BECLE, S.A.B. de C.V. Board Meeting Company presentationApr 25 2018 June 2021 Disclaimer

This presentation has been prepared by Becle, S.A.B. de C.V. (“Becle”, “Cuervo” or the “Company”) for informational purposes. Nothing in this presentation is intended to be taken by, or should be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security. Although the information presented in this presentation has been obtained from sources that Becle believes to be reliable, Becle does not make any representation as to its accuracy, validity, timeliness or completeness for any purpose. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein.

Certain of the information contained in this presentation represents or is based upon forward looking statements or information. These forward-looking statements may relate to Becle’s financial condition, results of operations, plans, objectives, future performance and business, including, but not limited to, statements with respect to general macroeconomic conditions, consumer preferences, competition and availability of raw materials. All statements contained in this presentation that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or simi lar expressions are generally intended to identify forward-looking statements. The information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurance as to future results. Becle expressly disclaims any obligation or undertaking to update or revise the information, including any financial data and forward-looking statements, and will not publicly release any revisions they may make to this presentation that may result from events or circumstances arising after the date of this presentation.

2 A leading global Spirits Company and undisputed leader in worldwide

Created in 1758, Cuervo is today an 11th generation managed, the only Latin American public spirits company

✓ Undisputed leader in tequila globally, ~30% Key Figures – Financial 2019 2020 market share(1) Statements Volume (9L cases) 22.3 mm 23.7 mm ✓ Comprehensive portfolio of over 30 brands retailed in Net Sales P$29,705 MM P$35,036 MM more than 90 countries. EBITDA P$6,096 MM P$7,607 MM ✓ Track record of innovation and value EBITDA Margin 20.5% 21.7% enhancing/strategic via organic and non-organic growth. Net Sales Value Breakdown 2020 ✓ Strong geographic diversification and relevant By Region By Category exposure to the U.S. and Canada, the world’s largest spirits market. ROW Non-Alcoholic & Other 4% Tequila 11% ✓ Strong market position in high growth RTDs 13% category with Bushmills, Sexton and Proper No. 19% 21% Twelve 70% Non- 62% Tequila U.S. and ✓ Most vertically integrated player in Tequila from Canada production to distribution

Source: Company information and IWSR 2020 Notes: 1. Based on IWSR total volume 2019

3 Our Company

1 Undisputed leader in tequila worldwide

Unique portfolio of iconic brands in key fast-growing spirit categories, built upon an innovation focus and value enhancing organic and non-organic 2 growth

Global spirits company with leading presence in most profitable spirits markets 3 with significant upside potential through diversification and premiumization

4 Integrated model with robust route-to-market strategy

5 Track record of sustainable and profitable growth

6 Heritage built upon continued value creation and consistent family leadership

4 Undisputed leader in Tequila worldwide

Tequila Global Market Share Tequila Market Share by Region

As % of volume – 2019 As % of volume – 2019 Total Market Size 34.6mm 9L Cases

1st 29.9% United States (65% of 2020 Global Volume) 10.2% 23.6% 1st 9.4%

7.0% Rest of the World 2015 7.0% (9% of 2020 Global Volume) 2.9x nearest Mexico competitor st 5.0% (26% of 2020 Global Volume) 31.0% 1

3.3% 43.3% 1st

1.8%

1.9%

Jose Cuervo is the owner of 3 of the Top 6 selling Tequila brandsJose byJose volume globally Gran Jose Familia 1800 Cuervo Cuervo Cuervo Cuervo Centenario Platino 1st Marca

México / USA / USA / Mercado Global México México México 2019 19.0% 6.9% 5.1% USA5.1% México 5.1% 4.7% 4.1% México3.6% 2.3% 1.7% Segment Super Super Ultra Ultra Ultra Ultra Premium o Premium Premium Premium Premium Premium Premium Source: IWSR 2020 Posiciona- Joven Sofisticado Indulgente Indulgente miento Autentico Artesanal Elegante

Posición de №1 №1 №1 №1 №3 №1 №2 5 Mercado Tequila portfolio across price points

• Most comprehensive tequila portfolio across price segments • Focus on premiumization with a strong portfolio of ultra premium and prestige tequila brands

… With a Focus on Fast-Growing Portfolio of Powerful Established Brands… Ultra Premium and Prestige Segments…

Focus on brand premiumization

Jose JoseJose Jose Gran Jose Jose Jose Jose Gran JoseJose Gran Jose Jose Familia Familia 1800 Don JulioFamilia1800 Don Julio Cuervo 1800 DonCuervo Julio Cuervo Cuervo Cuervo Cuervo CuervoCuervo CuervoCentenario Cuervo Centenario Cuervo Cuervo Centenario Platino Platino Platino

Marca Marca Marca Brand

México / USA / USA / Mercado Global MéxicoMéxico / MéxicoUSA / México México / USA / USA / USA / MercadoUSA GlobalMéxico Mercado GlobalMéxico MéxicoMéxico México México MéxicoSuper Premium/México Ultra Premium USA SuperMéxico Premium SuperUSA Premium México SegmentMéxico México Prestige Segment Super Super Ultra Ultra Ultra Ultra Ultra Premium Premium Premium o SegmentPremium Premium PremiumSuperSegment PremiumSuper PremiumUltra PremiumSuperUltra SuperUltra Ultra Ultra Ultra Ultra Premium Premium o Premium oPremium PremiumPremiumPremium PremiumPremium PremiumPremium Premium Premium Premium Posiciona- Joven Sofisticado Indulgente Indulgente Main Markets miento Autentico Artesanal Elegante Posiciona- Posiciona- Joven Autentico Sofisticado JovenArtesanalAutenticoElegante SofisticadoIndulgente ArtesanalIndulgente Elegante Indulgente Indulgente Posición miento miento de №1 №1 №1 №1 №3 №1 №2 Market Position in Mercado Posición 1 1 1 2 1 3 6 2 1 Posición Segment de №1 №1 de №1 №1 №1 №1№3 №1№1 №1№2 №3 №1 №2 Mercado Mercado Source: Company information, IWSR Volumes 2020

6 Extensive portfolio of leading Spirits brands

Net Sales by • Over 15 brands in other spirits categories Family / Category

2020

Total Ps$35,036MM Irish & American Whiskey Rum

Premium / Ultra Premium Premium Premium / Premium Standard Ultra Premium Ultra Premium

Vodka Gin Jose Cuervo Family (36%)

1800 Family

Ultra Ultra (16%) Premium Premium Value Premium Premium Premium Premium Other Tequila (10%) Bushmills (5%) Kraken (4%) RTD’s Non-alcoholic Other Spirits (12%)

Premium Mid Price Premium Premium Premium Premium RTDs (13%)

Non-Alcoholic & Other (4%)

Source: Company information, IWSR 2020 Note: Company’s portfolio includes other brands not displayed above.

7 Focus on innovation

Fast-Growing Recently Developed Brand Continuous Brand Development and Rejuvenation

Premium Rum Tequila Launched in 2009 Reserva de la Maestro Dobel Familia 2005 Key Market 2016 Ultra Premium Prestige

Growing above category average and gaining market share in the U.S. Whiskey Stranahan’s Bushmills Steamship Diamond Peak (Travel Retail) Developed the Cristalino Category 2015 2016 Ultra Premium Tequila Ultra Premium Ultra Premium Launched in 2009 Key Markets

Vodka / Mezcal Hangar 1 FogPoint Creyente Ultra Premium Tequila 2016 2016 Ultra Premium Launched in 2015 Ultra Premium Mezcal Vodka Key Markets

RTDs JC Especial Cans JC Authentic Ultra Premium Tequila 2016 1993 Launched in 2018 Premium Tequila Premium Tequila RTD Key Markets RTD

Cristalinobrands were introduced to compete in the ultra-premium segment, one of the fastest growing tequila segments globally

8 Value-enhancing organic and non-organic growth

Value-Enhancing non-organic growth

2007 2010 2010 2011 2015 2018 2018-21

Bushmills Irish Whiskey: a Milestone in our non-organic growth Strategy

Key Acquisition Criteria

✓ Value Creation Potential:

Irish Whiskey Irish Whiskey #3 #3 in the U.S. by in the world by volume volume

✓ Category with Attractive Growth Profile:

− 14.0% CAGR 2014-2019 in volume in the U.S.

✓ Premium Brands: well known brands with broad portfolio offering

✓ Global Presence in Key Countries: 2020 figures

− Key Markets: 1) U.S. and Canada, 2) Eastern Europe, 3) Western Volume: 764,979 9L Cases Europe, 4) UK/Ireland, 5) Global Duty Free Revenues: Ps$1,412 MM ✓ Commercial Synergies

Source: Company information

9 Right brands / right categories / right markets

U.S. Spirits – Growth Spirits Categories – Global Market Share

2014-2019 Volume CAGR % Volume – 2019 14.0%

7.3% 6.5% Whiskey 15.8% 3.0% 2.3% 1.5% ~0.4% - Irish Whiskey -0.1% -0.9% Tequila Irish U.S. Vodka Gin Scotch Rum Total Vodka 13.1% Whiskey Whiskey Spirits

Global Spirits – Growth Brandy 6.3%

2014-2019 Volume CAGR

10.3% Tequila & Irish 6.3% 5.6% Rum 5.0% 5.2% Whiskey remain underrepresented 0.7% 0.8% 0.8% categories within -0.5% spirits Tequila 1.2% Tequila Irish U.S. Vodka Gin Scotch Rum Total (1) Whiskey Whiskey Spirits

Source: IWSR 2020 Notes: 1. Excludes Baiju

10 Global reach and established U.S. platform

Continued Geographic Diversification: U.S. and Canada represent ~70% of the Company’s Revenues in 2020

Net Sales by Region 2013A ROW 2020 ROW In volume and value: 10% 11% 1 in Tequila 3 in Irish Whiskey Mexico 19% 33% Mexico 57% U.S. and 70% U.S. and Canada Canada

Source: Company information

Higher Exposure to Dynamic U.S. Market…

% of revenues % of revenues from North America / Americas in U.S. and (1) Canada (Based on most recent annual financial reporting ) 70% 50% 45% 44% 40% 29%

Source: Company information for Cuervo, most recent publicly available annual financial statements for peers. We cannot assure you of the accuracy of our peers’ financial statements 1. Brown-Forman: defined as United States; Campari, Rémy Cointreau and Pernod Ricard: defined as Americas; Diageo: defined as North America (U.S. Spirits, Diageo- U.S. and Canada)

11 Tequila’s attractiveness in the U.S.

Tequila: Among the Fastest Growing Spirits… …Benefiting from Favorable Secular Trends 14A – 19A Volume CAGR in the U.S. 1 Younger ● Millennials eager to try and embrace variety and differentiating innovation Consumer ● Willing to pay a higher price for distinctiveness Preferences Tequila 7.3% 2 Craftsmanship ● Preference for authenticity, heritage and provenance as differentiating factors and Heritage ● Ongoing “craft” trend across alcoholic beverages U.S. Whiskey 6.5%

3 Average Retail Prices (USD)/9L Tequila Case in U.S. M arket 316 272 Vodka 2.3% Premiumization

2014 2019 Rum -0.9% 4 Food Shots Long drinks Tequila is a Versatile Category Gin -0.1% Unlike Any Other Food pairing Release Social enjoyment

Source: IWSR 2020 Source: IWSR

12 Untapped international growth

Key Categories Underpenetrated Outside Core Markets Cross-leverage Platforms to Accelerate Expansion

Tequila As % of Total Spirits Retail Sales – 2019 Cuervo derived ~90% of its 2020 net sales in value from the U.S., Canada and Mexico… $3.7 $54.9 $54.0 ~US$540 MM Potential market ROW revenue 10% U.S., Canada & 61.6% opportunity if Mexico 88.4% 99.1% penetration 38.4% increases 1% 90% 11.6% 0.9%

Tequila Other Spirits Total Spirits Retail Sales (US$ Bn)

Irish Whiskey … while Bushmills brand reported ~67% coming from ROW

As % of Global Whisky Retail Sales – 2019 U.S., Canada & $73.9 Mexico 36% ROW 95.0% ~US$739 MM 64% Potential market revenue opportunity if penetration increases 1% 5.0%

Irish Whiskey Other Whisky Global Whisky Retail Sales (US$ Bn)

Marginal growth in the underlying markets represents a significant revenue potential for Cuervo

Source: IWSR 2020, Company information

13 Integrated platform

1 Agriculture 2 Production

Competitive Advantage Resulting from Appellation of Flagship Distilleries and Bottling Facilities Support Origin for Tequila Route-to-Market Strategy

La Rojeña (Tequila) Camichines (Tequila) Tamaulipas (11 Municipalities) EDISA Bottling Facility

Guanajuato 1800 Distillery Nayarit (7 Municipalities) (Tequila) In construction (8 Municipalities) Stranahan’s (Colorado) (bottling) (125 municipalities) Michoacan Hangar 1 (California) (30 Municipalities) Proximo Bottling (Indiana) ● Tequila can only be produced from Agave Azul (Tequilana Weber)

● Cuervo is the largest Agave Azul producer

● Critical element in our supply and quality control strategy and Bottling (Northern Ireland) ● Cuervo is involved in full Agave cycle (plant, grow, harvest and freight)

In expansion Source: Company Information

14 Unique Route-to-Market distribution

3 Distribution

Own Distribution Platform to Control Route-to-Market and Brand Building Strategy

Volume through own distribution network • Vertical integration of profits Benefits from ~25% in 2007 to ~94% as of 2020 • Control and focus of own brands

Mexico Proximo: Well thought plan to gain route-to-market

(‘000s 9Lc) Proximo takes over all distribution Acquisition of Proximo starts to distribute 1800 of Jose Cuervo brands Three Olives Tequila in U.S. and Canada Leading spirits Proximo 16,038 distributor Spirits founded for decades

600

20072007 200820082009 2010 2011 2012 20132013 20142014 2015 2016 2017 20182018 20192019 20202020

Target is to selectively replicate “own distribution” model as market and scale allow

Source: Company Information

15 Route-to-Market control was key to U.S. success

Sales Turnaround Story in the U.S.: Jose Cuervo Case Study

Key Turnaround Initiatives

Since ProximoSince took Proximo over the took distribution over the 1 Enhancing brand health of Jose Cuervodistribution from of Diageo, Jose Cuervo volume from 2 Focused recruitment on 22-34 year old consumers grewDiageo, 7% 2015 volume vs. grew 2014 8% 2014 to 3 2019 (CAGR). Increased focus on Jose Cuervo Especial silver and Jose Cuervo Tradicional.

Volume Impact Since Proximo Took Over Distribution in the U.S. (‘000s 9Lc) (8.6%) Proximo takes over +8.0% distribution in U.S. 4,250 in July 2013 4,000 3,750 3,500 3,250 3,000 2,750 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Jose Cuervo Especial (Volume) Jose Cuervo Especial Trend (%)

Tequila Category Y-o-Y Growth (1) 5% 5% 6% 4% 5% 7% 7% 7% 10%

Jose Cuervo Brand (2) (5%) (4%) (0.4%) (10%) 6% 22% 8% (7%) 13%

Source: Company information, Internal information. Notes: 1. Considers IWSR volume for U.S. tequila category growth Y-o-Y 2. Refers to Y-o-Y growth rate

16 Track record of sustainable growth

Volume Net Sales (000s of 9 Liter Cases) (Ps$MM)(1)

23,655 22,317 20,424 20,491 21,279 35,036 18,248 17,274 28,158 29,705 24,396 25,958 18,475 15,314

2014A 2015A 2016A 2017A 2018A 2019A 2020A 2014A 2015A 2016A 2017A 2018A 2019A 2020A

EBITDA(2) and Margin (Ps$MM) Margin 23.9% 26.3% 24.8% 27.6% 21.6% 20.4% 21.7%

7,161 7,607 6,040 6,074 6,096 4,864 3,659

2014A 2015A 2016A 2017A 2018A 2019A 2020A

Source: Company combined financials statements, Company information Notes: 1. 2015A Considers pro forma 10 months of Bushmills 2. EBITDA calculated as net income plus interest expense, income tax expense and depreciation and amortization, less gain on sale of joint venture available for sale, interest income, foreign exchange loss (gain), net, and equity method in joint venture

17 Superior growth to Spirit peers

Top line and profitability performance – 2015A-2020A CAGR (Fiscal Years, in Reporting Currency)

13.7%

1.7% 1.4% 1.4% 1.2% Net Net Sales

-0.3%

8.3% 7.3% 4.5% 1.2%

-5.6%

-7.0% Operating Profit Operating Cuervo

Source: Company Audited Financial Statements and most recent publicly available annual financial statements for our peers for the 2015 to 2020 periods. We have included the information presented in this chart for illustrative purposes only and we cannot assure you of the accuracy or comparability of our peers’ financial statements. Operating profit may be measured differently by our peers for many reasons, including the fact that entities may differ in their application of accounting principles.

18 Value of Heritage and Corporate Governance

A True Mexican Success Story Lasting Over 250 Years Supported by Robust Corporate Governance

1758 2019 Ownership Independent Board

1795 First license ever to sell tequila 14% 37% 63% 1812 Oldest distillery in Mexico 86%

1852 First export to the U.S. Beckmann Family Independent Public Float Non-Independent

1880 First distiller to bottle tequila in glass bottles • Led by the 11th generation of the Beckmann family

1945 Margarita invented using Jose Cuervo tequila • Independent and experienced Board of Directors

Selected Medals and Awards • Experienced management team, with over 140 years of combined experience leading Cuervo

Madrid London Spain Barcelona Rome Rio de Janeiro (1907) (1910) (1909) (1907) (1912) (1923) (1923)

19 Financial Results

20 2020 Income Statement

Twelve months ended Twelve months ended Year over year variance December 31, 2020 December 31, 2019 (Figures in millions, except per share amounts) (U.S. $)(1) (Pesos) % of net sales (Pesos) % of net sales $ % Net sales 1,756 35,036 29,705 5,331 17.9

Cost of goods sold 842 16,790 47.9 14,039 47.3 2,751 19.6

Gross profit 915 18,246 52.1 15,666 52.7 2,580 16.5

Advertising, marketing and promotion 335 6,688 19.1 6,425 21.6 263 4.1

Distribution 69 1,380 3.9 1,041 3.5 339 32.5

Selling and administrative 169 3,377 9.6 2,950 9.9 428 14.5

Other (income), net (5) (92) -0.3 (160) -0.5 68 (42.7)

Operating Income 346 6,893 19.7 5,410 18.2 1,482 27.4

Financing Results 2 38 0.1 263 0.9 (224) (85.4)

Profit before income taxes 344 6,854 19.6 5,147 17.3 1,707 33.2

Total income taxes 85 1,702 4.9 1,430 4.8 273 19.1

Consolidated net income 258 5,152 14.7 3,718 12.5 1,434 38.6

Non-controlling interest 0 6 0.0 6 0.0 NM NM

Controlling net income 258 5,146 14.7 3,712 12.5 1,434 38.6

Depreciation and amortization 36 714 2.0 685 2.0 29 4.2

EBITDA 381 7,607 21.7 6,096 20.5 1,512 24.8

(1) U.S. dollars translated at 19.95 Mexican pesos solely f or the conv enience of the reader

Source: Consolidat ed financial statements

21 IFRS 16 adoption effect

2020 without IFRS 16 effect 2020 with IFRS 16 effect

Effects in profit (Figures in millions) (Pesos) % of net sales (Pesos) % of net sales from IFRS 16

Operating profit 6,893 20 6,893 20 0

Financial results, net -25 0 38 0 -63

Consolidated net income 5,215 15 5,152 15 63

Depreciation and amortization 554 2 714 2 -160

EBITDA 7,447 21 7,607 22 -160

The Company adopted IFRS 16 initially on January 1, 2019, using the modified retrospective approach. Therefore, the cumulativ e effect of adopting IFRS 16 was recognized as an adjustment to the opening balance (increase in assets and liabilities).

22 2020 Statement of financial position

December 31, 2020 December 31, 2019 (Figures in millions) (U.S. $)(1) (Pesos) (Pesos) Assets Cash and cash equivalents 383 7,646 9,628 Trade receivables - Net 462 9,214 9,295 Inventories and Biological assets 576 11,486 10,353 Other Current Assets 164 3,281 2,374 Total current assets 1,585 31,627 31,650

Non-Current Inventories and biological assets 544 10,855 7,710 Property, plant and equipment - Net 510 10,169 6,945 Intangible assets 774 15,447 14,230 Goodw ill 345 6,891 6,253 Right-of-use assets 118 2,352 2,046 Deferred income taxes 118 2,357 1,314 Other non-current assets 95 1,884 577 Total non-current assets 2,504 49,955 39,075 Total assets 4,090 81,582 70,725

Liabilities Senior-Notes, Short-term 2 49 46 Trade payables 154 3,062 2,183 Related parties 8 170 68 Lease liabilities 31 617 446 Other accounts payable 241 4,810 3,945 Dividends payable Total current liabilities 437 8,708 6,687

Long-term Senior Notes 497 9,907 9,345 Lease liabilities 92 1,844 1,703 Environmental reserve 6 126 118 Other long-term liabilities 25 508 191 Deferred income taxes 288 5,743 4,089 Total non-current liabilities 909 18,129 15,445 Total liabilities 1,345 26,837 22,133 Stockholders’ equity attributable to Controlling interest 2,740 54,666 48,520 Non-controlling interest 4 79 73

Total stockholders’ equity 2,744 54,745 48,592 Total liabilities and stockholders’ equity 4,090 81,582 70,725

(1) U.S. dollars translated at 19.95 Mexican pesos solely f or the conv enience of the reader

23 2020 Summarized Cash flow statement

Twelve months ended December 31, 2020 Twelve months ended December 31, 2019 (Figures in millions)

(U.S. $)(1) (Pesos) (Pesos)

Operating activities:

Income before income taxes 344 6,854 5,147 Net cash from operating activities 188 3,746 2,369

Investment activities: Net cash used in investing activities -254 -5,070 -1,758

Financing activities:

Net cash used in financing activities -66 -1,318 -2,609 Net decrease in cash and cash equivalents -132 -2,642 -1,998 Effects of exchange rate change on cash 32 647 -401

Cash and cash equivalents:

At beginning of the period 483 9,628 12,028

At end of period 383 7,646 9,628

(1) U.S. dollars translated at 19.95 Mexican pesos solely f or the conv enience of the reader

24 1Q21 Financial Results Update

First quarter ended March First quarter ended March Year over year 31, 2021 31, 2020 variance Consolidated Income Statement - Summary % of net % of net (Pesos) (Pesos) % sales sales (Figures in millions) Volume (000's 9l Cases) 4,821 ** 3,363 ** 43.4 Net sales 7,168 100 5,205 100 37.7 Gross profit 3,843 53.6 2,689 51.7 42.9 EBIT 1,683 23.5 513 9.9 227.9 EBITDA 1,881 26.2 688 13.2 173.4 Net income 1,234 17.2 698 13.4 77.0

Consolidated Statements of Financial First quarter First quarter Position & Cash Flow - Summary Year over year ended March 31, ended March 31, variance 2021 2020

(Pesos) (Pesos) % (Figures in millions) Cash and cash equivalents 10,953 9,862 11.1 Total financial debt 13,476 11,831 13.9

Net debt/EBITDA 0.29x 0.32x (9.4)

Net cash from operating activities 686 (30) **

Source: Consolidat ed financial statements as of March 31, 2021

25 Investor relations contact

Mariana Rojo [email protected]

Alfredo Rubio [email protected]

Sebastián Castillo [email protected]

26