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Supplemental guarantor financial information

12 Months Ended

Dec. 31, 2023

Supplemental guarantor financial information

32. Supplemental guarantor financial information

European public debt

Certain debt securities issued outside the United States in reliance on Regulation S by Anheuser-Busch InBev SA/NV (“ABISA”) under its Euro Medium-Term Note Programme are guaranteed by Anheuser-Busch InBev Worldwide Inc. (“ABIWW”), Anheuser-Busch InBev Finance Inc. (“ABIFI”), Anheuser-Busch Companies, LLC (“ABC”), Brandbrew S.A. (“Brandbrew”), Brandbev S.à r.l. (“Brandbev”) and Cobrew NV (“Cobrew”) (collectively, the “Subsidiary Guarantors”). ABISA owns, directly or indirectly, 100% of each of the Subsidiary Guarantors. The information presented below has been presented to

satisfy the disclosure requirements of the United Kingdom Financial Conduct Authority.

Summarized Financial Information

The first five columns in the table below present summarized financial information for (i) ABISA, (ii) ABIWW, (iii) ABIFI and (iv) ABC, and (v) Brandbrew, Brandbev and Cobrew. Investments in consolidated subsidiaries are presented under the equity method of accounting

as “Other non-current assets”.

The final column presents financial information for ABISA and the Subsidiary Guarantors on a combined basis after elimination of intercompany transactions and balances among them and excluding investments in and equity in the earnings of both non-Guarantor Subsidiaries and Guarantor Subsidiaries.


Income Statement For the year ended 31 December 2023 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Revenue		473		-		-		13 260		-		(52)		13 682
Cost of sales		(456)		-		-		(6 330)		-		47		(6 739)
Gross profit		17		-		-		6 930		-		(5)		6 943
Selling, general and administrative expenses		88		1 128		-		(5 889)		5		5		(4 664)
Other operating income/(expenses)¹		132		(4)		-		(285)		1		-		(157)
Profit/(loss) from operations		237		1 124		-		756		6		-		2 122
Net finance income/(cost)¹		(943)		(801)		16		(73)		(93)		-		(1 894)
Income tax expense		(11)		(85)		(5)		(179)		(20)		-		(299)
Profit/(loss)		(717)		238		11		504		(108)		-		(71)
Income from subsidiaries		6 058		761		-		257		421		(7 497)		-
Profit of the period		5 341		999		11		761		314		(7 497)		(71)


Income Statement For the year ended 31 December 2022 2 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Revenue		546		-		-		14 741		-		(57)		15 231
Cost of sales		(447)		-		-		(6 651)		-		51		(7 048)
Gross profit		99		-		-		8 090		-		(6)		8 183
Selling, general and administrative expenses		(326)		1 237		-		(5 752)		7		6		(4 828)
Other operating income/(expenses)¹		215		(4)		-		(23)		(1)		-		187
Profit/(loss) from operations		(11)		1 233		-		2 315		6		-		3 542
Net finance income/(cost)¹		(448)		(700)		15		(1 246)		204		-		(2 174)
Income tax expense		(15)		(125)		(3)		(250)		-		-		(393)
Profit/(loss)		(474)		409		12		818		210		-		975
Income from subsidiaries		6 444		1 014		-		199		263		(7 920)		-
Profit of the period		5 969		1 423		12		1 018		473		(7 920)		975

1	Other operating income/(expenses) and Net finance income/(cost) include exceptional items.

2	Amended to conform to 2023 presentation.


Statement of Financial Position As at 31 December 2023 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Due from subsidiaries		12 812		19 682		3 762		48 907		5 200		(23 405)		66 958
Other non-current assets		111 216		81 459		4		126 096		16 155		(273 481)		61 448
Total non-current assets		124 028		101 141		3 766		175 003		21 355		(296 886)		128 407

Due from subsidiaries		3 240		8 146		448		915		14 744		(10 793)		16 700
Other current assets		234		129		-		1 870		254		-		2 487
Total current assets		3 474		8 275		448		2 784		14 998		(10 793)		19 187

Total equity		81 848		50 663		391		111 217		20 300		(273 481)		(9 062)

Due to subsidiaries		20 852		27 427		-		26 230		526		(23 405)		51 631
Other non-current liabilities		21 255		28 618		3 745		25 848		115		-		79 581
Total non-current liabilities		42 108		56 046		3 745		52 077		641		(23 405)		131 212

Due to subsidiaries		277		2 079		1		11 021		9 236		(10 793)		11 821
Other current liabilitie s		3 270		628		77		3 473		6 175		-		13 622
Total current liabilities		3 547		2 706		78		14 494		15 411		(10 793)		25 444


Statement of Financial Position As at 31 December 2022 1 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Due from subsidiaries		11 750		11 682		3 815		73 067		18 240		(19 522)		99 031
Other non-current assets		113 980		79 570		10		81 020		15 617		(228 219)		61 978
Total non-current assets		125 729		91 252		3 825		154 087		33 857		(247 741)		161 009

Due from subsidiaries		1 457		7 051		428		2 086		1 913		(9 342)		3 595
Other current assets		248		274		-		1 828		11 018		-		13 367
Total current assets		1 705		7 325		428		3 914		12 931		(9 342)		16 962

Total equity		73 398		55 459		380		108 991		23 241		(228 219)		33 250

Due to subsidiaries		20 311		12 018		-		8 500		3 350		(19 522)		24 657
Other non-current liabilities		22 836		30 541		3 802		27 122		200		-		84 502
Total non-current liabilities		43 147		42 559		3 802		35 622		3 550		(19 522)		109 159

Due to subsidiaries		2 517		38		-		9 272		10 408		(9 342)		12 894
Other current liabilities		8 372		521		71		4 115		9 588		-		22 668
Total current liabilities		10 889		559		71		13 387		19 996		(9 342)		35 562

1	Amended to conform to 2023 presentation.