(Presentation Q4 FY26 Earnings Call)

F o r t h e t h r e e - m o n t h s a n d y e a r - e n d e d J u n e 3 0 , 2 0 2 6

A u g u s t 2 7 , 2 0 2 6

TSX: CSW.A and CSW.B

FLORENCE TRESARRIEU

President & CEO

JUAN ALONSO

Vice-President & CFO

4

• 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", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions.

• Forward-looking statements are not guarantees of future performance. They involve risks and uncertainties, including, but not limited to, the impact of competition, the impact and successful integration of acquisitions, business interruption, trademark infringement, consumer confidence and spending preferences, regulatory changes, general economic conditions, and the Company's ability to attract and retain qualified employees. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

• Accordingly, readers should not place undue reliance on forward-looking statements. These factors are not intended to represent a complete list of the factors that could affect Corby. Additional factors are noted elsewhere in this presentation.

• This presentation contains certain information that is current as of August 26, 2026. Events occurring after that date could render the information contained herein inaccurate or misleading in a material respect. Corby will provide updates to material forward-looking statements, including in subsequent news releases and its interim filings.

• Additional information regarding Corby, including its Annual Information Form and Management's Discussion and Analysis, are available on SEDAR at https://www.sedarplus.com

  
  
  
  
  
  
  

  Record full-year revenue in FY26 (+10% reported / +11% organic1)

  • Strong sales execution across RTDs and spirits drove share gains portfolio-wide, supported by the de-shelving of US-origin products.

  • Earnings outpaced revenue growth, as disciplined investment in key brands offset RTD-skewed mix and unfavourable spirits' portfolio and channel impact.

    RTD represents 40% of revenue, positioning Corby as a leading Canada-wide player outpacing category growth, fueled by Ontario's RTM modernization and Western expansion

    Solid cash flow generation; attractive long-term shareholder value creation

  • Strong balance sheet with Net Debt to Adjusted EBITDA1 ratio of 1.3x.

  • Quarterly dividend of $0.25 per share declared, up 4% vs the prior quarter.

  • 1Y Total Shareholder Return3 of 19% as at June 30, 2026.

    Sale of Lamb's Rum Brand for $39.2M on August 5, 2026, reflecting our disciplined portfolio management strategy

    Renewal of Representation Agreement with Pernod Ricard on August 26, 2026

  • 3-year renewal (to September 2029) of exclusive Canadian rights to represent PR brands (with potential automatic renewal for a further two years), including an $18.7M upfront fee payable on October 1, 2026.

1. See "Non-IFRS Financial Measures" in Corby's Q4 FY26 MD&A

2. British Columbia General Employees' Union

5 3. Sum of change in TSX: CSW.A closing price from June 30, 2025, to June 30, 2026, and total dividends paid per share in between, divided by TSX: CSW.A closing price on June 30, 2025

S E C T I O N 1

ACQUIRED MAY 2024

Sustained by strong innovation and market expansion

1. LCBO SOD (July 1st 2025 - June 6th 2026) - Retail $ value

2. ACD (R12 June '26) - Nude Brands (Nude + Slappy's brands acquired in 24') 9L case volume Western Canada

7 (3) ACD (R12 June '26) + LCBO SOD (July 1st 2025 - June 6th 2026) - 9L case volume (Ontario data unavailable via ACD thus supplemented with LCBO's SOD data)

Continue to gain share in spirits

• Leveraging best-in-class brand activation and excellence in commercial execution

• Building on impactful innovative launches to deliver roughly one-third of our annual revenue growth

• Continuously improve efficiency and effectiveness in each $ invested in advertising

  Accelerate penetration in fastest growing categories

• Extend Cottage Springs' national footprint while re-igniting Nude and scaling the next wave of RTD brands

• Expand our position into Western provinces and in the dynamic Tequila category

  Continue to grow value ahead of volume

• Targeted price increase approach to protect margins, while adapting to regulatory changes and market dynamics

• Further enhance promotional efficiency using our internal AI-based tool to optimize spend and maximize ROI

  Dynamic portfolio management

• Explore strategic and accretive acquisitions of brands competing in fast growing segments and opportunistic disposals of non-core assets in less attractive segments

  Targeted expansion of export business in key markets

• Focused approach with regional activations to embed J.P. Wiser's in local culture

8

S E C T I O N 2

11

O4 earnings continued to outpace revenue growth, reflecting diligent cost management

Revenue

@

Adj. Earnings from Operations'

S11.8m

-

Adj. Net Earnings'

$0.26

per shore

(reported 0.23)

Reported Organic1

Reported Adjusted1

Reported Adjusted1

-1%

Flat

+4%

+3%

+4%

-1%

'i?7

"

Cosh from

Operating Activities

+$2.2m vs Q4 FY25

Q4 Dividend declared

$0.2T

+ct per share / +4%

vs Q3 FY26

Three-month period ended June 30, 2026 vs. Last Year / 1. See "Non-IFRS Financial Measures" in Corby's Q4 FY26 MD&A

•

Domestic

Case Goods

$57.7 million

(81% of NS)

Reported

-3%

Organic1

-2%

Unfavorable LCBO order phasing

(orders pulled forward to Q3 ahead of ERP system upgrade)

• Offset by RTD growth from LCBO price changes and RTM modernization, and Spirits market share gains from reduced US-origin competition

Net

•

Commissions

$7.3 million

(10% of NS)

Reported

-5%

•

Impacted by softer performance from

imported spirits, RTDs and wines Wines portfolio commission lapping a higher comparison basis in FY25

• Partially offset by the addition of the CDMI RTD portfolio

Export

Case Goods

$5.2 million

(7% of NS)

•

Reported

+37%

Strong U.S. and U.K. shipment growth

vs. prior year, which was unfavorably impacted by phasing-related supply disruption

12

Three-month period ended June 30, 2026 vs. Last Year / 1. See "Non-IFRS Financial Measures" in Corby's Q4 FY26 MD&A

$1.23

+15%

ADJUSTED EPS1

$1.17

+22%

REPORTED EPS

• Strong financial performance despite market volatility, with continued value share gains across most categories and RTDs capitalizing on new channel expansion in Ontario and Western Canada

• Strategic investments in key brands balanced with disciplined cost management, partially offset RTD skewed gross margin and increased costs on domestic spirits.

Fiscal year ended June 30, 2026 vs. fiscal year ended June 30, 2025 / 1. See "Non-IFRS Financial Measures" in Corby's Q4 FY26 MD&A

14 2. includes Sales, Marketing and Administrative expenses, Cost of Sales and Other income and expenses

Record full-year revenue, up 1O°7+ vs lost year

Domestic

Case Goods

$220.7 million

(81% of NS)

•

Reported

+12%

Organic1

+13%

RTD business expansion accelerated

across key provinces, reinforce category leadership

• Spirits market share gains benefitting from U.S. product delistings

Net

Commissions

$29.4 million

(11% of NS)

•

Reported

-4%

Wines portfolio lapping a strong prior-

year comparison

• Partially offset by CDMI RTD portfolio addition

Export

Case Goods

$18.2 million

(7% of NS)

•

Reported

+22%

New channel pipeline fill in strategic

Eastern Europe markets

• Strong J.P. Wiser's growth in the U.S.

• Enhanced value conversion in the UK through value engineering

15

16

$ mCAD

YTD FY25

YTD FY26

$ Change

Net cash / (debt), beginning of period

(105.8)

(91.0) +14.8

Net earnings adjusted for non-cash items 62.4 67.5 +5.1

Net change in non-cash working capital balances (5.7) (12.4) (6.7)

Dividend payout ratio (Cash)2

Dividend payout ratio (Earnings)3

6.2%

6.7%

6.6%

FY24

FY25

Dividend Yield4

FY26

Net Debt / Adjusted EBITDA1

• Solid balance sheet demonstrating company financial health, improving Net Debt / Adjusted EBITDA to

  1.3x vs 1.4x in Q4 FY25.

• Cash flows from Operating Activities was heavily impacted by higher tax payment requirements compared to FY25 due to higher tax instalment requirements and the lapping of refunds received during FY25 related to previous years.

• Q4 FY26 dividend increased 9% vs Q4 FY25, illustrating sustainable shareholder returns as well as continued confidence in the Company's outlook.

1. See "Non-IFRS Financial Measures" in Corby's Q4 FY26 MD&A / 2. R12 dividends paid divided by Cash Flow from Operating Activities

3. R12 dividends paid divided by reported Net Earnings / 4. R12 dividends paid divided by average closing price of TSX: CSW.A during related fiscal year period

72%

80%

Corby's FY27 priorities remain unchanged: drive profitable growth, preserve financial strength, and support a sustainable dividend

Corby remains confident in its strategy and its ability to deliver earnings growth in FY27, despite a more challenging comparison base following the strong performance achieved in FY26:

• RTD Portfolio: Unlocking further growth across Canada, led by strong ABG traction

• Spirits Market Share Gains: Ambition to continue share growth in a declining market, though gap to market expected to narrow as US products return to shelves

• Resilience: Strong positioning in a dynamic market, leveraging a diversified portfolio, leading brands, local footholds, top-tier marketing, and AI-based prioritization

• RTM Modernization: Agile approach in Ontario to navigate store traffic softness and pricing pressure from minimum price removal, while capturing evolving consumer preferences

• Revenue & Cost Management: Focus on sustaining margins, driving profitable growth, and generating long-term shareholder value

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S E C T I O N 3

1

Largest publicly-listed, multi-beverage alcohol company in Canada with the most 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

support to Corby

3

Clear strategic priorities to continue accelerating our RTD portfolio led by strong ABG traction, while continuing to gain value share in the spirits market (Corby has outpaced the spirits market in value for more than three years)

Operational excellence in commercial execution

1. with a strong track-record of impactful

   innovations, unparalleled marketing capabilities and cost synergies through acquisitions

   Financial consistency reflected in resilient

2. revenue and earnings growth, healthy balance

sheet and strong cash flow generation

supporting attractive dividends

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Questions or looking for more information?

Please reach out to investors.corby@pernod-ricard.com

F O L L O W U S

TSX: CSW.A and CSW.B