St. Louis Investor Conference

Chains are Growing in Importance to AB InBev US AB InBev US % of Chain Sales AB InBev US Chain vs. Independent Trend Difference 23% 40% 37% +1.5 +2.7 +1.5 +2.4 +4.1 +3.3 1990 2007 2010e 2004 2005 2006 2007 Chain Sales +3.4% 2008 2009 Chain volume has been growing ... Widening the gap to independents Source: SMART/BudNET AB InBev US STRs/Chain Sales (excludes NE Wslr Shipments)

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