3Q24 Investor Update

DEFINED TERMS Unless the context otherwise requires, the terms "Company," "CBI," "STZ," “we," "our,” or “us” refer to Constellation Brands, Inc. and its subsidiaries. We use terms in this presentation that are specific to us or are abbreviations that may not be commonly known or used. Term ABA CAM Canopy Canopy Strategic Transaction(s) Canopy Transaction Exchangeable Shares Meaning Alternative Beverage Alcohol Contribution after marketing, which equals gross profit less marketing expenses Canopy Growth Corporation FY GAAP GHG Any potential acquisition, divestiture, investment, or other similar transaction made by Canopy, including but not limited to the Canopy Transaction COGS Common Shares Canopy's common shares DEI Diversity, equity, and inclusion DEPR. Depreciation EBIT Earnings before interest and taxes ΕΙΕ Equity in earnings ESG Environmental, social, and governance Proposed corporate transaction by Canopy, including the creation of Exchangeable Shares, designed to consolidate its U.S. cannabis assets into Canopy USA Cost of goods sold Proposed new class of non-voting and non-participating exchangeable shares in Canopy which will be convertible into Common Shares Fiscal year General accepted accounting principles in the U.S. Greenhouse gas Term HL HSD HT LDD LSD MKTG. MSD ΝΑ NM Reclassification SEC SG & A U.S. V/P/M W&S Wine Divestiture YOY Meaning Hectoliters High single-digit High teen Low double-digit Low single-digit Marketing Mid single-digit Not applicable Not meaningful Reclassification, exchange, and conversion of the common stock to eliminate the Class B Common Stock pursuant to the terms and conditions of the reclassification agreement, dated June 30, 2022, among the Company and the members of the Sands stockholder group Securities and Exchange Commission Selling, general, and administrative expenses United States of America Volume / Price / Mix Wine and Spirits Divestiture of certain mainstream and premium wine brands and related inventory sold October 6, 2022 Year-over-year Constellation Brands

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