AB InBev Financial Results

These tender offers were financed with cash. Net debt is defined as non-current and current interest-bearing loans and borrowings and bank overdrafts minus debt securities and cash and cash equivalents. Net debt is a financial performance indicator that is used by AB InBev's management to highlight changes in the company's overall liquidity position. AB InBev's net debt decreased to 69.7 billion US dollar as at 31 December 2022, from 76.2 billion US dollar as at 31 December 2021. Aside from operating results that are net of capital expenditures, the net debt is impacted mainly by the payment of interests and taxes (6.1 billion US dollar), dividend payments to shareholders of AB InBev and Ambev (2.4 billion US dollar) and foreign exchange impact on net debt (1.5 billion US dollar decrease of net debt). The following table provides a reconciliation of AB InBev's net debt as at the dates indicated: Million US dollar Non-current interest-bearing loans and borrowings Current interest-bearing loans and borrowings Interest-bearing loans and borrowings Bank overdrafts 31 December 2022 31 December 2021 78 880 1 029 79 909 87 369 1 408 88 777 83 53 (9 973) (12 097) Interest bearing loans granted and other deposits (included within Trade and other receivables) (183) (175) Debt securities (included within Investment securities) (123) (396) Net debt 69 713 76 162 Reconciliation of liabilities arising from financing activities Cash and cash equivalents The table below details the changes in the company's liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be classified in the company's consolidated cash flow statement from financing activities. Million US dollar Balance at 1 January 2022 Proceeds from borrowings Payments on borrowings Amortized cost Capitalization/ (payment) of lease liabilities Unrealized foreign exchange effects Current portion of long-term debt (Gain)/Loss on bond redemption and other movements Balance at 31 December 2022 Million US dollar Balance at 1 January 2021 Proceeds from borrowings Payments on borrowings Capitalization (payment) of lease liabilities Amortized cost Unrealized foreign exchange effects Current portion of long-term debt (Gain)/Loss on bond redemption and other movements Balance at 31 December 2021 20 67 Long-term debt, net of current portion 87 369 74 (6 698) 794 63 (1 776) (617) (329) 78 880 Short-term debt and current portion of long- term debt 1 408 17 (567) (519) (6) 617 79 1 029 Long-term debt, net of current portion 95 478 148 (6 735) 697 64 Short-term debt and current portion of long- term debt 3 081 306 (2 230) (547) (2 149) (88) (875) 875 741 10 87 369 1 408

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