1. MillerCoors
LEADING in FMBs

2. 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

3. FMB’s Meet the Needs of Your C-Store Beer Occasions
Shed the Day
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
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.”

4. 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)

5. 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

6. 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

7. 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

8. 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

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

10. 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

11. 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

12. 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
Source: Nielsen Storeview - C-Store - 52WE
White space for high ABV flavors
Source: STR L13wks ending 4/23/16

13. 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 $ price point
Expected velocity will more than compensate for the lower price

14. 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