Market Signal Briefing

Vancouver, British Columbia, February 12th, 2026 – TheNewswire — Prismo Metals Inc. (“Prismo” or the “Company”) (CSE: PRIZ | OTCQB: PMOMF) is pleased to announce that it has received formal permit approval from the U.S. Forest Service to proceed with its fully funded drill program at the Company’s historic Silver King Mine project located in Arizona’s prolific Copper Belt.

The approved permit authorizes drilling from multiple drill pads in the area of the historic mine designed to test the upper part of the Silver King mineralized body that was mined on nine levels over about 300 meters depth (Fig. 1).

Additional high-priority targets identified through recent exploration work can also be tested with some of the planned drill locations. Testing of other targets on private ground is being considered. Mobilization on site is scheduled for February 20th followed by preparatory site work and access improvements followed by drilling.

Dr. Craig Gibson, Chief Exploration Officer of Prismo Metals, commented: “Receiving approval for drilling at Silver King is a key milestone as we transition from surface exploration into active testing of the system. With funding in place for multiple phases of drilling, we are well positioned to evaluate the significant exploration potential of this historic, high-grade silver system.”

Alain Lambert, CEO of Prismo commented: “Following a very smooth permitting process with Forest Service, we are now ready to conduct the first ever comprehensive drill program at Silver King. Our exploration work to date has attracted the attention of many given the results we have published and our proximity (3.4 km) to Resolution Copper, a Rio Tinto/BHP joint venture. I expect the drilling program to heighten attention.”

Phase 1 Drill Program Highlights:

Fully funded program 

1,000 meters of diamond drilling to test the upper portion of the steeply plunging, pipe-like Silver King mineralized body 

Mobilization to Silver King Project scheduled for February 20th, 2026 

Additional drilling to test lower down in the mineralized structure and mineralized areas adjacent to the historic mine may also be completed 

Click Image To View Full Size

Fig. 1.  Permitted drill sites planned for initial Phase I drilling at the Silver King mine shown by white dots.  The orange line indicates the approximate location of the cross section in Fig. 2.  View looking south-easterly.

Drilling will initially focus on testing the upper portion of the steeply west-dipping pipelike stockwork and breccia zone that historically produced high-grade silver and base metals (Fig. 2), as well as targets adjacent to and beneath historic workings. Initial drilling is estimated at 1000 meters in nine holes.  A second phase of drilling will be dedicated to testing at deeper levels and areas adjacent to the historic mine.

Dr. Gibson, added: “We are pleased to engage Godbe Drilling, a highly respected contractor with substantial experience in Arizona and a staging area near the project. The objective is to test the upper half of the steeply dipping pipelike Silver King mineralized body, as well as potential mineralization adjacent to the dense stockwork zones that were the focus of historic mining.”

Drilling Contractor Engagement

Prismo has engaged Godbe Drilling LLC to conduct this Phase 1 drilling program. Godbe Drilling LLC is a Colorado-based family-owned diamond core drilling and mineral exploration business with extensive operating experience in the southwestern United States, including Arizona.

 

Fig. 2.  Cross section through Silver King mine showing workings and first four planned drill holes.

  Silver King Project Overview

The Silver King mine was discovered in 1875 and is one of Arizona’s most significant historic silver producers, with nearly six million ounces of silver produced at average grades ranging from approximately 61 to 21 ounces per ton during early production. Limited small-scale mining in the late 1990s yielded samples with exceptionally high silver and associated gold values, suggesting that high-grade mineralization remains within the system. The project is located within the same geological framework as other world-class deposits in the Arizona Copper Belt, and its proximity to active mining operations enhances its strategic significance.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release.  

About Prismo Metals Inc.

Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube

Prismo Metals Inc.

1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6 Phone: (416) 361-0737

  Contact:

Alain Lambert, Chief Executive Officer [email protected]

Gordon Aldcorn, President [email protected]

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Silver King; and the intended use of any proceeds raised under recent financings.

These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.com) under the Company’s issuer profile.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the proceeds of the Second Tranche as currently anticipated and on the timeline currently expected.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward- looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward- looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

IXICO PLC told investors it has added around £1.5 million of contracted revenue after extending an agreement tied to a global Phase 2 clinical trial in Huntington’s Disease.

The AIM-listed neuroscience imaging and biomarker analytics group said the extension follows continued progress in the study with one of the world’s leading international pharmaceutical companies, although it did not name the customer.

The additional revenue is expected to be delivered over the next three years.

Chief executive Bram Goorden said the latest extension means IXICO has secured over £2.7 million of new revenues with two existing clients in the last two months, highlighting repeat business as trials advance.

"This is another example of how IXICO's compelling IXI™ technology platform and neurological disease expertise consistently deliver gold standard outcomes for biopharma customers as they advance drug development in such a devastating neurological disease," Goorden said.

Around a week ago, IXICO announced the appointment of Tanya Voloshen as its chief commercial officer, in a newly created role, as the firm seeks to accelerate business development activity and broaden its US footprint.

Highlights: N2-25-005: 0.91 g/t Au over 42.3 metres beginning at 14.0 metres downhole, 9.9 metres vertical. Highlight intervals include 2.04 g/t Au over 8.1 metres and 1.31 g/t Au over 11.4 metres.

Nearly half of team members have served over a decade

HR strategies garner international recognition

, /PRNewswire/ -- Sands China Ltd. has once again been awarded the prestigious "Top Employer" certification by the Top Employer Institute, one of the world's most authoritative certifiers of human resources strategies, marking the second consecutive year the company has received this honour. Following last year's milestone as the first integrated resort operator in the Asia Pacific region and the first company in Macao's tourism and service industry to earn this international accreditation, Sands China has successfully retained the accolade in 2026, joining 2,500 certified organisations worldwide. This achievement highlights the company's adherence to international standards and excellence in human resources strategy.

Sands China once again earned the “Top Employer” certification in 2026, in recognition of its outstanding human resources strategies and performance. This year, Sands China outperformed the global average across more than 200 assessment criteria, including leadership, talent acquisition, workplace environment, rewards, and recognition – demonstrating the company's comprehensive human resources management capabilities. Notably, Sands China's initiative to create new positions specifically for people with disabilities was featured in the Top Employer Institute's white paper as a best practice, underscoring the company's long-term commitment to diversity and inclusion.

Grant Chum, chief executive officer and executive director of Sands China Ltd., said: "Receiving the Top Employer certification for two consecutive years is a strong endorsement of our talent strategy and corporate culture. It reaffirms our steadfast commitment to a people-oriented approach and to nurturing talent for Macao. Our team members are the company's most valuable asset, and being a dedicated employer remains our guiding principle. We have hence continuously strived to provide our team with a supportive work environment and innovative initiatives that enhance both career and personal development. We sincerely thank the Macao SAR government and the wider community for their ongoing support in strengthening Macao's talent pool and driving diversified development as we continue to cultivate more high-quality talent to foster Macao's economic diversification."

As Macao's largest private employer, Sands China has nearly 28,000 team members and focuses on three core pillars: attracting, developing, and retaining talent. To this end, the company continues to introduce innovative and forward-looking human resource strategies.

In terms of talent attraction, Sands China leverages its diverse business portfolio and has so far created over 1,400 different job roles across MICE, hospitality, entertainment, retail, and sports events, providing more than 90,000 employment opportunities for Macao residents. Last year, the company introduced a new "stay away from overnight shift" hotel front office position to encourage more local youth to join the tourism and hospitality industry.

To further equip its workforce, Sands China has established more than ten elite development programmes and continues to strengthen the curriculum of the eight professional academies under the Sands China Academy. In 2025, the company launched new initiatives such as the Sands China Integrated Resort Leader Development Programme and the AI Up-skilling Programme, further strengthening team members' core competitiveness.

Sands China also places strong emphasis on employee well-being and holistic health. Last year, the company introduced up to six days of paid Child Care Leave and a Parenthood Support Shift for team members who are new parents to further strengthen Sands China's family-friendly workplace. The company also adopted AI-powered health screening tools to help team members identify potential health risks at an early stage.

As of the end of 2025, more than 14,000 team members have served the company for 10 years or longer, accounting for nearly 50 percent of the entire workforce, testifying to a workplace culture that is well-trusted and embraced by team members.

In 2025, Sands China received 32 international and regional human resources awards, including two awards at the 5th National Human Resources Innovation Competition, and 11 honours at the Employee Experience Awards Hong Kong and Singapore, further validating the effectiveness of its talent development initiatives.

About Sands China Ltd.

Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner Macao®. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, the Londoner Theatre and the Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).

For more information, please visit www.sandschina.com.

Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected] 

Jesse Chiang
Tel: +853 8118 2054
Email: [email protected]

SOURCE Sands China Ltd.

Offshore oil and gas platform supply vessels (PSVs) are docked at a pier in Stavanger, Norway, August 10, 2021. Picture taken August 10, 2021. REUTERS/Nerijus Adomaitis Purchase Licensing Rights, opens new tab

CompaniesOSLO, Feb 12 (Reuters) - Norwegian oil and gas investments are expected to decline this year and next as many field developments are completed while fewer new projects begin, a quarterly survey of the industry showed on Thursday.

Norway produces about 2% of global oil and meets about 30% of Europe's gas needs, after becoming its largest pipeline gas supplier following Russia's invasion of Ukraine in 2022.

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The Nordic country's biggest business sector expects to invest 255 billion Norwegian crowns ($27 billion) this year, down from a record 273 billion crowns in 2025, Statistics Norway said.

Investments may be impacted, however, by cost inflation or new project additions, leaving the 2026 level subject to change.

"It is expected that a few more projects will have plans for development and operations (PDOs) submitted this year, which will increase the field development estimate for 2026 beyond what is included in this count," Statistics Norway added.

The 2025 estimate was down from 275 billion crowns seen in a survey published last November. The estimates for this year were up from 249 billion crowns previously.

Strong investments growth over the last three years was driven by a series of offshore oil and gas projects approved in 2022 under temporary tax incentives.

The initial estimate for 2027 investments stood at 201 billion crowns, mainly related to investments in already operating fields, which also includes some smaller developments of near-field discoveries, Statistics Norway said.

The largest ongoing developments are expected to be completed in 2027, and will not be fully replaced by new developments, it added.

($1 = 9.4869 Norwegian crowns)

Reporting by Nerijus Adomaitis, editing by Alex Richardson and Terje Solsvik

Our Standards: The Thomson Reuters Trust Principles., opens new tab

BELLEVUE, Wash.--(BUSINESS WIRE)--T-Mobile US, Inc. (NASDAQ: TMUS) (“T-Mobile”) announced today that T-Mobile USA, Inc., its direct wholly-owned subsidiary (“T-Mobile USA” or the “Issuer”), plans to offer, subject to market and other conditions, euro-denominated senior notes (the “notes”) in a registered public offering. T-Mobile USA intends to use the net proceeds from the offering for general corporate purposes, which may include among other things, share repurchases, any dividends declared by T-Mobile’s Board of Directors and refinancing of existing indebtedness on an ongoing basis.

Barclays Bank PLC, BNP PARIBAS, Crédit Agricole Corporate and Investment Bank, Goldman Sachs & Co. LLC and Morgan Stanley & Co. International plc are the joint book-running managers for the offering of the notes.

The Issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering of notes to which this communication relates. Before you invest, you should read the prospectus in that registration statement and the related prospectus supplement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and the offering of notes. You may get these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the notes offering will arrange to send you the prospectus and related prospectus supplement if you request it by contacting Barclays Bank PLC, 1 Churchill Place, London E14 5HP, United Kingdom, Telephone: +44 (0) 20 7773 9098, Email: [email protected]; BNP PARIBAS, 16, boulevard des Italiens 75009 Paris, France, Attention: Debt Syndicate Desk, Email: [email protected], Telephone: (toll-free) +1-800-854-5674; Crédit Agricole Corporate and Investment Bank, Broadwalk House 5 Appold Street, London EC2A 2DA, United Kingdom, Email: [email protected]; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, New York 10282, Telephone: +1-866-471-2526, Email: [email protected] or Morgan Stanley & Co. International plc, Telephone: +1-866-718-1649.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, the related guarantees or any other securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) pursuant to Regulation (EU) 1286/2014 has been prepared as not available to retail in EEA.

Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No UK PRIIPs key information document (KID) pursuant to Regulation (EU) 1286/2014 as it forms part of UK domestic law by virtue of the EUWA has been prepared as not available to retail in the UK.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on T-Mobile management’s current expectations. Such statements include, without limitation, statements about the planned offering of the notes and statements regarding the intended use of proceeds from the offering of the notes. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including, without limitation, prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect T-Mobile and its results is included in T-Mobile’s filings with the SEC, which are available at http://www.sec.gov.

More News From T-Mobile US, Inc.

HEALWELL has successfully integrated its Khure and Pentavere AI capabilities into a unified AI engine powered by DARWEN™ and is expanding its offerings across the joint customer base through coordinated Orion-Verosource commercial initiatives, enabling new upsell and cross-sell opportunities. HEALWELL is continuing to expand AI capabilities across its software platforms, including the North American launch of Amadeus AI in 1H-26, with international expansion planned for late 2026, the deployment of AI-powered features such as Smart Search, Smart Summary, and Smart ID within Orion Health's platform, and the expansion of DARWEN™ capabilities across new disease states.

XRP is signaling a breakeven phase rather than aggressive profit-taking, as the market enters a key reset zone.

Brian Njuguna2 min read

12 February 2026, 05:49 AM

Source: ShutterstockXRP’s SOPR Reset Signals Cooling Sell Pressure and Potential Base-Building PhaseXRP is back in the spotlight as on-chain data signals a possible turning point in market sentiment and positioning. XRP Update notes the 30-day EMA of XRP’s Spent Output Profit Ratio (SOPR) slipping toward the pivotal 1.0 mark, widely seen as a psychological and structural “reset” level where profit-taking and loss-selling often reach equilibrium.

SOPR shows whether coins moved on-chain are being sold at a profit or a loss compared to their purchase price. A value above 1.0 signals profit-taking, while below 1.0 indicates losses. 

When SOPR sits near 1.0, coins are changing hands around their cost basis, reflecting a market at breakeven and often a key decision point for trend direction.

Notably, XRP’s moving back to this level stands out as a change in market behavior. Instead of heavy profit-taking that fuels sustained sell pressure, many traders appear to be closing near break-even. This points to a shakeout of weaker hands rather than the frothy, overbought conditions often seen at local tops.

XRP’s SOPR Reset Signals Market Rebalance and Potential Base-Building PhaseHistorically, SOPR resets tend to follow sharp volatility and signal a cooling-off phase where the market rebalances. 

Speculative excess gets flushed out, supply shifts to longer-term holders, and price often stabilizes within a range, a process analysts call “base building” that can precede a clearer trend.

While a reset doesn’t guarantee an immediate rally, it can strengthen market structure. With fewer holders sitting on large unrealized gains, sell pressure typically eases, reducing downside risk and making price more sensitive to fresh catalysts like regulatory clarity, ecosystem expansion, or broader crypto momentum.

Per CoinCodex, XRP trades around $1.38, near key psychological levels. On-chain signals suggest a market reset rather than overheating. 

Source: CoinCodexSustained support, rising SOPR, and healthy volume could signal base-building, offering traders early insight into whether XRP will consolidate or stage its next major move.

ConclusionXRP’s return to the 1.0 SOPR threshold signals a market reset, with selling near break-even rather than heavy profit-taking. Historically, this zone marks reduced pressure and early consolidation, potentially paving the way for healthier price action. 

Therefore,  monitoring on-chain metrics and key support near $1.38 may offer early insights into whether XRP is stabilizing or gearing up for its next trend.

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Brian Njuguna is a seasoned crypto journalist at Coinpaper, specializing in blockchain innovation, market trends, and regulatory developments. With a background in economics and years of experience covering the digital asset space, Brian delivers sharp, data-driven insights that cut through the hype. His reporting bridges global crypto narratives with emerging market perspectives, making complex topics accessible to a wide audience.

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Latest Cryptocurrencies News TodayXRP (Ripple) NewsXRP Price Prediction

Rongchai Wang Feb 12, 2026 06:56

Circle's USDC OpenClaw Hackathon awarded $30K to AI-built projects, with autonomous agents handling submissions, evaluation, and voting without human judges.

Circle just ran a hackathon where humans weren't allowed to judge. The USDC OpenClaw Hackathon, which concluded February 8, distributed $30,000 USDC across three tracks—with autonomous AI agents handling everything from project submissions to peer evaluation to final voting.

The experiment ran on Moltbook, an AI-only social platform, and generated 200+ submissions, 1,800+ votes, and 9,700+ comments over five days. No human judges touched the process.

The WinnersClawRouter took the Agentic Commerce track by building infrastructure that gives each AI agent its own USDC wallet. The system lets agents purchase LLM inference directly, routing requests to the cheapest capable model and paying per-request using signed USDC authorizations. No human accounts or API keys required.

ClawShield won Best OpenClaw Skill for tackling a real problem: what happens when an AI agent installs malicious code? The security tool scans repositories for unsafe patterns and enforces permission manifests at runtime, blocking credential theft attempts and logging everything.

MoltDAO claimed Most Novel Smart Contract with a governance system designed exclusively for AI participants. Humans fund it, but only agents can create proposals and vote using USDC-denominated voting power. The contracts handle the full proposal-to-distribution pipeline on-chain.

What Actually Happened When Agents Judged AgentsThe results weren't always intuitive. Several heavily-discussed projects didn't win because their creators failed to meet basic eligibility requirements—submitting a project AND voting on five others. Strong ideas that didn't follow the rules simply weren't considered.

Format compliance tripped up many participants. Agents invented track categories that didn't exist, skipped required headers, or structured posts in ways humans could understand but didn't match the published specifications. The irony of AI agents hallucinating submission requirements wasn't lost on observers.

Projects that won shared common traits: clear summaries, deployed contracts with verifiable code, and structured documentation that other agents could quickly parse. Narrative storytelling mattered less than machine-readable proof of work.

The Bigger PictureCircle positioned this as more than a marketing exercise. With USDC's market cap sitting at $72.86 billion as of February 11, the stablecoin issuer is betting that machine-to-machine commerce will become a significant use case.

ClawRouter's approach—agents autonomously managing spend, authentication, and vendor selection—hints at where this could go. If AI agents start purchasing cloud compute, API access, and other services directly, they'll need programmable money that settles instantly. USDC fits that bill.

The hackathon's friction points are equally instructive. When agents struggled with submission formats, it highlighted how much current infrastructure assumes human flexibility. Future agent-native systems will need explicit requirements and verifiable outputs baked in from the start.

Circle says more challenges are coming. Builders can follow m/usdc on Moltbook for updates on future experiments in agent-run competitions.

Image source: Shutterstock

usdc circle ai agents hackathon defi

4 mins mins

What an asset disposal stalemate means in a Bitcoin laundering caseIn a Bitcoin laundering case, an asset disposal stalemate arises when authorities have identified, frozen, or seized cryptocurrency but cannot lawfully liquidate or return it to victims. The blockage persists until ownership, forfeiture, and procedural requirements are satisfied.

In a $300 million scenario, funds can sit across wallets, exchange accounts, or government custody while courts resolve competing claims and due process. Delays intensify when flows traverse multiple chains or privacy tools.

The chokepoint often emerges after initial tracing but before court-authorized disposal, particularly when launderers use mixers, peel chains, cross-chain swaps, or convert portions into privacy coins that frustrate attribution.

Why these stalemates happen: legal, technical, and jurisdictional bottlenecksLegally, disposal requires due process, notice, and court orders; multi-jurisdiction evidence collection and service of process can extend timelines in complex fraud and laundering matters. Cross-border evidence and asset-sharing add further friction.

As reported by Cointelegraph, experts say converting stolen BTC into Monero (XMR) can frustrate tracing, and a Binance official noted that exchange freezes typically await formal legal process. These constraints slow progression from freeze to liquidation.

As reported by TRM Blog, prosecutors have invoked organized-crime statutes in a $263 million crypto-theft conspiracy, underscoring complex evidence needs that can elongate investigations. Such breadth can defer the point when courts permit disposal.

For victims, a stalemate defers restitution and extends uncertainty, with recovery contingent on adjudication of forfeiture, competing claims, and technical attribution of tainted flows. Communication often trails investigative realities.

As reported by CoinDesk, a prominent forfeiture action was characterized by a former acting U.S. attorney as tone-setting, signaling a shift toward earlier victim-focused recoveries in digital-asset cases. Clearer priorities can support market confidence.

Confidence can be affected when large headline sums remain immobilized; timely, transparent updates help mitigate speculation while courts and agencies complete required steps. Liquidity and certainty typically improve only after judicial milestones.

How civil forfeiture can unblock crypto asset disposal delaysAccording to the U.S. Department of Justice, civil forfeiture allows the government to seize crime proceeds without waiting for criminal charges, enabling earlier custody of assets for potential restoration. In June 2025, the department filed a civil forfeiture action involving roughly $225.3 million in cryptocurrency tied to fraud, illustrating how in rem actions can advance victim-first outcomes before arrests.

While procedures vary by case, civil tools can convert a freeze into court-ordered custody, clearing a path to liquidation and later remission if ownership and loss are established. Many practitioners view the pivot as a practical response to extended investigations. “This approach is tone-setting,” said former Acting U.S. Attorney Phil Selden.

DOJ civil forfeiture steps and tracing limits after Monero (XMR) swapsTypical steps include identifying assets, filing a complaint in rem, obtaining seizure or restraining orders, taking custody, and later seeking remission or restoration after judicial findings. These steps can proceed before indictments in suitable cases.

When Bitcoin is swapped into Monero, visibility often diminishes after the swap, constraining attribution and narrowing what can be included in a forfeiture complaint or recovered later. The swap can mark a practical end to on-chain tracing.

Where on-chain visibility breaks, investigators may rely on exchange records, off-chain evidence, or cooperating witnesses to bridge gaps created by privacy-coin conversions. These alternatives can still support partial forfeiture and restitution.

Exchange cooperation and freezing workflows, including platforms like BinanceExchange cooperation generally follows receipt of lawful process, account identification, a targeted freeze, and eventual transfer to law-enforcement custody or a controlled liquidation, depending on court orders. Documentation and legal sufficiency are central throughout.

Platforms such as Binance can act once served, but workflows, KYC reviews, and multi-jurisdiction coordination often dictate response time and the scope of any freeze. These mechanics influence how quickly stalemates can be resolved.

At the time of this writing, Bitcoin is about $67,097 with very high 11.72% volatility and bearish sentiment, based on data from Yahoo Scout. These figures are contextual and do not imply any forecast or advice.

FAQ about asset disposal stalemateThey need court authorization, clear ownership findings, cross-border cooperation, and traceable flows. Privacy coins and multi-exchange paths can delay admissible evidence and disposal orders.

How does civil forfeiture work for cryptocurrency and how long does restitution usually take?Authorities file an in rem action to seize assets before charges. Restitution timing varies by case complexity and court rulings; it often spans months or longer.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Story HighlightsThe live price of the MANA crypto token is  $ 0.10006418.Price predictions for 2026 range from $0.247 – $0.40.By 2030, the MANA price could surge toward $4.90 due to growing trader activity.Decentraland (MANA) is one of the earliest and most recognizable names in the metaverse sector. Built on Ethereum, Decentraland allows users to own virtual land, create experiences, and participate in a digital space using its native token, MANA.

While the overall metaverse narrative has cooled since its 2021 peak, Decentraland continues to maintain an active ecosystem focused on virtual events, social experiences, and creator-led development.

If you’re curious about Decentraland’s future and wondering whether MANA is a good investment, this MANA price prediction 2026–2030 will walk you through its potential growth and long-term outlook.

CryptocurrencyDecentralandTokenMANAPrice$0.1001 4.79% Market Cap$ 197,099,326.4124h Volume$ 16,697,518.5906Circulating Supply1,969,729,010.3688Total Supply2,193,179,327.3202All-Time High$ 5.9023 on 25 November 2021All-Time Low$ 0.0079 on 13 October 2017Coinpedia’s MANA Price Prediction 2026MANA cryptocurrency has experienced a 98% decline since the FTX crash in 2021. However, it is showing remarkable resilience. The critical support level established in early 2021 is essential. If MANA can rise and close above $0.35 in the first quarter of 2026, it could set the stage for an impressive 1,000% increase, making a $1.00 target price for the year not just possible, but highly attainable.

Decentraland (MANA) Price Prediction 2026MANA crypto’s multi-year performance chart reflects a dramatic 98% decline since the FTX crash in 2021, leading many enthusiasts and investors to speculate about the project’s potential end. 

This sharp price depreciation has instilled fear among investors, who have witnessed continuous negative price action for years. However, it is essential to consider the historical support level that has been in place since early 2021, which warrants attention despite the recent stagnation in price movement.

Although the project has experienced considerable setbacks over the past half-decade, there still remain arguments for a potential revival. The primary argument is the avoidance of delisting from several exchanges, indicating that MANA/USD continues to pursue efforts aimed at market recovery and still retains decent liquidity in a project with an over $250 million market cap.

Thus, the current retest of this support level is particularly noteworthy. A reversal at this juncture could result in substantial upward momentum. Conversely, if this support range is breached, it would likely reinforce perceptions of MANA crypto as a failing venture.

That said, it is crucial to closely monitor the $0.35 level. Should MANA successfully breach this level and maintain above it with a weekly close, this would signify a significant “Change of Character” for the price dynamic. Under such circumstances, a conservative target of $1.00 for the year may be warranted.

Price PredictionPotential Low ($)Average Price ($)Potential High ($)20260.951.451.95MANA On-chain AnalysisMANA’s exchange reserves have plummeted from 606M to 312M tokens, a massive 48% supply drain signaling aggressive accumulation. This consistent liquidity exit creates a powerful supply-crunch, drastically reducing sell-side pressure and preparing the asset for a significant parabolic breakout as market demand grows.

Furthermore, a bullish transfer of wealth is underway. While retail holders dump their positions, institutional whales holding 10M–1B tokens are absorbing the supply. This shift from weak to strong hands confirms deep conviction among major players, providing a solid floor for MANA’s future growth.

Decentraland MANA Price Prediction 2026 – 2030Price Prediction YearsPotential Low ($)Average Price ($)Potential High ($)Decentraland (MANA) Price Forecast 20260.951.451.95MANA Token Price Forecast 20271.552.152.85Decentraland Price Analysis 20282.453.053.65Decentraland Price Prediction 20293.553.954.35MANA Price Prediction 20304.154.655.15Decentraland (MANA) Price Forecast 2026According to forecast prices and technical analysis, Decentraland’s price is projected to reach a minimum of $0.95 in 2026. The maximum price could hit $1.95, with an average trading price of around $1.45.

MANA Token Price Forecast 2027Looking forward to 2027, MANA’s price is expected to reach a low of $1.55, with a high of $2.85 and an average forecast price of $2.15.

Decentraland Price Analysis 2028In 2028, the price of a single Decentraland is anticipated to reach a minimum of $2.45, with a maximum of $3.65 and an average price of $3.05.

Decentraland Price Prediction 2029By 2029, Decentraland’s price is predicted to reach a minimum of $3.55, with the potential to hit a maximum of $4.35 and an average of $3.95.

Decentraland (MANA) Price Prediction 2029In 2030, the MANA coin price is predicted to touch its lowest price at $4.15, hitting a high of $5.15 and an average price of $4.65.

What Does The Market Say?Year202620272030CoinCodex$0.26$0.39$0.67Tokenmetrics$0.78$1.41$2.11DigitalCoinPrice$0.33$0.61$3.32Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsWhat is Decentraland (MANA) and how does it work?

Decentraland is a virtual world on Ethereum where users buy land, create experiences, and trade using the MANA token.

What is the predicted price of MANA in 2026?

MANA could trade between $0.247 and $0.40 in 2026, with potential upside if it maintains key support and adoption grows.

What is Decentraland’s price prediction for 2030?

By 2030, MANA could reach a high of $4.92, a low of $4.15, and an average price of $4.65, reflecting adoption and growing metaverse use.

How high could MANA price go in 2040?

Over the long term, MANA may see substantial growth if adoption and virtual land demand expand, potentially reaching a high of $12–$15 by 2040.

What drives the price of MANA?

MANA’s price is influenced by virtual land demand, user growth, creator tools, and on-chain activity in Decentraland.

Can Decentraland compete with other metaverse projects?

Yes, if Decentraland expands events, gaming, and creator tools, it could attract more users and remain a top metaverse platform.

Disclaimer and Risk WarningThe price predictions in this article are based on the author's personal analysis and opinions. CoinPedia does not endorse or guarantee these views. Investors should conduct independent research before making any financial decisions.

Uniswap (UNI) Price Jumps 40% on BlackRock News — Did the Rally Just Trap Retail Buyers? Prefer us on Google

UNI surged 40% on BlackRock news, but whale selling erased 26% within hours.OBV breakout showed retail FOMO, while whales dumped 5.9 million tokens near $4.57.Failure to hold $3.21 could send UNI back toward $2.80 and erase news-driven gains.Uniswap price is up around 3% over the past 24 hours, trading near $3.40. But this small move hides what really happened on February 11. That day, UNI surged nearly 42% to a high near $4.57 after news linked Uniswap to BlackRock’s tokenized fund expansion.

Since then, sellers have erased about 26% of that rally. This raises a key question: was this institutional-driven breakout a real trend shift, or a trap for retail buyers?

Uniswap Price Breakout on February 11 Was Driven by Retail MomentumThe rally on February 11 did not happen randomly.

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On the 12-hour chart, Uniswap price had been forming a bullish setup since mid-January. Between January 19 and February 11, UNI made lower lows while the Relative Strength Index, or RSI, made higher lows. RSI measures momentum by tracking buying and selling strength. When price falls, but RSI rises, it signals a bullish divergence, often warning that selling pressure is weakening.

Bullish Structure: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

This divergence suggested that a rebound was building.

That signal was confirmed on February 11. On that day, On-Balance Volume, or OBV, broke above a long-term descending trendline. OBV tracks whether volume is flowing into or out of an asset. When OBV breaks upward, it usually shows growing retail participation. The timing was important.

Retail Participation Behind The Rally: TradingViewRSI divergence had been in place for weeks. OBV only broke out on February 11, exactly when the BlackRock-linked news hit the market. This shows that retail traders reacted aggressively to the headline, rushing into UNI.

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With momentum and volume aligned, the Uniswap price surged to around $4.57 in a single session. But the structure of that candle raised early warning signs.

On the 12-hour chart, the breakout candle formed with a very long upper wick and a small body. This means buyers pushed the price higher, but sellers absorbed most of the move before the close. It was the first sign that a strong supply existed near $4.50. The rally looked powerful. But distribution had already started.

Whale Selling Near $4.57 Explains the Sharp RejectionThe long wick on February 11 was not driven by random selling. Whale data shows who was responsible.

On that day, supply held by large Uniswap holders dropped sharply from about 648.46 million UNI to 642.51 million UNI. That is a reduction of roughly 5.95 million tokens. At prices near $4.57, this represents selling pressure worth about $27 million.

This was not profit-taking by small traders. It was a coordinated distribution by large wallets.

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Uniswap Whales In Action: SantimentWhile retail buyers were chasing the breakout, whales were exiting into strength. This explains why the UNI price failed to hold above $4.50 and why the rally collapsed so quickly. Once large holders finished selling, buy-side momentum weakened. Without whale support, the market could not sustain elevated prices.

The result was a fast retracement. From the $4.57 peak, the Uniswap price fell about 26%. Most late buyers were possibly immediately pushed into losses. This confirms that the BlackRock-related surge became a liquidity event for large holders.

Retail provided the demand. Whales provided the supply.

4-Hour Chart Shows the Uniswap Price Rally Target Was Already CompletedThe lower timeframe explains why the pullback started so quickly. On the 4-hour chart, Uniswap had been forming an inverse head-and-shoulders pattern inside a descending channel. This is a classic reversal structure that often signals a short-term breakout.

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On February 11, UNI broke above the neckline of this pattern and quickly reached its projected target near $4.57. In technical terms, the setup had already completed its measured move.

Uniswap Price Structure: TradingViewAt the same time, the 4-hour OBV divergence became clear. Between late January and February 11, UNI moved higher, but OBV continued trending lower. This shows that volume strength was weakening even as the price rose. This bearish OBV divergence warned that the breakout was not being supported by sustained retail demand. Plus, the OBV is currently trending down, showing retail offloading.

Retail traders focused on the price move. Whales focused on the structure. By the time most buyers entered, the rally was already mature. Now, price is drifting near $3.40 while volume continues to weaken. This suggests that speculative demand is fading.

Uniswap Price Analysis: TradingViewIf UNI holds above $3.21, the market may attempt consolidation. But this support is fragile because it is built on short-term buying, not long-term accumulation.

A breakdown below $3.21 would likely trigger another sell wave. In that case, the next major level sits near $2.80, which marks the head of the prior reversal pattern. A move to this zone would erase all of the BlackRock-driven gains.

To regain strength, Uniswap price must reclaim the $3.68 to $3.96 region. This area now acts as a major obstacle after the failed breakout. Only a sustained move above it would reopen upside toward $4.57.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

The company is upgrading its DEX this year with community governance, staking, and real-world asset trading

Aster, a decentralized perpetual exchange endorsed by Binance founder Changpeng Zhao, plans to launch Aster Chain’s mainnet in March, the team announced on X on Wednesday.

Aster Chain mainnet in March.

Privacy is good. Aster is good. 🥷

— Aster (@Aster_DEX) February 12, 2026

The rollout, part of the company’s 2026 roadmap, is designed to boost Aster’s infrastructure with a dedicated network for its on-chain products as well as tools for builders and integrated fiat on/offramps.

The layer 1 testnet went live in early February 2026 after initial whitelisted testing in late 2025, with over 50,000 participants. The upcoming mainnet launch will mark a shift from testing to full production after the project completed several testnet phases.

Aster plans to focus on community-driven upgrades to its decentralized exchange in 2026.

Key initiatives include governance features powered by the native token, staking and on-chain participation, and expanded access to real-world assets like stock perpetual markets, enhancing its synthetic trading offerings beyond crypto.

Bitcoin treasury company Strategy will further lean on its preferred stock sales to acquire Bitcoin, shifting from its strategy of selling common stock, says CEO Phong Le.

“We will start to transition from equity capital to preferred capital,” Le told Bloomberg’s “The Close” on Wednesday.

Stretch (STRC) is Strategy’s perpetual preferred stock, launched in July, and is aimed at buyers looking for stability by offering an annual dividend of over 11%. 

STRC is the company’s fourth perpetual preferred offering, launched to finance its Bitcoin (BTC) purchases. It’s an alternative to issuing new shares that dilute its stock price.

Strategy CEO Phong Le appears on Bloomberg’s “The Close” on Wednesday. Source: YouTubeLe admitted that its preferred stock will “take some seasoning” and marketing to pitch traders on the offering, but added that “throughout the course of this year, we expect Stretch to be a big product for us.”

Strategy could restart offerings as STRC hits $100STRC reclaimed its par value of $100 at the close of trading on Wednesday for the first time since mid-January, which Le said was the “story of the day.”

The stock had dipped below $94 earlier this month as Bitcoin crashed under $60,000, but with it now trading at par — the price Strategy has designated as its minimum — the company could again offer shares to fund more Bitcoin purchases.

Bitcoin has traded mostly flat over the last 24 hours at around $66,800, down from an intraday high of over $68,000.

Buying Bitcoin treasury rivals a “distraction”Analysts have warned that the crypto treasury space is becoming crowded as companies compete for a small segment of traders, leading to some companies' crypto holdings being worth more than the companies themselves.

In that case, some analysts said that rival treasury firms could move to acquire underperforming companies to scoop up Bitcoin on the cheap, but Le said Strategy isn’t interested in making such a move.

“I think in any new market, whether it be electric cars or AI or SaaS software, you want to focus on your core product,” Le said. “I think it would be a distraction to go buy, at a discount to net asset value, another digital asset treasury company.”

Shares in Strategy (MSTR) ended trading on Wednesday down over 5% at $126.14. 

Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’

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XRP Prints $4.11B Volume on Upbit Amid Market ShakeoutXRP is in the spotlight this week, logging $4.11B in seven-day trading volume on top South Korean exchange Upbit, according to leading market analyst X Finance Bull.

Nevertheless, the price has slipped by 5.06% to around $1.38 per CoinCodex data, highlighting a market in motion, where rising activity amid a dip reflects decisive buying and selling pressure, not routine fluctuations.

Source: CoinCodexRising trading volumes during XRP’s recent pullback signal a redistribution phase, strong hands accumulate while weaker holders exit. This decisive market behavior, rather than indecision, sets the stage for the next trend. Notably, XRP led 2025 trading in South Korea, surpassing Bitcoin and Ethereum, per Upbit.

Historically, high-volume periods with moderate price dips often precede consolidation or renewed gains. XRP’s current environment mirrors this pattern, as investors carefully rebalance, some buying on dips, others exiting near entry to limit losses, resulting in a cleaner market with fewer speculative distortions. 

Notably, a 4.8M XRP transfer from Upbit last month cost just $0.02, highlighting the XRP Ledger’s efficiency.

XRP Reset Zone Signals Market Redistribution and Potential Base-BuildingOn-chain metrics reinforce a reset narrative for XRP. Its SOPR hovers near 1.0, showing coins are trading at break-even, typical of a 'reset zone' where weaker hands exit and stronger holders accumulate, setting the stage for healthier price action. 

Meanwhile, panic buying on South Korea’s Upbit drove $1.55B in seven-day volume, outpacing global exchanges and highlighting heightened investor urgency.

What’s the key takeaway? Well, XRP remains in focus as the market tests conviction. Strong hands show confidence in the long-term narrative while weaker holders exit. 

Tracking trading volumes, key support levels, and on-chain metrics offers critical insights into whether this redistribution phase will lead to base-building or a renewed rally.

Notably, XRP’s $4.11 billion surge on Upbit highlights a market in transition, participants’ actions are signaling a decision, giving attentive traders a potential strategic edge.

ConclusionXRP’s rising volume amid a slight price dip signals active market reshaping. Strong hands are accumulating as weaker holders exit, indicating a redistribution phase. 

This surge in activity may set the stage for consolidation or a future upward move. Traders should closely monitor volume trends, key supports, and on-chain metrics to gauge XRP’s next direction.

Berachain price exploded higher after an extreme funding imbalance in perpetual markets triggered a wave of short liquidations.

Summary

BERA rallied 82% in 24 hours as futures volume rose 632% and open interest jumped over 102%. Funding rates swung between -5,900% and +3,000% annualized, triggering a short squeeze post-unlock. Technical structure has improved above key resistance, but broader trend reversal still needs confirmation. BERA was trading at $0.937 at press time, up 82% in the past 24 hours. The token moved between $0.5117 and $1.43 during that period and had earlier surged more than 150% before pulling back. The rally leaves BERA up 120% over the past seven days and 70% over the last month.

Spot activity expanded sharply. 24-hour trading volume reached $1.05 billion, a 465% increase. Derivatives markets were even more aggressive.

According to CoinGlass data, futures volume jumped 632% to $2.94 billion, while open interest climbed 102% to $142.80 million, indicating heavy repositioning rather than simple spot buying.

Extreme funding rates trigger squeeze The move was driven by an unusual discrepancy in Berachain (BERA) perpetual futures. Traders reported funding rates ranging from -5,900% to +3,000% on an annualized basis, far outside typical norms. Perpetual contracts were also trading materially below spot, creating a wide basis.

Funding rates act as a balancing tool between longs and shorts. When rates turn deeply negative, shorts pay longs. That structure often reflects crowded bearish positioning. If the price begins to rise, shorts are forced to buy back contracts, which accelerates the move.

That is what appears to have happened.

The anomaly intensified after the Feb. 6 token unlock of 63.75 million BERA, roughly 41.7% of the circulating supply. Many traders had positioned for heavy post-unlock selling. Instead, the market absorbed the supply without a collapse. As prices began to climb, short positions were squeezed.

BERA spiked 83% to around $1.4 before dropping 35% within 15 minutes. Binance alone reportedly saw close to $1 billion in perpetual volume during the swing. In a token with a market cap near $190–210 million, concentrated whale activity can easily trigger liquidation cascades.

Sentiment was also supported by the project’s strategic pivot toward a more revenue-focused approach and relief after earlier overhangs, including a refund clause expiry and the unlock event itself.

Berachain price technical analysis Structurally, BERA has been in a clear downtrend since listing, printing lower highs and lower lows while trading below the 20-day and 50-day moving averages. The recent 80% surge is the first meaningful impulsive leg against that structure.

Berachain daily chart. Credit: crypto.news Price has now reclaimed the 20-day moving average and is attempting to hold above the 50-day average near $0.57, which had acted as dynamic resistance for weeks. However, the 20-day remains below the 50-day. No bullish crossover has formed yet, so the broader trend has not officially flipped.

Bollinger Bands had been tightly compressed before the move. They have now expanded sharply, with price breaking above the upper band and printing a wick above $1.50. Such expansion can signal either continuation or a blow-off top.

Momentum has improved. The relative strength index sits near 67 after spending months below 50. A sustained move above 60 often marks an early shift in regime, though it is not yet in extreme overbought territory.

For bulls, holding above the $0.87–$0.90 zone is critical. A strong daily close above $1.50 would confirm a higher high and open the door toward $1.80–$2.00.

For bears, a breakdown below $0.90 followed by a close under the $0.57 50-day average would suggest the rally was primarily a funding-driven squeeze rather than the start of a durable reversal.

Losses are mounting up for short-term holders of Bitcoin as the asset dumps below $70,000 again.

“Short-term holders keep suffering as this correction drags on,” said CryptoQuant analyst ‘Darkfost’ on Wednesday.

The short-term holder cost basis is around $94,200, and with BTC back at around $67,000, the price gap has now reached 28%, they said.

“So we can roughly estimate an average unrealized loss of about 28% for STHs, if we simplify things.”

Not a Correction, But Bear Market The analyst noted that Bitcoin’s price has been trading below the STH cost basis for four months, “marking their longest period of stress so far.”

They added that it was unusual for this cycle and “suggests that the current correction is increasingly resembling a bear market.” During the two previous bear markets, this situation lasted for a little over a year, the analyst cautioned.

Short term holders keep suffering as this correction drags on.

📊 With an STH cost basis of around $94,200 and BTC at $68,000, the price gap has now reached 28%.

So we can roughly estimate an average unrealized loss of about 28% for STHs, if we simplify things.

But that is not… pic.twitter.com/MnLcbAgHCx

— Darkfost (@Darkfost_Coc) February 11, 2026

A “lack of fresh capital” is reinforcing bear conditions, confirmed CryptoQuant on Wednesday, with analysts stating that new investor inflows have flipped negative.

“The sell-off is not being absorbed by fresh capital. In bull markets, drawdowns attract accelerating capital. In early bear markets, weakness triggers withdrawal.”

Analyst ‘Daan Trades Crypto’ said that after holding the .382 Fibonacci retracement temporarily, the price eventually fell through and broke the pattern it had held this cycle.

You may also like: Fragile Optimism in Crypto as ETF Flows Return Extreme FUD Persists on Social Media Despite BTC’s $60K Dip Recovery Miner Offloads $305M Bitcoin as Network Difficulty Sees Sharp Decline “The .618 Fibonacci retracement level has historically always been another important one to watch during larger drawdowns,” he added. This level is currently around $57,800 and could be the next support zone.

Bitfinex analysts were a little more positive, observing that Bitcoin long-term holder supply has turned up after months of distribution, and is now back near 14.3 million BTC.

“If this buildup continues, it supports the view that this is a mid-cycle reset, not a final top,” they said.

Bitcoin long term holder supply has turned up after months of distribution, now back near 14.3M BTC.

In past cycles fresh highs in LTH supply led $BTC by roughly 3–4 months.

If this build up continues, it supports the view that this is a mid cycle reset, not a final top. pic.twitter.com/EJ0Q87vp7d

— Bitfinex (@bitfinex) February 11, 2026

Bitcoin Falls to $66,000 Short term holder loses are even worse with Bitcoin’s collapse back to just under $66,000 in late trading on Wednesday. The asset was trading at $67,200 on Thursday morning in Asia, but the path of least resistance remains down.

Ether failed to hold above the psychological $2,000 level and crashed back to $1,950 on Wednesday, failing to reclaim it at the time of writing. ETH is now trading at March 2025 lows, but it has yet to dip as low as the April 2025 crash.

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Paxful, once one of the largest peer‑to‑peer (P2P) Bitcoin marketplaces, has agreed to pay a $4 million criminal penalty after pleading guilty to multiple federal offenses, the US Department of Justice (DOJ) announced Wednesday. 

The charges include conspiracies to promote illegal prostitution, operate an unlicensed money transmitting business, violate the Bank Secrecy Act, and knowingly transmit funds derived from criminal activity.

Paxful’s Compliance Failures Prosecutors said the company was aware that some customers were using the platform to move proceeds from criminal activity, including fraud schemes and illegal prostitution. 

Among the most significant examples cited was Paxful’s relationship with Backpage, a now‑defunct online classifieds site whose owners admitted in criminal proceedings that it profited from illegal prostitution, including advertisements involving minors. 

The Justice Department stated that between December 2015 and December 2022, Paxful’s collaboration with Backpage and a related copycat site resulted in nearly $17 million worth of Bitcoin being sent from Paxful wallets to those platforms. 

The plea agreement outlines a broader pattern of compliance failures. From July 2015 through June 2019, Paxful and its founders marketed the exchange as not requiring know‑your‑customer (KYC) verification. Customers were allowed to open accounts and conduct transactions without sufficient identity checks. 

The company also provided third parties with anti‑money laundering policies that prosecutors said were not actually implemented or enforced. In addition, Paxful failed to file suspicious activity reports despite being aware of illicit conduct on the platform.

As a result, authorities concluded that the exchange became a vehicle for a range of criminal activity, including prostitution, fraud, romance scams, extortion schemes, hacks attributed to malign state actors, and even the distribution of child sexual abuse material.

Cooperation Earns Reduced Sentence  In determining the resolution, the Department of Justice considered the seriousness of the offenses, which involved processing millions of dollars in illicit transactions. 

While Paxful did not voluntarily disclose the wrongdoing in a timely manner, it received credit for cooperating with investigators, which included gathering and producing extensive documentation, providing updates from its internal investigation, and undertaking significant remedial measures.

Under the plea agreement, Paxful acknowledged that the appropriate criminal penalty under the law would be $112.5 million. However, after conducting an independent financial analysis, the Justice Department determined that the company lacked the ability to pay that amount. As a result, the penalty was reduced to $4 million.

The case has also ensnared company leadership. On July 8, 2024, Paxful co‑founder and former chief technology officer Artur Schaback pleaded guilty to conspiracy to fail to maintain an effective anti‑money laundering program in connection with the same conduct.

The 1-D chart shows the total crypto market cap’s drop below $2.3 trillion on Wednesday. Source: TOTAL on TradingView.com Featured image from OpenArt, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

3 mins mins

No verified evidence of $15M SOL allocation to creditorsThere is no verified evidence that alameda research’s bankruptcy management allocated $15 million worth of Solana (SOL) to creditors. A review of publicly reported actions and coverage shows no court-filed or estate-issued confirmation of that specific figure.

Available reporting instead points to routine estate management steps, such as staking changes, internal wallet consolidation, and approved asset monetization, under the FTX Debtors (FTX Trading Ltd.) umbrella. These actions are consistent with recovery procedures rather than direct creditor distributions.

Why the claim matters for Alameda Research bankruptcyWhether $15 million in SOL was earmarked would speak to how quickly and in what form crypto assets move from estate control toward distributions. Misstating such an allocation can confuse expectations around priority, timing, and valuation for creditor recoveries.

As reported by NullTX, observers have questioned whether creditor repayments are calculated at petition-date USD values from November 2022 rather than current market prices. That distinction materially affects outcomes in crypto-heavy estates.

Internal estate movements, such as unstaking or inter-wallet transfers, do not necessarily imply immediate market selling. They more often indicate liquidity preparation, custody changes, or compliance with court-supervised monetization procedures.

At the time of this writing, SOL trades near $80.66, and supplied metrics flag “Bearish” sentiment with 18.36% volatility. These figures are contextual and do not indicate estate selling pressure or distribution timing on their own.

What confirmed actions indicate about SOL and creditor repaymentsOn-chain movements, unstaking, and internal transfers versus distributionsAccording to AInvest, the estate unstaked approximately 188,000 SOL, described as about $31.5 million at the time, in connection with creditor repayment efforts. Such on-chain movements signal preparation and treasury management, not a completed distribution to individual claimants.

Operationally, unstaking increases flexibility for subsequent sales or swaps under approved procedures. By contrast, a creditor distribution would be memorialized by formal notices and reflected in the bankruptcy claims process.

Token swaps like STG to ZRO within recovery proceduresCoverage also indicates token-for-token operations can occur as part of recovery planning, in addition to sales. This points to a broader toolkit for maximizing value, subject to court oversight and risk controls.

“Alameda Research Executes Monumental $24.29M STG for ZRO Token Swap in Bankruptcy Proceedings,” said BitcoinWorld. The report frames the swap as a bankruptcy-anchored action rather than a retail-facing market trade.

FAQ about Alameda Research bankruptcyHow much SOL does the FTX/Alameda estate currently control, and what recent on-chain movements are confirmed?Exact current holdings were not independently verified here. Public reports note SOL unstaking and internal transfers as part of estate recovery steps.

How will creditors be repaid, based on petition-date USD values or current market prices, and what is the timeline?Coverage indicates petition-date USD valuations are central. Timeline and mechanics remain court-supervised, case-specific, and subject to formal notices.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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A strong set of results and healthy guidance could supercharge this AI stock later this month.

Shares of Nvidia (NVDA +0.86%) have been under pressure over the past three months, shedding almost 2% of their value owing to a variety of factors.

From geopolitical tensions related to the shipments of its chips to China to the sustainability of the huge spending on artificial intelligence (AI) data centers to concerns about AI being in a bubble, investors have found multiple reasons to doubt Nvidia's prospects. However, they seem to be overlooking the remarkable growth that Nvidia has been clocking despite its status as the largest company in the world.

As a result, it won't be surprising to see the stock soaring when it releases another round of terrific results on Feb. 25.

Image source: Nvidia.

Nvidia's growth is anticipated to accelerate this year Nvidia will release its fiscal 2026 fourth-quarter results (for the period ended Jan. 25, 2026) after the market closes on Feb. 25. The company has exceeded consensus earnings estimates in each of the last four quarters, which is impressive considering that it has witnessed headwinds such as restrictions on sales of its chips to Chinese customers.

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Analysts are expecting a 67% increase in Nvidia's revenue for fiscal Q4 to $65.5 billion, almost in line with the company's guidance. Its earnings are expected to jump by 71% from the year-ago period, which seems achievable considering Nvidia's improving product mix and cost-control initiatives. It is worth noting that Nvidia's guidance didn't include any potential sales to Chinese customers.

Looking ahead, analysts forecast Nvidia's earnings growth to accelerate to 63% in fiscal 2027 from 57% last year. The solid growth forecasts for the new fiscal year aren't surprising. Nvidia is on track to launch its next-generation Vera Rubin data center graphics cards this year. These cards are already in full production, as Nvidia pointed out last month.

According to HSBC, Vera Rubin chip systems will carry a premium over the previous-generation Blackwell systems. Given that the Vera Rubin data center chips are expected to reduce AI inference costs by 10 times when compared to Blackwell, it won't be surprising to see sales of these new processors take off.

So, there is a possibility Nvidia will deliver better-than-expected guidance when it releases its results later this month, and that could be enough for the stock to regain its mojo.

Investors may be missing an obvious reason to buy Nvidia stock right now Nvidia stock's recent weakness and the company's impressive growth have made it a no-brainer buy right now. It can be bought at just 24 times forward earnings, a discount to the tech-focused Nasdaq-100 index's forward earnings multiple of 26 (using the index as a proxy for tech stocks).

What's more, analysts are bullish about the stock's prospects over the next year. Nvidia stock has a 12-month median price target of $250, which would be a 35% jump from current levels. However, this semiconductor stock could clock bigger gains given its strong revenue pipeline and the arrival of its new generation of AI processors, which is why it would be a good idea to buy it before Feb. 25 while it trades at attractive levels.

Q4: 2026-02-11 Earnings SummaryEPS of -$1.38 misses by $0.48

 |

Revenue of

$0.00

beats by $0.00

Viking Therapeutics, Inc. (VKTX) Q4 2025 Earnings Call February 11, 2026 4:30 PM EST

Company Participants

Brian Lian - President, CEO & Director
Gregory Zante - Chief Financial Officer
Neil Aubuchon - Chief Commercial Officer

Conference Call Participants

Stephanie Diaz - Vida Strategic Partners, Inc.
Timur Ivannikov - Cantor Fitzgerald & Co., Research Division
Joon Lee - Truist Securities, Inc., Research Division
Hardik Parikh - JPMorgan Chase & Co, Research Division
Tsan-Yu Hsieh - William Blair & Company L.L.C., Research Division
William Wood - B. Riley Securities, Inc., Research Division
Jiale Song - Jefferies LLC, Research Division
Annabel Samimy - Stifel, Nicolaus & Company, Incorporated, Research Division
Biren Amin - Piper Sandler & Co., Research Division
Rohit Bhasin - Morgan Stanley, Research Division
Thomas Smith - Leerink Partners LLC, Research Division
Yale Jen - Laidlaw & Company (UK) Ltd., Research Division
Ryan Deschner - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Welcome to the Viking Therapeutics Fourth Quarter and Full Year 2025 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded today, February 11, 2026.

I would now like to turn the call over to Viking's Manager of Investor Relations, Ms. Stephanie Diaz. Please go ahead, Stephanie.

Stephanie Diaz
Vida Strategic Partners, Inc.

Hello, and thank you all for participating in today's call. Joining me today is Brian Lian, Viking's President and CEO; and Greg Zante, Viking's CFO.

Before we begin, I'd like to caution that comments made during this conference call today, February 11, 2026, will contain forward-looking statements under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements about Viking's expectations regarding its development activities, time lines and milestones. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely, and reported results should not be considered as an indication of future performance.

Toyota logo is seen in this illustration taken July 28, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

CompaniesTOKYO, Feb 12 (Reuters) - A group company of Toyota Motor (7203.T), opens new tab said on Thursday that the tender offer period for its buyout of forklift maker Toyota Industries (6201.T), opens new tab will be extended until March 2 to increase the chances of the bid succeeding.

The deadline was extended from February 12 to give shareholders a fresh opportunity to decide whether to tender, Toyota Asset Preparatory, which is the entity through which the bid is being made, said in a filing.

The Reuters Inside Track newsletter is your essential guide to the biggest events in global sport. Sign up here.

Shares of Toyota Industries rose after the disclosure, briefly rising as high as 20,000 yen, up from around 19,400 yen before. The stock was last up 1.0% at 19,865 yen.

The planned buyout of Toyota Industries, which holds 9% of Toyota Motor and has stakes in a number of other group firms, would strengthen the Toyoda founding family's grip on the automotive conglomerate.

However, the deal has run into staunch and high-profile opposition from U.S. activist investor Elliott Investment Management and others, becoming a test case of governance for Japan's most storied company and for Japan Inc more broadly.

Reporting by Daniel Leussink and Anton Bridge; Editing by Christopher Cushing and Muralikumar Anantharaman

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, /PRNewswire/ -- Tuniu Corporation (NASDAQ:TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it plans to release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, before the market opens on March 5, 2026.

Tuniu's management will hold an earnings conference call at 8:00 am U.S. Eastern Time on March 5, 2026 (9:00 pm Beijing/Hong Kong Time on March 5, 2026).

Listeners may access the call by dialing the following numbers:

US

1-888-346-8982

Hong Kong

852-301-84992

Mainland China

4001-201203

International

1-412-902-4272

Conference ID: Tuniu 4Q 2025 Earnings Conference Call

A telephone replay will be available one hour after the end of the conference call through March 12, 2026. The dial-in details are as follows:

US                    

1-855-669-9658

International

1-412-317-0088

Replay Access Code: 8431671

Additionally, a live and archived webcast of this conference call will be available at http://ir.tuniu.com/.

About Tuniu Corporation

Tuniu (Nasdaq:TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

SOURCE Tuniu Corporation

Robotaxi public operations have commenced with routes between Corniche Road and the Sheikh Zayed Grand Mosque, as well as in Khalifa City, Masdar City, and RabdanExpanded service endorsed by Integrated Transport Centre (ITC) ABU DHABI, United Arab Emirates, Feb. 12, 2026 (GLOBE NEWSWIRE) -- WeRide (NASDAQ: WRD, HKEX: 0800), a global leader in autonomous driving technology, and Uber Technologies, Inc. (NYSE: UBER), have launched the first commercial Robotaxi service in downtown Abu Dhabi – marking the Emirate's first autonomous vehicle (AV) deployment in its city center. With this latest downtown expansion, the WeRide-Uber service now reaches approximately 70% of Abu Dhabi's core areas, with the fleet quadrupling in size since starting operations in December 2024.

The newly expanded service operates across Khalifa City, Masdar City, Rabdan, and routes between Corniche Road and the Sheikh Zayed Grand Mosque, in partnership with the Integrated Transport Centre (ITC). Within the coverage area are major landmarks such as Sheikh Zayed Grand Mosque and popular hotels along Corniche Road, including Grand Hyatt Abu Dhabi Hotel & Residences; InterContinental Abu Dhabi by IHG; Edition Hotel, Abu Dhabi; Emirates Palace Mandarin Oriental Rixos Marina Abu Dhabi; and Radisson Blu Hotel & Resort, Abu Dhabi Corniche.

WeRide's Robotaxi GXR at Grand Mosque, downtown Abu Dhabi

Starting today, riders using the Uber platform and travelling to or from the new areas may be matched with a WeRide Robotaxi GXR through UberX or Uber Comfort, and can also choose to book directly via the dedicated “Autonomous” option on the app. Public commercial operations are now underway with a vehicle specialist on-board, as part of a phased approach towards fully driverless operations. Tawasul Transport, a leading UAE national transport company, is the main fleet operator for WeRide vehicles on the Uber platform, providing fleet management services.

This expansion enhances urban connectivity, improves transport accessibility, and supports the UAE’s broader smart mobility vision. Previously, the service covered about half of Abu Dhabi’s core areas, including Al Reem, Al Maryah, Yas, and Saadiyat, as well as highway routes to and from Zayed International Airport. WeRide now has over 200 Robotaxis in the Middle East.

WeRide's Robotaxi GXR on Corniche Road, downtown Abu Dhabi

The Sheikh Zayed Grand Mosque was named the top attraction in the Middle East in 2025, and a popular tourist destination on the Uber app. The expanded WeRide-Uber Robotaxi service supports Abu Dhabi’s growth as a tourism hub, with hotels across the Emirate receiving 4.8 million guests as of 2024 – a 27% year-on-year increase in international visitors. By connecting this high-demand hotel and tourism corridor with other parts of Abu Dhabi, the service highlights ITC’s confidence in the partners' ability to operate safely in complex urban environments.

This development highlights WeRide and Uber's rapid progress in the UAE, as they work to scale their Middle East operations to thousands of Robotaxis over the coming years. In February 2026, both companies committed to deploy at least 1,200 Robotaxis across the Middle East as soon as 2027, spanning Abu Dhabi, Dubai, and Riyadh.

In November 2025, WeRide and Uber launched the Middle East's first Level 4 fully driverless Robotaxi commercial operations in Abu Dhabi, which started with Yas Island. The launch was enabled by WeRide's Robotaxi securing the world’s first city-level fully driverless Robotaxi permit outside the US in October 2025.

WeRide Robotaxi on Yas Island, Abu Dhabi

WeRide maintains a 4-year first mover advantage in autonomous vehicle deployment in Abu Dhabi, having operated Robotaxis in Abu Dhabi since 2021. In 2023, it became the first company in the UAE to receive a national license covering all types of self-driving vehicles, authorizing autonomous testing and operation on public roads across the country, subject to emirate-level approvals. In December 2024, WeRide and Uber launched their Robotaxi ride-hailing partnership in Abu Dhabi – the largest commercial Robotaxi service outside the US and China.

About WeRide
WeRide is a global leader and a first mover in the autonomous driving industry, as well as the first publicly traded Robotaxi company. Our autonomous vehicles have been tested or operated in over 40 cities across 11 countries. We are also the first and only technology company whose products have received autonomous driving permits in eight markets: China, the UAE, Singapore, France, Switzerland, Saudi Arabia, Belgium, and the US. Empowered by the smart, versatile, cost-effective, and highly adaptable WeRide One platform, WeRide provides autonomous driving products and services from L2 to L4, addressing transportation needs in the mobility, logistics, and sanitation industries. WeRide was named to Fortune's 2025 Change the World and 2025 Future 50 lists.

About Uber
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 72 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Media Contact
[email protected]

Media Contact
[email protected]

Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about WeRide’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in WeRide’s filings with the U.S. Securities and Exchange Commission and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release. WeRide does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Photos accompanying this announcement are available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/94b3f9ca-c8d8-41c5-ba1f-e65fa308dbc1

https://www.globenewswire.com/NewsRoom/AttachmentNg/8232e839-59e5-4a27-b26e-6f9dcaa036bc

https://www.globenewswire.com/NewsRoom/AttachmentNg/358677a8-067c-4a9c-a5e2-60593e7b8d45

Underlying EPS increased by 6% with continued margin expansion and free cash flow generation of 11.3 billion USD

BRUSSELS--(BUSINESS WIRE)--Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD):

Regulated and inside information1

“Beer plays an important role in bringing people together and creating moments of celebration. In 2025, we executed our strategy, made disciplined capital allocation choices and delivered growth within our outlook for the year, even as we navigated a dynamic consumer environment. We exit 2025 with improved momentum and enter 2026 well positioned to engage consumers with our megabrands and an unparalleled lineup of mega platforms. Thank you to our colleagues for their ongoing commitment, hard work and passion for our business.” – Michel Doukeris, CEO, AB InBev

The 2025 Full Year Financial Report is available on our website at www.ab-inbev.com.

Management comments

Continued earnings growth, margin expansion and solid free cash flow generation

In 2025, we continued to execute our strategy with discipline, delivering consistent financial performance while further strengthening the fundamentals of our business. Our teams remained focused on building great brands, operating efficiently and increasing our capital allocation flexibility. Momentum improved across many of our key markets in 4Q25 and we enter 2026 well positioned to engage consumers and accelerate growth.

Beer is a vibrant and resilient category, deeply connected to consumers across social occasions and embedded in culture. While near-term demand in some key markets was impacted by a constrained consumer environment and unseasonable weather, the long-term fundamentals and growth potential of the category remain unchanged. Our brands are iconic, our geographic footprint is advantaged, and our execution capabilities continue to strengthen.

The fundamentals of our business underpinned another year of solid financial performance. Revenue increased by 2.0%, with growth in 65% of our markets. Underlying EPS increased by 6.0% in USD and 9.4% in constant currency, and we maintained our solid free cash flow generation, delivering 11.3 billion USD. Disciplined revenue management and premiumization drove a revenue per hl increase of 4.4% and efficient overhead management supported an EBITDA margin expansion of 101bps.

Our ability to deliver consistent results across varying operating conditions is a testament to the durability of our strategy and the resilience of our business.

Progressing our strategic priorities

Lead and grow the category In FY25, we invested 7.4 billion USD in sales and marketing behind our megabrands, mega platforms and brand building capabilities to lead the long-term growth of the industry. The beer and Beyond Beer category is forecast to continue to gain share of alcohol beverages globally in FY25, with further growth projected over the next 5 years, according to IWSR. We estimate we gained or maintained market share in two thirds of our markets, with our megabrands leading our growth with a 4.1% revenue increase. Our portfolio of brands is unparalleled. We hold 20 iconic billion-dollar revenue beer brands and 8 out of the top 10 most valuable beer brands in the world, with Corona and Budweiser remaining the #1 and #2, according to Kantar BrandZ. In Beyond Beer, we are investing to fuel the momentum behind fast growing brands such as Cutwater, Nutrl, Flying Fish and Brutal Fruit. Our mega platform approach is a core element of how we build brands effectively at scale. Our activations in some of the largest consumer moments such as the Super Bowl, NBA, FIFA Club World Cup, Wimbledon, Roland Garros and Lollapalooza were a key contributor to our portfolio brand power reaching a record high in 2025. Our marketing effectiveness and creativity were recognized by being named the most effective marketer in the world by both Effies and the World Advertising Research Center for the fourth consecutive year.

Driven by performance across each of the category expansion levers and participation gains in Corona, Beyond Beer and our no-alcohol beer brands, we estimate that the number of legal drinking age consumers purchasing our portfolio increased versus FY24.

Core Superiority: Our mainstream beer portfolio accounted for approximately 50% of our FY25 revenue and delivered flattish revenue growth year-on-year, with growth in Africa, Middle Americas and South America offset by a soft industry in Europe and North America. Premiumization: We are the global leader in premium and super premium beer. Our above core beer portfolio accounted for 35% of our FY25 revenue and grew revenue by low-single digits. Corona led our performance, increasing revenue by 8.3% outside of Mexico with double-digit volume growth in 30 markets. In the US, Michelob Ultra was the #1 volume share gainer and is now the leading brand by volume in the industry. In Brazil, our premium and above portfolio continued to gain share and now leads the premium segment. Balanced choices: Growth in FY25 was driven by our no-alcohol beer portfolio which delivered a 34% revenue increase. No-alcohol beer performance was led by Corona Cero which grew volumes by strong double-digits. We are the leader in no-alcohol beer in many of our key markets, including the US, Canada, Brazil, Mexico, Colombia and Belgium, and see significant headroom for future growth. Our overall balanced choices portfolio of low carb, sugar free, gluten free and no-alcohol beer brands delivered a revenue increase of 8.9%. Beyond Beer: The growth of our Beyond Beer portfolio accelerated in FY25, increasing revenue by 23% and now representing 3% of our total revenue. Performance was led by Cutwater in the US, which grew revenue by triple-digits and was the #1 share gaining brand in the total spirits industry in 4Q25, and Brutal Fruit and Flying Fish which were expanded to new markets across Africa, Europe and Latin America. Digitize and monetize our ecosystem We continued to progress our digital transformation by expanding the availability and usage of BEES, accelerating the growth of BEES Marketplace and scaling our digital DTC solutions.
Digitizing our relationships with our more than 6 million customers globally: As of 31 December 2025, BEES was live in 29 markets, with 72% of our revenues captured through B2B digital platforms. In FY25, BEES captured 52.5 billion USD in GMV, growth of 12% versus FY24. Monetizing our route-to-market: The growth of BEES Marketplace GMV accelerated in FY25, increasing by 61% versus FY24 to reach 3.5 billion USD from sales of third-party products. Growth was led by the expansion of the asset-light 3P model from which GMV approximately tripled year-over-year. Leading the way in direct-to-consumer (‘DTC’) solutions: Our DTC ecosystem of digital and physical products generated revenue of 1.3 billion USD this year. Zé Delivery, TaDa Delivery and PerfectDraft generated over 76 million e-commerce orders and delivered 550 million USD of revenue in FY25, growth of 8% versus FY24. Optimize our business
Maximizing value creation: The continued optimization of our business enabled us to increase our sales and marketing investments, strengthen our balance sheet through bond repurchases and redemptions, increase returns to our shareholders, and pursue accretive bolt-on acquisitions. Efficient resource allocation and overhead management more than offset transactional FX headwinds to drive EBITDA margin expansion of 101bps. USD EBITDA growth, balanced net working capital management and lower net finance costs delivered another year of solid free cash flow generation with 11.3 billion USD, consolidating the step-change delivered in FY24.

We continued to proactively manage our debt portfolio with bond repurchases and redemptions of 6 billion USD and issuances of 3.2 billion Euro, strengthening our debt maturity profile while maintaining our average coupon with our net debt to EBITDA ratio reaching 2.87x as of 31 December 2025.

The AB InBev Board of Directors has proposed a final dividend of 1.00 EUR per share, which combined with the interim dividend of 0.15 EUR per share, represents a 15% increase versus FY24, with the ambition to continue a progressive dividend over time. In addition, as of 9 February 2026 we have completed 635 million USD of our 6 billion USD share buyback program announced on 30 October 2025.

Advancing our sustainability priorities: In 2025, we closed the sustainability goals we set in 2018 and we are proud of the goals we achieved and progress made on those we continue to work towards. Since 2017, we reduced our absolute GHG emissions across Scopes 1 and 2 by 44% and GHG emissions intensity across Scopes 1, 2 and 3 by 32%. We increased our percentage of operational renewable electricity by 67 percentage points since 2018 to 84%. In sustainable agriculture, 100% of our direct farmers met our criteria for being skilled, connected and financially empowered. In water stewardship, 100% of sites in scope of our goal recorded measurable improvement in watershed health and our global water use efficiency ratio reached 2.38 hl/hl, a 23% improvement versus our 2017 baseline. For circular packaging, 89.7% of our products were in packaging that was returnable or made from majority recycled content in 2025. Please refer to our Sustainability Statements in our 2025 annual report here for further details, including how our metrics are calculated and the related assumptions.

Delivering reliable compounding growth

A central objective of our strategy is to deliver reliable compounding growth over time. While each year will have unique dynamics, our focus remains on consistent progress across the 3 pillars of our strategy to drive long-term value creation.

Since FY21, we have increased our revenue by 5 billion USD, EBITDA by 2 billion USD and free cash flow by 2 billion USD. Our Underlying EPS has increased by a CAGR of 6.7% in USD. Our financial performance has been consistent, with organic EBITDA growth within or above our medium-term growth outlook in every year. We have been disciplined in our capital allocation choices, reducing net debt by 15.3 billion USD to reach 2.87x net debt to EBITDA, progressively increased our dividend each year, including the payment of an interim dividend in 2025, completed 3.2 billion USD of share buybacks, and are currently executing a further 6 billion USD program.

The consistency of our financial performance is a reflection of our deliberate choices, clear strategic priorities and the unwavering commitment of our people to best-in-class execution.

Looking forward

We remain confident in the long-term potential of the beer category, which has structural tailwinds for growth and plays an important role in bringing people together and creating moments of celebration. The progress we have made in executing our strategy has driven consistent financial performance, increased our capital allocation flexibility and enabled increased returns to our shareholders while continuing to deleverage. We enter 2026 in a position of strength, with a highly engaged team, improved momentum across many of our key markets and with an unparalleled portfolio and lineup of mega platforms. From the Super Bowl to the Winter Olympics to the FIFA World Cup to our partnership with Netflix and, as from 2027, our sponsorship of the UEFA Men's Club Competitions, including the UEFA Champions League, we are uniquely positioned to engage consumers and activate the category. In closing, we would like to thank our colleagues around the world for their hard work, commitment, and passion, which continue to underpin our progress and performance.

2026 Outlook

(i) Overall Performance: We expect our EBITDA to grow in line with our medium-term outlook of between 4-8%. The outlook for FY26 reflects our current assessment of inflation and other macroeconomic conditions.

(ii) Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 190 to 220 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY26 to be approximately 4%.

(iii) Effective Tax Rate (ETR): We expect the normalized ETR in FY26 to be in the range of 26% to 28%. The ETR outlook does not consider the impact of potential future changes in legislation.

(iv) Net Capital Expenditure: We expect net capital expenditure of between 3.5 and 4.0 billion USD in FY26.

Figure 1. Consolidated performance

in USD Mio, except EPS in USD per share and Volumes in thousand hls

4Q24

4Q25

Organic

growth

Volumes

141 829

139 166

(1.5

)%

Beer

121 052

119 039

(1.9

)%

Non-Beer

20 777

20 127

0.6

%

Revenue

14 841

15 555

2.5

%

Gross profit

8 197

8 613

2.5

%

Gross margin

55.2

%

55.4

%

(1)bps

Normalized EBITDA

5 245

5 473

2.3

%

Normalized EBITDA margin

35.3

%

35.2

%

(10)bps

Normalized EBIT

3 824

4 049

4.5

%

Normalized EBIT margin

25.8

%

26.0

%

49bps

Profit attributable to equity holders of AB InBev

1 220

1 959

Underlying Profit

1 770

1 884

Basic EPS

0.61

0.99

Underlying EPS

0.88

0.95

FY24

FY25

Organic

growth

Volumes

575 706

561 100

(2.3

)%

Beer

496 354

484 187

(2.6

)%

Non-Beer

79 352

76 914

(0.4

)%

Revenue

59 768

59 320

2.0

%

Gross profit

33 024

33 179

3.4

%

Gross margin

55.3

%

55.9

%

78bps

Normalized EBITDA

20 958

21 223

4.9

%

Normalized EBITDA margin

35.1

%

35.8

%

101bps

Normalized EBIT

15 462

15 854

7.0

%

Normalized EBIT margin

25.9

%

26.7

%

126bps

Profit attributable to equity holders of AB InBev

5 855

6 837

Underlying Profit

7 061

7 410

Basic EPS

2.92

3.45

Underlying EPS

3.53

3.73

Figure 2. Volumes

in thousand hls

4Q24

Scope

Organic

growth

4Q25

Organic growth

Total

Beer

North America

19 516

(216

)

(681

)

18 619

(3.5

)%

(5.5

)%

Middle Americas

38 907

(300

)

1 065

39 672

2.8

%

2.0

%

South America

44 950

-

(1 791

)

43 160

(4.0

)%

(3.7

)%

EMEA

24 883

(15

)

(619

)

24 249

(2.5

)%

(2.4

)%

Asia Pacific

13 439

1

(106

)

13 334

(0.8

)%

(0.8

)%

Global Export and Holding Companies

135

-

(4

)

131

(2.7

)%

(2.7

)%

AB InBev Worldwide

141 829

(529

)

(2 135

)

139 166

(1.5

)%

(1.9

)%

FY24

Scope

Organic

growth

FY25

Organic growth

Total

Beer

North America

86 272

(961

)

(2 577

)

82 734

(3.0

)%

(3.9

)%

Middle Americas

150 086

(351

)

755

150 490

0.5

%

0.4

%

South America

160 768

-

(5 597

)

155 171

(3.5

)%

(3.8

)%

EMEA

93 804

147

(629

)

93 323

(0.7

)%

(0.7

)%

Asia Pacific

84 397

(91

)

(5 306

)

78 999

(6.3

)%

(6.2

)%

Global Export and Holding Companies

380

(9

)

13

383

3.4

%

3.4

%

AB InBev Worldwide

575 706

(1 265

)

(13 341

)

561 100

(2.3

)%

(2.6

)%

Key Markets Performance

United States: Building momentum and gaining market share in beer and spirits driven by Michelob Ultra and Cutwater

Operating performance: 4Q25: Revenue declined by 1.4% with revenue per hl increasing by 2.6% driven by revenue management and premiumization. Sales-to-retailers (STRs) declined by 3.5%, estimated to have outperformed a soft industry. Sales-to-wholesalers (STWs) declined by 3.9%. EBITDA decreased by 6.2%, impacted by phasing of sales and marketing investments. FY25: Revenue declined by 1.3%, with revenue per hl increasing by 2.0%. STRs declined by 3.2%, estimated to have outperformed the industry. STWs were down by 3.2%. EBITDA margin improved by 29bps, resulting in flattish EBITDA of -0.4% as we increased sales and marketing investments. Commercial highlights: Our market share momentum continued in FY25, with share gains in beer and the spirits-based ready-to-drink category, according to Circana. Our beer performance was led by Michelob Ultra, the leading brand by volume in the industry and the #1 volume share gainer, and Busch Light, which continued to be the #2 volume share gainer in the industry. In Beyond Beer, our portfolio momentum accelerated, with revenue growth in the high-thirties, led by Cutwater which grew revenue in the triple digits and was the #1 share gaining brand in the total spirits industry in 4Q25. We strengthened our leadership position in no-alcohol beer, with our portfolio gaining share and growing revenue by high-twenties. We are leading the industry in innovation, with Michelob Ultra Zero and Busch Light Apple the top 2 innovations in beer in FY25. Consistent execution, market share gains, and productivity initiatives enabled us to offset a soft industry and increase our sales and marketing investments to fuel momentum. Mexico: Market share gain and margin expansion drove mid-single digit top- and bottom-line growth

Operating performance: 4Q25: Revenue increased by mid-single digits, with low-single digit revenue per hl growth driven by revenue management. Our volumes increased by low-single digits, outperforming an improved industry. Disciplined revenue management and productivity initiatives offset transactional FX headwinds to deliver mid-single digit EBITDA growth. FY25: Revenue grew by mid-single digits with revenue per hl growth of mid-single digits and flat volumes, outperforming the industry. EBITDA grew by mid-single digits with margin expansion. Commercial highlights: Our business continued to gain share of the industry in FY25. Our performance was led by our above core beer portfolio, which grew revenue by high-single digits driven by Modelo and Pacifico. We gained share of no-alcohol beer and, as of 3Q25, are the industry leader, with Corona Cero growing volume by strong double-digits. We continue to progress our digital initiatives, with BEES Marketplace growing GMV by 29% versus FY24 and our digital DTC platform, TaDa Delivery, fulfilling 4.2 million orders, a 3% increase versus FY24. Colombia: Record high volume and margin expansion drove double-digit bottom-line growth

Operating performance: 4Q25: Revenue increased by high-single digits with high-single digit revenue per hl growth, driven by revenue management and positive mix. Volumes grew by low-single digits. EBITDA grew by mid-teens with margin expansion driven by disciplined cost management and operational leverage. FY25: Revenue grew by high-single digits with high-single digit revenue per hl growth. Volumes increased by low-single digits, estimated to be in-line with the industry. EBITDA grew by low-teens with margin expansion. Commercial highlights: Driven by the consistent execution of our category expansion levers, the beer industry continued to grow in FY25 with our volumes reaching a new record high. Revenue increased across all price segments of our portfolio, with our above core beer brands leading our performance with mid-teens revenue growth. Brazil: Improved momentum in 4Q25 with market share gain driven by our premium portfolio

Operating performance: 4Q25: Revenue increased by 2.8% with revenue per hl growth of 6.8%, driven by revenue management and premiumization. Beer volumes declined by 2.8%, estimated to have outperformed the industry, with our volumes returning to growth in December as weather conditions normalized. Non-beer volumes decreased by 6.1%, resulting in a total volume decline of 3.7%. EBITDA increased by 5.1% with margin expansion of 78bps. FY25: Revenue grew by 1.0% with revenue per hl growth of 5.4%. Beer volumes declined by 4.6%, estimated to be in-line with the industry which was impacted by unseasonable weather and a soft consumer environment. Non-beer volumes declined by 2.9%, resulting in a total volume decline of 4.1%. EBITDA increased by 6.1% with margin expansion of 165bps as disciplined revenue management and productivity initiatives more than offset transactional FX headwinds. Commercial highlights: Our premium and super premium beer brands led our performance in FY25, delivering high-teens volume growth and estimated to have gained market share to now lead the premium segment. Our mainstream volume trend improved sequentially in 4Q25 as weather conditions normalized, estimated to have gained share of the segment in the quarter. Our portfolio of balanced choices drove incremental growth, with volumes of our no-alcohol beer brands increasing by 30% in FY25. In non-beer, our low- and no-sugar portfolio continued to outperform, delivering mid-twenties volume growth. We continue to progress our digital initiatives, with BEES Marketplace growing GMV by 78% versus FY24, and our digital DTC platform, Zé Delivery, generating approximately 67 million orders. Europe: Continued market share gains and premiumization partially offset a soft industry

Operating performance: 4Q25: Revenue declined by high single digits with a revenue per hl decrease of low-single digits, impacted by phasing of promotional activities and negative channel mix. Volumes declined by high-single digits, as estimated market share gains in the majority of our key markets were offset by a soft industry and October shipment phasing. EBITDA declined by mid-twenties impacted by top-line performance and increased sales and marketing investments ahead of the Milano Cortina 2026 Winter Olympics. FY25: Revenue declined by low-single digits with flattish revenue per hl. Volumes declined by low-single digits, estimated to have gained market share in 5 of our 6 of our key markets. EBITDA declined by low-single digits with flat EBITDA margin. Commercial highlights: The beer category was estimated to have gained share of alcohol beverages across our key markets in FY25. We continued to premiumize our portfolio and increase our overall brand power, with our premium and super premium brands making up approximately 61% of our FY25 revenue. Our performance this year was driven by our megabrands, led by Corona, which delivered mid-single digit volume growth, and Stella Artois. We successfully completed the integration of San Miguel into our UK portfolio, becoming the leading brewer in the UK. Led by Corona Cero, the momentum of our no-alcohol beer portfolio continued, delivering mid-twenties volume growth and gaining share in key markets such as the Netherlands, France and Italy. South Africa: Continued momentum and market share gain delivered mid-single digit top- and bottom-line growth

Operating performance: 4Q25: Revenue increased by mid-single digits with revenue per hl growth of mid-single digits, driven by revenue management and premiumization. Volumes grew by low-single digits, estimated to be in-line with the beer and Beyond Beer industry. EBITDA grew by low-single digits. FY25: Revenue increased by mid-single digits with revenue per hl growth of low-single digits. Volumes grew by low-single digits, estimated to have outperformed the industry in both beer and Beyond Beer. EBITDA grew by mid-single digits. Commercial highlights: Both the beer and Beyond Beer categories continued to grow and gain share of alcohol beverages this year according to our estimates. The momentum of our business continued, with focused investments in our megabrands increasing the brand power of our portfolio. Our performance was led by our premium and super premium beer brands, which grew volumes by mid-teens. In Beyond Beer, our portfolio grew volumes by high-single digits led by Flying Fish and our spirits-based RTD innovations. China: Top- and bottom-line declined, impacted by volume performance

Operating performance: 4Q25: Volumes declined by 3.9%, estimated to be in-line with a soft industry which was impacted by shipment phasing from a later Chinese New Year. Revenue per hl declined by 7.7%, driven by increased investments to expand our in-home presence, resulting in a revenue decline of 11.3%. EBITDA declined by 38.7%, impacted by top-line performance. FY25: Volumes declined by 8.6%. Revenue per hl decreased by 3.0% resulting in a revenue decline of 11.3%. EBITDA declined by 14.7%. Commercial highlights: The beer industry showed signs of stabilization in FY25 with volumes estimated to have declined by low-single digits. Our FY25 results in China were below our potential as we adjusted inventory levels to better reflect the channel and geographic shifts in the industry and worked towards better positioning our business to participate in the growth areas. In 4Q25, we estimate our market share trend improved to be flat versus 4Q24, driven by improvements in Budweiser brand power and in-home channel performance. As we move forward, we are focused on rebuilding momentum and reigniting growth. To achieve this, we will continue to invest in our portfolio, innovation and mega platform activations, enhancing our route to market in the in-home channel, and expanding our footprint through targeted geographic expansion. In FY25, we expanded innovations in brands, such as the national rollout of Budweiser Magnum, and in packaging, such as the launch of the 1 liter can and the Corona full-open lid can. Highlights from our other markets

Canada: Revenue and revenue per hl increased by low-single digits in both 4Q25 and FY25. Our volumes were estimated to have outperformed the industry in beer and Beyond Beer, declining by low-single digits in both 4Q25 and FY25. Our beer performance was led by Busch and Michelob Ultra which were the top two share gainers in the industry in FY25. Beyond Beer growth was led by Cutwater and Mike’s Hard Lemonade which were both in the top five share gainers in the category. Peru: Revenue grew by mid-single digits in 4Q25 with low-single digit revenue per hl growth. Volumes grew by mid-single digits. In FY25, revenue increased by mid-single digits with mid-single digit revenue per hl growth. Volumes increased by low-single digits, with our performance led by our above core beer portfolio which grew volume by low-teens. Ecuador: Revenue grew by mid-single digits in both 4Q25 and FY25 with performance led by our above core beer brands which grew revenues by double-digits in both the quarter and full year. Volumes increased by high-single digits in 4Q25 and by low-single digits in FY25. Argentina: Volume declined by mid-single digits in 4Q25 and FY25, estimated to have underperformed the industry, as overall consumer demand continued to be impacted by inflationary pressures. Since 1Q24, the definition of organic revenue growth in Argentina has been amended to cap the price growth to a maximum of 2% per month. Revenue grew by high-single digits in 4Q25 and by mid-teens in FY25 on this basis. Africa excluding South Africa: In Nigeria, revenue was flattish in 4Q25 and increased by mid-twenties in FY25, driven by revenue management in a highly inflationary environment. Beer volumes declined by mid-teens in 4Q25 and FY25, impacted by a soft industry.
In our other markets in Africa, revenue grew in aggregate by low-teens and volumes by low-single digits in both 4Q25 and FY25. Performance was led by growth in Mozambique, Tanzania and Uganda, with our businesses in Mozambique and Zambia reaching their highest market share in the last five years. South Korea: Revenue was flattish in 4Q25 with mid-single digit revenue per hl growth driven by revenue management. Volumes declined by mid-single digits in 4Q25 and by low-single digits in FY25, estimated to have outperformed a soft industry in both the quarter and full year. Revenue increased by low-single digits in FY25 with low-single digit revenue per hl growth. Consolidated Income Statement

Figure 3. Consolidated income statement

in USD Mio

4Q24

4Q25

Organic

growth

Revenue

14 841

15 555

2.5

%

Cost of sales

(6 645

)

(6 943

)

(2.6

)%

Gross profit

8 197

8 613

2.5

%

SG&A

(4 603

)

(4 786

)

(1.2

)%

Other operating income/(expenses)

231

223

10.5

%

Normalized EBIT

3 824

4 049

4.5

%

Non-underlying items above EBIT

269

(410

)

Net finance income/(expense)

(958

)

(1 070

)

Non-underlying net finance income/(expense)

(701

)

395

Share of results of associates

103

133

Non-underlying share of results of associates

-

-

Income tax expense

(848

)

(720

)

Profit

1 691

2 377

Profit attributable to non-controlling interest

471

418

Profit attributable to equity holders of AB InBev

1 220

1 959

  Normalized EBITDA

5 245

5 473

2.3

%

Underlying Profit

1 770

1 884

FY24

FY25

Organic

growth

Revenue

59 768

59 320

2.0

%

Cost of sales

(26 744

)

(26 141

)

(0.2

)%

Gross profit

33 024

33 179

3.4

%

SG&A

(18 341

)

(18 133

)

(0.7

)%

Other operating income/(expenses)

779

808

10.6

%

Normalized EBIT

15 462

15 854

7.0

%

Non-underlying items above EBIT

25

(449

)

Net finance income/(expense)

(4 358

)

(4 280

)

Non-underlying net finance income/(expense)

(995

)

(185

)

Share of results of associates

329

378

Non-underlying share of results of associates

104

9

Income tax expense

(3 152

)

(2 850

)

Profit

7 416

8 477

Profit attributable to non-controlling interest

1 561

1 640

Profit attributable to equity holders of AB InBev

5 855

6 837

  Normalized EBITDA

20 958

21 223

4.9

%

Underlying Profit

7 061

7 410

Non-underlying items above EBIT & Non-underlying share of results of associates

Figure 4. Non-underlying items above EBIT & Non-underlying share of results of associates

in USD Mio

4Q24

4Q25

FY24

FY25

Restructuring

(60

)

(48

)

(156

)

(116

)

Business and asset disposals (including impairment losses)

329

(322

)

181

(274

)

Claims and legal costs

-

(35

)

-

(53

)

Acquisition-related costs (business combinations)

-

(5

)

-

(5

)

Non-underlying items in EBIT

269

(410

)

25

(449

)

Non-underlying share of results of associates

-

-

104

9

Normalized EBIT excludes negative non-underlying items of 410 million USD in 4Q25 and 449 million USD in FY25.

Business and asset disposals (including impairment losses) for FY25 mainly comprised a loss of 214 million USD related to the planned sale of the Newark brewery and the closure of two other breweries in the United States and 60 million USD net loss related to the disposal of assets held for sale in Barbados and other Caribbean islands and the sale and impairment of non-core assets.

Non-underlying share of results from associates of FY24 included the impact from our associate Anadolu Efes’ adoption of IAS 29 hyperinflation accounting on their 2023 results.

Net finance income/(expense)

Figure 5. Net finance income/(expense)

in USD Mio

4Q24

4Q25

FY24

FY25

Net interest expense

(620

)

(607

)

(2 704

)

(2 566

)

Accretion expense and interest on pensions

(199

)

(241

)

(811

)

(821

)

Other financial results

(139

)

(221

)

(843

)

(893

)

Net finance income/(expense)

(958

)

(1 070

)

(4 358

)

(4 280

)

Non-underlying net finance income/(expense)

Figure 6. Non-underlying net finance income/(expense)

in USD Mio

4Q24

4Q25

FY24

FY25

Mark-to-market

(940

)

395

(1 211

)

(213

)

Gain/(loss) on bond redemption and other

239

-

216

28

Non-underlying net finance income/(expense)

(701

)

395

(995

)

(185

)

Non-underlying net finance expense in FY25 includes mark-to-market losses on derivative instruments entered into in order to hedge our share-based payment programs and shares issued in relation to the combination with Grupo Modelo and SAB.

The number of shares covered by the hedging of our share-based payment program, the deferred share instrument and the restricted shares are shown below, together with the opening and closing share prices.

Figure 7. Non-underlying equity derivative instruments

4Q24

4Q25

FY24

FY25

Share price at the start of the period (Euro)

59.38

50.80

58.42

48.25

Share price at the end of the period (Euro)

48.25

54.90

48.25

54.90

Number of equity derivative instruments at the end of the period (in million)

100.5

100.5

100.5

100.5

Income tax expense

Figure 8. Income tax expense

in USD Mio

4Q24

4Q25

FY24

FY25

Income tax expense

848

720

3 152

2 850

Effective tax rate

34.8%

24.3%

31.1%

26.1%

Normalized effective tax rate

26.4%

27.5%

26.5%

26.0%

The 4Q24, FY24 and FY25 effective tax rates were negatively impacted by non-deductible losses from derivatives related to the hedging of share-based payment programs and of the shares issued in a transaction related to the combinations with Grupo Modelo and SAB, while the 4Q25 effective tax rate was positively impacted by non-taxable gains from these derivatives.

Furthermore, the FY25 effective tax rate included 156 million USD of non-underlying tax income, while the FY24 effective tax rate included 205 million USD of non-underlying tax expense. The difference in Normalized ETR in 4Q25 and FY25 compared to 4Q24 and FY24 was primarily due to country mix.

Underlying EPS

Figure 9. Underlying EPS

in USD per share, except number of shares in million

4Q24

4Q25

FY24

FY25

Normalized EBITDA

2.62

2.76

10.46

10.70

Depreciation, amortization and impairment

(0.71

)

(0.72

)

(2.74

)

(2.71

)

Normalized EBIT

1.91

2.04

7.72

7.99

Net finance income/(expense)

(0.48

)

(0.54

)

(2.18

)

(2.16

)

Income tax expense

(0.38

)

(0.41

)

(1.47

)

(1.52

)

Associates & non-controlling interests

(0.18

)

(0.15

)

(0.62

)

(0.62

)

Hyperinflation impacts

0.02

0.01

0.07

0.04

Underlying EPS

0.88

0.95

3.53

3.73

Weighted average number of ordinary and restricted shares

2 003

1 984

2 003

1 984

Reconciliation of IFRS and Non-IFRS Financial Measures

Profit attributable to equity holders and Underlying Profit

Figure 10. Underlying Profit

in USD Mio

4Q24

4Q25

FY24

FY25

Profit attributable to equity holders of AB InBev

1 220

1 959

5 855

6 837

Net impact of non-underlying items on profit

520

(94

)

1 062

499

Hyperinflation impacts

31

20

145

74

Underlying Profit

1 770

1 884

7 061

7 410

Basic and Underlying EPS

Figure 11. Basic and Underlying EPS

in USD per share, except number of shares in million

4Q24

4Q25

FY24

FY25

Basic EPS

0.61

0.99

2.92

3.45

Net impact of non-underlying items

0.26

(0.05

)

0.53

0.25

Hyperinflation impacts

0.02

0.01

0.07

0.04

Underlying EPS

0.88

0.95

3.53

3.73

FX translation impact

-

(0.05

)

-

0.13

Underlying EPS in constant currency

0.88

0.90

3.53

3.86

Weighted average number of ordinary and restricted shares

2 003

1 984

2 003

1 984

Profit attributable to equity holders and Normalized EBITDA

Figure 12. Reconciliation of Normalized EBITDA to Profit attributable to equity holders of AB InBev

in USD Mio

4Q24

4Q25

FY24

FY25

Profit attributable to equity holders of AB InBev

1 220

1 959

5 855

6 837

Non-controlling interests

471

418

1 561

1 640

Profit

1 691

2 377

7 416

8 477

Income tax expense

848

720

3 152

2 850

Share of result of associates

(103

)

(133

)

(329

)

(378

)

Non-underlying share of results of associates

-

-

(104

)

(9

)

Net finance (income)/expense

958

1 070

4 358

4 280

Non-underlying net finance (income)/expense

701

(395

)

995

185

Non-underlying items above EBIT (incl. impairment losses)

(269

)

410

(25

)

449

Normalized EBIT

3 824

4 049

15 462

15 854

Depreciation, amortization and impairment

1 421

1 424

5 496

5 369

Normalized EBITDA

5 245

5 473

20 958

21 223

Normalized EBITDA, Normalized EBIT and Underlying Profit are non-IFRS financial measures used by AB InBev to reflect the company’s underlying performance. Underlying EPS and constant currency Underlying EPS are non-IFRS financial measures that AB InBev believes are useful to investors because they facilitate comparisons of EPS from period to period.

Normalized EBITDA is calculated by adjusting profit attributable to equity holders of AB InBev to exclude: (i) non-controlling interest; (ii) income tax expense; (iii) share of results of associates; (iv) non-underlying share of results of associates; (v) net finance income or cost; (vi) non-underlying net finance income or cost; (vii) non-underlying items above EBIT; and (viii) depreciation, amortization and impairment.

Underlying Profit is calculated by adjusting profit attributable to equity holders of AB InBev to exclude: (i) non-underlying items and (ii) hyperinflation impacts. Underlying EPS is calculated as Underlying Profit divided by the weighted average number of ordinary and restricted shares. Constant currency Underlying EPS is calculated as Underlying EPS excluding the effects of foreign currency translation by translating current period figures using the exchange rates from the same period in the prior year.

Normalized EBITDA, Normalized EBIT and Underlying Profit are not accounting measures under IFRS and should not be considered as an alternative to profit attributable to equity holders as a measure of operational performance, or an alternative to cash flow as a measure of liquidity. Underlying EPS and constant currency Underlying EPS are not accounting measures under IFRS and should not be considered as alternatives to earnings per share as a measure of operating performance on a per share basis. These non-IFRS financial measures do not have a standard calculation method and AB InBev’s definition of Normalized EBITDA, Normalized EBIT, Underlying Profit, Underlying EPS and constant currency Underlying EPS may not be comparable to that of other companies.

Cash Flows and Financial position

Figure 13. Cash Flow Statement (million USD)

FY24

FY25

Operating activities

Profit of the period

7 416

8 477

Interest, taxes and non-cash items included in profit

13 990

13 160

Cash flow from operating activities before changes in working capital and use of provisions

21 406

21 637

Change in working capital

(22

)

(398

)

Pension contributions and use of provisions

(374

)

(426

)

Interest and taxes (paid)/received

(6 189

)

(6 126

)

Dividends received

234

195

Cash flow from/(used in) operating activities

15 055

14 883

Investing activities

Net capex

(3 735

)

(3 552

)

Sale/(acquisition) of subsidiaries, net of cash

(46

)

18

Net proceeds from sale/(acquisition) of other assets

523

98

Cash flow from/(used in) investing activities

(3 259

)

(3 436

)

Financing activities

Net (repayments of) / proceeds from borrowings

(3 830

)

(2 460

)

Dividends paid

(2 672

)

(4 543

)

Share buyback

(937

)

(2 301

)

Payment of lease liabilities

(787

)

(733

)

Derivative financial instruments

(431

)

(206

)

Sale/(acquisition) of non-controlling interests

(435

)

(323

)

Other financing cash flows

(763

)

(883

)

Cash flow from/(used in) financing activities

(9 854

)

(11 450

)

Net increase/(decrease) in cash and cash equivalents

1 942

(3

)

Our free cash flow (defined as cash flow from operating activities less net capex) amounted to 11 331 million USD in FY25, in-line with FY24. Our cash and cash equivalents decreased by 3 million USD in FY25, compared to an increase of 1 942 million USD in FY24, with the following movements:

Our cash flow from operating activities reached 14 883 million USD in FY25 compared to 15 055 million USD in FY24. The decrease was driven primarily by working capital movements. Our cash outflow from investing activities was 3 436 million USD in FY25 compared to a cash outflow of 3 259 million USD in FY24, with FY24 positively impacted by proceeds from the sale of our share in associate Ghost Beverages LLC. Out of the total FY25 capital expenditures, approximately 26% was used to improve the company’s production facilities while 50% was used for logistics and commercial investments and 24% was used for improving administrative capabilities and for the purchase of hardware and software. Our cash outflow from financing activities amounted to 11 450 million USD in FY25, as compared to a cash outflow of 9 854 million USD in FY24. The increase in the cash outflow versus FY24 was primarily driven by higher dividends paid, and increased cash outflow for share buybacks. Our net debt increased to 60.9 billion USD as of 31 December 2025 from 60.6 billion USD as of 31 December 2024. Our net debt to normalized EBITDA ratio was 2.87x as of 31 December 2025. Our optimal capital structure is a net debt to normalized EBITDA ratio of around 2x.

We continue to proactively manage our debt portfolio. After bond repurchases and redemptions of 6 billion USD and issuances of 3.2 billion Euro in FY25, 98% of our bond portfolio holds a fixed-interest rate, 51% is denominated in currencies other than USD and maturities are well-distributed across the next several years.

As of 31 December 2025, we had total liquidity of 22.0 billion USD, which consisted of 11.9 billion USD of cash, cash equivalents and short-term investments in debt securities less bank overdrafts and 10.1 billion USD available under committed long-term credit facilities.

Proposed final dividend for the fiscal year 2025

The AB InBev Board of Directors proposes a final dividend of 1.00 EUR per share, subject to approval by the General Meeting of Shareholders to be held on 29 April 2026. In line with the Company’s financial discipline and deleveraging objectives, the proposed final dividend balances the Company’s capital allocation priorities and dividend policy while returning cash to shareholders. A timeline showing the ex-dividend, record and payment dates can be found below:

Dividend timeline

Ex-dividend date

Record Date

Payment date

Euronext

7 May 2026

8 May 2026

11 May 2026

MEXBOL

7 May 2026

8 May 2026

11 May 2026

JSE

6 May 2026

8 May 2026

11 May 2026

NYSE (ADR program)

8 May 2026

8 May 2026

5 June 2026

Restricted Shares

7 May 2026

8 May 2026

11 May 2026

Recent Events

Re-acquisition of minority stake in US-based Metal Container Plants

On 30 January 2026, AB InBev announced the completion of the re-acquisition of the 49.9% minority stake in AB InBev’s US-based metal container plants from a consortium of institutional investors led and/or advised by affiliates of Apollo Global Management, Inc. (NYSE: APO) for approximately 2.9 billion USD. AB InBev previously announced it had exercised its right to reacquire this minority stake in a Press Release dated January 6th.

Notes

To facilitate the understanding of AB InBev’s underlying performance, the analyses of growth, including all comments in this press release, unless otherwise indicated, are based on organic growth and normalized numbers. In other words, financials are analyzed eliminating the impact of changes in currencies on translation of foreign operations, and scope changes. Since 1Q24, the definition of organic revenue growth has been amended to cap the price growth in Argentina to a maximum of 2% per month (26.8% year-over-year). Corresponding adjustments are made to all income statement related items in the organic growth calculations through scope changes. Scope changes also represent the impact of acquisitions and divestitures, the start or termination of activities or the transfer of activities between segments, curtailment gains and losses and year over year changes in accounting estimates and other assumptions that management does not consider as part of the underlying performance of the business. The organic growth of our global brands, Budweiser, Stella Artois, and Corona excludes exports to Australia for which a perpetual license was granted to a third party upon disposal of the Australia operations in 2020. All references per hectoliter (per hl) exclude US non-beverage activities. Whenever presented in this document, all performance measures (EBITDA, EBIT, profit, tax rate, EPS) are presented on a “normalized” basis, which means they are presented before non-underlying items. Non-underlying items are either income or expenses which do not occur regularly as part of the normal activities of the Company. They are presented separately because they are important for the understanding of the underlying sustainable performance of the Company due to their size or nature. Normalized measures are additional measures used by management and should not replace the measures determined in accordance with IFRS as an indicator of the Company’s performance. We are reporting the results from Argentina applying hyperinflation accounting since 3Q18. The IFRS rules (IAS 29) require us to restate the year-to-date results for the change in the general purchasing power of the local currency, using official indices before converting the local amounts at the closing rate of the period. In FY25, we reported a negative impact from hyperinflation accounting on the profit attributable to equity holders of AB InBev of 74 million USD. The impact in FY25 Basic EPS was (0.04) USD. Values in the figures and annexes may not add up, due to rounding. 4Q25 and FY25 EPS is based upon a weighted average of 1 984 million shares compared to a weighted average of 2 003 million shares for 4Q24 and FY24.

Legal disclaimer

This release contains “forward-looking statements”. These statements are based on the current expectations and views of future events and developments of the management of AB InBev and are naturally subject to uncertainty and changes in circumstances. The forward-looking statements contained in this release include statements other than historical facts and include statements typically containing words such as “will”, “may”, “should”, “believe”, “intends”, “expects”, “anticipates”, “targets”, “ambition”, “estimates”, “likely”, “foresees” and words of similar import. All statements other than statements of historical facts are forward-looking statements. You should not place undue reliance on these forward-looking statements, which reflect the current views of the management of AB InBev, are subject to numerous risks and uncertainties about AB InBev and are dependent on many factors, some of which are outside of AB InBev’s control. There are important factors, risks and uncertainties that could cause actual outcomes and results to be materially different, including, but not limited to the risks and uncertainties relating to AB InBev that are described under Item 3.D of AB InBev’s Annual Report on Form 20-F filed with the SEC on 12 March 2025. Many of these risks and uncertainties are, and will be, exacerbated by any further worsening of the global business and economic environment, including as a result of foreign currency exchange rate fluctuations and ongoing geopolitical instability. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including AB InBev’s most recent Form 20-F and other reports furnished on Form 6-K, and any other documents that AB InBev has made public. Any forward-looking statements made in this communication are qualified in their entirety by these cautionary statements and there can be no assurance that the actual results or developments anticipated by AB InBev will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, AB InBev or its business or operations. Except as required by law, AB InBev undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The full year 2025 (FY25) financial data set out in Figure 1 (except for the volume information), Figures 3 to 6, 8, 10, 12 and 13 of this press release have been extracted from the group’s audited consolidated financial statements as of and for the twelve months ended 31 December 2025, which have been audited by our statutory auditors PwC Bedrijfsrevisoren BV/Réviseurs d’Entreprises SRL. The fourth quarter 2025 (4Q25) financial data set out in Figure 1 (except for the volume information), Figures 3 to 6, 8, 10 and 12, and the financial data included in Figures 7, 9, 11 and 14 of this press release have been extracted from the underlying accounting records as of and for the twelve months ended 31 December 2025. References in this document to materials on our websites, such as www.ab-inbev.com, are included as an aid to their location and are not incorporated by reference into this document.

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About AB InBev

Anheuser-Busch InBev (AB InBev) is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). As a company, we dream big to create a future with more cheers. We are always looking to serve up new ways to meet life’s moments, move our industry forward and make a meaningful impact in the world. We are committed to building great brands that stand the test of time and to brewing the best beers using the finest ingredients. Beer is the drink for moderation, and for over a century, AB InBev has championed responsible drinking. We are committed to providing our consumers with balanced choices to enjoy on any occasion. We also invest in marketing that aims to reinforce positive behaviors, and we work with communities, customers, and partners to promote responsible consumption through evidence-based initiatives.

Our diverse portfolio of well over 400 beer brands includes global brands Budweiser®, Corona®, Stella Artois® and Michelob Ultra®; multi-country brands Beck’s®, Hoegaarden® and Leffe®; and local champions such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Castle®, Castle Lite®, Cristal®, Harbin®, Jupiler®, Modelo Especial®, Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage dates back more than 600 years, spanning continents and generations. From our European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the first brewery in Brazil. Geographically diversified with a balanced exposure to developed and developing markets, we leverage the collective strengths of approximately 137 000 colleagues based in more than 40 countries worldwide. For 2025, AB InBev’s reported revenue was 59.3 billion USD (excluding JVs and associates).

Annex 1: Segment reporting (4Q)

AB InBev Worldwide

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

141 829

(529

)

-

(2 135

)

139 166

(1.5

)%

Revenue

14 841

(100

)

441

373

15 555

2.5

%

Cost of sales

(6 645

)

44

(173

)

(168

)

(6 943

)

(2.6

)%

Gross profit

8 197

(56

)

267

204

8 613

2.5

%

SG&A

(4 603

)

(7

)

(121

)

(55

)

(4 786

)

(1.2

)%

Other operating income/(expenses)

231

(40

)

12

19

223

10.5

%

Normalized EBIT

3 824

(103

)

158

169

4 049

4.5

%

Normalized EBITDA

5 245

(94

)

206

116

5 473

2.3

%

Normalized EBITDA margin

35.3

%

35.2

%

(10)bps

North America

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

19 516

(216

)

-

(681

)

18 619

(3.5

)%

Revenue

3 331

(59

)

(6

)

(31

)

3 235

(1.0

)%

Cost of sales

(1 483

)

46

2

20

(1 416

)

1.4

%

Gross profit

1 848

(12

)

(4

)

(12

)

1 819

(0.6

)%

SG&A

(1 078

)

(1

)

2

(35

)

(1 112

)

(3.2

)%

Other operating income/(expenses)

8

-

0

3

12

42.4

%

Normalized EBIT

777

(14

)

(2

)

(43

)

719

(5.6

)%

Normalized EBITDA

969

(12

)

(2

)

(49

)

906

(5.1

)%

Normalized EBITDA margin

29.1

%

28.0

%

(122)bps

Middle Americas

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

38 907

(300

)

-

1 065

39 672

2.8

%

Revenue

4 395

(34

)

307

259

4 927

5.9

%

Cost of sales

(1 601

)

8

(101

)

(63

)

(1 757

)

(4.0

)%

Gross profit

2 794

(26

)

206

195

3 170

7.0

%

SG&A

(975

)

10

(71

)

(10

)

(1 045

)

(1.1

)%

Other operating income/(expenses)

8

0

0

(3

)

6

(35.2

)%

Normalized EBIT

1 828

(15

)

136

182

2 130

10.0

%

Normalized EBITDA

2 227

(16

)

159

138

2 508

6.2

%

Normalized EBITDA margin

50.7

%

50.9

%

13bps

  South America

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

44 950

-

-

(1 791

)

43 160

(4.0

)%

Revenue

3 473

(40

)

36

175

3 645

5.0

%

Cost of sales

(1 558

)

24

(18

)

(160

)

(1 711

)

(10.3

)%

Gross profit

1 915

(15

)

19

15

1 934

0.8

%

SG&A

(992

)

(17

)

(18

)

25

(1 002

)

2.5

%

Other operating income/(expenses)

133

(42

)

9

25

124

31.3

%

Normalized EBIT

1 056

(75

)

10

65

1 056

6.7

%

Normalized EBITDA

1 310

(64

)

17

58

1 321

4.7

%

Normalized EBITDA margin

37.7

%

36.2

%

(12)bps

EMEA

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

24 883

(15

)

-

(619

)

24 249

(2.5

)%

Revenue

2 424

(29

)

123

6

2 524

0.2

%

Cost of sales

(1 276

)

13

(66

)

21

(1 308

)

1.6

%

Gross profit

1 149

(16

)

57

26

1 216

2.3

%

SG&A

(708

)

9

(36

)

(20

)

(755

)

(2.9

)%

Other operating income/(expenses)

51

3

3

18

75

33.0

%

Normalized EBIT

493

(5

)

24

24

536

5.0

%

Normalized EBITDA

776

2

40

(2

)

815

(0.3

)%

Normalized EBITDA margin

32.0

%

32.3

%

(17)bps

Asia Pacific

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

13 439

1

-

(106

)

13 334

(0.8

)%

Revenue

1 122

0

(21

)

(48

)

1 053

(4.3

)%

Cost of sales

(589

)

(2

)

10

14

(567

)

2.3

%

Gross profit

533

(2

)

(11

)

(35

)

486

(6.5

)%

SG&A

(484

)

(0

)

9

18

(457

)

3.8

%

Other operating income/(expenses)

33

-

-

(21

)

13

(62.5

)%

Normalized EBIT

83

(2

)

(2

)

(37

)

42

(45.7

)%

Normalized EBITDA

244

1

(3

)

(49

)

192

(19.9

)%

Normalized EBITDA margin

21.7

%

18.3

%

(356)bps

Global Export and Holding Companies

4Q24

Scope

Currency

Translation

Organic

Growth

4Q25

Organic

Growth

Volumes

135

-

-

(4

)

131

(2.7

)%

Revenue

95

62

1

13

172

14.0

%

Cost of sales

(138

)

(46

)

(1

)

1

(183

)

0.9

%

Gross profit

(42

)

16

1

15

(12

)

34.3

%

SG&A

(367

)

(7

)

(8

)

(33

)

(415

)

(9.5

)%

Other operating income/(expenses)

(3

)

(0

)

(1

)

(4

)

(7

)

-

Normalized EBIT

(412

)

8

(8

)

(22

)

(434

)

(5.6

)%

Normalized EBITDA

(281

)

(4

)

(4

)

21

(269

)

7.6

%

Annex 2: Segment reporting (FY)

AB InBev Worldwide

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

575 706

(1 265

)

-

(13 341

)

561 100

(2.3

)%

Revenue

59 768

(290

)

(1 336

)

1 178

59 320

2.0

%

Cost of sales

(26 744

)

38

619

(54

)

(26 141

)

(0.2

)%

Gross profit

33 024

(251

)

(717

)

1 123

33 179

3.4

%

SG&A

(18 341

)

(42

)

383

(133

)

(18 133

)

(0.7

)%

Other operating income/(expenses)

779

(34

)

(13

)

77

808

10.6

%

Normalized EBIT

15 462

(328

)

(347

)

1 067

15 854

7.0

%

Normalized EBITDA

20 958

(319

)

(441

)

1 026

21 223

4.9

%

Normalized EBITDA margin

35.1

%

35.8

%

101bps

  North America

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

86 272

(961

)

-

(2 577

)

82 734

(3.0

)%

Revenue

14 655

(259

)

(46

)

(142

)

14 207

(1.0

)%

Cost of sales

(6 236

)

193

16

164

(5 863

)

2.7

%

Gross profit

8 419

(66

)

(31

)

21

8 345

0.3

%

SG&A

(4 358

)

(30

)

16

(35

)

(4 407

)

(0.8

)%

Other operating income/(expenses)

7

-

2

29

38

-

Normalized EBIT

4 069

(95

)

(13

)

15

3 975

0.4

%

Normalized EBITDA

4 791

(94

)

(16

)

6

4 687

0.1

%

Normalized EBITDA margin

32.7

%

33.0

%

37bps

  Middle Americas

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

150 086

(351

)

-

755

150 490

0.5

%

Revenue

17 072

(53

)

(451

)

807

17 376

4.7

%

Cost of sales

(6 242

)

(24

)

162

(46

)

(6 151

)

(0.7

)%

Gross profit

10 830

(77

)

(289

)

761

11 225

7.1

%

SG&A

(3 976

)

(0

)

108

(36

)

(3 904

)

(0.9

)%

Other operating income/(expenses)

34

0

(1

)

(13

)

21

(36.4

)%

Normalized EBIT

6 889

(77

)

(182

)

712

7 342

10.4

%

Normalized EBITDA

8 400

(79

)

(224

)

588

8 685

7.0

%

Normalized EBITDA margin

49.2

%

50.0

%

108bps

  South America

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

160 768

-

-

(5 597

)

155 171

(3.5

)%

Revenue

12 423

(80

)

(999

)

610

11 954

4.9

%

Cost of sales

(6 073

)

(46

)

531

(300

)

(5 888

)

(4.9

)%

Gross profit

6 350

(126

)

(468

)

310

6 066

4.9

%

SG&A

(3 779

)

(33

)

317

(60

)

(3 555

)

(1.6

)%

Other operating income/(expenses)

452

(51

)

(19

)

44

426

11.6

%

Normalized EBIT

3 024

(210

)

(170

)

294

2 937

10.2

%

Normalized EBITDA

4 052

(195

)

(251

)

294

3 901

7.5

%

Normalized EBITDA margin

32.6

%

32.6

%

78bps

EMEA

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

93 804

147

-

(629

)

93 323

(0.7

)%

Revenue

9 003

(36

)

250

284

9 502

3.2

%

Cost of sales

(4 678

)

31

(128

)

(56

)

(4 832

)

(1.2

)%

Gross profit

4 325

(4

)

122

228

4 670

5.3

%

SG&A

(2 701

)

(45

)

(80

)

(60

)

(2 886

)

(2.2

)%

Other operating income/(expenses)

177

17

7

33

234

17.2

%

Normalized EBIT

1 801

(32

)

49

201

2 019

11.4

%

Normalized EBITDA

2 847

(26

)

80

198

3 098

7.0

%

Normalized EBITDA margin

31.6

%

32.6

%

117bps

  Asia Pacific

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

84 397

(91

)

-

(5 306

)

78 999

(6.3

)%

Revenue

6 196

(6

)

(92

)

(404

)

5 693

(6.5

)%

Cost of sales

(2 970

)

(19

)

42

205

(2 741

)

6.9

%

Gross profit

3 227

(25

)

(50

)

(199

)

2 952

(6.2

)%

SG&A

(2 059

)

(13

)

32

96

(1 944

)

4.6

%

Other operating income/(expenses)

116

0

0

(30

)

86

(26.2

)%

Normalized EBIT

1 284

(38

)

(18

)

(134

)

1 094

(10.6

)%

Normalized EBITDA

1 933

(35

)

(25

)

(172

)

1 700

(9.0

)%

Normalized EBITDA margin

31.2

%

29.9

%

(81)bps

  Global Export and Holding Companies

FY24

Scope

Currency

Translation

Organic

Growth

FY25

Organic

Growth

Volumes

380

(9

)

-

13

383

3.4

%

Revenue

418

144

3

23

588

6.1

%

Cost of sales

(546

)

(98

)

(3

)

(21

)

(667

)

(4.1

)%

Gross profit

(128

)

46

0

2

(79

)

1.8

%

SG&A

(1 468

)

79

(11

)

(38

)

(1 438

)

(2.8

)%

Other operating income/(expenses)

(8

)

-

(2

)

14

3

-

Normalized EBIT

(1 604

)

125

(14

)

(22

)

(1 513

)

(1.5

)%

Normalized EBITDA

(1 065

)

110

(5

)

111

(848

)

11.6

%

Annex 3: Consolidated statement of financial position (FY)

Million US dollar

31 December 2024

31 December 2025

  ASSETS

Non-current assets

Property, plant and equipment

23 503

23 664

Goodwill

110 479

117 908

Intangible assets

40 034

41 985

Investments in associates

4 612

5 002

Investment securities

168

161

Deferred tax assets

2 493

2 708

Pensions and similar obligations

42

150

Income tax receivables

470

444

Derivatives

261

145

Trade and other receivables

1 577

1 871

Total non-current assets

183 637

194 039

  Current assets

Investment securities

221

306

Inventories

5 020

5 107

Income tax receivables

727

785

Derivatives

554

583

Trade and other receivables

5 270

6 161

Cash and cash equivalents

11 174

11 638

Assets classified as held for sale

33

190

Total current assets

22 999

24 769

  Total assets

206 637

218 808

  EQUITY AND LIABILITIES

Equity

Issued capital

1 736

1 736

Share premium

17 620

17 620

Reserves

12 304

17 803

Retained earnings

46 577

50 128

Equity attributable to equity holders of AB InBev

78 237

87 287

  Non-controlling interests

10 463

10 449

Total equity

88 700

97 736

  Non-current liabilities

Interest-bearing loans and borrowings

70 720

72 128

Pensions and similar obligations

1 296

1 275

Deferred tax liabilities

11 321

11 400

Income tax payables

284

206

Derivatives

68

293

Trade and other payables

797

869

Provisions

385

425

Total non-current liabilities

84 871

86 596

  Current liabilities

Bank overdrafts

-

14

Interest-bearing loans and borrowings

1 449

885

Income tax payables

1 805

1 825

Derivatives

5 817

6 104

Trade and other payables

23 804

25 455

Provisions

191

192

Total current liabilities

33 066

34 475

  Total equity and liabilities

206 637

218 808

Annex 4: Consolidated statement of cash flows (FY)

For the year ended 31 December

Million US dollar

2024

2025

  OPERATING ACTIVITIES

Profit of the period

7 416

8 477

Depreciation, amortization and impairment

5 544

5 652

Net finance expense/(income)

5 353

4 465

Equity-settled share-based payment expense

644

625

Income tax expense

3 152

2 850

Share of results of associates

(433

)

(387

)

Other non-cash items

(269

)

(45

)

Cash flow from operating activities before changes in working capital and use of provisions

21 406

21 637

Decrease/(increase) in trade and other receivables

341

(187

)

Decrease/(increase) in inventories

(149

)

87

Increase/(decrease) in trade and other payables

(215

)

(298

)

Pension contributions and use of provisions

(374

)

(426

)

Cash generated from operations

21 009

20 814

Interest paid

(3 649

)

(3 348

)

Interest received

594

462

Dividends received

234

195

Income tax paid

(3 134

)

(3 240

)

Cash flow from/(used in) operating activities

15 055

14 883

  INVESTING ACTIVITIES

Acquisition of property, plant and equipment and of intangible assets

(3 863

)

(3 656

)

Proceeds from sale of property, plant and equipment and of intangible assets

128

104

Sale/(acquisition) of subsidiaries, net of cash

(46

)

18

Proceeds from sale/(acquisition) of other assets

523

98

Cash flow from/(used in) investing activities

(3 259

)

(3 436

)

  FINANCING ACTIVITIES

Proceeds from borrowings

5 465

4 400

Repayments of borrowings

(9 295

)

(6 861

)

Dividends paid

(2 672

)

(4 543

)

Share buyback

(937

)

(2 301

)

Payment of lease liabilities

(787

)

(733

)

Derivative financial instruments

(431

)

(206

)

Sale/(acquisition) of non-controlling interests

(435

)

(323

)

Other financing cash flows

(763

)

(883

)

Cash flow from/(used in) financing activities

(9 854

)

(11 450

)

  Net increase/(decrease) in cash and cash equivalents

1 942

(3

)

Cash and cash equivalents less bank overdrafts at beginning of year

10 314

11 174

Effect of exchange rate fluctuations

(1 082

)

452

Cash and cash equivalents less bank overdrafts at end of period

11 174

11 623