Financial Performance - Net sales for the three months ended June 30, 2024, were $3,252.3 million, a slight decrease of 0.4% compared to $3,266.6 million for the same period in 2023[13] - Gross profit increased to $1,329.9 million for the three months ended June 30, 2024, up 9.1% from $1,218.9 million in the prior year[13] - Operating income rose to $599.6 million for the three months ended June 30, 2024, compared to $488.5 million in the same period last year, reflecting a 22.8% increase[13] - Net income attributable to Molson Coors Beverage Company for the three months ended June 30, 2024, was $427.0 million, up 24.7% from $342.4 million in the prior year[13] - The company reported a basic earnings per share of $2.03 for the three months ended June 30, 2024, compared to $1.58 for the same period in 2023, representing a 28.5% increase[14] - Net income for the six months ended June 30, 2024, increased to $635.2 million, up from $419.3 million in the same period last year, representing a growth of 51.5%[21] - Net income for the six months ended June 30, 2024, was $634.8 million, with a net income including noncontrolling interests of $636.2 million[27] - Income before income taxes improved by 26.5% and 80.9% for the three and six months ended June 30, 2024, respectively, due to increased net pricing and cost savings initiatives[127] Cash and Liquidity - Cash and cash equivalents increased to $1,647.3 million as of June 30, 2024, compared to $868.9 million at the end of 2023, indicating strong liquidity[19] - The balance of cash and cash equivalents at the end of the period was $1,647.3 million, compared to $960.9 million at the end of the previous year[21] - The company had a net positive cash position of $61.7 million as of June 30, 2024, compared to $59.0 million as of December 31, 2023[62] - Total cash and cash equivalents increased to $1,647.3 million as of June 30, 2024, compared to $960.9 million as of June 30, 2023[138] Assets and Liabilities - Total assets as of June 30, 2024, were $27,394.2 million, up from $26,375.1 million at the end of 2023, reflecting growth in the asset base[19] - Total current assets increased to $2,942.2 million from $1,814.3 million as of December 31, 2023, representing a significant growth[151] - Total current liabilities rose to $3,760.7 million, up from $3,048.4 million as of December 31, 2023[151] - Long-term debt increased to $6,161.5 million as of June 30, 2024, compared to $5,312.1 million at the end of 2023, indicating a rise in leverage[19] - Long-term debt increased to $6,108.0 million from $5,257.6 million as of December 31, 2023, indicating a rise in leverage[151] Expenses and Cost Management - Marketing, general and administrative expenses for the three months ended June 30, 2024, were $728.5 million, a slight decrease of 0.9% from $734.9 million in the previous year[100] - Cost of goods sold decreased by 6.1% for the three months ended June 30, 2024, attributed to lower financial volumes and a 2.1% improvement in cost of goods sold per hectoliter[110] - Marketing, general and administrative (MG&A) expenses decreased by 0.9% for the three months ended June 30, 2024, primarily due to lower incentive compensation expenses[112] Shareholder Returns - The company declared dividends totaling $90.1 million during the second quarter of 2023[23] - The company declared dividends of $0.44 per share on May 16, 2024, and $0.88 per share for the six months ended June 30, 2024[33] - The share repurchase program authorized up to $2.0 billion of Class B common stock, with $263.3 million repurchased in the three months ended June 30, 2024[34] Market Performance - The Americas segment reported net sales of $2,575.9 million for the three months ended June 30, 2024, compared to $2,621.7 million in the same period of 2023[93] - EMEA&APAC segment net sales increased to $683.3 million for the three months ended June 30, 2024, from $649.0 million in the prior year[93] - Financial volume in hectoliters decreased by 4.1% to 22.430 million hectoliters for the three months ended June 30, 2024, compared to 23.385 million hectoliters in the same period last year[100] - Americas net sales decreased by 1.7% for the three months ended June 30, 2024, driven by lower financial volumes and unfavorable foreign currency impacts[118] - EMEA&APAC net sales increased by 5.3% for the three months ended June 30, 2024, driven by favorable price and sales mix as well as higher financial volumes[124] Future Outlook - The company anticipates continued focus on cost reduction strategies and market share trends in future operations[10] - Future projections include expectations for funding capital expenditures and maintaining effective tax rates, with a commitment to environmental initiatives[10] - The company plans to acquire the remaining 49.9% ownership interest in Cobra Beer Partnership, Ltd. in the third quarter of 2024[43] Tax and Compliance - The effective tax rate for the three months ended June 30, 2024, was 24%, up from 22% in the same period of 2023, primarily due to the recognition of tax expense items[80] - The company is required to maintain a maximum leverage ratio of 4.00x, and as of June 30, 2024, it was in compliance with all debt covenants[66]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Exact nam ...

NEWS RELEASE Molson Coors Beverage Company Reports 2024 First Quarter Results Delivers First Quarter Top-Line Growth of 10.7% with Growth Across Both Business Units First Quarter Income Before Income Taxes Increases 160.5%, while Underlying Income Before Income Taxes Increases 68.8% on a Constant Currency Basis Reaffirms 2024 Full Year Guidance for Top-Line and Bottom-Line Growth Golden, Colorado and Montréal, Québec – April 30, 2024 – Molson Coors Beverage Company ("MCBC," "Molson Coors" or "the Company") ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Ex ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Exact ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Exact name of registrant as specified in its charter) Delaware (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Exact nam ...

Table of Contents (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Company (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________ ...

[PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) For the six months ended June 30, 2022, Molson Coors reported decreased net income and operating cash flow, driven by higher costs and expenses, with cash primarily used for debt repayment and capital expenditures [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) In Q2 2022, net sales slightly decreased while net income attributable to the company significantly dropped by 87.8% to $47.3 million, reflecting a broader decline in profitability for the six-month period despite net sales growth Consolidated Statements of Operations Highlights (in millions, except per share data) | Metric | Q2 2022 | Q2 2021 | % Change | H1 2022 | H1 2021 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Sales | $2,921.7 | $2,939.4 | (0.6)% | $5,136.3 | $4,837.8 | 6.2% | | Gross Profit | $820.0 | $1,271.5 | (35.5)% | $1,747.8 | $2,002.5 | (12.7)% | | Operating Income | $114.5 | $580.8 | (80.3)% | $338.9 | $758.0 | (55.3)% | | Net Income (attributable to MCBC) | $47.3 | $388.6 | (87.8)% | $198.8 | $472.7 | (57.9)% | | Diluted EPS | $0.22 | $1.79 | (87.7)% | $0.91 | $2.17 | (58.1)% | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets slightly decreased to $27.39 billion, with cash and equivalents declining, while total debt was reduced and total equity remained stable Balance Sheet Summary (in millions) | Metric | June 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $442.1 | $637.4 | | Total current assets | $2,871.9 | $2,778.7 | | Total assets | $27,387.9 | $27,619.0 | | Total current liabilities | $3,514.3 | $3,622.2 | | Long-term debt | $6,557.8 | $6,647.2 | | Total liabilities | $13,785.1 | $13,954.9 | | Total equity | $13,602.8 | $13,664.1 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2022, net cash from operating activities decreased to $666.8 million, while cash used in investing and financing activities significantly increased due to higher capital expenditures and debt repayments Cash Flow Summary for Six Months Ended June 30 (in millions) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $666.8 | $748.5 | | Net cash used in investing activities | $(369.5) | $(200.1) | | Net cash used in financing activities | $(469.8) | $(3.9) | | Net decrease in cash and cash equivalents | $(172.5) | $544.5 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes provide details on accounting policies, segment performance, and financial instruments, highlighting dividends, share repurchases, an impairment loss, a significant litigation liability, and debt repayment - The company's reporting segments are **Americas** and **EMEA&APAC**[29](index=29&type=chunk) - A cash dividend of **$0.38 per share** was declared on May 19, 2022, and paid in June, with total dividends declared for H1 2022 at **$0.76 per share**[35](index=35&type=chunk) - A share repurchase program of up to **$200 million** was approved, under which the company repurchased **510,000 shares** for an aggregate value of **$26.2 million** in H1 2022[36](index=36&type=chunk) - In Q1 2022, an impairment loss of **$28.6 million** was recognized related to the Truss joint venture asset group within the Americas segment[60](index=60&type=chunk) - The company repaid its **$500 million** 3.5% USD notes upon maturity on May 1, 2022[79](index=79&type=chunk) - An accrued liability of **$56.0 million** was recorded as of June 30, 2022, reflecting the best estimate of probable loss from the Stone Brewing Company trademark infringement lawsuit[101](index=101&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the Q2 2022 performance to significant cost inflation, a labor strike, and the Russia-Ukraine conflict, leading to a substantial drop in gross profit and operating income despite some sales mix improvements, while liquidity remains adequate [Items Affecting Reported Results](index=28&type=section&id=Items%20Affecting%20Reported%20Results) Reported results were significantly impacted by persistent cost inflation, a labor strike at the Montreal brewery, the Russia-Ukraine conflict, and specific liabilities for litigation and joint venture impairment - The company continued to experience significant cost inflation in material, transportation, and energy, which is expected to continue for the remainder of **2022**[116](index=116&type=chunk) - A labor strike by approximately **400 unionized employees** at the Montreal/Longueuil, Québec brewery and distribution centers from late March to June 2022 adversely affected business and operations in **Q2 2022**[118](index=118&type=chunk) - A liability of **$56 million** was accrued in March 2022 related to potential losses from the ongoing Keystone litigation case[119](index=119&type=chunk) - The Russia-Ukraine conflict negatively impacted results, leading to the suspension of exports to Russia and termination of brand licenses, and drove further increases in material, transportation, and energy costs[122](index=122&type=chunk)[123](index=123&type=chunk) [Consolidated Results of Operations](index=30&type=section&id=Consolidated%20Results%20of%20Operations) Consolidated net sales for Q2 2022 slightly decreased due to lower financial volume and unfavorable currency, while gross profit and operating income significantly declined due to increased cost of goods sold from commodity losses and inflation Drivers of Change in Net Sales (Q2 2022 vs Q2 2021) | Segment | Financial Volume | Price and Sales Mix | Currency | Total | | :--- | :--- | :--- | :--- | :--- | | Consolidated | (4.6)% | 6.8 % | (2.8)% | (0.6)% | | Americas | (8.1) % | 6.4 % | (0.6) % | (2.3) % | | EMEA&APAC | 6.2 % | 14.3 % | (13.3) % | 7.2 % | - Worldwide brand volume decreased **1.8%** in **Q2 2022**, while financial volume decreased **4.6%**, primarily due to cycling U.S. distributor inventory recovery and lower shipments in Canada from the brewery strike[136](index=136&type=chunk) - Cost of goods sold per hectoliter increased **35.7%** in **Q2 2022**, with changes to unrealized mark-to-market commodity positions accounting for approximately **66%** of the increase[140](index=140&type=chunk) - MG&A expenses increased **3.8%** in **Q2 2022** due to higher G&A expenses and increased marketing investment[141](index=141&type=chunk) [Segment Results of Operations](index=33&type=section&id=Segment%20Results%20of%20Operations) In Q2 2022, the Americas segment experienced declines in net sales and pre-tax income due to lower volume, while the EMEA&APAC segment saw net sales growth but a decrease in pre-tax income due to cost inflation and currency impacts Americas Segment Results (Q2 2022 vs Q2 2021) | Metric | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $2,367.4M | $2,422.4M | (2.3)% | | Income before income taxes | $348.0M | $428.2M | (18.7)% | | Financial Volume (HL) | 16.536M | 17.986M | (8.1)% | EMEA&APAC Segment Results (Q2 2022 vs Q2 2021) | Metric | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $558.2M | $520.5M | 7.2% | | Income before income taxes | $34.4M | $47.4M | (27.4)% | | Financial Volume (HL) | 6.207M | 5.844M | 6.2% | [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains adequate liquidity, with H1 2022 operating cash flow decreasing to $666.8 million, while cash was used for significant debt repayment and increased capital expenditures - Net cash from operating activities for **H1 2022** was **$666.8 million**, a decrease of **$81.7 million** from **H1 2021**, primarily due to lower net income[167](index=167&type=chunk) - Net cash used in financing activities for **H1 2022** increased to **$469.8 million**, mainly due to the repayment of **$500 million** 3.5% USD notes, higher dividend payments, and share repurchases[169](index=169&type=chunk) - As of **June 30, 2022**, the company had **$1.3 billion** available to draw on its **$1.5 billion** revolving credit facility[175](index=175&type=chunk) - Capital expenditures paid in **H1 2022** totaled **$388.7 million**, an increase of **$143.0 million** from **H1 2021**, due to the timing of capital projects[191](index=191&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no significant changes to its market risks, including interest rate, foreign exchange, and commodity price risks, with hypothetical adverse changes impacting fair values of debt and derivatives - There has been no significant change to the nature and type of the company's market risks since **year-end 2021**[196](index=196&type=chunk) Market Risk Sensitivity Analysis (as of June 30, 2022) | Risk Type | Notional Amount (millions) | Fair Value (millions) | Effect of Adverse Change (millions) | | :--- | :--- | :--- | :--- | | Interest Rate Risk (Fixed Rate Debt) | $6,515.5 | $(5,983.9) | $(240.4) (1% change) | | Foreign Exchange Risk (Debt & Forwards) | $1,793.0 | $(1,581.4) | $(164.4) (10% change) | | Commodity Price Risk (Swaps & Options) | $776.3 | $194.1 | $(75.5) (10% change) | [Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes in internal control over financial reporting during Q2 2022 - The Chief Executive Officer and Chief Financial Officer concluded that disclosure controls and procedures were effective as of **June 30, 2022**[203](index=203&type=chunk) - No changes in internal control over financial reporting occurred during **Q2 2022** that have materially affected, or are reasonably likely to materially affect, internal controls[204](index=204&type=chunk) [PART II. OTHER INFORMATION](index=42&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 12 for details on legal proceedings, including the significant $56 million accrued liability for the Stone Brewing trademark lawsuit - For information on legal proceedings, the report refers to **Note 12, "Commitments and Contingencies"** in the financial statements[206](index=206&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) The company highlights key risks including weakening economic conditions, geopolitical conflicts like the Russia-Ukraine war impacting costs, and the potential for labor strikes due to a unionized workforce - Weakening economic conditions, inflation, and reduced consumer spending could materially adversely affect business and financial results[208](index=208&type=chunk) - The Russia-Ukraine conflict has adversely affected the global economy, increasing costs for transportation, energy, and supplies, and could continue to have a material adverse effect on the business[210](index=210&type=chunk) - The company faces risks from labor strikes due to a high concentration of unionized workers, highlighted by the **Q2 2022** strike at the Montreal/Longueuil brewery and ongoing negotiations for other collective bargaining agreements in Québec[211](index=211&type=chunk)[213](index=213&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=41&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, the company repurchased 230,000 shares of Class B common stock for approximately $12.1 million under a publicly announced $200 million repurchase program Issuer Purchases of Equity Securities (Q2 2022) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2022 | 0 | N/A | | May 2022 | 230,000 | $52.59 | | June 2022 | 0 | N/A | | **Total** | **230,000** | **$52.59** | - The Board of Directors approved a share repurchase program for up to **$200 million** of Class B common stock, effective through **March 31, 2026**[214](index=214&type=chunk) [Defaults Upon Senior Securities](index=41&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[215](index=215&type=chunk) [Mine Safety Disclosures](index=41&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[216](index=216&type=chunk) [Other Information](index=41&type=section&id=Item%205.%20Other%20Information) The company reported no other information for this item - None[217](index=217&type=chunk) [Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO pursuant to the Sarbanes-Oxley Act and XBRL data files - Exhibits filed include **Section 302** and **906** certifications from the CEO and CFO, and XBRL interactive data files[218](index=218&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ . Commission File Number: 1-14829 Molson Coors Beverage Com ...