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Gavin Hattersley Shareholder Engagement First Quarter 2021 Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words “believe,” "aims," “expect,” “intend,” “anticipate,” “project,” “will,” “outlook,” and similar expressions identify forward-looking statements, which generally are not historic in nature. Statements that refer to projections of our future financial performance, our anticipated results, cost savings and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements, and include, but are not limited to, impacts of the Coronavirus pandemic on our operations, liquidity, financial condition and financial results, expectations regarding future dividends, overall volume trends, consumer preferences, pricing trends, industry forces, cost reduction strategies, including our revitalization plan announced in 2019 and the estimated range of related charges and timing of cash charges, anticipated results, expectations for funding future capital expenditures and operations, debt service capabilities, timing and amounts of debt and leverage levels, shipment levels and profitability, market share and the sufficiency of capital resources. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s historical experience, and present projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission (“SEC”). These factors include, among others, the impact of the Coronavirus pandemic, the impact of increased competition resulting from further consolidation of brewers, competitive pricing and product pressures; health of the beer industry and our brands in our markets; economic conditions in our markets; additional impairment charges; our ability to maintain manufacturer/distribution agreements; changes in our supply chain system; availability or increase in the cost of packaging materials; success of our joint ventures; risks relating to operations in developing and emerging markets; our brand image, reputation, product quality and protection of intellectual property; changes in the social acceptability, perceptions and the political views of beverage categories; changes in legal and regulatory requirements, including the regulation of distribution systems; unfavorable outcomes of legal or regulatory matters; fluctuations in foreign currency exchange rates; increase in the cost of commodities used in the business; the impact of climate change and the availability and quality of water; loss or closure of a major brewery or other key facility; our ability to implement our strategic initiatives, including executing and realizing cost savings; pension plan and other post- retirement benefit costs; failure to comply with debt covenants or deterioration in our credit rating; our ability to maintain good labor relations; a breach of our information systems; and other risks discussed in our filings with the SEC, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements in this presentation are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise. Non-GAAP Information Please see our most recent earnings release or visit the investor relations page of our website – www.molsoncoors.com – to find disclosure and applicable reconciliations of non-GAAP financial measures discussed in this presentation. 2 Corporate Overview and Recent Developments 3 Executive Summary In October 2019, Molson Coors announced a revitalization plan and as a result: • Simplified our organization structure • Announced five pillars of the plan • Changed the name of the company to Molson Coors Beverage Company • Rolled out a new company purpose and ambition • Announced new values 4 Molson Coors’ Structure PAST PRESENT North America Europe U.S. Canada Europe MCI (U.S., Canada, (+APAC) Emerging Growth) Corporate Center Simplified, nimble and more accountable Complex and layered 5 Revitalization Plan Well Underway – Announced in October 2019 STRATEGIC ORGANIZATIONAL Build on the Aggressively Expand in Invest Support our strength of grow Above Beyond Beer in our people and our iconic Premium capabilities communities brands 6 Building on the Strength of Our Iconic Core and Growing Share 7 Growing Above Premium Through Differentiated Seltzer Portfolio and Powerful Craft Portfolio Seltzer Category Above Premium Beer Category Doubled our US market share in 2020 Blue Moon LightSky: Targeting to achieve double-digit share goal by end #1 New Beer in the US of 2021 Hop Valley: First National IPA Yuengling: JV Expanding to the West 8 Expansion Into New Growth Categories Beyond Beer 9 Investing in Capabilities, Powering Growth • Investments to modernize brewery footprint / • Developed in-house analytics team to enhance supply chain efficiency, including G150 project analytics, processes and systems • Expanding capacity in Fort Worth and • Supports faster time from innovation to market Milwaukee to grow our Above Premium and focus on return on marketing spend innovations and seltzers • Improved e-commerce capabilities • Delivering on World Class Supply Chain • Enhanced data management objectives 10 Investing in Our People and Our Communities Week of Redirected Inclusion Social Media Spending Driving Positive Change Tenth and Blake Increase Scholarship Diversity at All Program Levels 11 Who is MOLSON COORS BEVERAGE COMPANY? 5th largest beer company in the world OUR PURPOSE: ~100 42 15 Uniting People to Countries Breweries +$100M* Brands Celebrate All Life’s Moments OUR AMBITION: +84M +17,000 First Choice for Our People, Volume/hcl** Employees Our Consumers and Our Customers * Brand families ** Annual figure for 2020 12 Rich and Evolving History Molson Coors announces Revitalization Plan 2019 Molson Coors Acquires announces remaining ownership JV with D. G. stake of Yuengling & Molson acquires the MillerCoors Son Carling O’Keefe JV from SABMiller 2020 Coors Banquet Molson to become 2016 launched Canadian Canada’s Bill Coors 1937 introduced largest brewer named Molson beers Molson Adolph Coors 1959 1989 open the US president of are Coors acquires Golden Prohibition Adolph introduced to Atwater Brewery Brewery in hits the Coors the U.K. 2020 Miller Lite Coors Light MillerCoors Colorado nation Company 1983 introduced available in all acquires Saint Molson Coors 1873 1920 1952 Molson nationally, 50 states for the Archer, the first acquires Brewery Coors’ creating the time. Indiana in the craft California-based John Molson reaches 1 Golden light beer was last to brewery Clearly opens brewery million Valley segment in receive it Coors Light portfolio Kombucha - in Montreal, barrels in production the U.S. Miller 1991 SAB acquires surpasses 2015 entry into non- Miller High Life Canada production reaches 1 1975 Genuine Miller Brewing Bud as #2 alcohol 1786 introduced 1949 million Draft is Company U.S. beer 2018 Coors Light 1903 barrels introduced 2002 2011 1955 introduced 1985 1978 2018 1970 2012 1855 Molson Export 1933 1988 Molson Coors Phillip Morris 1981 Acquires Frederick J. Miller launched US Prohibition Miller acquires & HEXO form buys Miller Coors Light StarBev, takes over the Plank ends Miller Jacob Canadian JV, Brewing “Silver Bullet” changes name Road Brewery Brewery Leinenkugel Truss to Company advertising to Molson Coors (Milwaukee Brewery reaches 1 begins Brewing Central Europe develop still there today) million Company 2005 cannabis- barrels in Coors infused production merges beverages for 2020 1995 with Canadian Molson Coors Coors launches Molson market changes 1978 Blue Moon corporate name 1947 Molson Brewing Co. 1959 to Molson Coors Founders grandson, repurchases the 2008 Coors pioneers Beverage Fredrick C. Miller, Montreal Molson Coors aluminum cans Company takes the helm of Canadiens hockey and SABMiller Miller Brewing Co. team form US joint venture 2016 Acquires U.S. craft beers Terrapin Beer Co, Hop 2019 Valley Brewing Molson Coors Company, and makes equity Revolver Brewing investment in LA Libations to develop non-alc beverages 13 Coronavirus and other Recent Events 14 Recent Events Molson Coors is continuing to make positive progress against its revitalization plan despite three significant events that hit Molson Coors in 2020 (tragedy at our Milwaukee Brewery, grappling with systemic racism, and the Coronavirus pandemic) Coronavirus Impact • Significant effect on employees – implemented initiatives aimed at protecting and supporting employees • Material impact on the business • Protect cash and liquidity position • Significant disruption, particularly in Europe, due to the closing of on-premise locations 15 Steps We’re Taking in Response to the Coronavirus Pandemic Protecting Our Employees • Additional health and safety measures in breweries and distribution center • Cleaning, sanitization, hygiene, social distancing, temperature screenings, cloth facemasks, and hand sanitizer • Paid leave policy and program • Thank you
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