AB InBev Financial Results

Consolidated statement of cash flows For the year ended 31 December Million US dollar OPERATING ACTIVITIES Profit of the period Depreciation, amortization and impairment Net finance cost/(income) Equity-settled share-based payment expense Income tax expense Other non-cash items Share of result of associates Notes 2022 20211 7 597 6 114 10 5 078 5 052 11 4 148 5 609 24 448 510 12 1 928 (102) 2 350 (581) 16 Cash flow from operating activities before changes in working capital and use of provisions Decrease/(increase) in trade and other receivables Decrease/(increase) in inventories Increase/(decrease) in trade and other payables Pension contributions and use of provisions Cash generated from operations Interest paid Interest received Dividends received 844 19 941 (48) (1547) 1 249 (351) 19 244 18 806 164 (1 232) 3 527 (375) 20 890 (248) Income tax paid Cash flow from operating activities (4 133) (3 987) 611 158 200 106 (2 582) (2 410) 13 298 14 799 INVESTING ACTIVITIES Acquisition of property, plant and equipment and of intangible assets 13/15 Proceeds from sale of property, plant and equipment and of intangible assets Sale/(acquisition) of subsidiaries, net of cash disposed/ acquired of (5 160) 322 (5 640) 142 6 (70) (444) Proceeds from sale/(acquisition) of other assets 288 65 Cash flow from/(used in) investing activities (4 620) (5 878) FINANCING ACTIVITIES Sale/(purchase) of non-controlling interests Proceeds from borrowings Payments on borrowings Cash net finance (cost)/income other than interests Payment of lease liabilities Dividends paid Cash flow from/(used in) financing activities 222 21 22 (20) 91 454 22 (7 265) (8 965) (374) (192) (610) (531) (2 442) (2 364) (10 620) (11 598) (1942) 12 043 (211) 9 890 (2 677) 15 247 (526) 12 043 Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents less bank overdrafts at beginning of year Effect of exchange rate fluctuations Cash and cash equivalents less bank overdrafts at end of period 20 20 The accompanying notes are an integral part of these consolidated financial statements. 1 Amended to conform to 2022 presentation. 31

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