CONSTELLATION Cagny 2023
OVER
Constellation Brands
VODKA
Extra
BALANCING REINVESTMENT AND
ADDITIONAL RETURNS
DEPLOYING CAPITAL TO
ORGANIC INVESTMENTS
TO SUPPORT GROWTH
ADDITIONAL BEER BREWING
CAPACITY FY23-26
1
25-30M HL
IMPORTED SWEDISH
odelo
PINA
Bed and bottled
12 FLOZ
BUY-BACKS TARGETED TO AT LEAST
COVER DILUTION WITH ABILITY TO
OPPORTUNISTICALLY DO MORE
REMAINING CAPACITY FOR
OPPORTUNISTIC BUYBACKS
$1.2B²
1. Organic depletions growth, includes innovation/new products and excludes impact from any future acquisitions/divestitures.
2. $1.2B represents remaining portion of authorization approved by Board of Directors in January 2021 to repurchase up to $2.0 billion of the company's publicly traded common
stock as of November 30, 2022.
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