Asahi : Announcement as Regards Commencing Preparations for Establishment of Intermediate Holding Company and Partial Transferal of Asahi Group Holdings Functions

August 10, 2021

For immediate release

Company Name: Asahi Group Holdings, Ltd.

President and CEO, Representative Director: Atsushi Katsuki

Stock Ticker: 2502

Stock Listings: Tokyo Stock Exchange, First Section

Contact: Osamu Ishizaka

Executive Officer, Head of Corporate Communications

Phone: [phone]

Announcement as Regards Commencing Preparations for

Establishment of Intermediate Holding Company and

Partial Transferal of Asahi Group Holdings Functions

Asahi Group Holdings, Ltd. ("the Company") today announced that its Board of Directors has passed a resolution to commence preparations for the establishment of an intermediate holding company (tentatively titled Asahi Group Japan, Ltd.) and the partial transfer certain functions of the Company to said intermediate holding company, to be completed by January 1, 2022. Details are as follows.

1. Purpose of the establishment of the intermediate holding company

The Asahi Group is working in line with the Asahi Group Philosophy and the Group's Medium- Term Management Policy on key priorities such as enhancing management resources and reinforcing ESG initiatives, as well as premiumization of core brands and offering new added value propositions.

The Group is looking to generate further global synergies and expand its five global brands while boosting the competitiveness of business conducted in the areas overseen by each of its regional headquarters in Japan, Europe, Oceania, and Southeast Asia.

The Company will shift its focus to setting strategies and overseeing the management of the entire Group. Preparations will now commence for the partial transfer of the Company's certain functions to an intermediate holding company scheduled to be established in September 2021. The aim is to reorganize and reinforce regional headquarters functions in order to expand each of the Group's businesses in Japan and maximize their value.

Under this organizational restructuring, companies currently under the oversight of the Company, such as Asahi Breweries, Asahi Soft Drinks, and Asahi Group Foods, are scheduled to be placed under the new intermediate holding company, tentatively titled Asahi Group Japan, Ltd., in January 2022.

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2. Schedule

Early November 2021 Board of Directors approval of details of function transfer

January 1, 2022

Reorganization to be implemented

Details of the function transfer will be announced once they are determined.

3. Scheduled Group structure reorganization Current structure

Structure after establishment of intermediate holding company

After functions are transferred in January 2022

4. Impact on the Asahi Group's financial performance

The scheduled reorganization will have minimal impact on the Group's financial results for the fiscal year ending December 31, 2021.

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