Common use of CONTRACTUAL TERMS Clause in Contracts

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 which[, as supplemented by the supplement to the Base Prospectus dated [date] (the ‘‘Supplement’’),] constitutes a base prospectus for the purposes of Directive 2003/71/EC (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [date]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus dated 16 May 2012 [(as so supplemented)]. Copies of the Base Prospectus [and the Supplement] are available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 which[, as supplemented by the supplement to the Base Prospectus dated [date] (the ‘‘Supplement’’),] constitutes a base prospectus for the purposes of Directive 2003/71/EC (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘"Conditions’’") contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus base prospectus dated 14 July 2020 [and the supplemental base prospectus dated [original date•] and incorporated by reference into which [together] constitute[s] a base prospectus (the "Base Prospectus") for the purposes of Regulation (EU) 2017/1129 (the "Prospectus dated 16 May 2012 and which are attached heretoRegulation"). This document constitutes the Final Terms of the Notes described herein [for the a Include where Part B item 6(vi) of the Final Terms specifies "Applicable". purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) Regulation] and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [date]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus DirectiveProspectus. Full information on the Issuer[, the Guarantors Guarantor] and the offer of the Notes described herein is only available on the basis of the combination of these Final Terms and the Base Prospectus dated 16 May 2012 [(as so supplemented)]Prospectus. Copies of the The Base Prospectus [and the Supplementthese Final Terms] are [is] [are] available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange Euronext Dublin (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.htmlxxxx://xxx.xxx.xx) and copies may be obtained during normal business hours at the specified offices of the Issuer[, the Guarantor] and the Principal Paying Agents for Agent and copies may be obtained from such offices]. [The following alternative language applies if the time first tranche of an issue that is being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]increased was issued under a base prospectus with an earlier date.] [Include whichever Terms used herein shall be deemed to be defined as such for the purposes of the following apply or specify as ‘‘Not Applicable’’ Conditions (N/Athe "Conditions") set forth in the base prospectus dated [•] [and the supplemental prospectus dated [•]] which are incorporated by reference into the base prospectus dated 14 July 2020 [and the supplemental prospectus dated [•]], which [together] constitute[s] a base prospectus] (the "Base Prospectus") for the purposes Regulation (EU) 2017/1129 (the "Prospectus Regulation"). Note that This document constitutes the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated applicable Final Terms of the Notes described herein [for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 purposes of the Prospectus Directive.Regulation] and must be read in conjunction with the Base Prospectus. Full information on the Issuer[, the Guarantor] and the offer of the Notes described herein is only available on the basis of the combination of these Final Terms and the Base Prospectus. The Base Prospectus [and these Final Terms] [If is] [are] available for viewing on the Notes have a maturity website of less than one year from Euronext Dublin (xxxx://xxx.xxx.xx) and during normal business hours at the date offices of their issuethe Issuer[, the minimum denomination Guarantor] and the Principal Paying Agent and copies may need to be £100,000 or its equivalent in any other currencyobtained from such offices].] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Base Prospectus dated 16 May 2012 which[, as supplemented by the supplement to the Base Prospectus dated [date25 June 2014 which constitute[s] (the ‘‘Supplement’’),] constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC EC) (as amended, which includes amendments made by Directive 2010/73/EU to the effect that such amendments have been implemented in a relevant Member State) (the ‘‘"Prospectus Directive’’"). This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors Group Guarantor and the LLP and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] available for viewing on the website Copies of the Regulatory News Service operated by Prospectus are available free of charge to the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) and copies may be obtained during normal business hours public at the specified offices registered office of the [Issuer and from the specified office of each of the Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]Agents. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the ‘‘"Terms and Conditions’’") contained in the Agency Agreement dated [original date] and set forth in the Base prospectus dated [●] which are incorporated by reference in the Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto●]. This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (as amended, which includes amendments made by Directive 2010/73/EU to the ‘‘effect that such amendments have been implemented in a relevant Member State) (the "Prospectus Directive’’) "), as amended, to the extent that such amendments have been implemented in a Member State, and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [date●]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive. Full information on the Issuer, the Guarantors Group Guarantor and the LLP and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus dated 16 May 2012 [(as so supplemented)●]. Copies of the Base Prospectus [and the Supplement] are available for viewing on at xxxx://xxx.xxxxxxxxxxxxxx.xx.xx/investors/debt-investors.aspx and are available free of charge to the website public at the registered office of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) Issuer and copies may be obtained during normal business hours at from the specified offices office of each of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary AgentAgents.].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)

CONTRACTUAL TERMS. The Prospectus referred to below (as completed by these Final Terms) has been prepared on the basis that any offer of Covered Bonds in any Member State of the European Economic Area which has implemented the Prospectus Directive 2003/71/EC (the Prospectus Directive) (each, a Relevant Member State) will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a prospectus for offers of the Covered Bonds. Accordingly any person making or intending to make an offer in that Relevant Member State of the Covered Bonds may only do so in circumstances in which no obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer. Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any offer of Covered Bonds in any other circumstances. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 which5 November 2010 [, as supplemented by and the supplement to the Base Prospectus dated [insert date]] (the ‘‘Supplement’’)[together,] constitutes the Prospectus), which constitute[s] a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC EC) (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplementedOffering Circular. Full information on the Issuer, the Guarantors Guarantor and the Covered Bond Guarantor and the offer of the Notes Covered Bonds is only available on the basis of the combination of these Final Terms and the Base ProspectusOffering Circular. Pursuant to Article 14(2) of the Prospectus Directive, as so supplemented. The Base Prospectus [is/the Offering Circular is available, free of charge, at the registered office of the Issuer and the Supplement are] available for viewing on the website of the Regulatory News Service operated by the London Luxembourg Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxxxxx.xxxxxx.xx) and copies may be obtained during normal business hours at obtained, free of charge, from the specified offices registered office of the [Principal Paying Agents for the time being in LuxembourgAgent at Winchester House, The Netherlands and Germany/Domiciliary Agent]0 Xxxxx Xxxxxxxxxx Xxxxxx, Xxxxxx, XX0X 0XX. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus an Offering Circular with an earlier date. .] Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] [and incorporated by reference into the Base supplement to the Prospectus dated 16 May 2012 and which are attached hereto[insert date]]. This document constitutes the Final Terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [date]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus dated 16 May 2012 [(as so supplemented)]. Copies of the Base Prospectus [and the Supplement] are available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)Article

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Base Prospectus dated 16 May 2012 which[, as supplemented by the supplement to the Base Prospectus dated [date●] (the ‘‘Supplement’’),which constitute[s] constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC EC) (as amended, which includes amendments made by Directive 2010/73/EU to the effect that such amendments have been implemented in a relevant Member State) (the ‘‘"Prospectus Directive’’"). This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors Group Guarantor and the LLP and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] available for viewing on the website Copies of the Regulatory News Service operated by Prospectus are available free of charge to the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) and copies may be obtained during normal business hours public at the specified offices registered office of the [Issuer and from the specified office of each of the Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]Agents. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the ‘‘"Terms and Conditions’’") contained in the Agency Agreement dated [original date] and set forth in the Base prospectus dated [●] which are incorporated by reference in the Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto●]. This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (as amended, which includes amendments made by Directive 2010/73/EU to the ‘‘effect that such amendments have been implemented in a relevant Member State) (the "Prospectus Directive’’) "), as amended, to the extent that such amendments have been implemented in a Member State, and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [date●]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive. Full information on the Issuer, the Guarantors Group Guarantor and the LLP and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus dated 16 May 2012 [(as so supplemented)●]. Copies of the Base Prospectus [and the Supplement] such Prospectuses are available for viewing on free of charge to the website public at the registered office of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) Issuer and copies may be obtained during normal business hours at from the specified offices office of each of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary AgentAgents.].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 January 2009 which[, as supplemented by the supplement to the Base Prospectus dated [date] (the ‘‘Supplement’’),] constitutes a base prospectus for the purposes of Directive 2003/71/EC (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxxxxx.xxxxxxxxxxxxxxxxxxx.xxx/xx-xx/xxxxxxxxxx/xxxxxxxxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto]. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) EC (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and current date] which[, as supplemented by the supplement to the Base Prospectus dated [date]] (the ‘‘Supplement’’), which [together,] constitute[s] constitutes a base prospectus for the purposes of the Prospectus Directive, save in respect of the Conditions which are extracted from the Base Prospectus dated [original date] and are attached hereto. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus Prospectuses dated 16 May 2012 January 2009 [(as so supplemented)] and [original date]. Copies of the such Base Prospectus Prospectuses [and the Supplement] are available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.htmlxxx.xxxxxxxxxxxxxxxxxxx.xxx/xx-xx/xxxxxxxxxx/xxxxxxxxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new supplement to or replacement of the Base Prospectus may need to be prepared in respect of the New Issuer)

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 January 2009 which[, as supplemented by the supplement to the Base Prospectus dated [date] (the ‘‘Supplement’’),] constitutes a base prospectus for the purposes of Directive 2003/71/EC (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxxxxx.xxxxxxxxxxxxxxxxxxx.xxx/xx-xx/xxxxxxxxxx/xxxxxxxxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto]. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) EC (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and current date] which[, as supplemented by the supplement to the Base Prospectus dated [date]] (the ‘‘Supplement’’), which [together,] constitute[s] constitutes a base prospectus for the purposes of the Prospectus Directive, save in respect of the Conditions which are extracted from the Base Prospectus dated [original date] and are attached hereto. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus Prospectuses dated 16 May 2012 January 2009 [(as so supplemented)] and [original date]. Copies of the such Base Prospectus Prospectuses [and the Supplement] are available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.htmlxxx.xxxxxxxxxxxxxxxxxxx.xxx/xx-xx/xxxxxxxxxx/xxxxxxxxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)]

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Base Prospectus dated 16 May 2012 which[, as supplemented by the supplement to the Base Prospectus dated [date] ([and the ‘‘Supplement’’),supplemental Prospectus dated [date]] constitutes which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC EC) (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, Prospectus [as so supplemented]. Full information on the Issuer, the Guarantors Group Guarantor and the LLP and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus, Prospectus [as so supplemented]. The Base Copies of the Prospectus [is/and the Supplement aresupplemental Prospectus] are available for viewing on free of charge to the website public at the registered office of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) Issuer and copies may be obtained during normal business hours at from the specified offices office of each of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]Agents. [The following alternative language applies if the first tranche Tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the ‘‘Terms and Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] [and incorporated by reference into the Base supplemental Prospectus dated 16 May 2012 and which are attached hereto[date]]. This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [current date] [and the supplement to the Base supplemental Prospectus dated [date]] (the ‘‘Supplement’’)], which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive, save in respect of the Terms and Conditions which are extracted from the Prospectus dated [original date] and are attached hereto. Full information on the Issuer, the Guarantors Group Guarantor and the LLP and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus dated 16 May 2012 [(as so supplemented)original date] and [current date] [and the supplemental Prospectus dated [date]]. Copies of the Base Prospectus [and the Supplement] such Prospectuses are available for viewing on free of charge to the website public at the registered office of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) Issuer and copies may be obtained during normal business hours at from the specified offices office of each of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]Agents.] [Include whichever of the following apply or specify as ‘‘"Not Applicable’’ " (N/A). Note that the numbering should remain as set out below, even if ‘‘"Not Applicable’’ " is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When completing any final terms or adding any other final terms or information including final terms at items 9, 10, 15, 16, 17 or 28 of Part A or in relation to disclosure relating to the interests of natural and legal persons involved in the issue/offer in Part B consideration should be given as to whether such terms or information constitute ‘‘"significant new factors’’ " and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)]

CONTRACTUAL TERMS. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 which[15 September, as supplemented by the supplement to the Base Prospectus dated [date] (the ‘‘Supplement’’),] 2005, which constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC EC) (the ‘‘Prospectus Directive’’). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, the Guarantors Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] Final Terms are available for viewing on at [the website offices of the Regulatory News Service operated by Issuing and Principal Paying Agent and the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) office of any Paying Agent in Luxembourg] and copies may be obtained during normal business hours at free of charge from [the specified offices of the [Issuing and Principal Paying Agents for the time being Agent and any Paying Agent in Luxembourg, The Netherlands and Germany/Domiciliary Agent]. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus prospectus with an earlier date. .] Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto]. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [current date]] (the ‘‘Supplement’’), which [together] constitute[s] constitutes a base prospectus for the purposes of the Prospectus Directive, save in respect of the Conditions which are extracted from the Base Prospectus dated [original date] and are attached hereto. Full information on the Issuer, the Guarantors Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus prospectuses dated 16 May 2012 [(as so supplemented)current date] and [original date]. Copies of the Base Prospectus [and the Supplement] such prospectuses are available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) [address] and copies may be obtained during normal business hours at the specified offices free of the charge from [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agentaddress].] . [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphssub- paragraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer). ]

CONTRACTUAL TERMS. The Prospectus referred to below (as completed by these Final Terms) has been prepared on the basis that any offer of Covered Bonds in any Member State of the European Economic Area which has implemented the Prospectus Directive 2003/71/EC (the Prospectus Directive) (each, a Relevant Member State) will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a prospectus for offers of the Covered Bonds. Accordingly any person making or intending to make an offer in that Relevant Member State of the Covered Bonds may only do so in circumstances in which no obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer. Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any offer of Covered Bonds in any other circumstances. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 16 May 2012 which5 November 2010 [, as supplemented by and the supplement to the Base Prospectus dated [insert date]] (the ‘‘Supplement’’)[together,] constitutes a base prospectus for the purposes of Directive 2003/71/EC (the ‘‘Prospectus Directive’’Prospectus). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer, Issuer and the Guarantors Covered Bond Guarantor and the offer of the Notes Covered Bonds is only available on the basis of the combination of these Final Terms and the Base Prospectus. [The Prospectus is available, as so supplemented. The Base Prospectus [is/and free of charge, at the Supplement are] available for viewing on the website registered office of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) Issuer and copies may be obtained during normal business hours at obtained, free of charge, from the specified offices registered office of the [Principal Paying Agents for the time being in LuxembourgAgent at Level 0, The Netherlands and Germany/Domiciliary Agent]. 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxxxxx.] [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base an Prospectus with an earlier date. .] Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and set forth in the Base Prospectus dated [original date] [and incorporated by reference into the Base supplement to the Prospectus dated 16 May 2012 and which are attached hereto[insert date]]. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 5 November 2010 [and the supplement to the Base Prospectus dated [insert date]], save in respect of the Conditions which are extracted from the Prospectus dated [original date] [and the supplement to the Prospectus dated [insert date]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directiveand are attached hereto. Full information on the Issuer, Issuer and the Guarantors Covered Bond Guarantor and the offer of the Notes Covered Bonds is only available on the basis of the combination of these Final Terms and the Base Prospectus Prospectus(es) dated 16 May 2012 5 November 2010 and [(as so supplemented)original date] [and the supplement to the Prospectus(es) dated [insert date] and [insert date]]. Copies of the Base Prospectus such Prospectuses [and supplement to the SupplementProspectus[es]] are available for viewing on available, free of charge, at the website registered office of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) Issuer and copies may be obtained during normal business hours at obtained, free of charge, from the specified offices registered office of the [Principal Paying Agents for the time being in LuxembourgAgent at Level 0, The Netherlands and Germany/Domiciliary Agent].] 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxxxxx. [Include whichever of the following apply or specify as ‘‘“Not Applicable’’ ” (N/A). Note Covered Bond that the numbering should remain as set out below, even if ‘‘“Not Applicable’’ ” is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)]

CONTRACTUAL TERMS. Terms used herein shall will be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Base Prospectus dated 16 May 2012 which[, as supplemented by the supplement to the Base Prospectus dated [date] ([and the ‘‘Supplement’’),supplemental Prospectus dated [date]] constitutes which [together] constitute[s] a base prospectus (the Prospectus) for the purposes of the Prospectus Directive (Directive 2003/71/EC EC) (as amended or superseded, the ‘‘Prospectus Directive’’). This document constitutes the Final Terms final terms of the Notes Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, Prospectus [as so supplemented]. Full information on the Issuer, Issuer and the Guarantors Guarantor and the offer of the Notes Covered Bonds is only available on the basis of the combination of these this Final Terms Document and the Base Prospectus, as so supplemented. The Base Prospectus [is/and the Supplement are] is available for viewing at [address] [and] xxxx://xxx.xxxxxxxxxxxxxxxxxxx.xxx/exchange/news/market-news/market-news-home.html and copies of the Prospectus [and the supplemental Prospectus] are available free of charge to the public at the Executive Offices of the Issuer and from the specified office of each of the Paying Agents. The Guarantor is not now, and, immediately following the issuance of the Covered Bonds pursuant to the Trust Deed, will not be, a "covered fund" for purposes of regulations adopted under Section 13 of the Bank Holding Company Act of 1956, as amended, commonly known as the Xxxxxxx Rule. In reaching this conclusion, although other statutory or regulatory exemptions under the Investment Company Act of 1940, as amended, and under the Xxxxxxx Rule and its related regulations may be available, the Guarantor has relied on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/xxxxxx-xxxx/xxxxxx-xxxx-xxxx.xxxx) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent]. [The following alternative language applies if the first tranche of an issue which is being increased was issued under a Base Prospectus with an earlier date. Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the ‘‘Conditions’’) contained in the Agency Agreement dated [original date] and exemption from registration set forth in the Base Prospectus dated [original date] and incorporated by reference into the Base Prospectus dated 16 May 2012 and which are attached hereto. This document constitutes the Final Terms Section 3(c)(5) of the Notes described herein for Investment Company Act of 1940, as amended. See "Certain Xxxxxxx Rule Considerations" in the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the ‘‘Prospectus Directive’’) and must be read in conjunction with the Base Prospectus dated 16 May 2012 [and the supplement to the Base Prospectus dated [date]] (the ‘‘Supplement’’), which [together] constitute[s] a base prospectus for the purposes of the Prospectus Directive. Full information on the Issuer, the Guarantors and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus dated 16 May 2012 [(as so supplemented)]. Copies of the Base Prospectus [and the Supplement] are available for viewing on the website of the Regulatory News Service operated by the London Stock Exchange (at xxx.xxxxxxxxxxxxxxxxxxx.xxx/xxxxxxxx/xxxx/ market-news/market-news-home.html) and copies may be obtained during normal business hours at the specified offices of the [Paying Agents for the time being in Luxembourg, The Netherlands and Germany/Domiciliary Agent].] [Include whichever of the following apply or specify as ‘‘Not Applicable’’ (N/A). Note that the numbering should remain as set out below, even if ‘‘Not Applicable’’ is indicated for individual paragraphs or subparagraphs. Italics denote directions for completing the Final Terms.] [When adding any other final terms or information consideration should be given as to whether such terms or information constitute ‘‘significant new factors’’ and consequently trigger the need for a supplement to the Base Prospectus under Article 16 of the Prospectus Directive.] [If the Notes have a maturity of less than one year from the date of their issue, the minimum denomination may need to be £100,000 or its equivalent in any other currency.] 1 (a) Issuer: [Brandbrew S.A.] [Anheuser-Xxxxx InBev SA/NV] [other New Issuer] (Note that, in the case of Notes issued by a New Issuer, a new Base Prospectus may need to be prepared in respect of the New Issuer)