Investor Presentaiton

4 F23 Announcement Highlights' . Earnings growth and margin expansion in F23, with EBITS +11% to $583.5m and EBITS margin +2.9ppts to 24.1%: - Delivered through strong top-line growth for the Luxury portfolio, led by Penfolds, price increases across several brands and cost savings from the global supply chain optimisation program Partly offset by reduced 19 Crimes and Commercial portfolio shipments in Treasury Americas and Treasury Premium Brands respectively Premiumisation trends continue across the wine category despite the tightening economic environment - Luxury wine continues strong growth trends in key markets, while the Premium segment remains resilient Good progress made towards implementation of the new Treasury Premium Brands operating model and restructuring of the Australian Commercial wine supply chain We are well positioned to deliver growth in F24, supported by Luxury portfolio growth, the strength of our diversified global business model and the benefits of key asset base and cost optimisation initiatives 1. Unless otherwise stated, all figures and percentage movements within commentary are stated on a reported currency basis versus the prior corresponding period, are pre-SGARA and material items and are subject to rounding TWE

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