analysis of the 4Q results 2009 of AB Inbev and the outlook for 2010

1. Anheuser-BuschInbev Financial analysis 4Q09

2. Overview General information Financial results 4Q2009 Outlook 2010 Conclusion 2

3. General information The leading global brewer One of the top 5 consumer products companies in the world Has 4 of the top 10 selling beers 3

4. General information 2008: take over Anheuser-Busch Six operational zones 116 000 employees in 23 countries ‘The Best Beer Company in a Better World’ 4

5. Volume performance 5

6. Cost of sales Operating expenses 6

7. Revenue 7

8. Outlook 2010 Completion of divestiture program & successful integration of AB focus on the core business 500 million USD of synergy captures Higher EBITDA growth rates 8

9. My conclusion AB Inbev growing company realistic view good performance has increased their sales and marketing investments 9

10. Thank you for your attention 10