AMBEV S.A.

CNPJ [National Register of Legal Entities] No. 07.526.557/0001-00 NIRE [Corporate Registration Identification Number] 35.300.368.941

(the "Company")

Extract of the Minutes of the Meeting of the Board of Directors of Ambev S.A.

held on March 18, 2021 drawn up in summary form

  • 1. Date, Time and Venue. On March 18, 2021, at 10:00 a.m., by videoconference, as authorized by article 19, paragraph 1st, of the Company's bylaws.

  • 2. Call and Attendance. Call notice duly given pursuant to the Company's bylaws.

    Meeting with attendance of Messrs. Victorio Carlos De Marchi and Carlos Alves de Brito, copresidents, and Messrs. Milton Seligman, Roberto Moses Thompson Motta, Antonio Carlos Augusto Ribeiro Bonchristiano, Nelson José Jamel and Marcos de Barros Lisboa.

  • 3. Board. Chairman: Victorio Carlos De Marchi; Secretary: Letícia Rudge Barbosa Kina.

  • 4. Resolutions: The Directors unanimously and unrestrictedly resolved:

    4.1. Resignation of an effective member of the Board of Directors. The Board of Directors acknowledged receipt of the resignation request presented by Mr. José Heitor Attilio Gracioso, effective as of March 8, 2021, informing his decision to resign from the Company's Board of Directors and, consequently, from the Related

    Parties and Antitrust Conducts Committee.

    The Board of Directors praised and thanked Mr. José Heitor Attilio Gracioso for his invaluable contribution to the Company's history of success, in more than 20 years as a board member.

    4.2. Election of an effective member of the Board of Directors. In view of Mr. José Heitor Attilio Gracioso's resignation, to elect Mr. Fabio Colletti Barbosa, Brazilian, married, business administrator, with business address in the city and State of São Paulo, at Praça General San Martin, No. 23, zip code 01439-030, bearer of identity card RG No. 5.654.446-7 (SSP/SP) and enrolled with the Individual Taxpayers' Registry under No. 771.733.258-20, for the position of effective member of the Board of Directors and member of the Related Parties and Antitrust Conducts Committee, effective as of the date hereof, with a term of office until the 2023 Annual Shareholders' Meeting, according to article 20 of the

    Company's bylaws.

4.3. Resignation of an effective member of the Board of Directors. The Board of Directors acknowledged receipt of the resignation request presented by Mr. Vicente Falconi Campos, effective from March 12, 2021, expressing his decision to resign from the Company's Board of Directors.

The Board of Directors praised and thanked Mr. Vicente Falconi Campos for his invaluable contribution to the Company's history of success, in more than 20 years as a board member.

4.4. Election of an effective member of the Board of Directors. In view of Mr.

Vicente Falconi Campos's resignation, to elect Mrs. Claudia Quintella Woods,

Brazilian, economist, with business address in the city and State of São Paulo, at Av. Presidente Juscelino Kubitschek, No. 1909, Torre Sul, 15th floor, zip code 04543-907, bearer of identity card RG No. 020.462.491-0 (DETRAN/RJ) and enrolled with the Individual Taxpayers' Registry under No. 098.823.117-41, for the position of effective member of the Board of Directors, in the capacity of Independent Member, effective as of the date hereof, with a term of office until the

2023 Annual Shareholders' Meeting, according to article 20 of the Company's bylaws.

4.5. Resignation of an effective member of the Board of Directors. The Board of Directors acknowledged receipt of the resignation request presented by Mrs. Cecília Sicupira, effective as of March 15, 2021, expressing her decision to resign from the Company's Board of Directors.

The Board of Directors praised and thanked Mrs. Cecília Sicupira for her important contribution to the Board of Directors in the last years.

4.6. Election of an effective member of the Board of Directors. In view of Mrs.

Cecília Sicupira's resignation, to elect Mrs. Lia Machado de Matos, Brazilian, in a stable union, physicist, with business address in the city and State of São Paulo, at Rua Fidêncio Ramos, No. 308, 10th floor, Vila Olimpia, zip code 04551-010, bearer of identity card RG No. 66707627-X (SSP/SP) and enrolled with the Individual Taxpayers' Registry under No. 071.991.147-88, for the position of effective member of the Board of Directors, effective as of the date hereof, with a term of office until the 2023 Annual Shareholders' Meeting, according to article 20 of the Company's bylaws.

4.7. Resignation of an effective member of the Board of Directors. The Board of Directors acknowledged receipt of the resignation request presented by Mr. Luis

Felipe Pedreira Dutra Leite, effective as of March 15, 2021, expressing his decisionto resign from the Company's Board of Directors and the Operations, Finance and

Compensation Committee.

The Board of Directors praised and thanked Mr. Luis Felipe Pedreira Dutra Leite for his fundamental participation in the Company's history of success.

4.8. Election of an effective member of the Board of Directors. In view of Mr.

Luis Felipe Pedreira Dutra Leite's resignation, to elect Mr. Fernando

Mommensohn Tennenbaum, Brazilian, married, production engineer, with business address in the city and State of New York, at 250 Park Avenue, zip code 10177, United States of America, bearer of identity card RG No. 18.433.610-7

(SSP/SP) and enrolled with the Individual Taxpayers' Registry under No.

245.809.418-02, for the position of effective member of the Board of Directors, effective as of the date hereof, with a term of office until the 2023 Annual

Shareholders' Meeting, according to article 20 of the Company's bylaws.

The newly elected members of the Board of Directors will start serving at their relevant positions upon the execution of the instruments of investiture to be registered in the appropriate corporate book, at which time they will execute statements confirming that there is no impediment to their election as required by Brazilian law.

4.9. Share buyback program. To approve, pursuant to article 30, Paragraph 1st, "b", of Law 6,404/76 and CVM Instruction 567/15, a share buyback program for the repurchase of shares issued by the Company up to the limit of 5,700,000 common shares, with the primary purpose of covering any share delivery requirements contemplated in the Company's share-based compensation plans or to be held in treasury, canceled and/or subsequently transferred, which will be in effect until September 18, 2022, as detailed in the Notice Regarding the Negotiation of Shares Issued by the Company, in the form of Exhibit 30-XXXVI of CVM Instruction No. 480/09 attached to these minutes, which is hereby approved by the Board for public disclosure. The Company has 4,357,308,131 outstanding shares as defined in CVM Instruction 567/15. The acquisition will occur as per a deduction of the capital reserve account recorded in the balance sheet dated as of December 31, 2020. The transaction will be carried out through one or more of the following financial institutions: UBS Brasil Corretora de Câmbio, Títulos e Valores Mobiliários S.A. (CNPJ No. 02.819.125/0001-73) and Itaú Corretora de Valores S.A. (CNPJ No. 61.194.353/0001-64).

The Board of Directors authorizes the Company's Executive Board of Officers to take any and all actions that may be required to implement the aforementioned resolutions (including those required pursuant to the Manual on Disclosure and Useof Information and Securities Trading Policy for Securities Issued by Company, particularly with respect to the trading of shares by related parties during the period in which the repurchase program is in effect), as well as determine the timing and number of shares issued by the Company to be acquired within the limits authorized above.

5.

Close. With no further matters to be discussed, the present Minutes were drawn up and duly executed.

São Paulo, March 18, 2021

/s/ Victorio Carlos De Marchi

/s/ Carlos Alves de Brito

/s/ Roberto Moses Thompson Motta

/s/ Marcos de Barros Lisboa

/s/ Antonio Carlos Augusto Ribeiro

/s/ Milton Seligman

Bonchristiano

/s/ Nelson José Jamel

/s/ Letícia Rudge Barbosa Kina

Secretary

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AmBev SA published this content on 18 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2021 00:11:00 UTC.