- Investing in US Startups, Entire Group Aims to Grow in New Areas by 
Leveraging Foundation of Existing Businesses -

Asahi Group Holdings, Ltd. is pleased to announce that it has established an 
investment management company, Asahi Group Beverages & Innovation, LLC, in San 
Francisco, the US, and will start managing a startup investment fund, Asahi 
Group Beverages & Innovation Fund, from January 2023. By making investment in 
minority shares in US startups, Asahi Group Holdings aims to achieve 
"sustainable growth of existing businesses centered on beer category while 
expanding into new areas," which is the ideal business portfolio, as stated in 
the Asahi Group Medium- to Long-Term Management Policy.

Logo: 
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The startup investment fund, Asahi Group Beverages & Innovation Fund, provides 
funding to US startups that have attractive brands with significant future 
growth potential in the low-alcohol beverages, non-alcohol beer-taste 
beverages, and adult soft drink categories. Additionally, the fund invests in 
startups with technology that will lead to new sales and manufacturing methods. 
The US alcohol and non-alcohol beverage market is a world leader in creating 
new categories and trends, as seen in the past significant growth of hard 
seltzer and energy drinks.

Through minority investment and collaboration with such startups, Asahi Group 
Holdings will use Asahi Group's business platform to support the expansion of 
sales in the US and abroad for the products and services provided by those 
companies. Additionally, the company will provide the Asahi Group's regional 
headquarters in Japan, Europe, Oceania, and Southeast Asia with information on 
startup initiatives and trends in the US market, which will be utilized in 
their respective areas of operations and contribute to the growth of Asahi 
Group's existing businesses. Total investment is expected to be approximately 
70 million USD by the end of 2025. The investment managers of Asahi Group 
Beverages & Innovation, LLC will consist of employees appointed from Asahi 
Group's regional headquarters, and others to manage the startup investment fund.

Under the Asahi Group Philosophy, Asahi Group aims to achieve sustainable 
growth and enhance its corporate value over the medium to long term by steadily 
implementing the strategies outlined in the Medium- to Long-Term Management 
Policy and to become a group that continues to earn the trust of stakeholders 
into the future.

Atsushi Katsuki, President and CEO at Asahi Group Holdings, said: "In addition 
to its size, the US is one of the most attractive markets in the world for 
creating new trends. We look forward to co-creating with startups that will 
open up new markets for alcohol and non-alcohol beverages. We aim to 'deliver 
on our great taste promise and bring more fun to life' by grasping new trends 
in the US and creating new value."

Investment Management Company Profile
Company Name: Asahi Group Beverages & Innovation, LLC
Date of Establishment: July 29, 2022
Address: 44 Montgomery Street. San Francisco, CA, 94104
Number of Employees: 5 (planned)

Startup Investment Fund Overview
Formal Name: Asahi Group Beverages & Innovation Fund, L.P.
Managing Company: Asahi Group Beverages & Innovation, LLC
Date of Formation: November 30, 2022
Total Amount of Investment: 70 million USD
Investment Target: Startups providing Beer Adjacent Categories (BAC), such as 
low-alcohol beverages, non-alcohol beer-taste beverages, adult soft drinks, and 
others. Other startups with technology that will lead to new sales and 
manufacturing methods.

For further information about Investment Activities, please contact:
Business Development, Asahi Group Holdings, Ltd. 
Email: AGBI[at]asahigroup-holdings.com

About Asahi Group Holdings, Ltd.
Asahi Group Holdings, Ltd. is a global leader in delivering on great taste 
promise and bringing more fun to life across an inclusive collection of alcohol 
beverages centered on beer, non-alcohol beverages and food brands. The Group 
prides itself with an undivided focus on innovation and quality since the 
founding in 1889 in Japan, which is also shared with its acquired breweries and 
brands from across the world whilst cherishing a heritage of over 100 to 400 
years. This combined rich history has resulted in a global portfolio of iconic 
premium beers that includes "Asahi Super Dry," "Peroni Nastro Azzurro," 
"Kozel," "Pilsner Urquell" and "Grolsch." Asahi Group is committed to bringing 
positive impact on the businesses and communities in which it operates through 
its long-standing expertise and global distribution of authentic alcohol and 
non-alcohol brands. The Group excels in both size and scale delivering over 10 
billion liters of beverages to consumers worldwide annually, with revenue, i.e. 
its quantitative value proposition, exceeding 2 trillion JPY. It has presence 
throughout the world, with primary operations in Japan, Europe, Oceania and 
Southeast Asia. Headquartered in Japan, the Group is listed on the Tokyo Stock 
Exchange (Prime section: 2502.T). Asahi Group contributes to sustainable 
society and responds to changing conceptions of well-being.


Source: Asahi Group Holdings, Ltd.