Asahi : Notice of Reduction in Amount of Capital Reserve

February 15, 2018

For immediate release

Company Name: Asahi Group Holdings, Ltd.

President and Representative Director: Akiyoshi Koji

Stock Ticker: 2502

Stock Listings: Tokyo Stock Exchange, First Section

Contact: Takayuki Tanaka

General Manager

Public Relations Section

Phone: [phone]

Notice of Reduction in Amount of Capital Reserve

Tokyo, Japan - Asahi Group Holdings, Ltd. ("the Company") announced that the Company has resolved at its Board of Directors held on February 15, 2018 that the Company would submit the proposal below for reducing the amount of its capital reserve to the Annual General Meeting of Shareholders to be held on March 27, 2018.

• 1. Purpose of reduction in the amount of capital reserve

  In a bid to ensure that the future capital policies will be executed in a flexible and prompt manner, the Company will reduce a portion of capital reserve, in accordance with the provision stipulated in Paragraph 1, Article 448 of the Companies Act.

• 2. Outline of the reduction in capital reserve

• (1) Amount to be reduced in capital reserve

  80 billion yen of the capital reserve of 130,292,423,460 yen

• (2) Method of reducing amount of capital reserve

  A portion of capital reserve will be reduced and transferred to other capital surplus.

• 3. Schedule for reduction in capital reserve

• (1) Date of resolution at the Board of Directors Meeting : February 15, 2018

• (2) Date of resolution at the Ordinary General Meeting of Shareholders : March 27, 2018(tentative)

• (3) Creditor objection statement notice : April 10, 2018(tentative)

• (4) Creditor objection statement final deadline : May 10, 2018(tentative)

• (5) Effective date : May 31, 2018(tentative)

• 4. Impacts on future operation

This transaction is a transfer between accounts within the Company's net assets, and will neither affect the amount of the Company's net assets, nor its operating performance.