Ambev reported a resilient performance in Q3 2025, with net revenue growth supported by improved pricing and effective cost management despite softer industry volumes in Brazil. The company also announced a BRL 2.5 billion share buyback program aimed at enhancing shareholder value.

• Net revenue per hectoliter increased by 7%, driving overall top-line growth of 4% year-to-date.
• EBITDA grew 3% with a 50 basis points margin expansion, reflecting effective cost initiatives and operational efficiencies.
• The Balanced Choices portfolio saw significant growth at 36%, with non-alcoholic options up over 20%.
• BEES Marketplace achieved 100% GMV growth, achieving an annualized BRL 8 billion, underscoring Ambev's digital ecosystem expansion.
• The company is focused on maintaining disciplined cost management to improve consolidated EBITDA margins amid industry challenges.