Corby Spirit And Wine Limited Class A · TSX:CSW.A
Corby Spirit And Wine Limited Class A — Q1 FY26 Earnings Presentation
20 slides from Corby Spirit And Wine Limited Class A's earnings presentation, Nov 14, 2025
Slide 1: Earnings Call Q1 FY26
Earnings Call Q1 FY26 N o v e m b e r 1 4 th, 2 0 2 5 TSX: CSW.A and CSW.B
Slide 2: Summary
SUMMARY S E C T I O N 1 | Market Context S E C T I O N 2 | Q1 FY26 Financial Results S E C T I O N 3 | Why Invest in Corby
Slide 3: Today's speakers
Today ’s speakers NICOLAS KRANTZ President & CEO JUAN ALONSO Vice-President & CFO
Slide 4: Forward-Looking Statement
Forward-Looking Statement ➢ Today’s presentation contains forward-looking statements, including statements concerning possible or assumed future results of operations of Corby Spirit and Wine Limited. Forward-looking statements typically are preceded by, followed by or include the words “believes”,
Slide 5: Strong start to FY26, with record quarterly Revenue and Adjusted EBITDA
Strong start to FY26, with record quarterly Revenue and Adjusted EBITDA Continued spirits market share gains and RTD business expansion, resulted in +16% reported revenue and +9% net earnings growth in Q1 FY26 • Generated the highest quarterly Revenue and Adjusted EBITDA in Corby’s history • Strong
Slide 6: Market Context
SECTION 1 MARKET CONTEXT
Slide 7: Corby saw an acceleration of its share gains in Q1 FY26
Corby saw an acceleration of its share gains in Q1 FY26… Corby reaped the benefit of sales execution plan to capture share from US-origin products removed from shelves MARKET CORBY R31 OTC Value Growth +6.8pts SPIRITS -0.9% +5.9% vs. market +27.2pts RTD +16.5% +43.6% vs. market +19.4pts WINE +0.7% +
Slide 8: Driving resilient growth over R12 in a softer market
… driving resilient growth over R12 in a softer market Corby has consistently outperformed the Canadian market in value for twelve consecutive quarters MARKET CORBY R121 OTC Value Growth +4.3 pts SPIRITS -3.8% +0.5% vs. market +12.8pts RTD +13.0% +25.8% vs. market +10.0pts WINE -2.5% +7.5% vs. marke
Slide 9: Corby outpacing the market in most spirits categories R12
Corby outpacing the market in most spirits categories R12 C A N A D I A N S P I R I T S M A R K E T R E TA I L V A L U E 1646 Spirits Total R12 1 CORBY R121 Retail Value ($m) market Corby Spirits VS MARKET 1100 1011 985 - 3.8 % +0.5% +4.3 pts 554 443 301 286 184 172 VODKA CANADIAN LIQUEURS RUM TEQUI
Slide 10: Corby RTD growth has accelerated over the last 12 months
Corby RTD growth has accelerated over the last 12 months with share gains sustained by strong innovation Specialized RTD route-to-market strategy, gaining penetration in Ontario (ABG) and Western Canada (Nude). Successful turnaround in Western Canada Corby RTD portfolio well-positioned with a strong
Slide 11: Our strategy to generate long-term sustainable growth and value
Our strategy to generate long-term sustainable growth and value Grow portfolio sustainably at a faster rate than the overall spirits market • Supported by best-in-class brand activation and excellence in commercial execution • Impactful innovative launches to deliver roughly one-third of our annual
Slide 12: Q1 FY26 Financial Results
SECTION 2 Q1 FY26 FINANCIAL RESULTS
Slide 13: Record quarterly Revenue and Adjusted EBITDA underpinned by RTD expansion
Record quarterly Revenue and Adjusted EBITDA in FY26 underpinned by RTD business expansion and spirits market share gain acceleration Results also benefitted from LCBO order phasing, expected to normalize in Q2 FY26 Revenue Reported +16% Cash from $75.4m Operating Activities $5.6m +$ 1.9m vs Q1 FY25
Slide 14: Corby's Q1 Revenue was a record $75.4m, +16% year-over-year
Corby’s Q1 Revenue was a record $75.4m, +16% year-over-year • Improved shelf prominence from the Domestic removal of US origin products in key Reported provinces Case Goods +15% • RTD business acceleration $61.3 million • Lapping LCBO labour strike impact LY Net • RTDs capitalizing on the new channe
Slide 15: Strong reported Q1 EPS growth of +9%
Strong reported Q1 EPS growth of +9%, reflecting RTD business acceleration, continued spirits market share gain and purposeful resource management Q1 Q1 % C$m FY25 FY26 change Revenue 65.1 75.4 +16% $0.39 +8% Total operating expenses2 (50.1) (58.9) +18% Earnings from Operations 15.0 16.4 +10% ADJUST
Slide 16: Healthy balance sheet and robust cash flow to support dividend
Healthy balance sheet and robust cash flow to support the sustainability of Corby’s attractive dividend Q1 Q1 $ C$m FY25 FY26 change 55% 92% Net Cash / (Debt), beginning of period (105.8) (91.0) +14.8 Net earnings adjusted for non-cash items 18.8 20.3 +1.5 Dividend payout Dividend payout Net change
Slide 17: Why Invest in Corby
SECTION 3 W H Y I N V E S T I N C O R BY
Slide 18: Diversified portfolio and clear strategy to continue outperforming the market in FY26
With a diversified portfolio and clear strategy, Corby is well positioned to continue outperforming the market in FY26 In a dynamic backdrop, we remain confident in our strategy and ambition to continue gaining market share to drive earnings growth in FY26: • Spirits Market Share Gains: Ambition to
Slide 19: Why invest in Corby?
Why invest in Corby? Largest publicly-listed, multi-beverage alcohol company in Canada with the most 1 comprehensive & diverse portfolio in the industry Close partnership with Pernod Ricard, a global industry leader, bringing strategic advantages, 2 best practices, and operational and financial supp
Slide 20: Thank You
T H A N K YO U Questions or looking for more information? Please reach out to investors.corby@pernod-ricard.com FOLLOW US TSX: CSW.A and CSW.B
Corby Spirit and Wine — Q1 FY26 Earnings Presentation on 6ix