriters fully exercise their option to purchase additional Securities, Altria's stake in AB InBev will be further reduced to approximately 7.8%.

As of 19 March 2024:
• the total number of shares issued by AB InBev with rights to vote is 1,971,017,728 shares (excluding treasury shares); and
• AB InBev holds 48,224,245 shares in treasury.

Morgan Stanley acted as the lead underwriter for the Global Offering. J.P. Morgan also acted as an active underwriter for the Global Offering. Barclays, Citigroup, Deutsche Bank Securities and Goldman Sachs acted as joint underwriters for the Global Offering. Mizuho, Santander, Scotiabank and Wells Fargo Securities acted as co-managers for the Global Offering.

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