3Q24 Investor Update

BEER BUSINESS HISTORICAL DEPLETION VOLUME CADENCE Q4 Q4 21% 21% H2 H2 -46% -46% Q3 Q3 Q3 24% 25% 25% 01111 Q2 Q2 Q2 30% 29% 29% H1 H1 -54% ~54% Q1 Q1 25% 25% FY21 H2 -44% H1 -56% Q4 20% Q3 24% Q2 31% Q1 25% FY19 Note: Totals may not sum due to rounding H2 -45% H1 -55% FY20 Q4 21% Q1 25% FY22 H2 -46% H1 -54% Q4 21% Q3 25% Q2 29% Q1 25% FY23 Constellation Brands

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