AB InBev Financial Results

The reconciliation of the effective tax rate with the aggregated weighted nominal tax rate can be summarized as follows: Million US dollar 2022 20211 Profit/(loss) before tax Deduct share of results of associates Deduct non-underlying share of results of associates Profit before tax and before share of results of associates Adjustments to the tax basis Government incentives Non-deductible/(non-taxable) mark-to-market on derivatives Other expenses not deductible for tax purposes Other non-taxable income Adjusted tax basis Aggregate weighted nominal tax rate 9 524 8 463 248 299 (1143) 10 369 (713) (606) 1 590 (576) 10 065 8 215 (543) 48 1 979 (476) 9 223 26.7% Tax at aggregated nominal tax rate 26.7% (2 691) (2 463) Adjustments on tax expense Recognition/(de-recognition) of deferred tax assets on tax losses (carried forward) (Underprovided)/overprovided in prior years Deductions from interest on equity Deductions from goodwill and other tax deductions Change in tax rate Withholding taxes Other tax adjustments Total tax expense Effective tax rate (128) (284) 157 159 790 469 473 226 48 (147) (436) (485) (140) 175 (1928) (2 350) 18.6% 28.6% The total income tax expense for 2022 amounts to 1 928m US dollar compared to 2 350m US dollar for 2021. The effective tax rate is 18.6% for 2022 compared to 28.6% for 2021. The 2022 effective tax rate is positively impacted by non-taxable gains from derivatives related to hedging of share-based payment programs and hedging of the shares issued in a transaction related to the combination with Grupo Modelo and SAB, while the 2021 effective tax rate was negatively impacted by non-deductible losses from these derivatives. In addition, the 2022 effective tax rate was positively impacted by higher distribution of interest on shareholders' equity from Brazil and lower non-deductible costs. The 2022 effective tax rate includes 350m US dollar benefit from a reorganization which resulted in the utilization of current year and carry forward interests for which no deferred tax asset was recognized (refer to Note 8 Non-underlying items). The company benefits from tax exempted income and tax credits which are expected to continue in the future. The company does not have significant benefits coming from low tax rates in any particular jurisdiction. The normalized effective tax rate for 2022 is 23.0% (2021: 28.0%). The normalized effective tax rate excluding mark-to- market gains or losses on derivatives related to the hedging of share-based payment programs for 2022 is 23.8% (2021: 27.9%). Normalized effective tax rate is the effective tax rate adjusted for non-underlying items. Normalized effective tax rate is not an accounting measure under IFRS accounting and should not be considered as an alternative to the effective tax rate. Normalized effective tax rate method does not have a standard calculation method and AB InBev's definition of normalized tax rate may not be comparable to other companies. 1 Amended to conform to 2022 presentation. 53

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