Anheuser-Busch InBev SA/NV (BUD) Analyst/Investor Day Transcript

Anheuser-Busch InBev SA/NV ( BUD ) Analyst/Investor Day September 22, 2026 9:30 AM EDT Company Participants Shaun Fullalove - Global Vice President of Investor Relations Michel Doukeris - Chief Executive Officer Ricardo Tadeu - Chief Growth Officer Marcel Marcondes Felipe Ambra Richard Oppy Dani Waks Leanne Martin Lucas Herscovici - Chief Direct-to-Consumer Officer Nick Caton - Chief B2B Officer David Henrique Galatro de Almeida - Chief Strategy & Technology Officer Brendan Whitworth - Chief Executive Officer of North America Zone Kyle Norrington - Chief Commercial Officer Fernando Tennenbaum - Chief Financial Officer Conference Call Participants Edward Mundy - Jefferies LLC, Research Division Sanjeet Aujla - UBS Investment Bank, Research Division Simon Hales - Citigroup Inc., Research Division Chris Pitcher - Rothschild & Co Redburn, Research Division Gen Cross - BNP Paribas, Research Division Sarah Simon - Morgan Stanley, Research Division Andrea Pistacchi - BofA Securities, Research Division Jean-Olivier Nicolai - Goldman Sachs Group, Inc., Research Division Mitchell Collett - Deutsche Bank AG, Research Division Laurence Whyatt - Barclays Bank PLC, Research Division Presentation Operator Please welcome to the stage, Shaun Fullalove. Shaun Fullalove Global Vice President of Investor Relations Hello. Good morning, everyone. So, firstly, welcome to St. Louis. Thanks to those who have been able to join in person. It's hard to believe that it was 3 years ago already since we were all last together in Mexico City. This also marks the 3-year anniversary of my spinning class career. And so I look forward to revisiting that chapter with some of you at 6:30 in the morning tomorrow. Hopefully, the weather in St. Louis is as kind to us as it was in Mexico City. I know it was a long flight for many. Ironically, we have people from Cape Town, where I think it was quite easy. We have people from London and from Europe where it was quite easy. The hardest part to travel from apparently was New York yesterday. So those that persevered through the travel disruptions, we really appreciate you being here with us in person.