Anheuser Busch InBev : Announces Redemption of EUR 2.17 Billion Notes

Press release

Brussels / 21 September 2020 / 15:00 CET

Anheuser-Busch InBev Announces Redemption

of EUR 2.17 Billion Notes

Brussels, 21 September 2020 --Anheuser-Busch InBev SA/NV ("AB InBev") (Euronext: ABI) (NYSE:

BUD) (MEXBOL: ANB) (JSE: ANH) today announced that it is exercising its option to redeem the outstanding principal amounts indicated in the table below of the following series of notes (the "Notes") on

8 October 2020 (the "Redemption Date"):

				Aggregate Principal
		Aggregate Principal		Amount to be
Issuer		Amount Outstanding		Redeemed		Title of Series of Notes		ISIN
AB InBev		EUR 526,513,000		EUR 526,513,000		1.950% Notes due 2021		BE6265141083
			(the "2021 Notes")
AB InBev		EUR 1,644,076,000		EUR 1,644,076,000		0.875% Notes due 2022		BE6285452460
			(the "2022 Notes")

The Notes will be redeemed in accordance with their respective Conditions in full on the Redemption Date at a make-whole price equal to (i) the outstanding principal amount of the relevant Notes; or (ii) if higher, the sum, as determined by the Calculation Agent, of the present values of the remaining scheduled payments of principal and interest on the relevant Notes to be redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the Redemption Date on an annual basis (assuming a 360-day year consisting of twelve 30-day months) at the rate per annum equal to the equivalent yield to maturity of the CA Selected Bond calculated using a price for the CA Selected Bond (expressed as a percentage of its principal amount) equal to the Reference Bond Price for the Redemption Date plus 15 basis points (in respect of the 2021 Notes) or 20 basis points (in respect of the 2022 Notes) (the "Redemption Price"). The Redemption Price will be calculated on the third Business Day preceding the Redemption Date. Capitalized terms used in this paragraph have the meanings assigned to such terms in the respective Conditions of the Notes.

On the Redemption Date, (i) the Notes will no longer be deemed outstanding, (ii) the Redemption Price will become due and payable on the Notes, as applicable, and, (iii) unless AB InBev defaults in making payment of the Redemption Price, interest on the Notes called for redemption shall cease to accrue on and after the Redemption Date.

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Press release

Brussels / 21 September 2020 / 15:00 CET

The Domiciliary Agent is transmitting the notices of redemption to registered holders of the Notes, which contain information required by the respective Conditions of the Notes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

English, Dutch and French versions of this press release will be available on www.ab-inbev.com.

Legal Disclaimer

This release contains "forward-looking statements". These statements are based on the current expectations and views of future events and developments of the management of AB InBev and are naturally subject to uncertainty and changes in circumstances. The forward-looking statements contained in this release include statements other than historical facts and include statements typically containing words such as "will", "may", "should", "believe", "intends", "expects", "anticipates", "targets", "estimates", "likely", "foresees", "preparing" and words of similar import. All statements other than statements of historical facts are forward-looking statements. You should not place undue reliance on these forward-looking statements, which reflect the current views of the management of AB InBev, are subject to numerous risks and uncertainties about AB InBev and are dependent on many factors, some of which are outside of AB InBev's control. There are important factors, risks and uncertainties that could cause actual outcomes and results to be materially different, including, but not limited to, the effects of the COVID-19 pandemic and uncertainties about its impact and duration and the risks and uncertainties relating to AB InBev described under Item 3.D of AB InBev's Annual Report on Form 20-F ("Form 20-F") filed with the US Securities and Exchange Commission ("SEC") on 23 March 2020 and described in Exhibit 99.1 to AB InBev's Current Report on Form 6-K filed with the SEC on 4 August 2020. Many of these risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements.

The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including AB InBev's most recent Form 20-F and other reports furnished on Form 6-K, and any other documents that AB InBev has made public. Any forward-looking statements made in this communication are qualified in their entirety by these cautionary statements and there can be no assurance that the actual results or developments anticipated by AB InBev will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, AB InBev or its business or operations. Except as required by law, AB InBev undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Anheuser-Busch InBev

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). Our Dream is to bring people together for a better world. Beer, the original social network, has been bringing people together for thousands of years. We are committed to building great brands that stand the test of time and to brewing the best beers using the finest natural ingredients. Our diverse portfolio of well over 500 beer brands includes global brands Budweiser®, Corona® and Stella Artois®; multi-country brands Beck's®, Hoegaarden®, Leffe® and Michelob Ultra®; 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 170,000 employees based in nearly 50 countries worldwide. For 2019, AB InBev's reported revenue was 52.3 billion USD (excluding JVs and associates).

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	Brussels / 21 September 2020 / 15:00 CET
ANHEUSER-BUSCH INBEV CONTACTS
Investors	Media
Lauren Abbott	Ingvild Van Lysebetten
Tel: [phone]	Tel: [phone]
E-mail:[e-mail]	E-mail:[e-mail]
Maria Glukhova	Fallon Buckelew
Tel: [phone]	Tel: [phone]
E-mail:[e-mail]	E-mail:[e-mail]
Jency John	Fixed Income Investors
Tel: [phone]	Daniel Strothe
E-mail:[e-mail]	Tel: [phone]
	E-mail:[e-mail]

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