3Q24 Investor Update

$ MILLIONS OPERATING INCOME FY24 OUTLOOK VS FY23 RESULTS ENTERPRISE $2,862 FY23 V/P/M Beer Business $(35) $(40) ~6% to 7% Growth Depr. Further details on next page Other COGS Total YOY +LSD% MKTG. Total YoY +LSD% Other SG&A +6% to +7% FY24 1 Enterprise comparable operating income inclusive of $65M of corporate expense and $23M of comparable adjustments. $453 FY23 $(20) CAM of Brands Divested Wine & Spirits Business $434 Wine FY23 EX Divest. CAM ADJ. V/P/M Total YoY -MSD% COGS Total YOY -HSD% MKTG. Total YOY -HSD% Other SG&A -8% to -6% FY24 Constellation Brands

View entire presentation