Ambev S A : Annual and Sustainability Report 2026 – Fiscal Year 2025

About this update from Ambev Sa

2025 SUSTAINABILITY REPORT INDEX ‌ 2025 Annual and Sustainability Report 2 About the Report 6 Message from Management 7 leAD AND exPAND THe CATeGOry DIGITIze AND MONeTIze OUr eCOSySTeM OPTIMIze OUr bUSINeSS Our Strategy 9 Production and Innovation 27 Natural Resources and Operational Efficiency 41 Our Commitments 18 Shared Value 32 Governance 52 Beer can be part of a balanced lifestyle 21 Stakeholders 38 Our People 59 Financial Performance 65 Annexes 68 About the Report Message from Management LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance YeAr'S HIGHlIGHTS Annexes Forbes Agro100 In 2025, we were once again ranked among the 10 largest agribusiness companies in Brazil in the Forbes Agro100 ranking, reinforcing the consistency of our positioning over recent evaluation cycles. The companies listed generated BRL 1.12 trillion in revenue, underscoring Ambev's relevance within the national agricultural value chain and its strategic role in promoting increasingly efficient and sustainable production. Ambev among the 30 Best Companies in Brazil In 2025, we were recognized by VEJA/Austin Rating as one of the Top 30 - Best Companies in Brazil, securing first place in the Food and Beverages category. This result reinforces our excellence in performance, governance and innovation, and highlights the consistency of Ambev's leadership in the sector across the country. Valor 1000 Award We won the Valor 1000 Award 2025 in the Food and Beverages category. This marks the thirteenth year the company has been recognized by the newspaper, reflecting our long-term strategy focused on leading the beer category, digitalizing the ecosystem, and optimizing the business. Best of Agribusiness For the second time, we were selected as winners in the Food and Beverages category and received the unprecedented award as Best Economic Group in the Best of Agribusiness of Globo Rural. Company of Dreams We achieved 4th place in the "Companies of Dreams" ranking, in the 24th edition of the survey conducted by Cia de Talentos, reinforcing our commitment to development, an inclusive culture and a work environment that inspires purpose and growth. 2025 Annual and Sustainability Report 3 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes Transparency Trophy For the third consecutive year, we received the Transparency Trophy from ANEFAC (National Association of Finance, Administration and Accounting Executives) Broadcast Companies Plus Award We were recognized at the Broadcast Companies Plus Award, winning in the Food and Beverages and Estadão Impact Coefficient - Northern Region categories. The award reinforces the consistency of our strategy and the positive impact of our operational and socio-environmental performance in the region, reflecting Ambev's commitment to long-term value creation and regional development. Exame Best ESG: In 2025, Ambev was once again the winner of the Exame Best ESG award in the Food and Beverages category, one of the country's leading recognitions for environmental, social and corporate governance performance. Valor Innovation: Ambev was once again recognized at the Valor Innovation Award in different editions over the past years, including 2025, reinforcing the Company's consistency in building a structured innovation agenda. DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Brazil's Leading Lawyers Awards 2025: In 2025, Ambev was recognized at the Brazil's Leading Lawyers Awards in the Labor category, highlighting technical excellence, strategic performance and the Company's commitment to best practices in governance, compliance and people management. 2025 Annual and Sustainability Report 4 About the Report Message from Management Annexes LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance QUAlITy AND ReCOGNITION The awards won in national and international competitions reinforce the consistent quality of Ambev's beers and our ongoing commitment to excellence, innovation, and brewing tradition. Copa Cervezas das Americas 14 Weiss (Cervejaria Bohemia): » German-Style Leichtes Weizen | Gold » Patagonia Amber Lager (Argentina): American-Style Amber Lager | Gold International Beer Challenge » Patagonia Amber Lager (Cervejaria Ambev): Amber Lager | Trophy - Best Lager up to 5% » Colorado Indica (Colorado) - English IPA | Gold World Beer Awards » Caracu (Cervejaria Ambev) - Sweet Stout | World's Best - won for the second consecutive year as the World's Best Sweet Stout » Brahma Duplo Malte (Cervejaria Ambev) -American-Style Lager | Gold Brazilian Beer Competition (Blumenau) » Corona Cero (Cervejaria Ambev) -Non-alcoholic Malt Beverage | Gold » Indica (Colorado) - British India Pale Ale | Gold Brazil Beer Cup » Aura Lager (Cervejaria Bohemia) -Vienna Lager | Gold 2025 Annual and Sustainability Report 5 About the Report Message from Management LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance AbOUT THe RePOrT In this 2025 Annual and Sustainability Report, we present our data in accordance with our financial objectives and our Materiality Assessment, aligned with the standards of the Sustainability Accounting Standards Board (SASB). This approach demonstrates our commitment to transparency and corporate responsibility. The document covers the period from January 1 to December 31, 2025 and encompasses our operations in Brazil, South Latin America (LAS), Central America and the Caribbean (CAC), and Canada, with a focus on our beverage production units and our main vertically integrated operations, such as our malt houses, which are essential to ensure quality, traceability, and innovation across our entire value chain, from grain to glass. Annexes 2025 Annual and Sustainability Report 6 ‌MeSSAGe FrOM MANAGeMeNT LeTTer FrOM THe CHIeF ExeCUTIve OFficer A t the end of 2025, I completed one year in the role of CEO of Ambev. Before returning to Brazil, I spent years working in different countries, in mature and developing markets, observing distinct consumer behavior realities and stages of category evolution. This experience was instrumental in my development as a leader and in building the repertoire to take on the responsibility of leading the company at this moment. Returning to Brazil also meant reconnecting with the cultural dimension of what we develop every day. Beer is a national passion. More than just being present in daily life, it is in meetings, conversations, celebrations, and moments that gain meaning when they are shared. This presence helps explain the strength and potential of the category. With high social relevance, it still offers broad opportunities to evolve, attract new consumers, and create new consumption occasions, with or without alcohol. Developing a category with this cultural relevance requires understanding behaviors, following transformations, and innovating continuously, advancing with consistency and opening new avenues of growth. Developing the category sustainably requires an integrated view of the business. In a business deeply connected to natural resources, people, and communities, performance in the present and long-term viability depend on how we manage the entire value chain. Strategy, sustainability, and governance are not parallel agendas, but inseparable dimensions of the same value creation logic. This integrated vision also guided the way we advanced our sustainability agenda in 2025. We concluded a relevant cycle of commitments established in 2017, defined based on structuring themes for our business and for the systems of which we are part, such as climate, water, circular packaging, and sustainable agriculture. Throughout this period, the focus was on evolution in each of these commitments and on incorporating these priorities into the way we operate and make decisions throughout the entire value chain. At the same time as we conclude this cycle, we continue to advance in the fronts that provide continuity to this agenda. We evolved in water management, focusing on the protection of watersheds and on increasingly efficient water use, we deepened a farmer-centric Carlos Lisboa Chief Executive Officer 2025 Annual and Sustainability Report 7 approach to promote increasingly sustainable management, and we continue to advance in energy efficiency, use of renewable electricity, packaging circularity, and reduction of greenhouse gas (GHG) emissions throughout the chain. This movement reinforces our conviction that sustainability is a permanent part of the strategy and the way we seek resilience, efficiency, and consistent growth in the long term. This approach also guides the way we structure our business strategy. We organized Ambev to advance simultaneously in category growth, ecosystem transformation, and business optimization, always with a consistent look at the social, environmental, and economic impacts we generate. The first strategic pillar is to lead and expand the category, guiding its evolution intentionally. We start from the conviction that beer, with its enormous cultural and economic relevance, still has broad growth potential. Our focus is on expanding the category through the creation of new consumption occasions, strengthening its relevance for different consumer profiles and lifestyles and promoting increasingly balanced choices. The second pillar is to digitize and monetize our ecosystem, connecting customers, consumers, and partners through platforms, data, and technology. This ecosystem enhances efficiency, accelerates decision-making, and creates new value opportunities throughout the chain, while strengthening relationships and enabling more inclusive, transparent, and sustainable models. 2025 Annual and Sustainability Report The third pillar is to optimize our business, ensuring operational discipline, solid governance, and efficiency as foundations for sustainable growth. This pillar sustains our capacity to invest, innovate, and grow with consistency, ensuring that execution in the present builds the foundations for future growth. The integrated execution of these three pillars materializes in the countries where we operate. We continue to invest continuously and significantly in our operations, directing resources toward industrial modernization, innovation, and digitization, strengthening production chains, and generating jobs and income. These investments reflect our confidence in the potential of the markets where we are present and our long-term commitment to the economic and social development of the regions and communities where we operate. All of this is possible because we operate the strategy in an ambidextrous way. It is the ability to execute, simultaneously, category development, ecosystem digitization and business optimization that sustains our way of growing. With a solid foundation of governance, ethics, and transparency, we continue to connect purpose, strategy, and execution in an integrated way, to generate economic, social, and environmental value consistently in the countries where we operate, today and in the long term. Carlos Eduardo Lisboa Chief Executive Officer 8 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Lead and expand the category OUr STrATeGy Annexes 2025 Annual and Sustainability Report 9 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes IN DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders 2025, we continued writing a story that began more than 170 years ago with our brands and that, 26 years ago, gained renewed momentum with the creation of Ambev. Since then, we have grown alongside the territories where we operate and, with that, reinforced the understanding that our growth also expands our ability to generate positive impact throughout the value chain. For this reason, we conduct our strategy with a focus on shared value creation and sustainability, guiding our execution in an integrated and long-term oriented manner. Our business strategy and model is Optimize our business OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Lead and expand the category structured around three strategic pillars: Digitize and monetize our ecosystem 2025 Annual and Sustainability Report 10 About the Report Message from Management LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle LeAD AND exPAND THe CATeGOry Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance The category continues to be loved and culturally relevant, present in social moments that connect people. After a period dedicated to consolidating leadership and geographic expansion, we advanced to a phase in which developing the category became a priority. This movement includes creating consumption occasions and expanding beer's presence across different moments and consumption profiles. With an ambidextrous approach-balancing flawless execution and innovation, we regained leadership in the premium segment after 10 years, supported by brand building, liquid and packaging innovation, and a consumer-centered commercial management approach. Our portfolio remains aligned with what people seek today while also anticipating trends. Among the ongoing trends, balanced choices stand out, gaining momentum not only as an emerging behavior but as an avenue for growth, driven by important innovations in the category. We lead the zero-alcohol segment and expand access to options with fewer calories and gluten-free alternatives, attracting new consumers and strengthening the category's relevance for different lifestyles. This combination of consistent execution, continuous innovation and longterm vision guides the way we develop the category and supports the evolution of the sector as a whole. 2025 Annual and Sustainability Report 11 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance DIGITIze AND eCOSySTeM MONeTIze OUr Together, BEES and Zm Delivery strengthen the ecosystem, creating a more resilient and adaptable model with more efficient processes and more inclusive and transparent relationships. Data and technology enhance our ability to read the market, enabling faster responses and more precise execution across the value chain. In the B2B channel, BEES continues to drive commercial execution: provides personalized purchasing recommendations according to the consumption profile of each point of sale and also operates as a marketplace, expanding the purchasing journey beyond our products and facilitating our customers' business management. On the Direct-to-Consumer (DTC) front, Zm Delivery keeps us close to consumers, deepening our understanding of habits, preferences and behaviors through surveys and personalized offers. This combination guides decision-making, improves the experience and creates relevant connections with different profiles. Our technological transformation has also redefined how we connect from grain to glass. In the field, our partner farmers are connected to the Agroportal, a platform that integrates agronomic data, contracts, payments and sustainability indicators, promoting transparency, facilitating decision-making and providing visibility into regenerative practices from the very beginning of the production chain. [Read more on page 29] Our monetization strategy includes several initiatives. Among them is BORA, a productive inclusion program focused on employment and income generation within our ecosystem - from bars to entrepreneurs - which mobilizes partners to provide knowledge, connections and financial empowerment, contributing to productive inclusion and community development. [Read more about the programs on page 34] 2025 Annual and Sustainability Report 12 About the Report Message from Management LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle OPTIMIze OUr bUSINeSS Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance This pillar reflects Ambev's commitment to financial discipline, corporate responsibility and strategic sustainability, which drive the Company's efficiency and long-term growth. Ethics and integrity remain non-negotiable. In 2025, we continued to strengthen controls, integrity policies, and governance mechanisms, ensuring transparency in relationships with customers, suppliers, and partners. We also enhanced our capacity for social and environmental risk and opportunity assessment, incorporating these studies into the strategic process to increase our ability to anticipate challenges and strengthen business resilience. We closed 2025 structurally stronger, with higher profitability and a more resilient and sustainable operating model. This progress was reflected in the third consecutive year of expansion in adjusted EBITDA margin (+50 bps) and strong operating cash flow generation (BRL 24.5 billion), demonstrating the discipline and transparency that support our long-term growth. 2025 Annual and Sustainability Report 13 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders About the Report Message from Management Annexes OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance A 25-YeAr HISTOry 1853 1855 1888 1914 1921 1941 1961 1971 1980 1999 2003 2004 2005 2008 2011 2014 2015 2016 2019 2019 2021 2022 2023 2024 2025 Founding of Antarctica Launch of Antarctica Tonic Acquisition of the Original beer brand by Antarctica Launch of Skol, the first canned beer in Brazil Merger between Brahma and Antarctica CreATION OF AMbev Agreement between Ambev and Interbrew (InBev) Acquisition of Anheuser-Busch Arrival of Corona in Brazil Launch of Zm Delivery Launch of Brahma Duplo Malte Launch of Bora Corona Cero sponsorship of the Olympic Games, with the Expanding the portfolio with the launch of Founding of Bohemia, the first Brazilian brewery Founding of Brahma Launch of Antarctica Guaraná Acquisition of Bohemia Brewery by Antarctica Acquisition of the Skol beer brand by Brahma Launch of Beats Arrival of Stella Artois in Brazil Arrival of Budweiser in Brazil Launch of Wäls and Colorado Arrival of Beck's in Brazil Arrival of Spaten in Brazil Launch of Chopp Brahma in cans non-alcoholic beer assuming this role Flying Fish About the Report Message from Management LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle OUr MArkeT AND OPerATIONS We operate in the production, distribution and commercialization of beers, soft drinks and other alcoholic and non-alcoholic beverages in 11 countries across the Americas. In Brazil, we produce beverages that are part of everyday life and celebrations, such as Guaraná Antarctica, Brahma and Original-brands that embody our history and a significant part of the country's identity. In our other markets, we cultivate equally deep relationships with local cultures through iconic brands such as Presidente in the Dominican Republic, Labatt Brewing Co. in Canada, Paceña in Bolivia and Quilmes in Argentina. Canada CAC Central America and Caribbean LAS South Latin America Brazil DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance CANADA Labatt operations » Canada CENTRAL AMERICA AND THE CARIBBEAN (CAC) Direct operations » Dominican Republic » Cuba * » Panama » Guatemala LATIN AMERICA SOUTH Direct operations » Argentina » Bolivia » Uruguay » Chile » Paraguay BrAZIl Beer Division (Beer and alcoholic beverages other than beer) NAB Division (Non-alcoholic and non-carbonated beverages) Annexes * Operated as a joint venture 2025 Annual and Sustainability Report 15 Water Climate Circular Economy Agriculture and Natural Ecosystems Responsible Consumption and Moderation Responsible Purchasing Local Economic Development Human Rights and Fair Labor Practices Our People Product Quality Business Conduct IMPACT MATERIALITY OUr IMPACT Over the past years, our sustainability management approach has matured, evolving from a commitment-driven model to an impact-based model. This approach is supported by multidisciplinary and thematic committees that ensure active governance. OUr MATerIAlITy Since 2024, following a national and international regulatory movement with new standards and legal requirements for the disclosure of corporate reports, we have been standardizing our internal processes and incorporating financial perspectives into our materiality matrix. In the most recent cycle, Anheuser-Busch InBev S.A./N.V. (AB InBev, the Company's controlling shareholder) conducted a dual materiality assessment, including input from a variety of stakeholders, in accordance with the requirements of the European Sustainability Reporting Standards (ESRS). The process involved selecting potential material topics, assessing impact materiality and financial materiality, and defining the Company's material topics. Ambev considers the same topics identified by AB InBev as material. Employees Environment Governance Value chain Products and services FINANCIAL MATERIALITY 2025 Annual and Sustainability Report 16 MATERIAL TOPICS Water To measurably improve water availability and quality in the communities with which we engage through strategies, policies and programs. In addition, to preserve water bodies, reduce consumption, increase water reuse and prevent conflicts related to water and/or water scarcity. Product Quality To promote transparency, corporate responsibility and the pursuit of more sustainable development and higher quality in the products we offer to customers and consumers. Our People To apply principles, beliefs and practices aligned with Ambev's values. To promote a work environment that supports the development of the potential of all people. Circular Economy To ensure care and responsibility regarding the disposal, reuse and recycling of packaging and the materials derived from it. Business Conduct To ensure the well-being of everyone within the ecosystem through ethical compliance with applicable norms. To apply best corporate governance practices in accordance with regulations and aligned with Ambev's values. Agriculture and Natural Ecosystems To promote positive socio-environmental impacts in the supply chain; to prevent, mitigate and reduce negative consequences occurring within the supply chain of ingredients. To consider biodiversity within the business strategy and model. Responsible Purchase To encourage and value the reduction of negative impacts across the value chain, demonstrating concern for the social responsibility of each negotiation and purchase conducted by the Company. Climate To assess material impacts, risks and opportunities related to climate and their interaction with the business strategy and model. To follow a transition plan for climate change mitigation and related metrics. To adopt policies related to climate change mitigation and adaptation. Responsible consumption and Moderation To promote responsible consumption and moderation of alcoholic beverages through the prevention of abusive consumption and underage drinking. To maintain contact channels with customers and consumers. Human Rights and Fair Work Practices To ensure healthy and safe working conditions for all employees and partners at every stage of the process. Local Economic Development To drive economic growth in a region by leveraging its unique resources and potential. To implement tailored strategies and solutions for income generation and poverty reduction. 2025 Annual and Sustainability Report 17 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Lead and expand the category OUr COMMITMeNTS 2025 Annual and Sustainability Report 18 ‌ ur sustainability commitments for 2025, disclosed in 2018, O were established to expand the impact across our value chain in every country where we operate. As our business is closely connected to the environment and local communities, our commitments have focused on generating impact in water, agriculture, climate, and packaging. We are proud of the progress made over the past eight years and the results achieved. WATer MANAGeMeNT » Objective: 100% of our communities located in high water stress areas will achieve measurable improvement in water availability and quality. » We achieved the water management commitment defined for the 11 units located in high water stress areas. All of them showing measurable improvement in water availability and quality. We also reached our ambition for water efficiency, achieving an index of 2.38 hl/hl, representing an improvement of 19.1% since 2017. In units located in high or extremely high baseline water stress regions, we achieved a water use efficiency index of 2.05 hl/hl. SUSTAINAble AGrICUlTUre » Objective: 100% of our direct farmers will be trained, connected and financially empowered 1 . RESULT » We achieved our sustainable agriculture commitment, with 100% of direct farmers trained, connected and financially empowered by 2025 through local programs and partnerships. ClIMATe ACTION » Objective: 100% of our purchased electricity will come from renewable electricity sources; and we will reduce our greenhouse gas (GHG) emissions by 25% across our value chain. » For purchased electricity, we did not reach 100% of the initial target, achieving 97.5% conversion. Structural and regulatory challenges in one of the countries where we operate prevented full achievement, although all other countries reached the 100% commitment. » We reduced our Scope 1, 2 and 3 greenhouse gas emissions per hectoliter of production by 25.8%, achieving our emissions intensity reduction commitment of 25%. We also reduced absolute Scope 1 and 2 emissions by 42.2% compared to 2017. CIrCUlAr PACkAGING » Objective: 100% of our products will be in returnable packaging or made with predominantly recycled content. RESULT » In 2025, 70.5% of our packaging was returnable or made with predominantly recycled content. Overall, all of our packaging showed a significant increase in recycled content when compared to 2017. Despite major progress in recycled glass packaging (increased by 7% since 2017) and PET packaging (increased by 98% since 2017), we did not reach the initial objective, as we faced challenges related to the availability of viable recycled content, which is highly dependent on local recycling supply chains and dynamic market conditions, especially for glass packaging and PET packaging. For aluminum packaging, we exceeded the goal. » It is worth highlighting that in Brazil, our largest market, we achieved 100% of our products in returnable packaging or made with predominantly recycled content. Progress has also been made in the other countries RESULT RESULT A financially empowered farmer: has access to appropriate cost-sharing or risk mitigation tools (commercial farmers) or receives annual financial training and has access to an appropriate financial product or solution (smallholder farmers) 2025 Annual and Sustainability Report 19 MeTrIC 2017 2023 2024 2025 AÇÃO CLIMÁTICA Total direct and indirect GHG emissions (Scopes 1 and 2 in million metric tons of CO2e) 1 1.02 0.57 0.56 0.59 Scope 1, 2 and 3 GHG emissions per hectoliter of production (in kg CO2e/hl) 32.92 27.47 25.43 24.41 % Renewable electricity: operational / 94.6% 96.5% 97.5% % Renewable electricity: contracted / 100.0% 100.0% 100% WATER MANAGEMENT Total water use per hectoliter of production (hl/hl) 2.94 2.37 2.47 2.38 Communities in high water stress areas with demonstrably improved water availability and quality / 73% 91.0% 100.0% SUSTAINABLE AGRICULTURE Direct farmers, skilled, connected and financially empowered Skilled / 92% 100% 100% Connected / 100% 100% 100% Financially Empowered CIRCULAR PACKAGING / 99% 100% 100% - % Returnable packaging 45.4% 32.3% 30.8% 30.6% % Recycled content in primary packaging Glass 44.0% 43.6% 44.1% 47.1% Cans 74.9% 75.2% 77.2% 77.3% PET 20.8% 40.3% 42.9% 41.1% In this cycle, we adjusted the unit of measurement used in previous years to align with the GHG Protocol standard. 2025 Annual and Sustainability Report 20 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Lead and expand the category Beer CAN be PArT OF A bAlANCeD lIFeSTyle 2025 Annual and Sustainability Report 21 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes B DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance eer has accompanied humanity for thousands of years. Present since ancient civilizations, it has always played an essential role in socialization: celebrating moments, bringing people together, marking collective rituals and strengthening community bonds. Ambev values this journey and the unique role that beer plays in people's lives. For this reason, we work to strengthen a relationship of trust and respect with our consumers. Our communication initiatives follow a clear guideline: to reinforce the importance of moderate consumption, only by those over 18 years of age and by those who can drink. This approach contributes to a culture of responsible consumption and moderation, preserves the social meaning of beer in our history and reaffirms Ambev's role as a reference in ethics and in building positive social impact in the beverage sector. We believe that responsible choices begin with clear, accessible and reliable information. Accordingly, we strictly comply with all mandatory labeling regulations in force in the countries where we operate, ensuring transparency regarding ingredients, alcohol content, legal warnings and safety guidance. But we go beyond legal requirements. Even in markets where additional warning requirements are not yet mandated by law, we choose to include practical guidance that encourages balanced habits and reinforces the importance of individual responsibility, promoting more conscious choices aligned with responsible practices. Since the creation of Ambev, we have placed responsible consumption and moderation at the center of our activities, mobilizing the entire Company, as well as partners, distributors and points of sale, to promote dialogue about moderation, education and conscious choices. In its 17th edition, Dia de Responsa has established itself as the largest moderation movement in Ambev's history. In 2025, the initiative reached its highest level of scale and impact. In Brazil alone, we mobilized more than 100 thousand points of sale and 10 thousand employees as ambassadors of the initiative. The movement also significantly strengthened the zero-alcohol portfolio, reaching the highest historical level of coverage and distribution of these brands throughout the year, reinforcing the strength and consistency of the moderation agenda. The campaign was amplified through the BEES and Zm Delivery platforms. This continuous journey has shaped our organizational culture and consolidated the theme as one of the enabling axes of our business. At Ambev, we understand that responsible consumption is a non-negotiable commitment for a truly sustainable growth model. For this reason, we follow a clear principle: We have no interest in profit derived from the improper consumption of our products. 2025 Annual and Sustainability Report 22 About the Report Message from Management DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders GLOBAL SMART DRINKING GOALS We maintain global responsible consumption and moderation targets consolidated by AB InBev, considering the results of Ambev and other entities worldwide. Since 2016, the AB InBev group, of which Ambev is part, has invested globally more than USD 1 billion in initiatives aimed at promoting moderation. These investments reflect the group's commitment to fostering a culture of responsible consumption, grounded in scientific evidence, an understanding of social behaviors, and cross-sector collaboration. Our strategy is focused on four key areas: Social Norms: Our marketing strategy based on social norms seeks to use peer information to encourage moderation. By informing consumers that the majority of people who consume alcohol do so in moderation, the Company seeks to drive positive behavioral change and reinforce social expectations that those who choose to drink should do so responsibly. Programs: We focus on evidence-based programs such as responsible consumption service training, Screening and Brief Intervention (SBI) designed as preventive measures in outpatient LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance and wellness consultations, as well as road safety initiatives to help governments improve their traffic safety management systems. Monitoring and evaluation of these programs are managed locally. In partnership with local experts, governments and the AB InBev Foundation, we support 33 programs in 20 countries using these evidence-based techniques. Beer Portfolio: In 2015, AB InBev established a commitment to expand the volume of zero-alcohol and low-alcohol beers (up to 3.5% ABV) 2 to 20% of our total beer volume by the end of 2025. Although the group did not fully achieve this ambition, in 2025, 6.2% of the global beer volume reached this level. Products with 4.5% ABV or less now represent 52.9% of AB InBev's global portfolio. Labeling: As part of our voluntary guidance labeling initiative, we continue to include labels with messages about responsible consumption and moderation on the primary packaging of products, even in countries where there are not yet legal requirements for mandatory warning labels, with the objective of providing practical guidance to consumers. ABV - Alcohol by Volume. Annexes 2025 Annual and Sustainability Report 23 PArTNerSHIPS AND IMPACT PrOGrAMS Promoting responsible consumption and moderation is a collective effort. We apply the same global framework across the markets where we operate, in partnership with experts, governments and local organizations. Our initiatives follow the same lines of action, with design and monitoring carried out by local teams, such as responsible service, monitoring and Screening and Brief Intervention (SBI) in healthcare environments and road safety initiatives that help governments improve their prevention systems and traffic management. We continuously seek to integrate technology, science and behavior to promote balanced choices and safer consumption. Five years ago, in Brazil, we created the Smart Drinking Lab: a collaborative and multidisciplinary ecosystem that connects startups, research centers, our Innovation and Technology Center and Ambev Tech. In just three years, the Lab has consolidated itself as a reference hub for social innovation, with more than 10 startups integrated, technologies tested and validated and the launch of four major solutions that transform the concepts of moderation into products and services accessible to the public. In addition to products, we invest in technology applied to public management and accident prevention. In partnership with the Ministry of Transport, the National Traffic Secretariat (Senatram) and Falconi, we launched the "RENAESTE" platform, a diagnostic tool that uses data intelligence to identify patterns and predict areas and timeframes with a higher probability of traffic accidents. The initiative supports real-time urban and road planning, contributing to evidence-based public policies and the development of safer cities. In the healthcare field, we continue to innovate with digital solutions aimed at reducing harmful alcohol consumption. In 2025, we supported the expansion of e-SBI in Brazil through the development and implementation of a digital brief intervention and harmful drinking prevention solution, built in partnership with Universidade de São Paulo, the AB InBev Foundation, and the local public healthcare system. Integrated into the City of São Paulo's digital health platform, the tool expands public access to qualified guidance and facilitates the work of healthcare professionals by combining structured screening, brief counseling, and referral for follow-up when necessary. By strengthening this initiative, we contribute to the expansion of public prevention policies, to the use of technology as a tool to promote well-being, and to the dissemination of a model that is increasingly regarded as a reference for adaptation in other contexts and countries. 2025 Annual and Sustainability Report 24 MAjOr eveNTS AND THe CelebrATION OF MODerATION In 2025, we continued promoting responsible consumption and moderation at major events that are part of Brazilian culture - spaces of gathering, celebration and belonging that reflect diversity and the importance of balance in every toast. On the Circuito Sertanejo (Brazilian Sertanejo Circuit), moderation was also a reason to celebrate. As part of the Smart Drinking Lab initiatives, we launched-unprecedentedly-a duo created with the support of artificial intelligence, Humberto Henrique & Osmar, with the objective of engaging audiences in a light, creative and culturally connected way about the importance of drinking responsibly. The initiative was present at the main events of the circuit, from the launch in Barretos and Jaguariúna to the closing event in Caldas, expanding the reach of the message throughout the entire season. In addition to the duo, we released the original song "Chama no Equilíbrio," available on multiple digital platforms, reinforcing the idea that alternating beer with water or choosing non-alcoholic beer helps extend the best moments of the celebration. At each performance, the duo brought the traditional Minute of Moderation to the main stage, creating a symbolic moment of pause and reflection amid the festivities. The initiative was supported by an integrated communication strategy that included a media campaign, local radio broadcasts, water distribution at events, influencer participation, and the free availability of the song and its music video on digital platforms. The project generated broad media coverage, with highlights across newspapers, radio stations, digital portals and regional outlets, significantly expanding the reach of the message. In total, more than 1 million people were impacted by the initiative. The initiative also received national recognition, winning one silver and one bronze medal at the AMPRO Awards-one of Brazil's most relevant Live Marketing awards-reinforcing the relevance and innovation of Ambev's approach to promoting moderation in a positive and culturally connected way. CArNIvAl Carnival is one of the strongest symbols of our connection with the public and a privileged platform for inspiring conscious choices. This year, we impacted millions of revelers through a broad mobilization encouraging hydration and moderation. In 2025, more than 20 thousand liters of water were distributed free of charge through water fountains in Brazil. Additionally, actions were carried out with promoters and a partnership with the Salvador subway to encourage the use of public transportation and individual mobility service platforms. The campaign took over the streets and social networks, with intensive communication across digital channels and the participation of high-reach artists such as Anitta and Pedro Sampaio, who helped amplify the message of care and balance. The initiative engaged brands such as Brahma, Beats, AMA and Zm Delivery, reinforcing that celebrating responsibly is an essential part of our culture. 2025 Annual and Sustainability Report 25 About the Report Message from Management Annexes LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance ReSPONSIble MArkeTING AND ADverTISING As part of our commitment to sustainability and people's well-being, we conduct our marketing and advertising practices in a manner that ensures ethics, transparency, and responsibility. Our objective is to ensure that every interaction with Ambev's brands promotes positive choices, respecting the specificities and safety of all audiences. From product conception to launch, and even after disposal, our actions follow rigorous ethical and legal standards, reflecting our commitment to the health, well-being and integrity of consumers. To ensure this standard, we rely on an internal evaluation committee, supported by specialists, which reviews and approves campaigns and communication initiatives based on the regulations in force in each of the countries where we operate, the Ambev responsible marketing and communication code, as well as applicable laws, regulations, ethical principles and standards of social conduct. In 2025, we did not record any convictions related to non-compliance with regulatory guidelines applicable to our marketing and advertising practices by the National Advertising Self-Regulation Council (Conar). In addition, we promote ongoing training forums and debates on best practices in ethical advertising. These sessions involve employees and strategic partners who participate in campaign development, strengthening the culture of responsibility and innovation that guides our marketing actions. Our commitment is to create campaigns that inspire, respect and engage society, strengthening our brands and fostering a more responsible communication ecosystem. We act with transparency, innovation and corporate governance. Promoting responsible consumption and moderation strengthens social trust and transforms every toast into an opportunity for coexistence. 2025 Annual and Sustainability Report 26 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Digitize and monetize our ecosystem PrODUCTION AND INNOvATION 2025 Annual and Sustainability Report 27 About the Report Message from Management Annexes W e are proud to be recognized as a benchmark in the use of natural ingredients and sustainable practices, reflecting our respect for the environment and the communities where we operate. High-quality malts, selected grains and aromatic hops are combined with technique and sensitivity to create unique labels, translating tradition and innovation in every sip. Today, our beverages are produced in 52 breweries and soft drink plants, powered by the talent of more than 150 master brewers who bring together technical expertise, sensory precision and passion for their craft. They are the ones who transform water, hops, yeasts and grains into beers that reflect care, consistency and the pride of products made by people, for people. This commitment to excellence is embodied in a rigorous quality control system: » More than 1,300 inspection points throughout the production chain; » 376 tests conducted throughout the process; » 16 tastings per batch, ensuring that flavor, aroma and texture are exactly as intended. This meticulous monitoring has led us to earn medals and recognition at beer festivals in Brazil and around the world, reinforcing our global reputation for excellence. More than LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance 1,300 inspection points 376 tests throughout the production process 16x Each batch is tasted before reaching the market The Beer Innovation and Technology Center (CIT), together with our robust investment in research and development over recent years, strengthens collaboration with startups and researchers across Latin America. Located at the UFRJ Technology Park, the CIT is the heart of our brewing research. It is there that we explore new recipes, packaging solutions and technologies, shaping the future of the brewing universe based on science, sustainability and creativity. In addition, we promote the 100+ Labs Brazil, Chile and Bolivia program, focused on developing solutions that contribute to the Company's and partners' sustainability and resilience strategy, with emphasis on climate action, sustainable agriculture, water management, Circular packaging and productive inclusion. More than 100 startups have been supported throughout the history of the program, whose 2025 edition was held in partnership with PepsiCo, Valgroup, Ball and others. 2025 Annual and Sustainability Report 28 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes FrOM fielD TO GlASS Every ingredient tells a story. By supporting farmers, caring for water and encouraging regenerative practices, we reaffirm our commitment to producing quality beverages with responsibility and respect for the planet. From grain to glass, we continue transforming our production chains into networks of positive social impact. BArley DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Barley is the heart of malt, one of the ingredients that give body, color and flavor to our beers. We currently work with approximately 2,300 partner farmers in Argentina, Brazil, Uruguay and Bolivia, whom we encourage to adopt increasingly sustainable and regenerative agricultural practices. We provide annual training, technical support and specialized consulting to strengthen their financial autonomy and the adoption of good agricultural practices. We also develop our own genetic improvement program, resulting in barley varieties that are more productive, more resistant to diseases and better adapted to climate change. These advances increase field yields and ensure the quality of the raw materials that reach our breweries. HOPS Hops are responsible for the aroma, bitterness and balance of beer and are part of the sensory signature of each label we produce. We operate our own farm in Argentina, with 63 hectares dedicated to the cultivation and processing of hop flowers. GUArANÁ Guaraná is a symbol of the Amazon and an integral part of Brazilian identity. For more than 60 years, the companies of the Ambev Group and Guaraná Antarctica have supported family farmers in Maums (AM), a city where the fruit is the backbone of the local economy and is recognized as the national capital of guaraná. These actions include training in sustainable management techniques and the distribution of seedlings. Our objective is to strengthen local production, preserve the standing forest and ensure income for communities, while valuing the culture and traditional knowledge of the region. The guaraná that gives rise to Guaraná Antarctica is more than an ingredient: it is a symbol of sustainability, belonging, and national pride. As a way to value and communicate the cultural relevance of this fruit, Ambev held the Terra do Guaraná (Guarana Land) exhibition in Belmm during the COP30 period. The exhibition was dedicated to telling the story of the Amazonian fruit. The event also included cultural activities, workshops, and initiatives aimed at valuing the Amazonian bioeconomy and strengthening local entrepreneurs. 2025 Annual and Sustainability Report 29 OUr lOGISTICS OPerATIONS Our distribution operation combines logistical efficiency, extensive reach and technological innovation, ensuring the presence of our products with quality and agility for customers and consumers. We operate through two complementary structures: a network of exclusive distributors working with Ambev brands and our own system of distribution centers, totaling more than 150 units. With in- house teams and the support of partner logistics companies, our direct system serves everyone from small merchants to large retail chains, expanding reach and ensuring that our products are available at the most diverse points of consumption. This structure allows us to integrate logistics intelligence to optimize routes, reduce carbon emissions intensity and ensure operational efficiency. 2025 Annual and Sustainability Report 30 Zé DelIvery AND BEES: CONveNIeNCe, INTellIGeNCe AND CONTINUOUS exPANSION In 2025, Zm Delivery consolidated itself as one of the largest digital consumption platforms in Brazil, present in more than 815 cities; ~10 million Annual Active Users. The platform also recorded +13% GMV*, an indicator representing the total value of sales conducted within the application, bringing us closer to young adult consumers and deepening our understanding of consumption behaviors and trends. In the B2B channel, BEES continued to drive the quality of commercial execution. Our customer-centered approach led us to leverage data insights to improve sell-out performance through benchmarking of best-in-class points of sale across our ecosystem and the replication of these practices for other customers. Within the BEES Marketplace, we continued expanding both the reach and the availability of products for our customers. By bringing together technology, services and inclusion, BEES and Zm Delivery accelerate customer digitization and reinforce Ambev's presence as a strategic partner for thousands of entrepreneurs and consumers across the country. These platforms are the direct result of a continuous cycle of investments in technology, innovation and business intelligence, transforming data into intelligent decisions. With the integration of Artificial Intelligence into digitization we are advancing toward a more efficient, connected and sustainable value chain. Technology anticipates trends; people transform insights into solutions with positive social impact for the business, consumers and the ecosystem. * Gross Merchandise Value (GMV) means that the total value of sales made on an e-commerce platform or marketplace has increased compared to a previous period. 2025 Annual and Sustainability Report 31 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Digitize and monetize our ecosystem SHAreD VAlUe Annexes 2025 Annual and Sustainability Report 32 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes A DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance t Ambev, we believe that generating long-term value means creating pathways for more people to prosper - a model in which economic and social development can and should advance together. Based on this vision, we have implemented several initiatives focused on poverty reduction, aimed at promoting real and lasting changes in people's lives. We operate through complementary initiatives designed to generate positive and transformative socio-environmental impact. 2025 Annual and Sustainability Report POSITIve IMPACT In 2018, we created the VOA Program, a corporate volunteering initiative that connects Ambev volunteer leaders with social organizations across Brazil. Over the years, VOA has expanded its reach by offering mentoring in management, planning, people development and sustainability, creating a virtuous cycle of learning. In 2025, VOA entered a new phase. With a focus on training and employability, it began supporting 80 organizations dedicated to productive inclusion, aligning with Ambev's positive impact strategy and the Bora platform. This integration reinforces our commitment to generating real income and employment opportunities, with more than 170,000 people indirectly impacted in the most recent cycle alone. 33 LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle About the Report Message from Management Annexes DIGITIZE AND MONETIZE OUR ECOSYSTEM Production and Innovation Shared Value Stakeholders OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Bora is a program created by Ambev in 2022 with the objective of promoting productive inclusion by offering knowledge, financial empowerment and connections to people who have historically been excluded from the labor market. For Ambev, productive inclusion means expanding access for people and small businesses to the economic opportunities generated by its value chain, strengthening local capacities, promoting autonomy for income generation, and contributing to the socioeconomic development of the territories where it operates. Although it is not part of the formal scope of the 2025 commitments, our ambition is to productively include 5 million people by 2032 Bora Hub's activities are guided by a theory of change structured around three pillars: Access to Finance Provides access to capital for income generation, such as credit, work materials, scholarships and training programs. Capacity Building Training initiatives focused on technical, social, vocational, and entrepreneurial development, expanding the skills required for personal development and income generation. Networking Facilitates connections between actors and structures, promoting both access to employment opportunities for individuals, and the integration of entrepreneurs into collaborative networks. Over the past few years, the program has supported dozens of projects with this purpose across the entire national territory. Among our strategic partners are Catho, Movimento Black Money, Rede Mulher Empreendedora, and the 1MiO platform, in addition to integration with Ambev ecosystem platforms such as Zm Delivery and BEES. BORA's initiatives have already productively included more than 1.5 million Brazilians nationwide. MAIN BOrA INITIATIveS Bora Empregar Connects people seeking employment with employers through a platform available to more than 1 million points of sale within the Ambev ecosystem. In partnership with Catho, it expands access to job opportunities, especially for individuals who face barriers to entering the labor market. Bora Empreendedor Focused on micro and small businesses, the program offers microcredit at reduced rates, as well as training and mentoring for bar and restaurant owners. In partnership with Abrasel and the Estímulo Impact Fund, the initiative strengthens management, planning, and sales, driving local economic development. Bora Catadores (Waste Pickers initiative) In partnership with Polen and Hive, the initiative builds recycling hubs in different Brazilian states. These units promote decent work for participating waste pickers through the distribution of adequate equipment, remuneration above the market average, monitoring by a social worker and referral to education programs Building on this learning, and leveraging its scale and network of connections, Bora decided to expand its impact by connecting and accelerating other organizations that also work with productive inclusion. With this in mind, Bora Hub was launched-a cooperation platform among various organizations focused on productive inclusion. With more than 100 partner organizations, including companies, the third sector, civil society, and international institutions, it is currently one of the largest entrepreneurship and employability spaces in the world, with over 30 active projects. In 2025, this initiative completed its first year as an impact ecosystem aimed at social and economic inclusion. Developed in partnership with Yunus Social Business, the hub connected employability, professional training, and income generation initiatives across different regions of the country, already reaching approximately 5 million people throughout the period. Bora Hub's activities contributed to the generation of approximately BRL 800 million in indirect income through projects that benefited groups such as waste pickers, street vendors, youth, women entrepreneurs, and small businesses. The network of partner institutions promotes ideation meetings, content generation, newsletters, and fundraising support, aiming to leverage productive inclusion projects and generate an indirect and exponential impact across the entire national territory. Our objective is clear: to generate income as the primary tool for overcoming poverty, supporting people in vulnerable situations and strengthening local ecosystems of work and entrepreneurship. 2025 Annual and Sustainability Report 34 AMA: INClUSION, IMPACT AND PUrPOSe In 2017, we launched AMA mineral water, the result of a partnership with Yunus Social Business. In a context where 35 million Brazilians were still living without access to treated water, according to data from Instituto Trata Brasil, our commitment was ambitious and transparent: to bring safe drinking water to more than 1 million people in vulnerable situations. From its inception, AMA was designed as a social impact business, with 100% of its profits allocated to supporting initiatives that expand access to safe drinking water in different regions of the country. By 2025, the brand had already enabled more than BRL 10 million in resources, directed to over 135 projects developed in partnership with civil society organizations and local actors, reaching communities in more than 15 Brazilian states. These efforts are part of a broader national movement to expand access to water. According to Instituto Trata Brasil, the number of Brazilians without access to safe drinking water has fallen to approximately 32 million since 2017, as a result of the combined efforts of public authorities, the private sector and civil society. In this context, Ambev contributes in a complementary way to this agenda by expanding investments, supporting localized solutions and strengthening the resilience of the communities served. The reach and effectiveness of these initiatives occur in coordination with institutions such as Fundação Avina, Água Camelo, Florescer, Deep and SDW, in addition to dozens of local partners that ensure the implementation of actions aligned with the realities and needs of each territory. Solutions are designed according to local contexts and include initiatives ranging from drilling wells and restoring community water systems to building school cisterns, installing portable filters and adopting adapted technologies, covering Brazil's Northeast Semi-Arid region, Indigenous villages in Amazonas and Acre and urban peripheries of capitals such as São Paulo and Rio de Janeiro. 2025 Annual and Sustainability Report 35 ÁGUA SOMOS: IMPACT beyOND bOrDerS In Bolivia, we strengthened our commitment to sustainability and social impact through Agua SOMOS, a purpose-driven brand that transforms every purchase decision into tangible impact. The initiative has already benefited approximately 1,000 families across 10 communities in six departments (equivalent to states) in Bolivia, expanding access to safe water in vulnerable areas. Based on a sustainable business model, for every 2 liters of potable water sold, Água SOMOS allocates 1 boliviano (the official currency of Bolivia) to projects that expand access to potable water. Ten projects have already been implemented under this model, including four rainwater harvesting systems with a capacity of 12,000 liters each in the Pilón Lajas Biosphere Reserve, in the department of Beni. This initiative has benefited more than 200 members of the Tsimane indigenous people, with solutions that include filtration systems and anti-mercury structures. The initiative reinforces our commitment to sustainability by prioritizing community well-being as the foundation of shared prosperity, demonstrating how companies can lead sustainable change through real, scalable and collaborative actions. AMbev AGAINST HUNGer We work to reduce food waste and expand access to food in vulnerable communities by allocating to partner organizations food products that have lost commercial value within our ecosystem but retain their nutritional value. Ambev Contra a Fome has already donated more than 2,000 tons of food and enabled 10 million meals between 2022 and 2025. In the last year, the program also generated BRL 800 thousand in sales of "surprise bags" through our partnership with Food To Save, strengthening small businesses and reducing greenhouse gas (GHG) emissions, equivalent to 500,000 kg of CO2 avoided throughout the year. These initiatives demonstrate that it is possible to grow while generating shared value, where every product, partnership and project contributes to a common objective: improving people's lives and preserving the planet's resources. We remain committed to a long-term journey that combines economic value creation with positive social impact, ethics and environmental responsibility. It is upon this solid foundation that we are building an ecosystem prepared for economic and social challenges. 2025 Annual and Sustainability Report 36 SUPPOrT FOr MICrO AND SMAll SUPPlIerS To foster the growth of local businesses, we also offer tailored development tools for small and diverse suppliers, primarily operating in raw materials, packaging, logistics and general services. One of these initiatives implemented in Brazil is Flex Payment, a payment term flexibility policy offered as a benefit for small and microenterprises within our supply chain. Flexible payment terms of 30 and 60 days vary according to the size of the partner, the segment and the sales history. VAlUe CHAIN DevelOPMeNT Developing the value chain is essential to ensuring consistent growth and continuous innovation. By strengthening suppliers, farmers, customers and logistics partners, we expand efficiency, resilience and competitiveness. In this way, we grow in an integrated manner, sharing value from the origin of inputs to the final consumer experience. DIGITIZATION AND PerFOrMANCe Digitization has transformed the way Ambev engages with and contributes to the performance of its suppliers. In Brazil, through the Connect platform (Supplier Relationship Management - SRM), we consolidated strategic information from the entire supply base, ensuring real-time visibility into performance, compliance and sustainability indicators. Connect enables each supplier to access guidance on best practices and participate in continuous improvement initiatives. The platform also reinforces data security, traceability, and transparency, which are pillars of modern risk management integrated with the Company's sustainability strategy. 2025 Annual and Sustainability Report 37 About the Report Message from Management DIGITIZE AND MONETIZE OUR ECOSYSTEM LEAD AND EXPAND THE CATEGORY Our Strategy Our Commitments Beer and a balanced lifestyle Production and Innovation Shared Value Stakeholders Annexes OPTIMIZE OUR BUSINESS Natural Resources and Operational Efficiency Governance Our People Financial Performance Digitize and monetize our ecosystem STAkeHOlDerS 2025 Annual and Sustainability Report 38 W e believe that listening is the first step toward progress. Ongoing dialogue with consumers, communities, customers, suppliers, investors and employees guides our strategic decisions, strengthens trust-based relationships and drives responsible and inclusive innovation. In 2025, we took a further step in consolidating an integrated listening governance model, expanding the reach, quality and depth of interactions with the audiences that make up our ecosystem. More than collecting perceptions, we seek to understand contexts, expectations and behaviors, transforming data into concrete inputs for innovation, communication and corporate sustainability. ADvANCeS IN lISTeNING AND eNGAGeMeNT CHANNelS Throughout the 2025 cycle, we evolved across all dimensions of our listening system, with a focus on four priority groups: consumers, communities, suppliers and employees. Consumers: we enhanced our digital relationship channels and brand perception monitoring systems by integrating interaction data and feedback collected through customer service platforms, social media and consumer experience programs. These insights have supported strategic decisions in marketing, portfolio management and communication, enabling faster and more personalized responses. 2025 Annual and Sustainability Report Communities: we strengthened dialogue with the regions where we operate, particularly in territories surrounding industrial operations and water and sustainable agriculture projects. The focus was on active listening related to social impacts, inclusion opportunities and environmental quality. Suppliers: through the Connect Platform (SRM), we digitized listening and feedback processes, enabling the systematic collection of perceptions related to joint innovation, timelines and sustainability criteria. The data gathered strengthens dialogue and action with suppliers on climate performance, process efficiency and decarbonization practices. Employees: we continued to strengthen internal listening mechanisms by expanding the Global Engagement Survey and promoting dialogue sessions focused on organizational culture and related topics. Participation across the different channels remained high, indicating the relevance of these spaces for exchanging perspectives and continuously improving management and relationship practices. 39 CONSUMer INSIGHTS In 2025, we completed a comprehensive study aimed at deepening our understanding of the cultural, emotional and social factors that shape Brazilian consumers' choices regarding alcoholic and non-alcoholic beverages. This mapping enabled us to identify major trends and decision-making patterns that influence not only what people consume, but also why they consume. The analyses reveal significant shifts, with increased emphasis on health and wellness, purpose, authenticity, balance and well-being. These insights broaden our understanding of contemporary behaviors and strengthen integration across innovation, marketing, and sustainability, guiding both product development and how we engage with society. It was from this perspective that we created Consumer Hours in Brazil, a structured listening program that has been transforming the relationship between consumers and our marketing, innovation and strategy teams. The model consists of in-person and virtual sessions-individual or group-based-in which consumers share habits, perceptions, expectations and behaviors directly with the professionals responsible for communication and brands. This proximity makes it possible to decode cultural and emotional trends, transform opinions into strategic intelligence and continuously embed the consumer's voice into the creative process. In Brazil, where beer holds deep cultural significance associated with celebration, social interaction and the way of life of millions of people, Consumer Hours has enabled the team to understand behavioral nuances that go far beyond the glass. These insights have guided everything from the development of new products to activations at major cultural events, concerts and festivals. One example of this integration was the festival Todo Mundo no Rio: listening sessions with fans of the brand and the headlining artist guided communication 2025 Annual and Sustainability Report and experience decisions, contributing to Corona becoming the most recalled brand at the event, according to Ipsos research. Led by the Strategy & Insights team, the program has become a robust tool for audience understanding and, since its launch, has accumulated more than 9,000 hours of conversations and 72 structured research journeys, with over 200 active participants in Brazil. The positive results led the methodology to expand to several countries where Ambev operates, strengthening our global vision of consumption and inspiring solutions tailored to the specific characteristics of each market. More than a research tool, Consumer Hours is a living cycle of innovation. Conversations generate ideas; ideas return in the form of products, campaigns and initiatives; and these learnings flow back to the public, creating a relationship of co-creation. This process strengthens bonds, expands perspectives and ensures our brands remain closely aligned with social, cultural and consumption transformations. MAIN OrGANIzATIONS We Are PArT OF » Associação Brasileira de Anunciantes (Brazilian Association of Advertisers) (ABA) » Associação Brasileira das Indústrias da Alimentação (Brazilian Food Industry Association) (Abia) » Associação Brasileira das Indústrias de Refrigerantes e Bebidas não Alcoólicas (Brazilian Association of Soft Drink and Non-Alcoholic Beverage Industries) (Abir) » Associação Brasileira das Companhias Abertas (Brazilian Association of Publicly Held Companies) (Abrasca) » Associação Brasileira de Bares e Restaurantes (Brazilian Association of Bars and Restaurants) (Abrasel) » Associação Brasileira de Franchising (Brazilian Franchising Association) (ABF) » Associação Brasileira de Mobilidade e Tecnologia (Brazilian Association for Mobility and Technology) (Amobitec) » Associação Brasileira de Private Equity e Venture Capital (Brazilian Private Equity and Venture Capital Association) (ABVCAP) » Aya HUB » Confederação Nacional da Indústria (National Confederation of Industry) (CNI) » Conselho Empresarial Brasileiro para o Desenvolvimento Sustentável (Brazilian Business Council for Sustainable Development) (CEBDS) » Centro de Cidadania Fiscal (Fiscal Citizenship Center) (CCiF) » Centro de Estudos de Direito Econômico e Social (Center for Economic and Social Law Studies) (Cedes) » Centro de Informações sobre Saúde e Álcool (Center for Information on Health and Alcohol) (Cisa) » Centro de Integração de Negócios (Business Integration Center) (Integrare) » Cubo Itaú » Federação das Indústrias do Estado do Rio de Janeiro (Federation of Industries of the State of Rio de Janeiro) (Firjan) » Federação das Indústrias do Estado de São Paulo (Federation of Industries of the State of São Paulo) (Fiesp) » Grupo de Estudos Tributários Aplicados (Applied Tax Studies Group) (Getap) » Instituto Ethos (Ethos Institute for Business and Social Responsibility) (Instituto Ethos) » Instituto de Estudos para o Desenvolvimento Industrial (Institute for Industrial Development Studies) (Iedi) » Instituto Pacto Nacional pela Erradicação do Trabalho Escravo (National Pact Institute for the Eradication of Slave Labor) (InPACTO) » Grupo de Líderes Empresariais (Business Leaders Group) (LIDE) » Movimento pela Equidade Racial (Movement for Racial Equity) (Mover) » Rede Brasil do Pacto Global da ONU (Brazil Network of the UN Global Compact) » Rede pela Circularidade do Plástico (Plastic Circularity Network) » Pacto pela Igualdade Racial (Racial Equality Pact) » Plataforma Parceiros pela Amazônia (Partners for the Amazon Platform) (PPA) » Sindicato Nacional da Indústria da Cerveja (National Beer Industry Union) (Sindicerv) 40

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