Document:

Exhibit 10.2

 

IP LICENSE AGREEMENT

 

THIS IP LICENSE AGREEMENT is entered into
as of the 25th day of January, 2016, by and between CANNABICS PHARMACEUTICALS INC., a Nevada Corporation in good standing, (''Licensor"),
with its principal place of business located at #3 Bethesda Metro Center, Suite 700, Bethesda, Maryland, and MOUNTAIN HIGH PRODUCTS,
LLC, a Colorado Limited Liability Company ("Licensee"), with its principal place of business located at 7161 Valtec
Ct., Suite D-2, Boulder, Colorado 80301;

 

IN CONSIDERATION OF the mutual promises
and covenants contained in this Agreement, the parties agree as follows:

 

1. Grant of License. Licensor hereby
grants to Licensee, subject to the terms and conditions of this Agreement, an exclusive, limited license (the ''License")
to utilize the "Cannabics Technology'' (as defined in Exhibit A) to manufacture, market and sell extended release
cannabis capsules (the "Product"). Licensee shall have the right to enter into agreements with third parties to sub-license
the License, as set forth below, pursuant to Licensor' s approval.

 

2. Acceptance of License. Licensee
hereby accepts the License and will operate under the License only in accordance with the terms and conditions set forth in this
Agreement.

 

3. Term of License. The initial term
of the License shall be ten years, beginning on the date of this Agreement, as set forth above. The term shall automatically renew
for successive ten year terms unless there is cause for termination.

 

4. Territory. Licensee shall have
the right to utilize the License and to sublicense it in Colorado (the "Territory'').

 

5. Agency. Under this Agreement (i)
each Party will be deemed to be an independent contractor and not an agent, joint venturer, or representative of the other Party;
(ii) neither Party may create any obligations or responsibilities on behalf of or in the name of the other Party; and (iii) neither
Party will hold itself out to be a partner, employee, franchisee, representative, servant, or agent of the other Party.

 

6. Sub-Licensing. Licensee shall
have the right to sub-license the License to qualified third parties who have obtained state and local approval and licenses to
manufacture, market and sell marijuana products in Colorado upon such terms as Licensee deems appropriate and acceptable, pursuant
to Licensor's approval.

 

7. Licensor's Obligations. At Licensor's
expense, Licensor shall provide to Licensee:

 

a. All information necessary or reasonably
helpful regarding the Cannabics Technology;

 

 

 

    	 	1	 

     

    

 

b. Reasonable levels of support and assistance
as are necessary or helpful in setting up and operating the equipment necessary to utilize the Cannabis's Technology, including
training of Licensee's employees in the utilization of the Cannabics Technology; and

 

8. Licensee's Obligations. At Licensee's
expense Licensee shall, either directly or through sublicense agreements with third parties:

 

a. Provide the cost of all equipment necessary
or reasonably helpful in the utilization of the Cannabics Technology to manufacture the Product in the Territory;

 

b. Provide all of the marijuana or its derivatives
necessary for Licensee to utilize the Cannabics Technology to manufacture the Product;

 

c. Provide adequate personnel to manufacture
the Product;

 

d. Provide licensed facilities that are
in compliance with the state and local laws in which to manufacture the Product;

 

e. Provide utilities, insurance and all
other operating requirements to manufacture the Product;

 

f. Conduct all sales and distribution of
the Product, and collect all monies owed in connection with such sales and distribution;

 

g. Provide to Licensor regular reports regarding
manufacture and sale of the Product; and

 

h. Timely pay to Licensor the license fees
due it.

 

9. Calculated Sales. No later than
the tenth day of each month, Licensee shall submit to Licensor an accurate report regarding sales for the previous calendar month
in the form reasonably required by Licensor.

 

10. License Fee. Licensee shall pay
unto Licensor a fee (the "License Fee") on a quarterly basis as full consideration for the grant of the License set
forth is this Agreement. The License Fee shall be reevaluated quarterly.

 

11. Ownership of Licensed Rights.

 

a. Licensee acknowledges Licensor's exclusive
right, title and interest in and to the Cannabics Technology, all goodwill associated therewith and all rights relating thereto,
and will not at any time knowingly do or cause to be done any act or thing contesting or in any way impairing or tending to impair
any part of Licensor's rights in and to the Cannabics Technology.

 

 

 

 

    	 	2	 

     

    

 

Licensee will not at any time develop, without Licensor's prior
written consent, any technology that is similar to or directly competitive with, the Cannabics Technology.

 

b. Licensor may, but will not be required
to, take whatever action it, in its reasonable discretion, deems necessary to protect the validity and strength of the Cannabics
Technology. Such action may include, without limitation, (i) assuming responsibility for the defense of any lawsuit challenging
or affecting rights to the Cannabics Technology, or (ii) instituting litigation to protect its rights to the Cannabics Technology.
Any such action taken by Licensor or which directly benefits Licensor with respect to the protection or defense of the Cannabics
Technology will be borne by Licensor. Should Licensor choose to take any action with respect to the Cannabics Technology, Licensee
agrees to cooperate fully with Licensor and comply with all reasonable requests for assistance in connection therewith.

 

12. Confidentiality. All information
given by either party to the other that is either marked as "confidential" or that is not generally known to the public,
including the Cannabics Technology shall be held in strict confidence by the other party. Except as required for performance of
this Agreement, neither party shall directly or indirectly use, disseminate, disclose to any person or organization, or publish
any of the confidential information of the other party, which is and shall remain the property of the disclosing party. Upon termination
of this Agreement, all books, records, documents, and other repositories of or containing confidential information, including
electronic meqia or devices and copies of such information, then in the possession of the other party, regardless of who prepared
it or how it was obtained, will be, upon request, returned to the disclosing party. The parties further agree to delete any and
all electronic copies of any of the other party's confidential information in its possession or controL The parties will take
all reasonable and necessary measures to prevent disclosure of the confidential information to any and all third parties not authorized
to have access to it.

 

13. Non-Competition. Licensee further
agrees not to compete with Licensor by utilizing the Cannabics Technology to develop processes that compete with the Cannabics
Technology without Licensor's express written consent, which consent may be withheld in Licensor's sole and absolute discretion.
In the same manner, Licensor agrees to not develop similar technology which could be used in a competitive manner and to then
license said technology to another entity that would then compete with the Licensee. If such technology is developed, the Licensee
will have a first right of refusal to also license that technology.

 

14. Enforcement. In the event that
any provision of Sections 12 or 13 is found to be illegal or unenforceable, such provision shall be severed or modified only to
the extent necessary to make it enforceable, and as so severed or modified, the remainder of those sections shall remain in full
force and effect.

 

The parties acknowledge that the provisions
of Sections 12 and 13 are essential for the protection of the respective parties, and that any breach or threatened breach of
either of those sections would cause immediate and irreparable damage, for which monetary relief would be inadequate or impossible
to ascertain. Accordingly, the parties agree that upon the existence of any breach or threatened breach of either Section 11 or
12, the non-breaching party may, without limitation of any other rights it may have, including the recovery of damages, costs,
and attorney's fees, obtain a temporary restraining order, preliminary injunction, order for specific performance, or other appropriate
form of equitable relief.

 

 

 

 

    	 	3	 

     

    

 

15. Right to Inspect. Licensee shall
keep all relevant records pertaining to use of the Cannabics Technology, calculation as to sales and payment of the license fee
to Licensor for at least three years after the period to which such records relate, including any records which would normally
be examined by an independent accountant pursuant to generally accepted accounting principles. All records shall be open to inspection
and audit of Licensor and its agents at reasonable times upon reasonable advance notice to Licensee. If any such inspection or
audit discloses a liability for payment of monthly license fee of 2% or more in excess of the license fee paid by Licensee for
the applicable period, or if Licensee fails to timely deliver a required statement, Licensee shall pay Licensor's costs of examination
in addition to the deficiency and interest.

 

16. Indemnification. Licensee shall
indemnify Licensor from any legal claim, action, liability, loss, damage or suit arising from claim of merchantability, quality,
personal injury or any other matter resulting from Licensee's product, other than those arising or resulting from Licensor's negligent
or fraudulent actions or inactions.

 

17. Notice. All notices, requests,
demands, claims and other communications hereunder will be in writing. Any notice, request, demand, claim or other communication
hereunder will be deemed duly given if (and then seven days after) it is sent by certified mail, return receipt requested, postage
prepaid and addressed to Licensor or to Licensee at the address set forth below, or such other address of which a party gives
notice to the other party; or by acknowledgement of on the part of the receiving party of any form on communication including
but not limited to e-mail; fax or other electronic communication.

 

If to Licensor:

Cananbics Pharmaceuticals Inc.

#3 Bethesda Metro Center

Suite 700

Bethesda, Maryland 20814

(877) 424-2229

Itamar@Cannabics.com

David@Cannabics.com

 

If to Licensee:

Mountain High Products, LLC

7161 Valtec Ct., Suite D-2 Boulder, Colorado
80301

(303) 807-4389

Nancy@WanaBrands.com

 

 

 

 

 

    	 	4	 

     

    

 

18. Choice of Law; Dispute Resolution.
This Agreement shall be governed by Colorado law. Venue shall be proper only in Colorado. In the event of any controversy between
the Parties arising out of, or relating to, this Agreement, which cannot be settled amicably by the parties, such controversy
shall be settled by Arbitration. The Parties shall use their best efforts to agree upon a competent jurist as expeditiously as
possible. Either party may institute such arbitration proceeding by giving written notice to the other party. A hearing shall
be held by the Arbitrator within the state of Colorado, and a decision of the matter submitted to the Arbitrator shall be binding
and enforceable against the Parties in any Court of competent jurisdiction. The prevailing party shall be entitled to all costs
and expenses with respect to such arbitration, including reasonable attorneys' fees. Each party hereto irrevocably waives any
objection to the laying of venue of any such Arbitration action or proceeding brought and irrevocably waives any claim that any
such action brought has been brought in an inconvenient forum. Each of the Parties waives any right to request a trial by jury
in any litigation with respect to this Agreement and represents that counsel has been consulted specifically as to this waiver.

 

EXECUTED as of the date set forth above.

 

	Licensor:	 	Licensee:
	 	 	 
	Cannabics Pharmaceutical Inc.	 	Mountain High Products, LLC
	 	 	 
	 	 	 
	By: /s/ Itamar Borochov                	 	By: /s/ Nancy Whiteman                  
	Itamar Borochov, CEO	 	Nancy Whiteman, Director
	 	 	 

 

 

 

 

 

 

 

 

    	 	5	 

     

    

 

 

 

EXHIBIT A

 

"Cannabics Technology" means (i) all patent
rights and applications controlled by Licensor that relate to the claim or cover the use or administration of the Formula. and
(ii) all Know-How owned by Licensor that is necessary or useful to the development or commercialization of the Formula.

 

"Formula" means any process of combining excipients
with cannabis or a preparation of excipients intended to be combined with cannabis in a slow release capsule or pill in humans
and animals for medical or recreational use.

 

"Know-How" means Licensors' proprietary information
fixed in any tangible medium of expression prior to or on the date of execution of this Agreement and which is related to the
use of: or desirable for the practice of: the Formula.

 

 

 

 

 

 

 

 

 

 

    	 	6EX-4.1

 Exhibit 4.1 
  

 
  

ANHEUSER-BUSCH INBEV FINANCE INC. 

and 
 ANHEUSER-BUSCH INBEV SA/NV

 and 
 the SUBSIDIARY
GUARANTORS party hereto from time to time 
 and 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 

Trustee 
 and 

THE BANK OF NEW YORK MELLON, LONDON BRANCH 

Paying Agent 
  

 
 EIGHTH SUPPLEMENTAL INDENTURE 

Dated as of January 29, 2016 
  

 
 To the Indenture, dated as of
January 25, 2016, 
 among Anheuser-Busch InBev Finance Inc., 

Anheuser-Busch InBev SA/NV, the Subsidiary Guarantors party thereto from time to 

time and 
 The Bank of New York
Mellon Trust Company, N.A., Trustee 
 4.915% Notes due 2046 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
	
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL

APPLICATION
	   

  

			
	 SECTION 1.01
	    	Definitions	  	 	3	  
	 SECTION 1.02
	    	Effect of Headings	  	 	4	  
	 SECTION 1.03
	    	Separability Clause	  	 	4	  
	 SECTION 1.04
	    	Benefits of Instrument	  	 	4	  
	
	ARTICLE II	  
	
	4.915% Senior Notes due 2046	  
			
	 SECTION 2.01
	    	Creation of Series; Establishment of Form	  	 	5	  
	 SECTION 2.02
	    	Guarantee	  	 	6	  
	 SECTION 2.03
	    	Interest	  	 	6	  
	 SECTION 2.04
	    	Payment of Principal, Interest and Other Amounts	  	 	6	  
	 SECTION 2.05
	    	Optional Redemption.	  	 	8	  
	 SECTION 2.06
	    	Optional Tax Redemption	  	 	9	  
	
	ARTICLE III	  
	
	Miscellaneous Provisions	  
			
	 SECTION 3.01
	    	Effectiveness	  	 	10	  
	 SECTION 3.02
	    	Original Issue	  	 	10	  
	 SECTION 3.03
	    	Ratification and Integral Part	  	 	10	  
	 SECTION 3.04
	    	Priority	  	 	10	  
	 SECTION 3.05
	    	Successors and Assigns	  	 	10	  
	 SECTION 3.06
	    	Counterparts	  	 	10	  
	 SECTION 3.07
	    	Guarantee Limitations	  	 	10	  
	 SECTION 3.08
	    	The Trustee	  	 	10	  
	 SECTION 3.09
	    	Governing Law	  	 	11	  
			
	 EXHIBIT A
	    		  	 	A-1	  
	 EXHIBIT B
	    		  	 	B-1	  

  
 - i - 

 EIGHTH SUPPLEMENTAL INDENTURE, dated as of January 29, 2016 (the “Eighth
Supplemental Indenture”), among ANHEUSER-BUSCH INBEV FINANCE INC., a corporation duly organized and existing under the laws of the State of Delaware (the “Company”), ANHEUSER-BUSCH INBEV SA/NV, a société
anonyme duly organized and existing under the laws of the Kingdom of Belgium (the “Parent Guarantor”), ANHEUSER-BUSCH INBEV WORLDWIDE INC., a corporation duly organized and existing under the laws of the State of Delaware,
BRANDBEV S.À R.L., a société à responsabilité limitée incorporated under the laws of Luxembourg, with its registered office at Zone Industrielle Breedewues No. 15, L-1259 Senningerberg,
Grand-Duchy of Luxemburg, registered with the Luxembourg Register of Commerce and Companies under the number B 80.984 and having a share capital of USD 43,150,720, BRANDBREW S.A., a société anonyme incorporated under the laws of
Luxembourg, with its registered address at Zone Industrielle Breedewues No. 15, L-1259 Senningerberg, Grand-Duchy of Luxemburg and registered with the Luxembourg register of commerce and companies under number B-75696, COBREW NV, a public
limited liability company organized and existing under Belgian law, ANHEUSER-BUSCH COMPANIES, LLC, a limited liability company duly organized and existing under the laws of the State of Delaware, (each, a “Subsidiary Guarantor”, and
together with the Parent Guarantor, the “Guarantors”), The Bank of New York Mellon Trust Company, N.A., as trustee, registrar and transfer agent (the “Trustee”) and The Bank of New York Mellon, London Branch, as
paying agent (the “Paying Agent”) to the Indenture, dated as of January 25, 2016, among the Company, the Guarantors and the Trustee (the “Indenture”). 

RECITALS OF THE COMPANY AND THE GUARANTORS 

WHEREAS, the Company, the Guarantors and the Trustee are parties to the Indenture, which provides for the issuance from time to time of
unsecured debt securities of the Company; 
 WHEREAS, Section 901(9) of the Indenture permits supplements thereto without the consent
of Holders of Securities to establish the form or terms of Securities of any series as permitted by Sections 201 and 301 of the Indenture; 

WHEREAS, as contemplated by Section 301 of the Indenture, the Company intends to issue a new series of Securities to be known as the
Company’s “4.915% Notes due 2046” (the “Notes”) under the Indenture; 
 WHEREAS, the Company and the
Guarantors have taken all necessary corporate action to authorize the execution and delivery of this Eighth Supplemental Indenture; 
 NOW,
THEREFORE, THIS EIGHTH SUPPLEMENTAL INDENTURE WITNESSETH: 

  
 - 1 - 

 For and in consideration of the premises and the other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Company, the Guarantors, the Trustee and the Paying Agent (solely with respect to matters relating to its paying agency) mutually agree as follows: 

  
 - 2 - 

 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

SECTION 1.01       Definitions. 

Except as otherwise expressly provided or unless the context otherwise requires, all terms used in this Eighth Supplemental Indenture which
are defined in the Indenture shall have the meanings ascribed to them by the Indenture. The following terms used in this Eighth Supplemental Indenture have the following respective meanings: 

“Business Day” means a day on which commercial banks and exchange markets are open, or not authorized to
close, in the City of New York, London, Brussels and Taipei. If the date of maturity of interest on or principal of the Notes or the date fixed for redemption or payment in connection with an acceleration of any Note is not a Business Day, then
payment of interest or principal need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption or payment in connection with
acceleration, and no interest shall accrue as a result of the delayed payment. 
 “Change in Tax Law” has
the meaning set forth in Section 2.06(a). 
 “Clearstream” means Clearstream Banking,
société anonyme, Luxembourg (or any successor securities clearing agency). 
 “Common
Depositary” means, with respect to Notes issuable or issued in whole or in part in the form of one or more Global Securities, The Bank of New York Mellon, London Branch, which is the common depositary for Euroclear and Clearstream, or such
successor as the Company shall designate from time to time in an Officer’s Certificate delivered to the Trustee. 

“Company” has the meaning set forth in the first paragraph of this Eighth Supplemental Indenture. 

“Date of the Prospectus Supplement” means January 20, 2016, which is the date of the final Prospectus
Supplement prepared in connection with the issuance of the Notes and filed with the Securities and Exchange Commission. 

“Eighth Supplemental Indenture” has the meaning set forth in the Recitals. 

“Euroclear” means Euroclear Bank S.A./N.V. (or any successor securities clearing agency), as operator of the
Euroclear system. 

  
 - 3 - 

 “Global Security” has the meaning set forth in
Section 2.01(d). 
 “Guarantors” has the meaning set forth in the first paragraph of this Eighth
Supplemental Indenture. 
 “Indenture” has the meaning set forth in the first paragraph of this Eighth
Supplemental Indenture. 
 “Interest Payment Date” has the meaning specified in Section 2.03. 

“Notes” has the meaning set forth in the Recitals. 

“Parent Guarantor” has the meaning set forth in the first paragraph of this Eighth Supplemental Indenture.

 “Regular Record Date” means the January 15 and July 15 immediately preceding the applicable
Interest Payment Date (whether or not a Business Day); provided, however, that if the Notes are represented by one or more Global Securities, the Regular Record Date shall be the close of business on the business day (for this purpose a day
on which Clearstream and Euroclear are open for business) immediately preceding the related Interest Payment Date. 

“Stated Maturity” has the meaning specified in Section 2.01(f). 

“Trustee” has the meaning set forth in the first paragraph of this Eighth Supplemental Indenture. 

SECTION 1.02       Effect of Headings. 

The Article and Section headings herein are for convenience only and shall not affect the construction hereof. 

SECTION 1.03       Separability Clause. 

In case any provision in this Eighth Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 1.04
      Benefits of Instrument. 
 Nothing in this Eighth Supplemental Indenture, express or implied,
shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Eighth Supplemental Indenture or the Indenture. 

  
 - 4 - 

 ARTICLE II 

4.915% Senior Notes due 2046 

SECTION 2.01       Creation of Series; Establishment of Form. 

(a)     There is hereby established a new series of Securities under the Indenture entitled “4.915% Notes due
2046”. 
 (b)     The form of the Notes, including the form of the certificate of authentication, is attached
hereto as Exhibit A. 
 (c)     The Company shall issue the Notes in an aggregate principal amount of USD
1,470,000,000. Subject to the receipt of all necessary regulatory and listing approvals from applicable authorities in the Republic of China, including, but not limited to, the Taipei Exchange and the Taiwan Securities Association, the Company may
from time to time, without the consent of the Holders of the Notes, issue additional Notes in accordance with Sections 301 and 901 of the Indenture. Any such additional Notes subsequently issued shall rank equally and ratably with the Notes in
all respects (except for the payment of interest accruing prior to the issue date of such further Notes or except for the first payment of interest following the issue date of such further Notes), so that such further Notes shall be consolidated and
form a single series with the Notes and shall have the same terms as to status, redemption or otherwise as the Notes, provided that either (i) such additional Notes are fungible with the Notes of such series offered hereby for U.S. federal
income tax purposes or (ii) such additional Notes shall have a separate ISIN number. 
 (d)     The Notes
shall be issued initially in the form of one or more permanent global securities, without coupons, registered in the name of the Common Depositary or a nominee of the Common Depositary (each, a “Global Security”) and deposited with
the Common Depositary. Any proposed transfer of an interest in the Notes shall consist of a transfer within a Global Security and shall be effected through the book-entry system maintained by, and in accordance with the applicable procedures of,
Euroclear and Clearstream.  
 (e)     The Notes shall not have a sinking fund. 

(f)     The stated maturity of the principal of the Notes shall be January 29, 2046 (the “Stated
Maturity”). 
 (g)     The outstanding principal amount of the Notes shall accrue interest at a rate
equal to 4.915% per annum, as provided in Section 2.03. 
 (h)     The Notes shall be issued in denominations
of USD 200,000 in principal amount and integral multiples of USD 1,000 in excess thereof. 

  
 - 5 - 

 (i)     The Notes shall be subject to both Defeasance and Covenant
Defeasance in accordance with the Indenture. 
 (j)     The Notes shall be senior unsecured obligations of the Company
and will rank equally with all other existing and future unsecured and unsubordinated debt obligations of the Company. 
 SECTION 2.02
      Guarantee. Subject to the terms and applicable limitations set forth in the Indenture and the form of Notes, the Notes shall be jointly and severally, irrevocably, fully and unconditionally guaranteed by
the Guarantors as to all payments due on the Notes whether at their Stated Maturity, by acceleration, redemption, repayment or otherwise in accordance with the terms of such Guarantees and the Indenture. In the case of the failure of the Company to
pay punctually any principal, premium or interest on the Notes, the Guarantors shall cause any such payment to be made as it becomes due and payable, whether at maturity, upon acceleration, redemption, repayment or otherwise. The Guarantees shall be
unsecured and unsubordinated indebtedness of the Guarantors and rank equally with other unsecured and unsubordinated indebtedness of the Guarantors that is currently outstanding or that they may issue in the future. 

SECTION 2.03       Interest. The Notes shall bear interest at a rate equal to 4.915% per annum, and
computed on the basis of a 360-day year consisting of twelve (12) 30-day months. Interest on the Notes will accrue from January 29, 2016 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as
the case may be. Interest is payable semi-annually, in arrears, on January 29 and July 29 of each year (each, an “Interest Payment Date”), subject to deferral of such payment in accordance with the definition of
“Business Day” contained in Section 1.01 hereof, commencing July 29, 2016 to the Person in whose name the Notes were registered at the close of business on the applicable Regular Record Date until the principal thereof is paid or
made available for payment. 
 SECTION 2.04       Payment of Principal, Interest and Other Amounts.

 (a)     Payments of principal of, premium, if any, and interest on the Notes shall be made in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts and such payments on Notes represented by a Global Security shall be made through one or more Paying Agents appointed under the
Indenture to the Common Depositary or its nominee, as the Holder of the Global Security. Initially, the Paying Agent for the Notes will be The Bank of New York Mellon, London Branch at its corporate trust office located at One Canada Square, London
E14 5AL, United Kingdom and the Registrar for the Notes will be The Bank of New York Mellon Trust Company, N.A., in St. Louis, Missouri. The Company may change the Paying Agent or Registrar without prior notice to the Holders of the Notes, and in
such an event the Company may act as Paying Agent or 

  
 - 6 - 

 
Registrar. Payments of principal of, premium, if any, and interest on the Notes represented by a Global Security shall be made by wire transfer of immediately available funds to the Holder
thereof; provided, however, that in the case of payments of principal and premium, if any, such Global Security is first surrendered to the Paying Agent. 

(b)     In order to provide for all payments due on the Notes as the same shall become due, the Company shall cause to be
paid to the Paying Agent, no later than 10:00 a.m. London time one Business Day prior to the due date for the payment of each Note, at such bank as the Paying Agent shall previously have notified to the Company, immediately available funds
sufficient to meet all payments due on such Notes. If for any reason the amounts received by the Paying Agent are insufficient to satisfy all claims in respect of all payments then due on the Notes, the Paying Agent shall forthwith notify the
Company, and the Paying Agent shall not be obliged to pay any such claims until the Paying Agent has received the full amount of the monies then due and payable in respect of such Notes. If, however, the Paying Agent in its sole discretion shall
make payment on the Notes on their maturity or redemption, or payments of interest or such other payments when otherwise due (it being understood that the Paying Agent shall have no obligation whatsoever to make any such payment) and the amount
which should have been received is not received on such date, the Company agrees forthwith on demand to pay, or procure the payment of, to the Paying Agent, in addition to the amount which should have been paid hereunder, interest thereon from the
day following the date when the amount unpaid should have been received under this Supplemental Indenture to the date when such amount is actually received (inclusive) at a rate equal to the cost of the Paying Agent of funding such amount, as
certified by the Paying Agent and expressed as a rate per annum. 
 (c)     The Paying Agent hereby agrees that: 

(i)     it will hold all sums held by it as Paying Agent for the payment of the principal of or interest on the Notes in
trust for the benefit of the Holders of the Notes entitled thereto, or for the benefit of the Trustee, as the case may be, until such sums shall be paid out to such Holders as provided in the Indenture; 

(ii)     it will promptly give the Trustee notice of: (x) a Company deposit for the payment of principal of or
interest on the Notes, (y) any failure by the Company in the making of any deposit for the payment of principal of or interest on the Notes that shall have become payable, and (z) any default by the Company in making any payment of the
principal of or interest on the Notes where the same shall be due and payable as provided in the Notes; and 
 (iii)
    At any time after an Event of Default in respect of the Notes shall have occurred, the Paying Agent shall, if so required by notice in writing given by the Trustee to the Paying Agent: (y) thereafter, until otherwise
instructed by the Trustee, act as agent of the Trustee under the terms of the Indenture; and/or (z) deliver all Notes and all sums, documents and records held by the Paying Agent in respect of the Notes to the Trustee or as the Trustee shall
direct in such notice; provided that such notice shall be deemed not to apply to any document or record which the Paying Agent is obliged not to release by any applicable law or regulation. 

  
 - 7 - 

 (d)     In acting under this Supplemental Indenture, the Paying Agent shall
not (a) be under any fiduciary duty towards any Person, (b) be responsible for or liable in respect of the authorization, validity or legality of any Note amount paid by it hereunder (except to the extent that any such liability is
determined by a court of competent jurisdiction to have been resulted from the Paying Agent’s negligence, wilful misconduct or bad faith), (c) be under any obligation towards any Person other than the Trustee and the Company or
(d) assume any relationship of agency or trust for or with any Holder. 
 (e)     The Paying Agent shall have the
benefit of Section 603(10) of the Indenture. 
 (f)     The Company will pay to the Paying Agent the compensation,
fees and expenses in respect of the Paying Agent’s services as separately agreed with the Paying Agent. 
 (g)
    The Company will also pay all reasonable documented out-of-pocket expenses (including legal expenses) incurred by the Paying Agent in connection with its services hereunder, together with any applicable value added tax and
stamp, issue, or other documentary taxes and duties. 
 (h)     For purposes of Section 105 of the Indenture,
notices to the Paying Agent shall be given to the following address: 
 The Bank of New York Mellon, London Branch 

One Canada Square, London E14 5AL 

Attention: Corporate Trust Administration 

SECTION 2.05       Optional Redemption. 

(a)     The Company may, at its option, redeem the Notes in whole, but not in part, on each March 1 on or after
March 1, 2021 upon not less than thirty (30) nor more than sixty (60) days’ prior notice, as provided in Section 1104 of the Indenture. Notice of redemption shall be given by
first-class mail, postage prepaid, mailed (or otherwise transmitted in accordance with applicable procedures of Euroclear or Clearstream) to the Holders of the Notes being redeemed. The redemption price will
be equal to 100% of the aggregate principal amount of the Notes to be redeemed plus accrued and unpaid interest on the principal amount being redeemed to (but excluding) such Redemption Date. 

  
 - 8 - 

 (b)     Unless the Company (and/or a Guarantor) defaults on payment of the
redemption price, from and after the Redemption Date interest will cease to accrue on the Notes called for redemption. By 10:00 A.M. (London time) on the Business Day prior to the Redemption Date, the Company will deposit with the Trustee or with
one or more Paying Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in the Indenture) money sufficient to pay the redemption price of and accrued interest on the Notes to be redeemed on
such date. 
 SECTION 2.06       Optional Tax Redemption. 

(a)     The Company may, at the Company’s or the Parent Guarantor’s option, redeem the Notes in whole, but not
in part, upon not less than thirty (30) nor more than sixty (60) days’ prior notice, at a redemption price equal to 100% of the principal amount of the Notes then outstanding plus accrued and unpaid interest on the principal amount
being redeemed (and all Additional Amounts, if any) to (but excluding) the Redemption Date, if (i) as a result of any change in, or amendment to, the laws, treaties, regulations or rulings of a jurisdiction in which the Company or any Guarantor
is incorporated, organized, or otherwise tax resident or any political subdivision or any authority thereof or therein having power to tax, or in the interpretation, application or administration of any such laws, treaties, regulations or rulings
(including a holding, judgment or order by a court of competent jurisdiction) which becomes effective on or after the Date of the Prospectus Supplement (any such change or amendment, a “Change in Tax Law”), the Company or, if a
payment were then due under a Guarantee, the relevant Guarantor, would be required to pay Additional Amounts and (ii) such obligation cannot be avoided by the Company or the relevant Guarantor taking reasonable measures available to it;
provided, however, that the Notes may not be redeemed to the extent such Additional Amounts arise solely as a result of the Company assigning its obligations under the Notes to a Substitute Company (as defined in Section 801 of the
Indenture), unless such assignment to a Substitute Company is undertaken as part of a plan of merger by the Parent Guarantor. 
 (b)
    Prior to the mailing of any notice of redemption pursuant to this Section 2.06, the Company or the relevant Guarantor will deliver to the Trustee an opinion of independent tax counsel of recognized standing to the effect
that the Company or the relevant Guarantor is or would be obligated to pay such Additional Amounts as a result of such Change in Tax Law. 

(c)     No notice of redemption pursuant to this Section 2.06 may be given earlier than ninety (90) days prior
to the earliest date on which the Company or the relevant Guarantor would be obligated to pay Additional Amounts if a payment in respect of the Notes were then due. 

  
 - 9 - 

 ARTICLE III 

Miscellaneous Provisions 

SECTION 3.01       Effectiveness. This Eighth Supplemental Indenture will become effective upon its
execution and delivery. 
 SECTION 3.02       Original Issue. The Notes may, upon execution of this
Eighth Supplemental Indenture, be executed by the Company and delivered by the Company and the Parent Guarantor to the Trustee for authentication, and the Trustee shall, upon Company order, authenticate and deliver such Notes as in such Company
order provided. 
 SECTION 3.03       Ratification and Integral Part. The Indenture as supplemented by
this Eighth Supplemental Indenture, is in all respects ratified and confirmed, and this Eighth Supplemental Indenture will be deemed an integral part of the Indenture in the manner and to the extent herein and therein provided. 

SECTION 3.04       Priority. This Eighth Supplemental Indenture shall be deemed part of the Indenture in
the manner and to the extent herein and therein provided. The provisions of this Eighth Supplemental Indenture shall, subject to the terms hereof, supersede the provisions of the Indenture to the extent the Indenture is inconsistent herewith. 

SECTION 3.05       Successors and Assigns. All covenants and agreements in the Indenture, as
supplemented and amended by this Eighth Supplemental Indenture, by the Company and the Guarantors will bind their respective successors and assigns, whether so expressed or not. 

SECTION 3.06       Counterparts . This Eighth Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

SECTION 3.07       Guarantee Limitations. The limitations applicable to the Guarantees, as set forth in
Section 209 of the Indenture, will apply to the Guarantees issued hereunder; provided, however, that any further limitations, or any amendments or modifications to such Guarantees or limitations thereon, shall be set forth in an
additional supplemental indenture, in each case in accordance with the Indenture. 
 SECTION 3.08
      The Trustee and the Paying Agent. Neither the Trustee nor the Paying Agent shall be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Eighth Supplemental
Indenture or for or in respect of the recitals contained herein, all of which are made solely by the Company and the Guarantors. 

  
 - 10 - 

 SECTION 3.09       Governing Law. This Eighth Supplemental
Indenture and the Notes and Guarantees will be governed by and construed in accordance with the laws of the State of New York. 

  
 - 11 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Eighth Supplemental Indenture to be duly
executed, all as of the day and year first above written. 
  

			
	 ANHEUSER-BUSCH INBEV FINANCE
INC.
 as Company

		
	 By:
	 	 /s/ Matthew Amer

		 	 Name: Matthew Amer

		 	 Title:   Authorized Officer

	
	 ANHEUSER-BUSCH INBEV SA/NV

 
 as Parent Guarantor

		
	 By:
	 	 /s/ Benoit Loore

		 	 Name: Benoit Loore

		 	 Title:   Authorized Officer

		
	 By:
	 	 /s/ Jan Vandermeersch

		 	 Name: Jan Vandermeersch

		 	 Title:   Authorized Officer

	
	 THE BANK OF NEW YORK
MELLON, TRUST COMPANY, N.A.,
 as Trustee

		
	 By:
	 	 /s/ R. Tarnas

		 	 Name: R. Tarnas

		 	 Title:   Vice President

	
	 THE BANK OF NEW YORK MELLON,
LONDON BRANCH,
 as Paying Agent

		
	 By:
	 	 /s/ Marco Thuo

		 	 Name: Marco Thuo

		 	 Title:   Vice President

  

[Eighth Supplemental Indenture Signature Page] 

 
			
	 ANHEUSER-BUSCH INBEV WORLDWIDE INC.

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Matthew Amer

		 	 Name: Matthew Amer

		 	 Title:   Authorized Officer

	
	 ANHEUSER-BUSCH COMPANIES, LLC

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Matthew Amer

		 	 Name: Matthew Amer

		 	 Title:   Authorized Officer

	
	 COBREW NV

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Benoit Loore

		 	 Name: Benoit Loore

		 	 Title:   Authorized Officer

		
	 By:
	 	 /s/ Jan Vandermeersch

		 	 Name: Jan Vandermeersch

		 	 Title:   Authorized Officer

	
	 BRANDBREW S.A.

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Benoit Loore

		 	 Name: Benoit Loore

		 	 Title:   Authorized Officer

	
	 BRANDBEV S.À R.L.

as Subsidiary Guarantor

		
	 By:
	 	 /s/ Benoit Loore

		 	 Name: Benoit Loore

		 	 Title:   Authorized Officer

  

[Eighth Supplemental Indenture Signature Page] 

 Exhibit A 

FORM OF NOTES 
 FACE OF
SECURITY 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH
DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY TO ANHEUSER-BUSCH INBEV FINANCE INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE COMMON DEPOSITARY
OR ITS NOMINEE OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY (AND ANY PAYMENT IS MADE TO THE COMMON DEPOSITARY OR ITS NOMINEE OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
THE COMMON DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED HAS AN INTEREST HEREIN. 

  
 A-1 

 Exhibit A 
  

 Anheuser-Busch InBev Finance Inc. 

4.915% Note due 2046 
 Payment of
Principal, Premium, if any, 
 and Interest Irrevocably, Fully and Unconditionally Guaranteed by 

Anheuser-Busch InBev SA/NV, Anheuser-Busch InBev Worldwide Inc., Brandbev 

S.à r.l., Brandbrew S.A., Cobrew NV and 

Anheuser-Busch Companies, LLC 
  

			
	 No.
	  	USD                                
		
	 Common Code: 135180335
	  	ISIN: XS1351803355                

 Anheuser-Busch InBev Finance Inc., a corporation duly organized and existing under the
laws of the State of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to The Bank of New York Depository
(Nominees) Limited, as nominee of The Bank of New York Mellon, London Branch as common depositary for Euroclear Bank, S.A./N.V. (“Euroclear”), and Clearstream Banking, société anonyme
(“Clearstream”), or its registered assigns, on January 29, 2046 (the “Maturity Date”), the principal sum
of                     U.S. dollars, and to pay interest thereon from January 29, 2016 or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, semi-annually, in arrears, on January 29 and July 29, in each year, commencing on July 29, 2016, at the rate of 4.915% per annum, until the principal hereof is paid or made available
for payment, subject to deferral of such interest payment in accordance with the Indenture in case such date is not a Business Day. 

The interest so payable, and punctually paid or duly provided for on any Interest Payment Date will, as provided in the
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January 15 and July 15 (whether or
not a Business Day), as the case may be, immediately preceding such Interest Payment Date; provided, however, that if this Security is represented by one or more Global Securities, the Regular Record Date shall be the close of business on the
business day (for this purpose a day on which Clearstream and Euroclear are open for business) immediately preceding the related Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable
to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than ten (10) days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

  
 A-2 

 Exhibit A 
  

 Subject to the terms of the Indenture, this Security is fully and
unconditionally guaranteed as to all payments due hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise in accordance with the terms of the Guarantees and the Indenture. 

Payments of principal of, premium, if any, and interest on the Notes shall be made in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts and such payments on Notes represented by a Global Security shall be made through one or more Paying Agents appointed under the Indenture to the
Common Depositary or its nominee, as the Holder of this Security. Initially, the Paying Agent for the Securities will be The Bank of New York Mellon, London Branch at its corporate trust office located at One Canada Square, London E14 5AL, United
Kingdom and the Registrar for the Securities will be The Bank of New York Mellon Trust Company, N.A., St. Louis, Missouri. The Company may change the Paying Agent or Registrar without prior notice to the Holders, and in such an event the Company may
act as Paying Agent or Registrar. Payments of principal, premium, if any, and interest on the Securities represented by this Security shall be made by wire transfer of immediately available funds; provided, however, that in the case of
payments of principal and premium, if any, such Global Security is first surrendered to the Paying Agent. 
 Notwithstanding
any provision of this Security or the Indenture, the Company may make any and all payments of principal, premium (if any) and interest on this Security pursuant to the applicable procedures of the Common Depositary for this Security as permitted in
the Indenture. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3 

 Exhibit A 
  

 IN WITNESS WHEREOF, the Company
has caused this instrument to be duly executed. 
 Dated: 
  

			
	ANHEUSER-BUSCH INBEV FINANCE INC.
		
	 By:
	 	  

		 	 Name:

		 	 Title: Authorized Officer

  

	
	 Attest:

	  

  
  

CERTIFICATE OF AUTHENTICATION 

This Security is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

 

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

  
 A-4 

 Exhibit A 
  

 REVERSE OF SECURITY 

1.   Securities and Indenture 

This Security is one of a duly authorized issue of securities of the Company (payable in U.S. dollars) (herein called the
“Securities”), issued and to be issued in one or more series under an Indenture, dated as of January 25, 2016 (the “Base Indenture”), as supplemented by the Eighth Supplemental Indenture, dated as of
January 29, 2016 (the “Eighth Supplemental Indenture” and together with the Base Indenture, the “Indenture”), in each case among the Company, Anheuser-Busch InBev SA/NV, as Parent Guarantor, the Subsidiary
Guarantors party thereto from time to time and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Base Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. 
 2.   Series and Denomination 

This Security is one of the series designated on the face hereof, initially limited to an aggregate principal amount of USD
1,470,000,000, except as provided in the Indenture. References herein to “this series” mean the series of securities designated on the face hereof. Except as provided in the preceding paragraph, references herein to the
“Securities” means (unless the context otherwise requires) the Securities of this series and includes any other securities issued, as provided in the Indenture and forming a single series with the Securities of this series, provided
that either (i) such additional Securities are fungible with the Securities of such series offered hereby for U.S. federal income tax purposes or (ii) such additional Securities shall have a separate ISIN number. 

The Securities are issuable only in registered form without coupons in denominations of USD 200,000 in principal amount and
integral multiples of USD 1,000 in excess thereof. 
 3.   Redemption at the Company’s Option

 The Company may, at its option, redeem the Securities of this series in whole, but not in part, on each March 1
on or after March 1, 2021 upon not less than thirty (30) nor more than sixty (60) days prior notice at a redemption price equal to 100% of the aggregate principal amount of the Securities to be redeemed plus accrued and unpaid
interest on the principal amount being redeemed to (but excluding) the Redemption Date. 

  
 A-5 

 Exhibit A 
  

 4.   Optional Tax Redemption 

The Company may, at the Company’s or the Parent Guarantor’s option, redeem the Securities of this series in whole,
but not in part, upon not less than thirty (30) nor more than sixty (60) days’ prior notice, at a redemption price equal to 100% of the principal amount of the Securities of this series then outstanding plus accrued and unpaid
interest on the principal amount being redeemed (and all Additional Amounts, if any) to (but excluding) the Redemption Date, if (i) as a result of any change in, or amendment to, the laws, treaties, regulations or rulings of a jurisdiction in
which the Company or any Guarantor is incorporated, organized or otherwise tax resident or any political subdivision or any authority thereof or therein having power to tax, or in the interpretation, application or administration of any such laws,
treaties, regulations or rulings (including a holding, judgment or order by a court of competent jurisdiction) which becomes effective on or after the Date of the Prospectus Supplement (any such change or amendment, a “Change in Tax
Law”), the Company or, if a payment were then due under a Guarantee, the relevant Guarantor, would be required to pay Additional Amounts and (ii) such obligation cannot be avoided by the Company or the relevant Guarantor taking
reasonable measures available to it; provided, however, that the Securities of this series may not be redeemed to the extent such Additional Amounts arise solely as a result of the Company assigning its obligations under the Securities of
this series to a Substitute Company, unless such assignment to a Substitute Company is undertaken as part of a plan of merger by the Parent Guarantor. 

Prior to the mailing of any notice of redemption pursuant to this Section, the Company or the relevant Guarantor will deliver
to the Trustee an opinion of independent tax counsel of recognized standing to the effect that the Company or the relevant Guarantor is or would be obligated to pay such Additional Amounts as a result of such Change in Tax Law. 

No notice of redemption pursuant to this Section may be given earlier than ninety (90) days prior to the earliest date on
which the Company or the relevant Guarantor would be obligated to pay Additional Amounts if a payment in respect of the Securities of this series were then due. 

5.   Additional Amounts 

In the event that any Guarantor becomes obligated to make payments in respect of the Securities of this series, such Guarantor
will make all payments in respect of the Securities of this series without withholding or deduction for or on account of any present or future taxes or duties of whatever nature imposed or levied by way of withholding or deduction at source by or on
behalf of any jurisdiction in which such Guarantor is incorporated, organized, or otherwise tax resident or any political subdivision or any authority thereof or therein having power to tax (the “Relevant Taxing Jurisdiction”)
unless such withholding or deduction is required by law. In such event, such Guarantor will pay to the Holders of the Securities of this series such additional amounts (the “Additional Amounts”) as shall be necessary in order that
the net amounts received by the Holders, after such withholding or deduction, shall equal the respective amounts of principal and interest which would otherwise have been receivable in the absence of such withholding or deduction; except that no
such Additional Amounts shall be payable on account of any taxes or duties which: 

  
 A-6 

 Exhibit A 
  

 (a)     are payable by any person acting
as custodian bank or collecting agent on behalf of such Holder, or otherwise in any manner which does not constitute a deduction or withholding by such Guarantor from payment of principal or interest made by it, or 

(b)     are payable by reason of such Holder or beneficial owner having, or having had,
some personal or business connection with such Relevant Taxing Jurisdiction and not merely by reason of the fact that payments in respect of the Securities of this series or the Guarantees thereof are, or for purposes of taxation are deemed to be,
derived from sources in, or are secured in, the Relevant Taxing Jurisdiction, or 
 (c)
    are imposed or withheld by reason of the failure of such Holder or beneficial owner to provide certification, information, documents or other evidence concerning the nationality, residence, or identity of the Holder and
beneficial owner or to make any valid or timely declaration or similar claim or satisfy any other reporting requirements relating to such matters, whether required or imposed by statute, treaty, regulation or administrative practice, as a
precondition to exemption from, or a reduction in the rate of withholding or deduction of, such taxes, or 

(d)     consist of any estate, inheritance, gift, sales, excise, transfer, personal
property or similar taxes, or 
 (e)     are imposed on or with respect to any payment
by the applicable Guarantor to the registered Holder of this Security if such Holder is a fiduciary or partnership or any person other than the sole beneficial owner of such payment to the extent that taxes would not have been imposed on such
payment had such registered Holder been the sole beneficial owner of this Security, or 
 (f)
    are deducted or withheld pursuant to (i) any European Union directive or regulation concerning the taxation of interest income, or (ii) any international treaty or understanding relating to such taxation and to
which the Relevant Taxing Jurisdiction or the European Union is a party, or (iii) any provision of law implementing, or complying with, or introduced to conform with, such directive, regulation, treaty or understanding, or 

(g)     are payable by reason of a change in law or practice that becomes effective more
than thirty (30) days after the relevant payment of principal or interest becomes due, or is duly provided for and written notice thereof is provided to the Holders, whichever occurs later, or 

  
 A-7 

 Exhibit A 
  

 (h)     are payable because this
Security was presented to a particular paying agent for payment if this Security could have been presented to another paying agent without any such withholding or deduction, or 

(i)     are payable for any combination of (a) through (h) above. 

References to principal or interest in respect of the Securities of this series shall be deemed to include any Additional
Amounts which may be payable as set forth in the Indenture. 
 The covenant regarding Additional Amounts shall not apply to
any Guarantor at any time when such Guarantor is incorporated in a jurisdiction in the United States, and will apply to the Company any time it is incorporated in a jurisdiction outside of the United States. 

In addition, any amounts to be paid by the Company or any Guarantor on the Securities of this series will be paid net of any
deduction or withholding imposed or required pursuant to Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, any current or future regulations thereunder or official interpretations thereof, any agreement entered into
pursuant to Section 1471(b) of the U.S. Internal Revenue Code of 1986, as amended, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the
implementation of such Sections of the Code (“FATCA Withholding”). Neither any Guarantor nor the Company will be required to pay Additional Amounts on account of any FATCA Withholding. 

6. Transfer and Exchange 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is
registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this
series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable
for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a
sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 A-8 

 Exhibit A 
  

 Prior to due presentment of this Security for registration of transfer, the
Company, the Guarantors, the Trustee and any agent of the Company, the Guarantors or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and
neither the Company, the Guarantors, the Trustee nor any such agent shall be affected by notice to the contrary. 

7.     Limitation on Suits 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to
institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default
with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made a written request to the Trustee to institute proceedings in respect of such
Event of Default as Trustee and offered the Trustee indemnity and/or security, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent
with such request, and shall have failed to institute any such proceeding, for sixty (60) days after receipt of such notice, request and offer of indemnity and/or security. The foregoing shall not apply to any suit instituted by the Holder of
this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

8.     Amendment, Modification and Waiver 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company or the Guarantors and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal
amount of the Securities at the time Outstanding (irrespective of series) that are to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company and the Guarantors with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any
such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this Security. 

  
 A-9 

 Exhibit A 
  

 9.     Defeasance 

The Indenture contains provisions for defeasance at any time of certain restrictive covenants and Events of Default with
respect to this Security upon compliance with certain conditions set forth in the Indenture. 
 10.
    Governing Law 
 This Security shall be governed by and construed in accordance with the laws
of the State of New York. 
 11.     Defined Terms 

All terms used in this Security which are defined in the Base Indenture or the Eighth Supplemental Indenture shall have the
meanings assigned to them in the Base Indenture or the Eighth Supplemental Indenture. 

  
 A-10 

 Exhibit B 
  

 FORM OF GUARANTEE 

For value received, the undersigned (herein called the “Guarantors”, and each, a
“Guarantor”, which terms include any successor Person or Persons under the Indenture referred to in the Security upon which this Guarantee is endorsed), hereby jointly and severally, irrevocably, fully and unconditionally guarantee
to the Trustee and to each Holder of this Security, which has been authenticated and delivered by the Trustee, the due and punctual payment of the principal of (including any amount in respect of original issue discount), and any premium and
interest (together with any Additional Amounts payable pursuant to the terms of this Security), on this Security and the due and punctual payment of the sinking fund payments, if any, and analogous obligations, if any, provided for pursuant to the
terms of this Security, when and as the same shall become due and payable, whether at Stated Maturity or upon redemption or upon declaration of acceleration or otherwise according to the terms of this Security and of the Indenture. In case of
default by the Company in the payment of any such principal (including any amount in respect of original issue discount), interest (together with any Additional Amounts payable pursuant to the terms of this Security), sinking fund payment, or
analogous obligation, each Guarantor agrees duly and punctually to pay the same. Each Guarantor hereby agrees that its obligations hereunder shall rank pari passu with all other unsecured and unsubordinated obligations of such Guarantor,
shall be as principal and not merely as surety, and shall be absolute and unconditional irrespective of any extension of the time for payment of this Security, any modification of this Security, any invalidity, irregularity or unenforceability of
this Security or the Indenture, any failure to enforce the same or any waiver, modification, consent or indulgence granted to the Company with respect thereto by the Holder of this Security or the Trustee, or any other circumstances which may
otherwise constitute a legal or equitable discharge of a surety or guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any right to
require a demand or proceeding first against the Company, protest or notice with respect to this Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged as to this Security
except by payment in full of the principal of (including any amount payable in respect of original issue discount), and any premium and interest (together with any Additional Amounts payable pursuant to the terms of this Security), thereon. 

Each Guarantor irrevocably waives any and all rights to which it may be entitled, by operation of law or otherwise, upon
making any payment hereunder (i) to be subrogated to the rights of a Holder against the Company with respect to such payment or otherwise to be reimbursed, indemnified or exonerated by the Company in respect thereof or (ii) to receive any
payment, in the nature of contribution or for any other reason, from any other obligor with respect to such payment. 
 This
Guarantee shall not be valid or become obligatory for any purpose with respect to this Security until the certificate of authentication on this Security shall have been signed by the Trustee. 

  
 B-1 

 Exhibit B 
  

 All terms used in this Guarantee which are not defined herein shall have the
meaning assigned to them in the Security upon which this Guarantee is endorsed. 
 This Guarantee is subject to the release
upon the terms set forth in the Indenture. 
 This Guarantee is subject to certain limitations and waivers set forth in the
Indenture, as it may be supplemented from time to time. 
 This Guarantee is governed by and construed in accordance with
the laws of the State of New York. 

  
 B-2 

 Exhibit B 
  

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee to be
signed by facsimile by its duly authorized officer or representative and, if required by applicable law, has caused a facsimile of its corporate seal to be affixed hereunto or imprinted hereon. 

 

			
	 ANHEUSER-BUSCH INBEV SA/NV

as Parent Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

	
	 ANHEUSER-BUSCH INBEV WORLDWIDE INC.

as Subsidiary Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

	
	 ANHEUSER-BUSCH COMPANIES, LLC

as Subsidiary Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

	
	 COBREW NV

as Subsidiary Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

  
 B-3 

 Exhibit B 
  

			
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

	
	 BRANDBREW S.A.
 as
Subsidiary Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

	
	 BRANDBEV S.À R.L.

as Subsidiary Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:   Authorized Officer

  
 B-4

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