Ambev Sa · BMFBOVESPA:ABEV3

Ambev Sa — Q2 2019 Earnings Presentation

5 slides from Ambev Sa's earnings presentation, Jul 25, 2019

1. Slide 1: Net revenue per hectoliter and COGS per hectoliter (R$)

   Net revenue per hectoliter (R$) COGS per hectoliter (R$)

2. Slide 2: 290.9 2016 (287.9 2Q17 314.9 2ai8 329.4 2aig

   290.9 2016 (287.9 2Q17 314.9 2ai8 329.4 2aig

3. Slide 3: Normalized EBITDA (R$ million) and Normalized EBITDA Margin (%)

   Normalized EBITDA (R$ million) Normalized EBITDA Margin (%)

4. Slide 4: 4,204.6 3,943.3 2ai6 2017 4,673.7 4,691.3 2018 2019

   4,204.6 3,943.3 2ai6 2017 4,673.7 4,691.3 2018 2019

5. Slide 5: Ambev Reports 2019 Second Quarter Results Under IFRS

   AMBEV REPORTS 2019 SECOND QUARTER RESULTS UNDER IFRS

Ambev — Q2 2019 Earnings Presentation on 6ix