Budweiser Brewing APAC : GRANT OF VOLUNTARY SHARES AND RESTRICTED STOCK UNITS

About this update from Budweiser Brewing Co. Apac Ltd.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Budweiser Brewing Company APAC Limited ϵ۾ԭ˄છٰϞࠢʮ̡ (A company incorporated in the Cayman Islands with limited liability) (Stock code: 1876) GRANT OF VOLUNTARY SHARES AND RESTRICTED STOCK UNITS The board of directors (the " Board ") of Budweiser Brewing Company APAC Limited (the " Company ") announces that, on 1 March 2021, the Company granted a maximum of 412,240 locked-up shares in the Company (the " Voluntary Shares ") to certain eligible employees (the " Grantees "), and the grant of a maximum 1,111,947 restricted stock units (the " RSUs ") to such Grantees pursuant to the terms of the Share-Based Compensation Plan (the " SBC Plan ") adopted by the Company on 9 September 2019 and the New Restricted Stock Units Plan (the " New RSU Plan ") adopted by the Company on 25 November 2020. Eligible employees were: (a) under the SBC Plan, given the opportunity to elect to receive all or part of their bonuses in the form of Voluntary Shares instead of cash. Eligible employees who opt to receive Voluntary Shares will (i) receive a discount in the form of RSUs, and (ii) as an additional reward, receive "matching" RSUs; and (b) under the New RSU Plan, granted a specified number of RSUs. The number of Voluntary Shares has been determined by reference to the price of HK$23.90 per share in the Company (the " Share "), being the closing price of the Shares on the grant date on 1 March 2021. For further details of the SBC Plan and New RSU Plan, please refer to the Company's prospectus dated 18 September 2019 and the Company's announcement dated 26 November 2020. The maximum number of 412,240 Voluntary Shares and 1,111,947 RSUs offered represent approximately 0.01% of the issued share capital of the Company as at the date of this announcement. The final number of Voluntary Shares and RSUs will only be determined after the Company has processed all final elections made by eligible employees and processed certain other deductions to final entitlements. It is expected that the final number of Voluntary Shares and RSUs will be finalised on or before 26 March 2021. A further announcement will be made to confirm the final number of Voluntary Shares and RSUs. Details of the Grantees, the corresponding maximum number of Voluntary Shares and RSUs granted and vesting schedule are set out below: Grantees Maximum number of Voluntary Shares and RSUs Eligible employees under the SBC Plan 412,240 Voluntary Shares and 527,667 RSUs Eligible employees under the New RSU Plan 584,280 RSUs Locked-up period for Voluntary Shares/Vesting Voluntary Shares: The lock-up period expires between the 3 rd schedule for RSUs under the SBC Plan: and 5 th anniversaries after the grant date RSUs: Vest between the 3 rd and 5 th anniversary after the grant date Vesting schedule for RSUs under RSUs: Vest on the 5 th anniversary after the grant date the New RSU Plan: The Company has appointed a trustee (the " Trustee ") to assist with the administration and vesting of the RSUs and Voluntary Shares. The Company will provide sufficient funds to the Trustee to make on-market purchases of Shares to settle the Voluntary Shares and RSUs in relation to its obligations in connection with the administration and vesting of Voluntary Shares and RSUs granted. None of the Grantees is a connected person (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) as at the date of the grant. The SBC Plan and New RSU Plan do not constitute share option schemes or an arrangement analogous to a share option scheme for the purpose of Chapter 17 of the Listing Rules. By Order of the Board Budweiser Brewing Company APAC Limited Bryan Warner Joint Company Secretary Hong Kong, 1 March 2021 As at the date of this announcement, the Board of Directors of the Company comprises Mr. Jan Craps as Co-Chair and Executive Director, Mr. Carlos Brito as Co-Chair and Non-executive Director, Ms. Katherine Barrett (Mr. John Blood as her alternate) and Mr. Nelson Jamel (Mr. David Almeida as his alternate) as Non-executive Directors, and Mr. Martin Cubbon, Ms. Mun Tak Marjorie Yang and Ms. Katherine King-suen Tsang as Independent Non-executive Directors.

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