MillerCoors LEADING in FMBs

Bet on FMBs in C-Stores Driven by millennial consumers’ desire for sweet and flavor variety, FMBs are a huge opportunity: FMBs have doubled to $1.4B in C-Stores since 2011 2nd largest Above Premium segment and accelerating! Drive incremental sales – majority of volume sourced from Wine/Spirits Drive a larger basket ring Growing faster than Craft FMB’s are almost 60% larger than Wine in C-Stores and growing faster FMB’s are almost half the size of either Sports Drinks or Water Source: Nielsen C-Stores; (Includes FMB, Alternative Alcohol, Coolers); Nielsen Homescan; PBM 1.8B C-Store transactions

FMB’s Meet the Needs of Your C-Store Beer Occasions Shed the Day Chillin’ @ Home Bring the Beer Transition from “work time” to “my time Alone/small group of family/close friends Beer For Small Party-Fun Social Gathering FMBs appeal to Millennial consumers’ desire for sweet and flavor variety. All three occasions are important: Shed the Day: Singles like Redd’s Wicked, Redd’s and Steel Reserve Alloy Chiilin @ Home: 6pks of Redd’s and Henry’s Hard Soda Bring the Beer: Perfect “Host Gift” 6pks of Redd’s and Henry’s Hard Soda Consumers are choosing FMBs based on flavor profiles, higher ABV and constant “new news.”

FMB Dollar Growth in U.S. C-Stores Both Singles & Multipacks Driving FMB Growth FMB Dollar Growth in U.S. C-Stores Doubled 5Yr CAGR +14% Both Singles and Multipacks are driving FMB growth in C-Stores. Singles represent 2/3rds of dollars and growth +14% over past five years Multipacks are 1/3 of dollars and growing slightly faster at +15% +15% Source: Nielsen C-Stores thru 4/30/16; (Includes FMB, Alternative Alcohol, Coolers)

FLAVOR Singles: 2nd Fastest Segment Growth Outpacing C-Store Beer Category Singles Driving Beer Growth Within Singles, Flavors 2nd Fastest Growing Segment $ % Chg # Items 8.1 +10.5% 9.7 (6.0) 16oz Flav & Indul +17.5% 7.9 +6.4% 12.1 Singles are driving growth in the C-Store Beer Category, +8.4% YTD Within Singles, “Flavors” where FMBs play, remain a hot segment growing +11% YTD. And the average C-Store carries over 15 FMB items. +6.3% 6.2 (1.1) -2.4% 4.6 Average C-Store Stocks 15.2 FMB Singles Source: Nielsen U.S. C-Store; YTD 4/30/16

FMBs Are Fastest Growing C-Store Beer Multipack Segment 3X Craft Multipack Segments: Source: Nielsen U.S. C-Store, Latest 13 W/E 4/16/16

24% higher than the beer category FMB MPs Growing Faster than Craft & Deliver a Higher Basket Ring FMB MP $ Sales Growth +24% (Craft +8%) 24% higher than the beer category Same in both And, their FMB multipack baskets drive higher rings. Source: Nielsen C-Stores; YTD 4/30/16; PBM 1.8B C-Store transactions

2% of all Craft SKUS deliver 58% of all volume Busting the Myth on Craft Craft FMB 40 skus 8,969 skus 34 skus $308M 115 skus $307M $389M 55 skus $220M 569 skus $133M $71M $ Per SKU: $100K $ Per SKU: $772K Note: bottom 1,000 Craft SKUs make up 0.01% of sales Source: Nielsen Scan Data, Total US xAOC+Conv, Latest 13 W/E 12/5/15

Ensure You Carry Top Selling FMB Multipacks Source: Nielsen U.S. C-Store; YTD 4/30/16

MillerCoors Has Taken the Leadership Position in FMBs C-Store Dollar Share of FMB by MFR Differentiated brand propositions Redd’s Apple Ale – owning apple; sweet alternative for beer occasions Redd’s Wicked – bold, yet refreshing flavor for high energy occasions Steel Reserve Alloy Series – affordable innovation in economy category Henry’s Hard Soda – refreshing hard sodas with differentiated flavors Leading the way in marketing investment Jan-Oct 2015 Redd’s media investment beat Rita’s by nearly 40%!** * Source: Nielsen U.S. C-Store ** Source: Kantar Media

Redd’s Wicked: Bold, refreshing flavors at higher ABV Redd’s Wicked Named in Top 10 Convenience Store CPG Launches in 2015 Beating Competition with C-Store Singles Wicked Apple singles have higher velocity than Rita’s in convenience Source: Nielsen TTL US Conv Case/TDP by Brand Franchise Source: IRI Market Advantage 2015 Wicked Franchise Volume per Facing Capturing Incremental C-Store Sales +43% Source: STR L13wks ending 4/23/16 Source: Nielsen Homescan

White space for high ABV flavors Steel Reserve Alloy Series Launched in 2013 to capitalize on the Economy FMB segment White space opportunity with first mover advantage for an Economy FMB Steel Reserve Alloy Series (SRAS) was launched to trade up Economy drinkers The Idea: Bring flavor & innovation to the Economy category Consumer Target: The budget conscious higher ABV drinker who occasionally enjoys flavored beverages Retail Category: Independent C-Stores; Singles (24oz) Business Objective: Help MillerCoors reach position as #1 in the FMB category Point of Differentiation: #1 Economy FMB Source: Nielsen Total US xAOC+Conv, Malt Based Category 2013 vs 2012 Volume Change Source: MillerCoors concept test among high ABV Economy drinkers Brand outpacing key competitors in the FMB category, +81% vs. prior year Distribution: C-Stores average 2.35 SRAS flavors on shelf, yet velocity increases for each additional SKU sold FMB Share 4.1 10.1 16.3 5.9 Source: Nielsen Storeview - C-Store - 52WE 5.4.13 White space for high ABV flavors Source: STR L13wks ending 4/23/16

Henry’s Hard Soda Is a Big Idea in an Emerging Segment Targets White Space: Gen X Differentiated, On-Trend Flavors Generation X underserved by FMBs and a big opportunity 35MM Gen X TAB consumers Spend 24% more than Millennials Looking for sessionable drinks with interesting flavors Soda flavors are very relevant for Gen X Big Marketing Push Will Reach 90% of Target in Year One Pricing Aligned with Proposition First hard soda to advertise nationally Through-the-line campaign complemented by robust digital, social media, out of home, POS, sampling and PR Top entertainment properties will reach men and women throughout the year (network, cable, social) More sessionable, with lower ABV, than competition Premium FMB pricing vs. super-premium Nearly 11X more volume is sold at $8.99 price point than the $10.49+ price point Expected velocity will more than compensate for the lower price

Bet on FMBs and MillerCoors Capitalize on the FMB opportunity Has your FMB space doubled? Have you created a Flavor Singles section? Carry top items? Do you have a 16oz Flavor & Indulgence Shelf? Do you have an FMB Multipack section? Top items? Ensure you carry high-opportunity MillerCoors FMB SKUs Redd’s Redd’s Wicked – Top new C-Store item introduced in 2015 Henry’s Adding SRAS flavors increases velocity Retailer calls to action