Corporate Governance Documents

Anheuser-Busch InBev is committed to achieving the highest standards of corporate governance. For the Company, the issue is two-fold. Corporate governance concerns both the effectiveness and the accountability of its Board of Directors (the Board).

Effectiveness, and therefore the quality of leadership and direction that the Board provides, is measured by performance which is ultimately reflected in enhanced shareholder value.

Accountability, including all the issues surrounding disclosure and transparency, is what provides legitimacy to the Board’s actions. Shareholders elect directors to run the Company on their behalf and the Board is accountable to shareholders for its actions.

As a Company incorporated under Belgian law and listed on Euronext Brussels, AB InBev adheres to most of the principles and provisions of the 2020 Belgian Corporate Governance Code, taking into account its specific status as a multinational group with secondary listings in Mexico and Johannesburg. Further to the New York Stock Exchange listing of ADS’s representing ordinary shares of AB InBev, the New York Stock Exchange Corporate Governance rules for Foreign Private Issuers are applicable to the Company. According to these rules, the Company discloses in item 16G of its annual report on Form 20-F any significant ways in which its corporate governance practices differ from those followed by domestic companies listed on the NYSE. AB InBev has also registered under the U.S. Securities Exchange Act of 1934, as amended. As a result, it is subject to the Sarbanes-Oxley Act of 2002 and to certain U.S. Securities laws and regulations relating to corporate governance.

The AB InBev rules of corporate governance have been established by the Board to reinforce its standards for the Company. As part of these rules, the Company has adopted a Code of Business Conduct (supplemented by related policies, including a global anti-corruption policy) and a code of share dealing.

The corporate governance charter aims at providing a transparent disclosure of the Company’s governance, which is further detailed in the Company’s articles of association (Bylaws). The Charter will be periodically reviewed and updated as required.

In addition, the Company will include in its annual report a corporate governance statement with factual information with respect to its corporate governance and relevant modifications thereto, together with details of executive remuneration and of relevant events that took place during the year