CONSTELLATION Cagny 2023

Constellation Brands WHY A HIGHER-END FOCUS? CONSUMER-LED PREMIUMIZATION IS DRIVING HIGHER-END GROWTH DOLLAR SALES CAGR (FY19 Q3 LTM - FY23 Q3 LTM) HIGHER-END LOWER-END LOWER-END HIGHER-END LOW-END HIGH-END WINE WINE SPIRITS SPIRITS BEER BEER 12% -3% $10B del CURRENT TOTAL DOLLAR SALES (FY23 Q3 LTM) Source: IRI, Total U.S. Multi-Outlet + Convenience, 52 weeks ending December 4, 2022 and December 2, 2018. Dollar Sales of categories are based on company estimates. $55B 8

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