Article 13. BONDS, SUBSCRIPTION RIGHTS AND OTHER SECURITIES GIVING RIGHT TO SHARES
13.1 The Company may issue bonds by resolution of the Board of Directors and on such conditions as it shall determine. The
Shareholders Meeting, or the Board of Directors acting within the framework of the authorised capital, may decide to issue convertible bonds, bonds repayable into Shares, subscription rights or any other financial instrument giving right to
Shares, subject to Article 12.
13.2 The holders of convertible bonds or subscription rights have the right to attend the
Shareholders Meetings, but only in a consultative capacity.
Article 14. PAYMENTS
14.1 The Board of Directors may make calls upon the shareholders in such amounts and at such times as it shall fix in respect of any moneys to
be paid on the Shares issued further to a capital increase.
Any shareholder who, after fifteen calendar days as from notice given by
registered letter, remains in default of payment, shall pay the Company interest at the statutory rate plus two per cent as from the due date. Where such failure is not remedied within one month of a second notice, the Board of Directors may declare
the shareholders rights forfeited and cause the Shares to be sold without prejudice to the right to claim from it any remainder outstanding plus such damages as may apply.
14.2 The Board of Directors may authorise shareholders to pay in anticipation the moneys uncalled on their Shares on such terms as it shall
fix.
Article 15. ACQUISITION BY THE COMPANY OF ITS OWN SHARES
15.1 The Company may, without any prior authorisation of the Shareholders Meeting, in accordance with article 7:215 of the Code where
applicable, acquire, on or outside the stock exchange, its own Shares up to a maximum of 20% of the outstanding Shares of the Company for a unitary price which will not be lower than one euro (EUR 1,-) and not higher than 20% above the highest
closing price on Euronext Brussels during the last twenty trading days preceding the acquisition. Such authorisation is granted for a period of five years as from the date of publication of the amendment of the Articles of Association resolved upon
by the extraordinary Shareholders Meeting of 28 April 2021.
15.2 The Company may, without any prior authorisation of the
Shareholders Meeting, in accordance with article 7:218 of the Code, dispose, on or outside the stock exchange, of the Shares of the Company which were acquired by the Company under the conditions determined by the Board of Directors.
With respect to the Shares acquired by the Company as a result of the merger between the Company and Anheuser-Busch InBev SA/NV, the Board of
Directors shall be entitled to dispose of such Shares only in connection with (i) any Share delivery obligations undertaken by Anheuser-Busch InBev SA/NV prior to 11 November 2015, (ii) any stock option plans or other compensation plans
(including the Zenzele scheme), or (iii) any stock lending agreement or similar arrangement in respect of which the Company used the Shares for the purposes set out in items (i) and (ii).
15.3 The authorisation set forth in Article 15.1 also extends to acquisitions of Shares by direct subsidiaries of the Company made in
accordance with article 7:221 of the Code. In addition, direct subsidiaries of the Company may, without any prior authorisation of the Shareholders Meeting, dispose of the Shares without any limitation in time, under the conditions set out in
article 7:221 of the Code.
15.4 Indirect subsidiaries of the Company may, without any prior authorisation of the Shareholders
Meeting, acquire or dispose of the Shares without any limitation in time, under the conditions set out in article 7:222 of the Code.
Article 16. INDIVISIBILITY OF SECURITIES
All securities shall be held in undivided ownership
vis-à-vis the Company. Without prejudice to Article 34 relating to representation at the Shareholders Meeting, the Company may suspend all rights
attaching to securities until such time as one person shall have been appointed holder thereof vis à vis the Company.
Article
17. SUCCESSORS IN TITLE
Subject to the other provisions of these Articles of Association, the rights and obligations attaching to a
Share follow that Share, regardless of whom it is transferred to.
Neither the heirs nor the creditors of a shareholder may, on any
grounds whatsoever, require the division or sale by auction of the Companys assets, nor interfere in any way whatsoever with the administration of the Company. They shall, in exercising their rights, abide by the annual accounts and decisions
of the Shareholders Meeting.
10