Hi Marija,

Hope you had a good weekend. We would like to share with you few details around the process of
reviewing the significant or complex contracts. We are focusing mainly on the sensitive clauses
which may result in a different accounting treatment, P&L or balance sheet classification, or items
which should be separated from the host contract: embedded derivatives, embedded leases and at
the same time on clauses which may have a significant financial impact on the contract execution for
example discounts / bonuses as part of variable consideration and revenue recognition, penalties,
guarantees, payment terms, commitments and other contractual obligations.

Items like execution date, effective date, value of the contract are important items to be written in
the Contract review checklist and reconciled with the supporting calculation based on the draft
version of the agreement and should be as precise as may be at the time of Contract Checklist
submission. In case of updates until contract finalization it should be updated as well in the contract
review checklist considering the contract is reviewed also by Global Technical team and in case of
Ukraine contract there will be a sentence included in 10K 2022 reporting regarding reentering the
market.

The objective of the review of the contract is to get the same level of understanding with the
Business Unit around the contractual obligations, accounting considerations and sensitive clauses
which may result in a significant financial impact.

Regarding Prembev contract we understand that we want to expand our presence in South Africa
and currently there is no developed infrastructure however we may agree that there is a very low
profitability EBIT / HL even comparing with a Licence / Royalty contract and at the same time there is
granted a bonus of 5 EUR / HL higher than the estimated profitability 3 EUR / HL.

Please let us know if you want to have a teams call to discuss further details around the process of
the contract review.

Thanks