Investor Presentaiton

1 Transform & Accelerate ambition Pernod Ricard Créateurs de convivialité "Transform & Accelerate" focused on embedding dynamic growth and delivering operating leverage, in line with objective of maximising long-term value creation Med-term ambition: +4% to +7% topline growth with c. 50-60bps operating leverage +4 to +7% topline growth, leveraging key competitive advantages and consistent investment behind key priorities focus on pricing and building on operational excellence initiatives strong A&P investment, maintained at c.16% of Sales, with careful arbitration to support must-win brands and markets while stimulating innovation discipline on Structure costs, investing in priorities while maintaining agile organisation, with growth below topline growth rates Operating leverage of c.50-60 bps pa, provided topline within +4 to +7% bracket Financial policy: Priorities, while retaining investment grade rating 1. increased investment in future organic growth, in particular through strategic inventories and capex 2. continued active portfolio management and value-creating M&A 3. dividend distribution at c.50% payout 4. Share buy-back programme, 750M€ in FY22 4

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