H1 2019 Financial Performance and Strategic Overview

Route-to-Market control was key to U.S. success Jose Cuervo Jose Sales Turnaround Story in the U.S.: Jose Cuervo Case Study 7799 Quervo ESPECIAL Quervo TRADICIONAL REPOSADO BLUE AGAVE Reserva Muse hervor Jose Cuervo Since Proximo took over the distribution of Jose Cuervo from Diageo, volume grew 7% 2014 to 2018 (CAGR). Key Turnaround Initiatives Enhancing brand health Focused recruitment on 22-34 year old consumers Increased focus on Jose Cuervo Especial silver and Jose Cuervo Tradicional. Volume Impact Since Proximo Took Over Distribution in the U.S. (*000s 9Lc) (8.6%) 4,000 Proximo takes over distribution in U.S. in July 2013 +7.0% 3,750 3,500 3,250 3,000 2,750 2010 2011 2012 2013 2014 2015 2016 2017 2018 Jose Cuervo Brand (Volume) Jose Cuervo Brand Trend (%) 5% 5% 6% 4% 5% 7% 7% 7% Tequila Category Y-o-Y Growth (1) Jose Cuervo Brand (2) (5%) (4%) (0.4%) (10%) 6% 22% 8% (7%) Source: Company information, Internal information. Notes: 1. Considers IWSR volume for U.S. tequila category growth Y-o-Y 2. Refers to Y-o-Y growth rate BOODLES GIN Hangar 1 VODKA Three Olives KRAKEN Jose Cuervo VODKA LONDON DRY Especial Jose Cuervo TRADICIONAL CENTENARIO Jose Cuervo MAESTRO 1800 BUSHMILLS TEQUILERO TEQUILA COLORADO WISEEP Stranahan's TINCUP 16 10

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