Asahi : Announcement regarding completion of acquisition of the beer and cider business of Fuller, Smith & Turner P.L.C.

May 7, 2019

FOR IMMEDIATE RELEASE

Company name: Asahi Group Holdings, Ltd.

President and Representative Director, CEO: Akiyoshi Koji

Securities Code: 2502

Stock Listings: Tokyo Stock Exchange, First Section

Contact: Takayuki Tanaka

General Manager, Public Relations Section

Phone: [phone]

Announcement regarding completion of acquisition ofthe beer and cider business of Fuller, Smith & Turner P.L.C.

Asahi Group Holdings, Ltd. ("Asahi") is pleased to announce that Asahi Europe Ltd ("AEL"), a wholly owned subsidiary of Asahi, completed the acquisition of the premium beer and cider business and other related assets ("Target Business") of Fuller, Smith & Turner P.L.C. ("Fuller's"), which is listed on the London Stock Exchange, and operates pubs, hotels, and a premium beer and cider business. The acquisition was announced in the "Announcement regarding acquisition of the beer and cider business of Fuller, Smith & Turner P.L.C." issued on January 25, 2019.

1.Regarding completion of the acquisition

On January 25, 2019, AEL concluded a Sale and Purchase Agreement with Fuller's concerning the acquisition of the Target Business and on April 27, 2019, acquired the Target Business based on this agreement.

The purchase price was GBP 250 million on a cash free and debt free enterprise value basis (Approx. JPY 36.0 billion*1).

*1 Calculated at the rate of 144.16 GBP/JPY (as of April 26, 2019)

2.Impact on Asahi's financial performance

This acquisition is not expected to have a material impact on Asahi's non-consolidated and consolidated financial results for the fiscal year ending December 31, 2019.