Slide 1: First Quarter of Fiscal 2027
First Quarter of Fiscal 2027 September 2, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements, estimates, and projections that are “forward-looking statements” as defined under U.S. federal securities laws. Words such as “aim,” “ambition,” “anticipate,” “aspire,” “believe,” “can,” “continue,” “could,” “envision,” “estimate,” “e
Slide 3: Highlights: First Quarter of Fiscal 2027
Highlights: First Quarter of Fiscal 2027 Innovation Continued launch of Jack Daniel’s (1)% (-1% organic1) Tennessee Blackberry Net sales decline driven by the end of the Korbel in international markets relationship and the declines in used barrel sales, partially offset by the growth of Ready-to-Dri
Slide 4: First Quarter of Fiscal 2027 Results
First Quarter of Fiscal 2027 Results Reported Reported Acquisitions Other Foreign Organic ($ in millions, Change & Items1 Exchange Change2 except per (%) Divestitures (+/-) (+/-) (%) share amount) (+/-) Net Sales $911 (1)% 2% (1)% (1)% (1)% Gross Profit $549 (1)% 1% —% 1% 1% Advertising Expenses $11
Slide 5: Net Sales Across Categories
Net Sales Across Categories ReportedREPORTED Organic ORGANIC Q1 F27 1 Q1 F27 Q1 F26 Q1 F26 —% —% WHISKEY Whiskey Whiskey WHISKEY —% —% Jack Daniel’s Jack Daniel’s JACK DANIEL’S —% JACK DANIEL’S —% Tennessee Tennessee TENNESSEE WHISKEY (4)% TENNESSEE WHISKEY (4)% Whiskey Whiskey WOODFORD —% Woodford
Slide 6: Net Sales Across Geographic Aggregations
Net Sales Across Geographic Aggregations Q1 F27 Q1 F26 Q1 F27 Q1 F26 U.S. Developed International REPORTED CHANGE ORGANIC CHANGE1 REPORTED CHANGE ORGANIC CHANGE1 —% (3)% (2)% (6)% (8)% (8)% (8)% (9)% Emerging Travel Retail REPORTED CHANGE ORGANIC CHANGE1 REPORTED CHANGE ORGANIC CHANGE1 25% 20% 11% 9
Slide 7: Gross Margin Expansion of 40 Basis Points
Gross Margin Expansion of 40 Basis Points Largely driven by timing of lower costs 0.5% 1.8% (0.1)% (0.4)% 60.2% 59.8% (1.4)% Q1 F26 Cost Acquisitions Other Price/Mix Foreign Q1 F27 & Items1 Exchange Divestitures 1 “Other items” includes “JDCC transition.” See “Non-GAAP Financial Measures and Reconci
Slide 8: Fiscal 2027 Outlook
g Organic operatin 1 Organic net sales 1 income to be approximately to decline in the flat. 3% to 5% range. Capital Effective tax rate expenditures in the range of in the $60 to $70 20% to 22%. million range. 1 See appendix for Non-GAAP measure definitions and additional information. 8
Slide 9: Appendix
Slide 10: Definitions
Definitions The following definitions include aggregations and other metrics used throughout this presentation. Geographic Aggregations Aggregated markets as defined by the International Monetary Fund (IMF) Markets that are “advanced economies” as defined by the IMF, excluding the United States. Our
Slide 11: Definitions (cont.)
Definitions (cont.) Other Metrics Shipments We generally record revenues when we ship or deliver our products to our customers. In this report, unless otherwise specified, we refer to shipments when discussing volume. Volume is measured on a nine-liter equivalent unit basis (9-Liter cases). This met
Slide 12: Non-GAAP Reconciliation: Q1 F27 vs. Q1 F26
Non-GAAP Financial Measures and Reconciliation: Q1 F27 vs. Q1 F26 Use of Non-GAAP Financial Information.We report our financial results in accordance with GAAP. Additionally, we use some financial measures in this presentation that are not measures of financial performance under GAAP. These non-GAAP
Slide 13: Non-GAAP Reconciliation: Q1 F27 vs. Q1 F26 (cont.)
Non-GAAP Financial Measures and Reconciliation: Q1 F27 vs. Q1 F26 (cont.) We use the non-GAAP measure “organic change,” along with other metrics, to: (a) understand our performance from period to period on a consistent basis; (b) compare our performance to that of our competitors; (c) calculate comp
Slide 14: Non-GAAP Reconciliation: Q1 F26 vs. Q1 F25
Non-GAAP Financial Measures and Reconciliation: Q1 F26 vs. Q1 F25 Use of Non-GAAP Financial Information. We report our financial results in accordance with GAAP. Additionally, we use some financial measures in this this presentation that are not measures of financial performance under GAAP. These no
Slide 15: Non-GAAP Reconciliation: Q1 F26 vs. Q1 F25 (cont.)
Non-GAAP Financial Measures and Reconciliation: Q1 F26 vs. Q1 F25 (cont.) • “Foreign exchange.” We calculate the percentage change in certain line items of the statements of operations in accordance with GAAP and adjust to exclude the cost or benefit of currency fluctuations. Adjusting for foreign e
Slide 16: First Quarter of Fiscal 2027 and Fiscal 2026 Reconciliation
First Quarter of Fiscal 2027 and Fiscal 2026 Reconciliation Three months ended July 31, 2026 Acquisitions & Foreign Exchange Reported Other Items1 (+/-) Organic Divestitures (+/-) (+/-) Net Sales (1)% 2% (1)% (1)% (1)% Cost of Sales (2)% 3% (1)% (4)% (5)% Gross Profit (1)% 1% —% 1% 1% Operating Expe
Slide 17: Brand Reconciliation: Net Sales Growth
Brand Reconciliation First Quarter of Fiscal 2027 and Fiscal 2026 Net Sales Growth Three months ended July 31, 2026 Acquisitions & Foreign Exchange Reported Other Items1 (+/-) Organic Divestitures (+/-) (+/-) Whiskey —% —% —% —% —% Jack Daniel’s Tennessee Whiskey —% —% —% —% —% Woodford Reserve —% —
Slide 18: Geographic Reconciliation: Net Sales Growth
Geographic Reconciliation First Quarter of Fiscal 2027 and Fiscal 2026 Net Sales Growth Three months ended July 31, 2026 Acquisitions & Foreign Exchange Reported Other Items1 (+/-) Organic Divestitures (+/-) (+/-) United States (3)% 4% (1)% —% —% Developed International (6)% —% —% (1)% (8)% Emerging
Slide 19: Supplemental Free Cash Flow Information
Supplemental Free Cash Flow Information For the Three Months Ended July 31, 2025 2026 Cash provided by operating activities $160 $173 Additions to property, plant, and equipment (31) (12) Free cash flow1 129 161 $ in millions 1 See “Non-GAAP Financial Measures and Reconciliation” for additional deta
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