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Home › Companies › Ambev SA › 2025-2026

Ambev SA 2025-2026 Proxy Voting Records

At Ambev SA's shareholder meeting held April 30, 2026, in the 2025-2026 proxy season, 98 asset managers reported how they voted in their SEC Form N-PX filings, covering 7,577 separate fund positions. Their filings are grouped here into 112 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Elect Fernando Mommensohn Tennenbaum as Director — the reporting funds and managers cast 53.5% of the shares they voted in favour (FOR divided by FOR plus AGAINST plus WITHHELD; abstained and unvoted shares are excluded because neither took a side). Fund and manager reports are combined in it and may count the same shares twice: it adds fund reports to institutional-manager reports, which can cover the same shares. It is not the company's certified result.

Download data (CSV): ballot items · votes by manager · column guide.

Compiled from SEC Form N-PX filings. Page generated November 8, 2026.

  • 112Reported items
  • 98Asset managers
  • 7,577Fund votes
  • April 30, 2026Meeting date

Results at a glance

No official results are on file for this meeting: no Form 8-K tally (Item 5.07) from Ambev SA has been matched to it. The figures below are the funds’ own votes from Form N-PX. They are not the meeting result, so they are not used to judge dissent.

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Ambev SA in the interactive database Compare manager voting policies

How asset managers voted at the Ambev SA 2025-2026 meeting

Each item below shows how the 98 asset managers that disclosed a Ambev SA vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of Ambev SA’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Elect Fernando Mommensohn Tennenbaum as Director

Combines 3 wordings of this item as funds reported it.

53.5% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: votes by 79 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 72 asset managers voting on “Elect Fernando Mommensohn Tennenbaum as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966214,858,758 00Against
Vanguard55,705,982132,446,598 00Mixed
Advisors' Inner Circle Fund III107,570,817681,000 00For
Invesco49,458,1110 00For
Hartford34,694,1160 00For
SEI28,803,7790 00For
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust014,888,500 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Victory Capital966,8155,103,200 00Mixed
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Northern Trust04,706,926 00Against
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For

Fund voting reports, all 72 managers: 596,500,957 for, 507,979,330 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 5 asset managers voting on “Elect Fernando Mommensohn Tennenbaum as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Sendero Wealth Management, LLC021,540 00Against
Keel Point, LLC03,151 00Against
Decatur Capital Management, Inc.2,5480 00For

Institutional-manager reports, all 5 managers: 2,548 for, 11,280,118 against.

2. Elect Ricardo Manuel Frangatos Pires Moreira as Director

Combines 3 wordings of this item as funds reported it.

49.2% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: votes by 79 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 72 asset managers voting on “Elect Ricardo Manuel Frangatos Pires Moreira as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966214,858,758 00Against
Vanguard55,705,982132,446,598 00Mixed
Advisors' Inner Circle Fund III107,570,817681,000 00For
Invesco2,364,66447,093,447 00Against
Hartford34,694,1160 00For
SEI28,803,7790 00For
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust014,888,500 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Victory Capital966,8155,103,200 00Mixed
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Northern Trust04,706,926 00Against
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For

Fund voting reports, all 72 managers: 549,407,510 for, 555,072,777 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 5 asset managers voting on “Elect Ricardo Manuel Frangatos Pires Moreira as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Sendero Wealth Management, LLC021,540 00Against
Keel Point, LLC03,151 00Against
Decatur Capital Management, Inc.2,5480 00For

Institutional-manager reports, all 5 managers: 2,548 for, 11,280,118 against.

3. Elect Fabio Colletti Barbosa as Director

42% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Fabio Colletti Barbosa as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966188,086,787 00Against
Vanguard0132,446,598 00Against
Advisors' Inner Circle Fund III107,186,059681,000 00For
Invesco049,458,111 00Against
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Victory Capital05,103,200 00Against
Northern Trust04,706,926 00Against
Lincoln Financial1,550,483690,200 00Mixed
American Century01,548,689 00Against
Global Macro Capital Opportunities Portfolio01,365,200 00Against
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust0888,034 00Against
JPMorgan0866,028 00Against
Thrivent0595,600 00Against

Fund voting reports, all 49 managers: 376,765,848 for, 511,805,258 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Fabio Colletti Barbosa as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Keel Point, LLC03,151 00Against

Institutional-manager reports, all 3 managers: 11,258,578 against.

4. Elect Fernanda Gemael Hoefel as Independent Director

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Fernanda Gemael Hoefel as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Fernanda Gemael Hoefel as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

5. Elect Fiscal Council Members

No official resultsFund totals may overlapCOMPENSATIONCORPORATE GOVERNANCE

100% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Fiscal Council Members” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS00 248,129,7810Abstain
BlackRock00 188,404,7530Abstain
Vanguard00 132,446,5980Abstain
Advisors' Inner Circle Fund III00 107,867,0590Abstain
Invesco00 49,458,1110Abstain
FINANCIAL INVESTORS TRUST00 28,069,0000Abstain
MFS00 27,142,9110Abstain
State Street00 18,675,9820Abstain
Delaware/Macquarie00 13,500,0000Abstain
RBB Fund Trust00 9,993,9030Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Allspring00 5,671,1120Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Lincoln Financial00 2,240,6830Abstain
American Century00 1,548,6890Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
FIRST EAGLE VARIABLE FUNDS00 1,140,9840Abstain
Nomura ETF Trust00 888,0340Abstain
JPMorgan00 866,0280Abstain
Thrivent00 595,6000Abstain

Fund voting reports, all 49 managers: 193,480 for, 888,377,626 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Fiscal Council Members” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain
RWC Asset Management LLP00 2,806,7270Abstain
Keel Point, LLC00 3,1510Abstain

Institutional-manager reports, all 3 managers: 11,258,578 abstained.

6. Elect Lia Machado de Matos as Director

42% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Lia Machado de Matos as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966188,086,787 00Against
Vanguard0132,446,598 00Against
Advisors' Inner Circle Fund III107,186,059681,000 00For
Invesco049,458,111 00Against
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Victory Capital05,103,200 00Against
Northern Trust04,706,926 00Against
Lincoln Financial1,550,483690,200 00Mixed
American Century01,548,689 00Against
Global Macro Capital Opportunities Portfolio01,365,200 00Against
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust0888,034 00Against
JPMorgan0866,028 00Against
Thrivent0595,600 00Against

Fund voting reports, all 49 managers: 376,765,848 for, 511,805,258 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Lia Machado de Matos as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Keel Point, LLC03,151 00Against

Institutional-manager reports, all 3 managers: 11,258,578 against.

7. Elect Luciana Pires Dias as Independent Director

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Luciana Pires Dias as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Luciana Pires Dias as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

8. Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cabral de Soares as Alternate (Not Linked to Any…

47.4% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: description as filed, votes by 53 asset managers

Description as filed by funds: Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cabral de Soares as Alternate (Not Linked to Any Specific Director)

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cabral de Soares as Alternate (Not Linke” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966188,086,787 00Against
Vanguard0132,446,598 00Against
Advisors' Inner Circle Fund III107,186,059681,000 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Victory Capital05,103,200 00Against
Northern Trust04,706,926 00Against
Lincoln Financial1,550,483690,200 00Mixed
American Century01,548,689 00Against
Global Macro Capital Opportunities Portfolio01,365,200 00Against
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust0888,034 00Against
JPMorgan0866,028 00Against
Thrivent0595,600 00Against

Fund voting reports, all 49 managers: 426,223,959 for, 462,347,147 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cabral de Soares as Alternate (Not Linke” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Keel Point, LLC03,151 00Against

Institutional-manager reports, all 3 managers: 11,258,578 against.

9. Elect Milton Seligman as Director and David Henrique Galatro de Almeida as Alternate (Not Linked to Any Specific…

42% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: description as filed, votes by 53 asset managers

Description as filed by funds: Elect Milton Seligman as Director and David Henrique Galatro de Almeida as Alternate (Not Linked to Any Specific Director)

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Milton Seligman as Director and David Henrique Galatro de Almeida as Alternate (Not Linked to Any Specif” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966188,086,787 00Against
Vanguard0132,446,598 00Against
Advisors' Inner Circle Fund III107,186,059681,000 00For
Invesco049,458,111 00Against
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Victory Capital05,103,200 00Against
Northern Trust04,706,926 00Against
Lincoln Financial1,550,483690,200 00Mixed
American Century01,548,689 00Against
Global Macro Capital Opportunities Portfolio01,365,200 00Against
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust0888,034 00Against
JPMorgan0866,028 00Against
Thrivent0595,600 00Against

Fund voting reports, all 49 managers: 376,765,848 for, 511,805,258 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Milton Seligman as Director and David Henrique Galatro de Almeida as Alternate (Not Linked to Any Specif” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Keel Point, LLC03,151 00Against

Institutional-manager reports, all 3 managers: 11,258,578 against.

10. Elect Victorio Carlos De Marchi as Director

42% Fund and manager reports combined; may count the same shares twice · no official result

FORAGAINST
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Victorio Carlos De Marchi as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock317,966188,086,787 00Against
Vanguard0132,446,598 00Against
Advisors' Inner Circle Fund III107,186,059681,000 00For
Invesco049,458,111 00Against
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust9,993,9030 00For
PIMCO09,187,700 00Against
Dodge & Cox8,285,8000 00For
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Victory Capital05,103,200 00Against
Northern Trust04,706,926 00Against
Lincoln Financial1,550,483690,200 00Mixed
American Century01,548,689 00Against
Global Macro Capital Opportunities Portfolio01,365,200 00Against
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust0888,034 00Against
JPMorgan0866,028 00Against
Thrivent0595,600 00Against

Fund voting reports, all 49 managers: 376,765,848 for, 511,805,258 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Victorio Carlos De Marchi as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Keel Point, LLC03,151 00Against

Institutional-manager reports, all 3 managers: 11,258,578 against.

11. In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below?

Combines 2 wordings of this item as funds reported it.

97% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below?” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS00 248,129,7810Abstain
BlackRock00 188,404,7530Abstain
Vanguard00 132,446,5980Abstain
Advisors' Inner Circle Fund III00 107,867,0590Abstain
Invesco47,093,4470 2,364,6640For
FINANCIAL INVESTORS TRUST00 28,069,0000Abstain
MFS00 27,142,9110Abstain
State Street00 18,675,9820Abstain
Delaware/Macquarie00 13,500,0000Abstain
RBB Fund Trust00 9,993,9030Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Allspring00 5,671,1120Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Lincoln Financial01,550,483 690,2000Mixed
American Century00 1,548,6890Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
FIRST EAGLE VARIABLE FUNDS00 1,140,9840Abstain
Nomura ETF Trust00 888,0340Abstain
JPMorgan00 866,0280Abstain
Thrivent00 595,6000Abstain

Fund voting reports, all 49 managers: 47,093,447 for, 1,550,483 against, 839,927,176 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below?” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain
RWC Asset Management LLP00 2,806,7270Abstain
Keel Point, LLC00 3,1510Abstain

Institutional-manager reports, all 3 managers: 11,258,578 abstained.

12. As an Ordinary Shareholder, Would You like to Request a Separate Minority Election of a Member of the Board of…

0% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: description as filed, votes by 37 asset managers

Description as filed by funds: As an Ordinary Shareholder, Would You like to Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 35 asset managers voting on “As an Ordinary Shareholder, Would You like to Request a Separate Minority Election of a Member of the Board of” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco00 49,458,1110Abstain
MFS00 18,714,3000Abstain
State Street017,732,467 00Against
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio01,365,200 00Against
JPMorgan00 866,0280Abstain
Lincoln Financial0103,600 586,6000Mixed
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance0504,775 00Against
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 19,706,042 against, 440,613,112 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “As an Ordinary Shareholder, Would You like to Request a Separate Minority Election of a Member of the Board of” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

13. Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of…

No official resultsFund totals may overlapSHAREHOLDER RIGHTS AND DEFENSES

63% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: description as filed, votes by 37 asset managers

Description as filed by funds: Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 35 asset managers voting on “Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Te” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco47,093,4470 2,364,6640For
MFS00 18,714,3000Abstain
State Street017,732,467 00Against
PIMCO00 9,187,7000Abstain
Dodge & Cox08,285,800 00Against
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio01,365,200 00Against
JPMorgan00 866,0280Abstain
Lincoln Financial0103,600 586,6000Mixed
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance0504,775 00Against
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity0193,480 00Against
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 47,093,447 for, 28,185,322 against, 385,040,385 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Te” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

14. Percentage of Votes to Be Assigned - Elect Fabio Colletti Barbosa as Director

— Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Fabio Colletti Barbosa as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco00 49,458,1110Abstain
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 460,319,154 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Fabio Colletti Barbosa as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

15. Percentage of Votes to Be Assigned - Elect Fernanda Gemael Hoefel as Independent Director

100% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Fernanda Gemael Hoefel as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco47,093,4470 2,364,6640For
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 47,093,447 for, 413,225,707 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Fernanda Gemael Hoefel as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

16. Percentage of Votes to Be Assigned - Elect Fernando Mommensohn Tennenbaum as Director

100% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Fernando Mommensohn Tennenbaum as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco47,093,4470 2,364,6640For
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 47,093,447 for, 413,225,707 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Fernando Mommensohn Tennenbaum as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

17. Percentage of Votes to Be Assigned - Elect Lia Machado de Matos as Director

— Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Lia Machado de Matos as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco00 49,458,1110Abstain
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 460,319,154 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Lia Machado de Matos as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

18. Percentage of Votes to Be Assigned - Elect Luciana Pires Dias as Independent Director

100% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Luciana Pires Dias as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco47,093,4470 2,364,6640For
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 47,093,447 for, 413,225,707 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Luciana Pires Dias as Independent Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

19. Percentage of Votes to Be Assigned - Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cabral de…

100% Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: description as filed, votes by 37 asset managers

Description as filed by funds: Percentage of Votes to Be Assigned - Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cabral de Soares as Alternate (Not Linked to Any Specific Director)

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cab” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco47,093,4470 2,364,6640For
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 47,093,447 for, 413,225,707 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Michel Dimitrios Doukeris as Director and Ricardo Tadeu Almeida Cab” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

20. Percentage of Votes to Be Assigned - Elect Milton Seligman as Director and David Henrique Galatro de Almeida as…

— Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: description as filed, votes by 37 asset managers

Description as filed by funds: Percentage of Votes to Be Assigned - Elect Milton Seligman as Director and David Henrique Galatro de Almeida as Alternate (Not Linked to Any Specific Director)

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Milton Seligman as Director and David Henrique Galatro de Almeida a” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco00 49,458,1110Abstain
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 460,319,154 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Milton Seligman as Director and David Henrique Galatro de Almeida a” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

21. Percentage of Votes to Be Assigned - Elect Ricardo Manuel Frangatos Pires Moreira as Director

— Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Ricardo Manuel Frangatos Pires Moreira as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco00 49,458,1110Abstain
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 460,319,154 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Ricardo Manuel Frangatos Pires Moreira as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

22. Percentage of Votes to Be Assigned - Elect Victorio Carlos De Marchi as Director

— Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: votes by 37 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 35 asset managers voting on “Percentage of Votes to Be Assigned - Elect Victorio Carlos De Marchi as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock00 188,404,7530Abstain
Vanguard00 131,766,0390Abstain
Invesco00 49,458,1110Abstain
MFS00 18,714,3000Abstain
State Street00 17,732,4670Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
JPMorgan00 866,0280Abstain
Lincoln Financial00 690,2000Abstain
Advisors' Inner Circle Fund III00 681,0000Abstain
Thrivent00 595,6000Abstain
Eaton Vance00 504,7750Abstain
Voya00 390,4890Abstain
PACE SELECT ADVISORS TRUST00 372,1000Abstain
MASTER INVESTMENT PORTFOLIO00 327,2530Abstain
Horizon Funds00 293,8670Abstain
HC CAPITAL TRUST00 248,4150Abstain
Fidelity00 193,4800Abstain
ADVISORS' INNER CIRCLE FUND00 169,8000Abstain

Fund voting reports, all 35 managers: 460,319,154 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Percentage of Votes to Be Assigned - Elect Victorio Carlos De Marchi as Director” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain

Institutional-manager reports, all 1 managers: 8,448,700 abstained.

23. Elect Fabio Colletti Barbosa

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

79% of fund votes cast · no official result

FORAGAINST
Details: votes by 32 asset managers

The 32 asset managers below reported 170,279,546 for, 45,653,723 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 170,279,546AGAINST: 45,653,723
Largest asset managers voting on “Elect Fabio Colletti Barbosa” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard55,705,9820 00For
Hartford34,694,1160 00For
SEI28,803,7790 00For
BlackRock026,771,971 00Against
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust014,888,500 00Against
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For
Pacific Life3,014,5800 00For
2023 ETF Series Trust02,779,229 00Against
VanEck ETF Trust1,889,3000 00For
Morningstar Funds Trust1,872,3090 00For
Bridge Builder Trust01,192,483 00Against
Victory Capital966,8150 00For
Natixis729,9580 00For
Venerable Variable Insurance Trust599,9450 00For
World Funds Trust483,0920 00For
ADVISORS' INNER CIRCLE FUND438,8000 00For
Advisors' Inner Circle Fund III384,7580 00For
Global X358,3000 00For
ETF Opportunities Trust285,3820 00For
Loomis Sayles253,6990 00For
Advisors Preferred Trust133,8660 00For
EA Series Trust121,0980 00For

Showing the 25 largest of 32 asset managers. All 32 are in the interactive database (link above).

24. Elect Fernanda Gemael Hoefel

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

99.9% of fund votes cast · no official result

FOR
Details: votes by 32 asset managers

The 32 asset managers below reported 215,911,729 for, 21,540 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 215,911,729AGAINST: 21,540
Largest asset managers voting on “Elect Fernanda Gemael Hoefel” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard55,705,9820 00For
Hartford34,694,1160 00For
SEI28,803,7790 00For
BlackRock26,771,9710 00For
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust14,888,5000 00For
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For
Pacific Life3,014,5800 00For
2023 ETF Series Trust2,779,2290 00For
VanEck ETF Trust1,889,3000 00For
Morningstar Funds Trust1,872,3090 00For
Bridge Builder Trust1,192,4830 00For
Victory Capital966,8150 00For
Natixis729,9580 00For
Venerable Variable Insurance Trust599,9450 00For
World Funds Trust483,0920 00For
ADVISORS' INNER CIRCLE FUND438,8000 00For
Advisors' Inner Circle Fund III384,7580 00For
Global X358,3000 00For
ETF Opportunities Trust285,3820 00For
Loomis Sayles253,6990 00For
Advisors Preferred Trust133,8660 00For
EA Series Trust121,0980 00For

Showing the 25 largest of 32 asset managers. All 32 are in the interactive database (link above).

25. Elect Lia Machado de Matos

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

79% of fund votes cast · no official result

FORAGAINST
Details: votes by 32 asset managers

The 32 asset managers below reported 170,279,546 for, 45,653,723 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 170,279,546AGAINST: 45,653,723
Largest asset managers voting on “Elect Lia Machado de Matos” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard55,705,9820 00For
Hartford34,694,1160 00For
SEI28,803,7790 00For
BlackRock026,771,971 00Against
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust014,888,500 00Against
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For
Pacific Life3,014,5800 00For
2023 ETF Series Trust02,779,229 00Against
VanEck ETF Trust1,889,3000 00For
Morningstar Funds Trust1,872,3090 00For
Bridge Builder Trust01,192,483 00Against
Victory Capital966,8150 00For
Natixis729,9580 00For
Venerable Variable Insurance Trust599,9450 00For
World Funds Trust483,0920 00For
ADVISORS' INNER CIRCLE FUND438,8000 00For
Advisors' Inner Circle Fund III384,7580 00For
Global X358,3000 00For
ETF Opportunities Trust285,3820 00For
Loomis Sayles253,6990 00For
Advisors Preferred Trust133,8660 00For
EA Series Trust121,0980 00For

Showing the 25 largest of 32 asset managers. All 32 are in the interactive database (link above).

26. Elect Luciana Pires Dias

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

93% of fund votes cast · no official result

FOR
Details: votes by 32 asset managers

The 32 asset managers below reported 201,023,229 for, 14,910,040 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 201,023,229AGAINST: 14,910,040
Largest asset managers voting on “Elect Luciana Pires Dias” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard55,705,9820 00For
Hartford34,694,1160 00For
SEI28,803,7790 00For
BlackRock26,771,9710 00For
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust014,888,500 00Against
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For
Pacific Life3,014,5800 00For
2023 ETF Series Trust2,779,2290 00For
VanEck ETF Trust1,889,3000 00For
Morningstar Funds Trust1,872,3090 00For
Bridge Builder Trust1,192,4830 00For
Victory Capital966,8150 00For
Natixis729,9580 00For
Venerable Variable Insurance Trust599,9450 00For
World Funds Trust483,0920 00For
ADVISORS' INNER CIRCLE FUND438,8000 00For
Advisors' Inner Circle Fund III384,7580 00For
Global X358,3000 00For
ETF Opportunities Trust285,3820 00For
Loomis Sayles253,6990 00For
Advisors Preferred Trust133,8660 00For
EA Series Trust121,0980 00For

Showing the 25 largest of 32 asset managers. All 32 are in the interactive database (link above).

27. Elect Victorio Carlos de Marchi

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

79% of fund votes cast · no official result

FORAGAINST
Details: votes by 32 asset managers

The 32 asset managers below reported 170,279,546 for, 45,653,723 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 170,279,546AGAINST: 45,653,723
Largest asset managers voting on “Elect Victorio Carlos de Marchi” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard55,705,9820 00For
Hartford34,694,1160 00For
SEI28,803,7790 00For
BlackRock026,771,971 00Against
Charles Schwab18,267,8440 00For
Russell Investments14,898,0540 00For
Datum One Series Trust014,888,500 00Against
Jackson National3,110,0170 00For
Adviser Managed Trust3,108,0000 00For
Pacific Life3,014,5800 00For
2023 ETF Series Trust02,779,229 00Against
VanEck ETF Trust1,889,3000 00For
Morningstar Funds Trust1,872,3090 00For
Bridge Builder Trust01,192,483 00Against
Victory Capital966,8150 00For
Natixis729,9580 00For
Venerable Variable Insurance Trust599,9450 00For
World Funds Trust483,0920 00For
ADVISORS' INNER CIRCLE FUND438,8000 00For
Advisors' Inner Circle Fund III384,7580 00For
Global X358,3000 00For
ETF Opportunities Trust285,3820 00For
Loomis Sayles253,6990 00For
Advisors Preferred Trust133,8660 00For
EA Series Trust121,0980 00For

Showing the 25 largest of 32 asset managers. All 32 are in the interactive database (link above).

28. Amend Article 40

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Amend Article 40” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard155,869,0740 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
Fidelity23,513,5620 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For

Fund voting reports, all 49 managers: 935,313,232 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Amend Article 40” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

29. Amend Article 5 to Reflect Changes in Capital

No official resultsFund totals may overlapCAPITAL STRUCTURECORPORATE GOVERNANCE

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Amend Article 5 to Reflect Changes in Capital” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard155,869,0740 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
Fidelity23,513,5620 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For

Fund voting reports, all 49 managers: 935,313,232 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Amend Article 5 to Reflect Changes in Capital” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

30. Amend Articles

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Amend Articles” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard155,869,0740 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
Fidelity23,513,5620 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For

Fund voting reports, all 49 managers: 935,313,232 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Amend Articles” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

31. Consolidate Bylaws

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Consolidate Bylaws” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard155,869,0740 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
Fidelity23,513,5620 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For

Fund voting reports, all 49 managers: 935,313,232 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Consolidate Bylaws” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

32. In Case One of the Nominees Leaves the Fiscal Council Slate Due to a Separate Minority Election, as Allowed Under…

0% Fund and manager reports combined; may count the same shares twice · no official result

AGAINST
Details: description as filed, votes by 53 asset managers

Description as filed by funds: In Case One of the Nominees Leaves the Fiscal Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “In Case One of the Nominees Leaves the Fiscal Council Slate Due to a Separate Minority Election, as Allowed Un” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS0248,129,781 00Against
BlackRock0188,404,753 00Against
Vanguard0132,446,598 00Against
Advisors' Inner Circle Fund III0107,867,059 00Against
Invesco049,458,111 00Against
FINANCIAL INVESTORS TRUST028,069,000 00Against
MFS027,142,911 00Against
State Street018,675,982 00Against
Delaware/Macquarie013,500,000 00Against
RBB Fund Trust09,993,903 00Against
PIMCO09,187,700 00Against
Dodge & Cox08,285,800 00Against
TIAA07,613,836 00Against
Columbia Threadneedle06,152,598 00Against
Allspring05,671,112 00Against
Franklin Templeton05,665,400 00Against
Victory Capital05,103,200 00Against
Northern Trust04,706,926 00Against
Lincoln Financial02,240,683 00Against
American Century01,548,689 00Against
Global Macro Capital Opportunities Portfolio01,365,200 00Against
FIRST EAGLE VARIABLE FUNDS01,140,984 00Against
Nomura ETF Trust0888,034 00Against
JPMorgan0866,028 00Against
Thrivent0595,600 00Against

Fund voting reports, all 49 managers: 888,571,106 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “In Case One of the Nominees Leaves the Fiscal Council Slate Due to a Separate Minority Election, as Allowed Un” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC08,448,700 00Against
RWC Asset Management LLP02,806,727 00Against
Keel Point, LLC03,151 00Against

Institutional-manager reports, all 3 managers: 11,258,578 against.

33. Fix Number of Directors at Nine

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Fix Number of Directors at Nine” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Fix Number of Directors at Nine” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

34. Fix Number of Fiscal Council Members at Three

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Fix Number of Fiscal Council Members at Three” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Fix Number of Fiscal Council Members at Three” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

35. Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2025

100% Fund and manager reports combined; may count the same shares twice · no official result

FORABSTAIN
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2025” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock00 188,404,7530Abstain
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 699,688,390 for, 188,882,716 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2025” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

36. Approve Allocation of Income and Dividends

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Approve Allocation of Income and Dividends” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Approve Allocation of Income and Dividends” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

37. Approve Remuneration of Company's Management

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 55 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Approve Remuneration of Company's Management” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 5 asset managers voting on “Approve Remuneration of Company's Management” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
APG Asset Management US Inc.38,018,1850 00For
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Sepio Capital, LP6,0000 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 5 managers: 49,282,763 for.

38. Approve Remuneration of Fiscal Council Members

No official resultsFund totals may overlapCOMPENSATIONCORPORATE GOVERNANCE

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 53 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Approve Remuneration of Fiscal Council Members” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,571,106 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Approve Remuneration of Fiscal Council Members” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

39. Elect Aristoteles Nogueira Filho as Fiscal Council Member and Vasco de Freitas Barcellos Neto as Alternate Appointed by…

No official resultsFund totals may overlapAUDIT-RELATEDCORPORATE GOVERNANCE

— Fund and manager reports combined; may count the same shares twice · no official result

ABSTAIN
Details: description as filed, votes by 53 asset managers

Description as filed by funds: Elect Aristoteles Nogueira Filho as Fiscal Council Member and Vasco de Freitas Barcellos Neto as Alternate Appointed by Minority Shareholder

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 49 asset managers voting on “Elect Aristoteles Nogueira Filho as Fiscal Council Member and Vasco de Freitas Barcellos Neto as Alternate App” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS00 248,129,7810Abstain
BlackRock00 188,404,7530Abstain
Vanguard00 132,446,5980Abstain
Advisors' Inner Circle Fund III00 107,867,0590Abstain
Invesco00 49,458,1110Abstain
FINANCIAL INVESTORS TRUST00 28,069,0000Abstain
MFS00 27,142,9110Abstain
State Street00 18,675,9820Abstain
Delaware/Macquarie00 13,500,0000Abstain
RBB Fund Trust00 9,993,9030Abstain
PIMCO00 9,187,7000Abstain
Dodge & Cox00 8,285,8000Abstain
TIAA00 7,613,8360Abstain
Columbia Threadneedle00 6,152,5980Abstain
Allspring00 5,671,1120Abstain
Franklin Templeton00 5,665,4000Abstain
Victory Capital00 5,103,2000Abstain
Northern Trust00 4,706,9260Abstain
Lincoln Financial00 2,240,6830Abstain
American Century00 1,548,6890Abstain
Global Macro Capital Opportunities Portfolio00 1,365,2000Abstain
FIRST EAGLE VARIABLE FUNDS00 1,140,9840Abstain
Nomura ETF Trust00 888,0340Abstain
JPMorgan00 866,0280Abstain
Thrivent00 595,6000Abstain

Fund voting reports, all 49 managers: 888,571,106 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Aristoteles Nogueira Filho as Fiscal Council Member and Vasco de Freitas Barcellos Neto as Alternate App” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC00 8,448,7000Abstain
RWC Asset Management LLP00 2,806,7270Abstain
Keel Point, LLC00 3,1510Abstain

Institutional-manager reports, all 3 managers: 11,258,578 abstained.

40. Elect Fabio de Oliveira Moser as Fiscal Council Member and Nilson Martiniano Moreira as Alternate Appointed by Minority…

No official resultsFund totals may overlapAUDIT-RELATEDCORPORATE GOVERNANCE

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: description as filed, votes by 53 asset managers

Description as filed by funds: Elect Fabio de Oliveira Moser as Fiscal Council Member and Nilson Martiniano Moreira as Alternate Appointed by Minority Shareholder

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 49 asset managers voting on “Elect Fabio de Oliveira Moser as Fiscal Council Member and Nilson Martiniano Moreira as Alternate Appointed by” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
FIRST EAGLE FUNDS248,129,7810 00For
BlackRock188,404,7530 00For
Vanguard132,446,5980 00For
Advisors' Inner Circle Fund III107,867,0590 00For
Invesco49,458,1110 00For
FINANCIAL INVESTORS TRUST28,069,0000 00For
MFS27,142,9110 00For
State Street18,675,9820 00For
Delaware/Macquarie13,500,0000 00For
RBB Fund Trust9,993,9030 00For
PIMCO9,187,7000 00For
Dodge & Cox8,285,8000 00For
TIAA7,613,8360 00For
Columbia Threadneedle6,152,5980 00For
Allspring5,671,1120 00For
Franklin Templeton5,665,4000 00For
Victory Capital5,103,2000 00For
Northern Trust4,706,9260 00For
Lincoln Financial2,240,6830 00For
American Century1,548,6890 00For
Global Macro Capital Opportunities Portfolio1,365,2000 00For
FIRST EAGLE VARIABLE FUNDS1,140,9840 00For
Nomura ETF Trust888,0340 00For
JPMorgan866,0280 00For
Thrivent595,6000 00For

Fund voting reports, all 49 managers: 888,377,626 for, 193,480 abstained. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Elect Fabio de Oliveira Moser as Fiscal Council Member and Nilson Martiniano Moreira as Alternate Appointed by” at Ambev SA, 2025-2026
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC8,448,7000 00For
RWC Asset Management LLP2,806,7270 00For
Keel Point, LLC3,1510 00For

Institutional-manager reports, all 3 managers: 11,258,578 for.

Showing the 40 reported items with the widest manager coverage, of 112 in total. Every item is in the interactive database (link above).

Largest Ambev SA shareholders voting in 2025-2026

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 15,761,638,756 shares outstanding at the time of that meeting.

Fund voting reports: top Ambev SA shareholders by shares voted on “Elect Fernando Mommensohn Tennenbaum as Director”, 2025-2026
#Asset manager % of shares outstanding
1FIRST EAGLE FUNDS 1.57%
2BlackRock 1.37%
3Vanguard 1.19%
4Advisors' Inner Circle Fund III 0.69%
5Invesco 0.31%
6Hartford 0.22%
7SEI 0.18%
8FINANCIAL INVESTORS TRUST 0.18%
9MFS 0.17%
10State Street 0.12%
Institutional-manager reports: top Ambev SA shareholders by shares voted on “Determine the overall compensation of the managers for the 2026 fiscal year, pursuant to the…”, 2025-2026
#Asset manager % of shares outstanding
1LONGFELLOW INVESTMENT MANAGEMENT CO LLC <0.01%
2Cook & Bynum Capital Management, LLC <0.01%
3Ethic Inc. <0.01%
4Sendero Wealth Management, LLC <0.01%
5Janney Montgomery Scott LLC <0.01%
6Decatur Capital Management, Inc. <0.01%
7Baron Financial Group, LLC <0.01%

Percentages above are of 15,761,638,756 shares outstanding, as reported by Ambev SA on its Form 20-F dated December 31, 2025 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.

Related

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Ambev SA’s 20-F dated December 31, 2025. This page is a static snapshot rebuilt weekly on November 8, 2026; a live search always shows the current data.

Ambev SA proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).

Cite this page

proxyvotesnow.com, “Ambev (ABEV) 2026 Annual Meeting: Vote Results & How Funds Voted”, https://proxyvotesnow.com/company/ambev-sa/2026 (version of November 9, 2026). Derived from SEC Form N-PX and Form 8-K filings; tables licensed CC BY 4.0. Licence: CC BY 4.0.