Budweiser Brewing Company APAC Limited (Bud APAC) disclosed two non-recurring items that will weigh on profitability for the quarter ended 30 September 2026.

Internal restructuring impact • Bud APAC completed an internal restructuring involving several Chinese Mainland subsidiaries, including Anheuser-Busch InBev Sedrin Brewery Co., Ltd. • The transaction is expected to trigger a non-underlying withholding-tax charge of about US$52.00 million, directly reducing third-quarter earnings.

Receivables provision in India • Bud APAC supplies beer to a state beverages corporation in Telangana, India. Prolonged payment delays have led the Group to recognise a US$30.00 million provision against overdue trade receivables for Q3 2026. • Management classified the provision as a “scope change,” indicating no effect on reported organic growth metrics, yet it will reduce reported profit.

Combined earnings effect The aggregate US$82.00 million hit—US$52.00 million in tax and US$30.00 million in receivables provision—will diminish profit attributable to equity holders for the three-month period. The figures are preliminary and unaudited; final amounts may differ.

Bud APAC affirmed that it will pursue all available measures to recover the outstanding receivables in Telangana and continue efforts to optimise capital efficiency following the mainland China restructuring.