Asahi : Determination of the Assets to be Delivered in Exchange for the Euro Yen Convertible Bonds due 2023 and due 2028 and Completion of the Acquisition

August 4, 2014
Company Name: Asahi Group Holdings, Ltd. President and Representative Director: Naoki Izumiya Securities Code: 2502
Stock Listings: Tokyo Stock Exchange, First Section
Contact: Kazutomo Tamesada
General Manager, Public Relations Section
Phone: [phone]

Determination of the Assets to be Delivered in Exchange for the Euro Yen Convertible Bonds due 2023 and due 2028 and Completion of the Acquisition

Asahi Group Holdings, Ltd. hereby announces that, in connection with the acquisition of the Zero Coupon Convertible Bonds due 2023 (bonds with stock acquisition rights, tenkanshasaigata shinkabu yoyakuken-tsuki shasai) and the Zero Coupon Convertible Bonds due 2028 (bonds with stock acquisition rights, tenkanshasaigata shinkabu yoyakuken-tsuki shasai) (together, the "Bonds") pursuant to the resolution dated June 4, 2014 of its Board of Directors, the assets to be delivered in exchange for the Bonds have been determined and the acquisition of the Bonds has been completed today as set forth below.
Assets to be delivered in exchange for the Bonds
Aggregate amount of cash Approximately
JPY 28,750 million

Aggregate number of shares (1) 4,632,600 shares

(Breakdown）
Zero Coupon Convertible Bonds due 2023

Cash amount equal to 100% of the principal amount JPY 8,758 million Shares (1) 1,375,500 shares Cash amount with respect to Non-unit shares (2) Approximately JPY 20 million
Zero Coupon Convertible Bonds due 2028

Cash amount equal to 100% of the principal amount JPY 19,647 million Shares (1) 3,257,100 shares Cash amount with respect to Non-unit shares (2) Approximately JPY 325 million

(1) We expect to allot our treasury shares towards the shares to be delivered as consideration.

(2) With respect to the Non-unit shares, we will deliver the cash amount equal to the aggregate market value of those shares on the Acquisition Option Date.

Please refer to our press releases dated June 4, 2014 "Acquisition and Cancellation of Euro Yen Convertible Bonds due 2023 and due 2028" and dated June 9, 2014 "Finalization of the Aggregate Amount of Euro Yen Convertible Bonds due 2023 and due 2028 to be Acquired" for further details.

Zero Coupon Convertible Bonds due 2023

1.	Issue Date	May 29, 2008
2.	Maturity Date	May 26, 2023
3.	Initial Issue Amount	JPY 35,000 million
4.	Acquisition Option Date	August 4, 2014
5.	Last Day Conversion Price	JPY 2,107
6.	Type A Acquisition Share Value	JPY 1,498,111.06
7.	Average VWAP per Share	JPY 3,156.52
Zero Coupon Convertible Bonds due 2028
1.	Issue Date	May 29, 2008
2.	Maturity Date	May 26, 2028
3.	Initial Issue Amount	JPY 35,000 million
4.	Acquisition Option Date	August 4, 2014
5.	Last Day Conversion Price	JPY 2,050
6.	Type A Acquisition Share Value	JPY 1,539,765.85
7.	Average VWAP per Share	JPY 3,156.52