ABINBEV LOGO OUR LOCATIONS SEARCH MOBILE MENU INVESTORS Payouts Capital Allocation Objectives We will continue to exercise strict financial discipline in the generation and use of cash. We have consistently demonstrated our ability to generate significant operating cash flow from growth in our operating activities, tight working capital management and a disciplined approach to capital expenditure. Please refer to our most recent periodic filings for updates regarding our capital allocation strategy. Our capital allocation priorities are as follows: 1. Organic Growth: Our first priority for the use of cash will always be to invest behind the organic growth opportunities in our business. 2. Deleveraging: Our optimal capital structure calls for a Net Debt/EBITDA ratio of approximately 2x. Deleveraging to around the 2x level remains our commitment. 3. Selective M&A: Non-organic, external growth is a core competency and we will continue to consider suitable opportunities when and if they arise, subject to our strict financial discipline and deleveraging commitment. Can we see some ID? As part of our commitment to responsible drinking, please confirm you are of legal drinking age. 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