H1 2019 Financial Performance and Strategic Overview

Tequila's attractiveness in the U.S. Tequila: Among the Fastest Growing Spirits... 13A 18A Volume CAGR in the U.S. Tequila ...Benefiting from Favorable Secular Trends 1 6.3% 2 U.S. Whiskey 5.6% Vodka 1.4% Rum -1.3% Gin -0.3% Source: IWSR 2019 BOODLES GIN LONDON DRY Hangar 1 VODKA Three Olives VODKA KRAKENT 3 Jose Cuervo Younger Consumer Preferences Millennials eager to try and embrace variety and differentiating innovation • Willing to pay a higher price for distinctiveness Craftsmanship and Heritage • Preference for authenticity, heritage and provenance as differentiating factors • Ongoing "craft" trend across alcoholic beverages Premiumization Average $/9L Tequila Case in U.S. Market 306 265 2013 2018 4 Food Shots Long drinks Tequila is a Versatile Category Unlike Any Other Food pairing Release Social enjoyment Source: IWSR Jose Cuervo Especial Jose Cuervo TRADICIONAL CENTENARIO MAESTRO 1800 BUSHMILLS Jose Cuervo TEQUILERO TEQUILA COLORADO WHISKE Stranahan's TINCUP 12 12

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