Budweiser Brewing Co APAC Ltd

4.3 Suggestions, issues and concerns raised by Bud APAC's employees and public concerns on this Policy will be reported to the management team and conveyed back to the Procurement and Sustainability Team. Further amendments to this policy will be made as necessary. [...] 4.4 This Policy should be enforced into Bud APAC's practices and the responsibility to review the Policy lies with the Sustainability and Procurement Team. [...] 4.6 This Policy is approved by Terry Yao (Procurement Director – Sustainability), who is a member of the ESG Committee that reports to the Board. [...] 4.7 Key performance indicators ("KPIs") and status updates relating to each commitment identified in this Policy will be reported to meetings of the Board, ESG Committee, Sustainability and Procurement Team's annual strategy when needed. In addition, updated information will be placed on Bud APAC's website. [...] 4.8 This Policy will be regularly reviewed considering legislation, public policy and organizational changes and development in sustainability best practices, or at a minimum, every three (3) years. Updates of the Policy will be presented to the ESG Committee for endorsement.

The Board Committees – which include the Nomination Committee, the Remuneration Committee, and the Audit and Risk Committee – are primarily composed of Independent Non-Executive Directors (INEDs). These committees supervise the business, operational, and financial aspects of Bud APAC with support from the Executive Committee. The Executive Committee handles Bud APAC's everyday operations and puts the Board's directives into action. It also steers the Management Committees, comprising Sustainability, Risk and Ethics and Compliance Committees, to adhere to the company's values and Sustainability Goals. This well-structured governance framework allows for the formulation of initiatives and action plans at the management level, which are then communicated to our sustainability champions and target owners, and ultimately to all of our employees. [...] The cross-departmental Sustainability Committee reports directly to the CEO and Co-Chair, which ultimately reports to the Board. It convenes meetings at least four times annually to discuss Bud APAC's sustainability plans and community initiatives and review its performance. Throughout the year, the Sustainability Working Group updates the Committee on Bud APAC's performance and gaps, as well as global and local sustainability trends. [...] The Risk Committee adopts a cross-functional approach to capture multiple views and expertise across key functions within Bud APAC. The Risk Committee is co-chaired by the Chief Financial Officer and the Chief Legal and Corporate Affairs Officer and comprised of various functional heads. The Risk Committee members meet as a group on a quarterly basis to synthesize and assess risks, as well as to make and implement risk-related recommendations. Sustainability issues, including climate-related topics, are considered in the risk management process by the Audit and Risk Committee.

The Audit and Risk Committee, chaired by an Independent Non-executive Director, is comprised of three members: Mr. Martin Cubbon (Chair), Ms. Katherine Tsang and Mr. Nelson Jamel. Their biographies are set out on pages 33, 35 and 36 of this annual report. **Duties and responsibilities** The primary duties and responsibilities of the Audit and Risk Committee include, among other things, overseeing the financial reporting system, internal control procedures and risk management of the Company, reviewing the financial information of the Company and considering issues relating to the independent external auditor and its appointment. The Audit and Risk Committee also meets with the independent external auditor in the absence of Senior Management during each of the four meetings. **Summary of work performed** During the year ended 31 December 2022, the Audit and Risk Committee devoted considerable time in reviewing and advising on the Group's financial performance and monitoring some of the material risks faced by the Group, such as: - reviewed the Group's quarterly, interim and annual financial statements; - reviewed and considered the Group's 2021 Annual Report, 2021 ESG Report and sustainability assurance report and 2022 Interim Report; - considered and reviewed the key audit matters and material accounting impacts presented by the independent external auditor; - reviewed the Group's annual continuing connected transactions, extension of the Administrative Services Framework Agreement, proposal to fix the annual caps of Strategic Services (and Administrative Services) and Procurement Services and related matters carried out by the independent external auditor; - reviewed the Group's (1) internal control, internal audit and risk management updates; (2) tax updates; (3) legal, ESG and compliance (including matters relating to whistleblowing and anti-corruption) updates; (4) data privacy, solutions, information technology and cybersecurity updates; and (5) safety, environment and quality updates; - reviewed the amendment of its Terms of Reference in accordance with the updated Listing Rules; - considered the proposal to rename "Audit Committee" to "Audit and Risk Committee"; - reviewed the Group's financial and accounting policies and practices and Listing Rules compliance; and - reviewed the independent external auditor's appointment and annual independence confirmation.

The Audit and Risk Committee, chaired by an Independent Non-executive Director, is comprised of three members: Mr. Martin Cubbon (Chair), Ms. Katherine Tsang and Mr. Nelson Jamel. Their biographies are set out on pages 29, 31 and 32 of this Annual Report. **Duties and responsibilities** The primary duties and responsibilities of the Audit and Risk Committee include, among other things, overseeing the financial reporting system, internal control procedures and risk management of the Company, reviewing the financial information of the Company and considering issues relating to the independent external auditor and its appointment. The Audit and Risk Committee also meets with the independent external auditor in the absence of Senior Management during each of the four meetings [...] reviewed the Group's (1) internal control, internal audit and risk management updates; (2) tax updates; (3) legal, external affairs and compliance (including matters relating to whistleblowing and anti-corruption) updates; (4) data privacy, solutions, information technology and cybersecurity updates; and (5) safety, environment and quality updates; [...] reviewed the Group's financial and accounting policies and practices and Listing Rules compliance; [...] reviewed the amendment to the Corporate Governance Charter and its Terms of Reference in accordance with the updated Listing Rules; and [...] reviewed the independent external auditor's appointment and annual independence confirmation.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes