Our operations are
conducted principally by Ambev, and, in the case of our CAC, Latin America South and Canadian operations, by direct and indirect
subsidiaries of Ambev. The following is a list of the significant companies that Ambev controlled, either directly or indirectly,
as of December 31, 2020:
1.
The Company indirectly owns 99.75% of the economic and voting interests in Cerveceria Y Malteria
Quilmes Saica Y G (incorporated in Argentina).
2.
The Company indirectly owns 85.67% of the economic and voting interests in Cerveceria Boliviana
Nacional S.A. (incorporated in Bolivia).
3.
The Company, directly and indirectly, owns 100% of the economic and voting interests in Arosuco
Aromas e Sucos Ltda. (incorporated in Brazil).
4.
The Company, directly and indirectly, owns 100% of the economic and voting interests in CRBS S.A
(incorporated in Brazil).
5.
The Company, directly and indirectly, owns 100% of the economic and voting interests in Cervejaria
ZX S.A. (incorporated in Brazil).
6.
The Company indirectly owns 100% of Labatt Brewing Co. Ltd. (incorporated in Canada).
7.
The Company indirectly owns 100% of the economic and voting interests in Cerveceria Chile S.A.
(incorporated in Chile).
8.
The Company indirectly owns 84.71% of the economic and voting interests in Cervecería Nacional
Dominicana S.A. (incorporated in Dominican Republic).
9.
The Company indirectly owns 50.0% of the economic and voting interests in Industrias Del Atlántico,
Sociedad Anónima (incorporated in Guatemala).
10.
The Company directly owns 100% of the economic and voting interests in Ambev Luxembourg S.à
R.L. (incorporated in Luxembourg).
11.
The Company, directly and indirectly, owns 100% of the economic and voting interests in Cervecería
Nacional S. de R.L. (incorporated in Panama).
12.
The Company indirectly owns 87.36% of the economic and voting interests in Cerveceria Paraguaya
S.A. (incorporated in Paraguay).
13.
The Company directly owns 100% of the economic and voting interests in Jalua Spain S.L. (incorporated
in Spain).
14.
The Company indirectly owns 100% of the economic and voting interests in Monthiers S.A. (incorporated
in Uruguay).
15.
The Company indirectly owns 100% of the economic and voting interests in Linthal S.A., (incorporated
in Uruguay).
16.
The Company indirectly owns 99.93% of the economic and voting interests in Cerveceria Y Malteria
Payssandú S.A. (incorporated in Uruguay).