Replacement: Clarificatory Statement

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Anheuser-Busch InBev Clarificatory Statement Regarding Shareholder Support for its Proposed Combination with SABMiller

Further to its announcement earlier today of a proposed combination with SABMiller, Anheuser-Busch InBev ("AB InBev") (Euronext: ABI) (NYSE: BUD) wishes to confirm that the announcement of a formal transaction would be subject to a number of pre-conditions, including the execution of irrevocable undertakings to vote in favor of the transaction and the elections for the partial share alternative from Altria Group, Inc. and BevCo Ltd., in each case in respect of all of their shareholding and in a form acceptable to AB InBev. AB InBev reserves the right to waive in whole or in part any of the pre-conditions to making an offer as set out in its earlier announcement.

Further to recent press commentary, AB InBev wishes to clarify that it does not currently have the support of BevCo Ltd. for the proposed combination.

AB InBev is pleased to note the public statement today by Altria Group, Inc. of its support for AB InBev's proposal to combine with SABMiller.

In accordance with Rule 2.6(a) of The City Code on Takeovers and Mergers ("the Code"), AB InBev must, by not later than 5.00 p.m. on Wednesday 14 October 2015, either announce a firm intention to make an offer for SABMiller in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SABMiller, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of SABMiller and the Takeover Panel in accordance with Rule 2.6(c) of the Code.