Budweiser Brewing Company APAC Limited (1876) has announced the recommencement of its General Services Framework Agreement with Anheuser-Busch InBev SA/NV (AB InBev) for three years starting October 30, 2025, concluding on October 29, 2028. The overall terms of the agreement, which covers IT services, outsourcing, and various administrative services, remain unchanged.

Alongside this arrangement, the company has set new annual caps for several continuing connected transactions with AB InBev. For Strategic Services and Administrative Services, the maximum aggregate fees payable stand at USD65 million for 2025, USD72 million for 2026, and USD80 million for 2027. Under the Procurement Services Framework Agreement, the annual caps will be USD58 million for 2025, USD67 million for 2026, and USD77 million for 2027.

These agreements cover services such as strategic advice in areas ranging from management support to R&D, as well as procurement functions aimed at leveraging economies of scale and aligning global quality standards. According to the board of Budweiser Brewing Company APAC Limited, the arrangements serve ordinary business needs and are beneficial for operational efficiency. Directors with senior management roles at AB InBev abstained from voting on the resolutions related to these transactions.

Pursuant to relevant listing rules, the connected transactions qualify for partial exemption. They do not require independent shareholders’ approval but remain subject to reporting, annual review, and announcement requirements. The board (excluding abstaining members) deems the agreements fair, reasonable, and in the best interest of all shareholders.