Slides
Page 2
PRESENTER BIOGRAPHIES
Page 3
3 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 LAWSON WHITING President and Chief Executive Officer Prior to being appointed CEO, Lawson Whiting served as executive vice president and chief operating officer of Brown-Forman, where he oversaw regional operations, global production, and corporate responsibility. He has served on the company’s Executive Leadership Team since 2013. Lawson began his career at Brown-Forman in 1997 in the corporate development group and subsequently served as the director of investor relations, director of finance for wines, director of global business strategy for the Jack Daniel’s Family of Brands, and director of finance, North America region. He was then promoted to senior vice president and managing director of Western Europe, based in London, before returning to the United States as chief brands officer. In addition to serving on the board of directors for Brown-Forman, he serves on the board of directors for Keurig Dr Pepper. He holds a Bachelor of Science degree in finance from Miami University and a Master of Business Administration from the University of Chicago’s Booth School of Business.
Page 4
4 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JEREMY SHEPHERD EVP, Chief Marketing Officer Jeremy Shepherd began his career at Brown‑Forman in 2005 as commercial manager for Canada, and over the last 20 years, he has held commercial and marketing leadership roles in New York City, Louisville, and London. Prior to his current role as Chief Marketing Officer, Jeremy led the company's USA & Canada commercial division. He championed a new business performance management structure and the first distributor Request for Proposal in the U.S. in over 60 years, a landmark initiative to optimize distribution networks. Previously he served as vice president, general manager for the United Kingdom and Ireland, where he built and launched Brown‑Forman’s own distribution organization despite the COVID-19 pandemic and country-wide lockdowns. Before joining Brown-Forman, Jeremy worked in various marketing and commercial roles for Coca-Cola Enterprises and Bacardi Canada. He graduated from the University of Alberta with a Bachelor of Commerce in marketing.
Page 5
5 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MARK BACON SVP, Global Managing Director, Jack Daniel’s Mark Bacon is responsible for the overall global strategic direction and marketing for the Jack Daniel’s Family of Brands. He brings 36 years of experience at Brown-Forman, having built his career from the ground up, joining the company in 1989 as a sales representative for the Northeast region. In his most recent role as managing director, Super Premium American Whiskey, Mark’s strategic leadership was critical to stewarding an extended period of remarkable double-digit growth for Woodford Reserve. He was also instrumental in the brand becoming the presenting sponsor and official bourbon of the Kentucky Derby. In 2021, his role expanded to include the company’s founding brand, Old Forester, which has enjoyed tremendous success and growth. He also previously served as senior vice president, global managing director of Southern Comfort, where his work and leadership were recognized both in the spirits industry and the broader marketing profession, as a winner of Adweek’s Brand Genius award. Mark graduated from the University of Louisville with a bachelor’s degree in business.
Page 6
6 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JAMIE BUTLER VP, Creative and Communications Director, Jack Daniel’s Jamie Butler is responsible for creative and communications across the Jack Daniel’s portfolio, with oversight of campaign development and implementation, partnerships, and licensing. Jamie joined Brown-Forman in 2006 as a member of the U.K. marketing team. He worked throughout the Brown-Forman portfolio in a number of roles until relocating to Louisville and joining the Jack Daniel’s global team in 2015. Since then, he has held divisional Brown-Forman portfolio marketing leadership roles in the U.S., Latin America, Africa, and a cluster of other markets before rejoining the Jack Daniel’s global team in his current position. Prior to joining Brown-Forman, Jamie began his career at Diageo where he held a number of sales and marketing roles working within a range of brands. Jamie is from the U.K. but currently resides in Louisville, Kentucky.
Page 7
7 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 AMANDA FOWLER Global Portfolio Strategy Director, Jack Daniel’s Amanda Fowler is responsible for overseeing the innovation and renovation of Jack Daniel’s products. In this role, she leverages her foundation in consumer behavior with a passion for brand-building. Amanda joined Brown-Forman Australia in 2014, where she held various insights roles and supported ready-to-drink innovation. Since relocating to the U.S. in 2019, Amanda has led Insights functions for the global Super Premium Portfolio as well as the United States & Canada region. Prior to her current position, Amanda was the chief of staff to the Chief Brands Officer. Before joining Brown-Forman, Amanda was a researcher and consultant at Kantar, the world's leading marketing data and analytics business. Amanda has a Bachelor of Commerce in marketing from the University of Kwa-Zulu Natal, South Africa.
Page 8
8 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 CHRIS FLETCHER VP, Master Distiller and Director of Distillery Operations, Jack Daniel Distillery Chris Fletcher uses an extensive knowledge of the whiskey-making process to supervise and ensure the world’s top-selling whiskey is both in constant supply and true to Jack’s guiding belief that “Every day we make it, we’ll make it the best we can.” Chris is one of only a handful of individuals to have held the title of “Master Distiller” in the distillery’s history. A native of Lynchburg, Tennessee, Chris joined the Jack Daniel Distillery first as a tour guide, coming home to work summers during his college years. After earning a degree in chemistry, he gained a complete knowledge of production at the Jack Daniel Distillery, all passed down first-hand by his grandfather, the late Master Distiller Frank “Frog” Bobo, and other Jack Daniel’s employees with decades of experience. After his stint in Lynchburg, Chris worked for Brown-Forman in Louisville, Kentucky, on Jack Daniel’s quality control. He returned to the Jack Daniel Distillery in 2014.
Page 9
9 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JENNIFER POWELL VP, Marketing Director, USA & Canada Jennifer Powell is part of the Americas Leadership Team for Brown-Forman, leading the growth of the portfolio of brands and building capabilities within the marketing team. She began her career with Brown-Forman more than 20 years ago as an intern at the Brown-Forman headquarters in Louisville, Kentucky. Since then, she has held multiple marketing roles building brand trademarks such as Jack Daniel’s and Woodford Reserve in the U.S., U.K., and Europe. Jennifer has a passion for developing people and galvanizing high-performing teams to grow business value and build long-term equity for brands. Jennifer has a bachelor’s degree in advertising and public relations and a master’s degree in marketing, both from the University of Alabama.
Page 10
10 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MICHAEL MASICK EVP, President, Americas Michael Masick stewards Brown‑Forman’s businesses across the USA, Canada, Mexico, South and Central America, and the Caribbean. He joined Brown‑Forman in 2010 and has since served in several finance, strategy, and commercial leadership positions. Most recently, he oversaw Latin America, Africa, Ukraine, and CIS markets as the managing director. In earlier roles, Michael led the finance function for developed Europe, based in Amsterdam; the corporate development and strategy team stewarding Brown‑Forman’s acquisition, divestiture, and longer-term corporate strategies; and the Jack Daniel’s Family of Brands global strategy and analysis team. He previously led the company's emerging international division. Prior to joining Brown‑Forman, Michael worked in investment banking, most recently at Lazard, advising companies on their merger, acquisition, divestiture, and capital markets activities. Michael received his Master of Science degree in finance from the University of Virginia and undergraduate degree from the University of Kentucky.
Page 11
11 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 CHRIS GRAVEN EVP, Chief Strategy Officer Chris Graven partners closely with Brown‑Forman’s CEO and the other members of the Executive Leadership Team on establishing the company's strategic priorities, including identifying growth opportunities for our portfolio, geographies, investments, and people. Chris joined Brown‑Forman in 2005 as director of corporate development. In subsequent years, she served as global brand director for Chambord; director of global business strategy for the Jack Daniel’s Family of Brands; director of business strategy for North America; and director of corporate strategy before moving into a variety of roles within Brown‑Forman’s people, places, and communications organization. Most recently, Chris served as senior vice president of people strategy, analytics and rewards. Prior to joining Brown‑Forman, Chris held strategy roles at The Home Depot and Bain & Company after beginning her career as a tax accountant with Deloitte & Touche. Chris holds a Bachelor of Science degree in accounting from Miami University and a Master of Business Administration from Harvard Business School.
Page 12
12 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 SUE PERRAM VP, Director, Investor Relations Sue Perram started her career with Brown-Forman in 2009 as the brand analytics manager for Southern Comfort and Finlandia in the North American region. Over the next decade, she held a variety of local, regional, and global roles, including brand and commercial finance in the U.S., chief of staff for Brown-Forman's Chief Brands Officer, director of strategy and brand analytics for the Jack Daniel's brand globally, and the finance and integration leader for the newly acquired Fords Gin brand. Prior to joining Brown-Forman, Sue worked for more than 13 years as both a buy and sell side analyst for institutional investment management companies covering the beverage alcohol, consumer staples, and restaurant sectors. In 2020, Perram brought her career experiences full circle as she was named director of investor relations. Sue holds a bachelor’s degree in finance from John Carroll University and a Master of Business Administration degree from Case Western Reserve University - Weatherhead School of Management.
Page 13
PRESENTATION SLIDES
Page 14
SUE PERRAM | VP, Director, Investor Relations
Page 15
This presentation contains statements, estimates, and projections that are “forward-looking statements” as defined under U.S. federal securities laws. Words such as “aim,” “anticipate,” “aspire,” “believe,” “can,” “continue,” “could,” “envision,” “estimate,” “expect,” “expectation,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “pursue,” “see,” “seek,” “should,” “will,” “would,” and similar words indicate forward-looking statements, which speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections. These risks and uncertainties include, but are not limited to: ● Our substantial dependence upon the continued growth of the Jack Daniel's family of brands ● Substantial competition from new entrants, consolidations by competitors and retailers, and other competitive activities, such as pricing actions (including price reductions, promotions, discounting, couponing, or free goods), marketing, category expansion, product introductions, or entry or expansion in our geographic markets or distribution networks ● Disruption of our distribution network or inventory fluctuations in our products by distributors, wholesalers, or retailers ● Changes in consumer preferences, consumption, or purchase patterns – particularly away from larger producers in favor of small distilleries or local producers, or away from brown spirits, our premium products, or spirits generally, and our ability to anticipate or react to them; further legalization of marijuana; bar, restaurant, travel, or other on-premise declines; shifts in demographic or health and wellness trends; or unfavorable consumer reaction to new products, line extensions, package changes, product reformulations, or other product innovation ● Route-to-consumer changes that affect the timing of our sales, temporarily disrupt the marketing or sale of our products, or result in higher fixed costs ● Production facility, aging warehouse, or supply chain disruption ● Imprecision in supply/demand forecasting ● Higher costs, lower quality, or unavailability of energy, water, raw materials, product ingredients, or labor ● Risks associated with acquisitions, dispositions, business partnerships, or investments – such as acquisition integration, termination difficulties or costs, or impairment in recorded value ● Unfavorable global or regional economic conditions and related economic slowdowns or recessions, low consumer confidence, high unemployment, weak credit or capital markets, budget deficits, burdensome government debt, austerity measures, higher interest rates, higher taxes, political instability, higher inflation, deflation, lower returns on pension assets, or lower discount rates for pension obligations ● Impact of health epidemics and pandemics, and the risk of the resulting negative economic impacts and related governmental actions ● Product recalls or other product liability claims, product tampering, contamination, or quality issues ● Negative publicity related to our company, products, brands, marketing, executive leadership, employees, Board of Directors, family stockholders, operations, business performance, or prospects ● Failure to attract or retain key executive or employee talent ● Risks associated with being a U.S.-based company with a global business, including commercial, political, and financial risks; local labor policies and conditions; compliance with local trade practices and other regulations; terrorism, kidnapping, extortion, or other types of violence; and health pandemics ● Failure to comply with anti-corruption laws, trade sanctions and restrictions, or similar laws or regulations ● Fluctuations in foreign currency exchange rates, particularly a stronger U.S. dollar ● Changes in laws, regulatory measures, or governmental policies, especially those affecting production, importation, marketing, labeling, pricing, distribution, sale, or consumption of our beverage alcohol products ● Tax rate changes (including excise, corporate, sales or value-added taxes, property taxes, payroll taxes, import and export duties, and tariffs) or changes in related reserves, changes in tax rules or accounting standards, and the unpredictability and suddenness with which they can occur ● Decline in the social acceptability of beverage alcohol in significant markets ● Significant additional labeling or warning requirements or limitations on availability of our beverage alcohol products ● Counterfeiting and inadequate protection of our intellectual property rights ● Significant legal disputes and proceedings, or government investigations ● Cyberbreach or failure or corruption of our key information technology systems or those of our suppliers, customers, or direct and indirect business partners, or failure to comply with personal data protection laws ● Our status as a family “controlled company” under New York Stock Exchange rules, and our dual-class share structure For further information on these and other risks, please refer to our public filings, including the “Risk Factors” section of our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. IMPORTANT INFORMATION ON FORWARD LOOKING STATEMENTS
Page 16
16 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 Break Building for the Future LAWSON WHITING Long Runway for Growth JEREMY SHEPHERD Strategic Priorities MARK BACON Meaningful Difference JAMIE BUTLER Portfolio Development AMANDA FOWLER CHRIS FLETCHER On-Premise Evolution JENNIFER POWELL Operational Excellence MICHAEL MASICK CHRIS GRAVEN Closing LAWSON WHITING Questions & Answers ALL AGENDA President and Chief Executive Officer EVP, Chief Marketing Officer SVP, Global Managing Director, Jack Daniel’s VP, Creative and Communications Director, Jack Daniel’s Global Portfolio Strategy Director, Jack Daniel’s VP, Marketing Director, USA & Canada EVP, President, Americas President and Chief Executive Officer VP, Master Distiller and Director of Distillery Operations EVP, Chief Strategy Officer
Page 17
LAWSON WHITING | President and Chief Executive Officer
Page 18
18 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 A PLACE LIKE NO OTHER.
Page 19
19 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 ADAPTING TO WIN IN A NEW LANDSCAPE.
Page 20
20 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 GLOBAL ORGANIZATION CHANGES RTC CHANGES IN JAPAN AND ITALY U.S. DISTRIBUTOR CHANGES LEADERSHIP STRATEGY WORK
Page 21
21 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 STILL PLAYING THE LONG GAME.
Page 22
22 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 SOUND CAPITAL DEPLOYMENT STRATEGY.
Page 23
23 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 A BRAND LIKE NO OTHER.
Page 24
JEREMY SHEPHERD | EVP, Chief Marketing Officer
Page 25
LIKE NO OTHER
Page 26
JACK DANIEL’S IS THE NUMBER 1 AMERICAN WHISKEY IN THE WORLD AND THE MOST VALUABLE GLOBAL SPIRITS BRAND IN THE WORLD. Source: IWSR 2024 Retail Sales Value
Page 27
27 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JACK DANIEL’S CONTINUES TO HAVE TREMENDOUS OPPORTUNITY TO GAIN SHARE Source: IWSR 2024 Global TDS Retail Sales Value Jack Daniel's has 3.7% Market Share of Global TDS
Page 28
28 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 POSITIONED TO CAPTURE GLOBAL GROWTH OF AMERICAN WHISKEY Source: IWSR 2024, Standard+ Whiskey: *Value pool is Global Std+ Whiskey $24B* $8B* $29B* $8B* GRAND TOTAL STD+: U.S. Whiskey % to Total Whiskey 20% 40% 60% JD FOB % Share of U.S. Whiskey 20% 40% 60% 80% 100%
Page 29
MARK BACON | SVP, Global Managing Director, Jack Daniel’s
Page 31
31 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 STRATEGIC PRIORITIES MEANINGFUL DIFFERENCE Win the hearts and minds of consumers by inspiring them to live life on their own terms ON-PREMISE EVOLUTION Re-establish leadership in the channel through bartender advocacy and consumer call PORTFOLIO DEVELOPMENT Reach new consumers and occasions through innovation and premiumization OPERATIONAL EXCELLENCE Win at the point of purchase and point of consumption
Page 32
JAMIE BUTLER | VP, Creative and Communications Director, Jack Daniel’s
Page 33
LIKE NO OTHER
Page 34
34 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JACK DANIEL’S IS A WHISKEY LIKE NO OTHER 01 02 03 04 ICONIC LIKE NO OTHER LIQUID LIKE NO OTHER A STORY LIKE NO OTHER BADASS SWAGGER LIKE NO OTHER
Page 35
35 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 CONSUMER-OBSESSED 01 AUDIENCE 02 CHANNEL 03 CREATIVE
Page 36
VIDEO PLACEHOLDER
Page 38
VIDEO PLACEHOLDER
Page 39
39 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 FOUR NEW CAMPAIGN FILMS THE CALL :20 / :10 WHAT MAKES JACK JACK :60 / :30 / :20 / :15 THE DROP :20 / :15 THE JOURNEY :20 / :15 LEAD FILM SUPPORTING FILMS
Page 41
VIDEO PLACEHOLDER VIDEO PLACEHOLDER
Page 42
42 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 TOP-TIER CONSUMER AD PERFORMANCE IN PRE-LAUNCH RESEARCH APPEAL BRAND LINKAGE BEHAVIOR CHANGE BRAND FEELING UNIQUE & DIFFERENT Scores better than x% of ads testedPERCENTILE SUMMARY Above Norm At Norm Below Norm U.S. 78.7 89.8 84.1 79.1 92.0 UK 90.6 92.5 76.7 86.6 95.4 GERMANY 87.2 87.8 83.7 87.0 91.5 MEXICO 83.5 77.7 80.7 82.3 93.5 AUSTRALIA 95.2 94.7 90.8 95.8 98.3 JAPAN 91.4 94.6 95.2 96.4 92.1 Source: Zappi, 2025
Page 43
43 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 ON-PREMISE OOH TV/VOD/OLV ACTIVATION ECOMMERCE + SEARCH INFLUENCER SOCIAL
Page 46
VIDEO PLACEHOLDER
Page 51
51 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 LARGEST CAMPAIGN IN BRAND HISTORY Markets represent 74% of Retail Sales Value Source: IWSR 2024 Retail Sales Value
Page 53
VIDEO PLACEHOLDER
Page 54
AMANDA FOWLER | Global Portfolio Strategy Director, Jack Daniel’s CHRIS FLETCHER | VP, Master Distiller and Director of Distillery Operations
Page 55
55 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JACK DANIEL’S TENNESSEE WHISKEY IS THE BEATING HEART OF OUR PORTFOLIO
Page 56
56 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 EACH PART OF OUR PORTFOLIO SERVES A PURPOSE IN MEETING CONSUMER NEEDS PERFECTLY MIXED ELEVATEDAPPROACHABLE EXPERTISE PASSION POINTS
Page 57
57 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 OUR PORTFOLIO STRATEGY IS INSPIRED BY INNOVATION, SUPPORTED BY RENOVATION AND GEOGRAPHIC EXPANSION GEOGRAPHIC EXPANSION Opportunities to connect to consumers around the world RENOVATION Enhancing existing products INNOVATION Recruits new consumers and invites reappraisal
Page 58
58 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 RENOVATION THAT PREMIUMIZES AND REINFORCES SPECIALNESS 1910 19621947 20111957 1975 1982 1998 NOW
Page 59
59 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 ALL INNOVATION MUST HAVE A POSITIVE IMPACT ON THE JACK DANIEL’S TRADEMARK SUPPORTS MEANINGFUL DIFFERENCE EXTENDS JACK DANIEL’S APPEAL BUILDS WHISKEY-MAKING CREDENTIALS
Page 60
60 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MEET THE NEWEST MEMBER OF OUR FAMILY Newly Launched U.S. in August and select International Markets launching now Press and Buzz US PR efforts drove over 314 million in media reach, including more than 9.7 million influencer and social impressions Strong Early Results
Page 61
VIDEO PLACEHOLDER
Page 62
62 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MAKING WHISKEY THE SAME WAY FOR GENERATIONS
Page 63
63 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 AWARD-WINNING INNOVATION THAT HONORS OUR HISTORY
Page 64
64 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 EXCITING CONSUMERS WITH SPECIAL AND SCARCE WHISKEYS
Page 65
VIDEO PLACEHOLDER
Page 67
VIDEO PLACEHOLDER
Page 68
JENNIFER POWELL | VP, Marketing Director, USA & Canada
Page 69
69 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 ECOMMERCE + SEARCH ON-PREMISE OOH TV/VOD/OLV ACTIVATION INFLUENCER SOCIAL
Page 70
70 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 THE ON-PREMISE IS THE #1 BRAND-BUILDING CHANNEL IN OUR INDUSTRY SALES CHANNEL ADVOCACY CHANNEL CONSUMER & BRAND CHANNEL
Page 71
71 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 OUR MISSION Strengthen Jack as a Passionate and Meaningful Choice on BOTH SIDES of the Bar CONSUMER CALL BARTENDER ADVOCACY
Page 72
72 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 CONSUMER CALL
Page 74
VIDEO PLACEHOLDER
Page 75
75 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 THE CALL IS A CALL TO ACTION FOR CONSUMERS
Page 76
76 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 A PORTFOLIO PRIMED TO CEMENT JACK’S PLACE ON THE MENU
Page 77
77 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 ON-PREMISE ACTIVATION… LIKE NO OTHER
Page 78
VIDEO PLACEHOLDER
Page 79
79 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 BARTENDER ADVOCACY
Page 80
80 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 AROUND THE WORLD, WE’RE UNLEASHING ADVOCACY… Lead with JDTW Prioritize KEY CITIES Drive INFLUENCE & ENGAGEMENT
Page 81
VIDEO PLACEHOLDER
Page 82
82 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 PROUDLY SERVED IN FINE ESTABLISHMENTSAND QUESTIONABLE JOINTS EVERYWHERE
Page 83
MICHAEL MASICK | EVP, President, Americas CHRIS GRAVEN | EVP, Chief Strategy Officer
Page 84
84 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JACK DANIEL’S FAMILY OF BRANDS HAS A LONG RUNWAY FOR GROWTH ACROSS THE GLOBE Source: IWSR 2024, Standard+ Whiskey: *Value pool is Global Std+ Whiskey $24B* $8B* $29B* $8B* GRAND TOTAL JD FOB % Share of U.S. Whiskey 20% 40% 60% 80% 100% STD+: U.S. Whiskey % to Total Whiskey 20% 40% 60%
Page 85
85 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 THE UNITED STATES
Page 86
86 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 TRANSFORMING THE U.S. RTM TO UNLOCK GROWTH Better Performance Value and market share growth Increased dedication More engagement, improved focus, and greater account coverage Updated Business Terms Expectations, investment, and ways of working Expanded Relationships Relationships with the scale, capabilities, and agility to grow Changed distributors in 14 states Including some of our largest markets - CA, TX, NY
Page 87
87 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 EXECUTING THE GLOBAL STRATEGIC PRIORITIES WITH EXCELLENCE IN THE U.S. That’s What Makes Jack, JACK Campaign On-premise evolution Innovation THE CALL THE DROP THE JOURNEY
Page 88
88 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JD FOB GROWING VALUE SHARE; PRICE GAINS ALIGNED TO PREMIUM WHISKEY CATEGORY Source: 13-Week Nielsen data - Total xAOC + Total Open State Liquor + Total Convenience. Source: Nielsen; 750mls only. Rolling 52-week average price weeks ended 9-6-25 and 9-7-21. Premium U.S./Irish/Canadian Whisk(e)y categories. Unflavored whiskey only. 2021 2025 4YR CAGR +1.7% +1.5% PricingNielsen Takeaway 13WK JD FOB GAP to TDS -3% 0% +1% 0% -2% -4% -6% 9-7-24 9-6-25 (3)% (4)% (4)% TDS ex RTDS JD FOB JDTW NEW Jack campaign JD Blackberry launch Evolving on-premise strategy $22.10 $22.90 $23.60 $24.30
Page 89
89 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MEXICO
Page 90
90 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MARKET & CONSUMER CATEGORY JD OPPORTUNITY EXPANDING OUR FOOTPRINT AND RELEVANCE IN MEXICO Source: IWSR 2024 U.S. Whiskey gaining share of Total Whiskey Surge in RTD consumption Growing middle-class with increasing disposable income 7th largest RTD market globally 8th largest Premium+ spirits market 4% Total Whiskey U.S. Whiskey 10% 10 YR CAGR (Value) JD FOB is increasing market share; 9% RSV growth over past 5 yrs JD RTDs 2M 9L cs #1 Whiskey RTD in Mexico
Page 91
91 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 BRAZIL
Page 92
92 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MARKET & CONSUMER CATEGORY JD OPPORTUNITY BRAZIL HAS CONSISTENTLY DELIVERED DOUBLE-DIGIT VALUE GROWTH Source: IWSR 2024 Premium+ whiskey is fastest-growing spirits category in Brazil (5YR CAGR +19%) Increased disposable income in urban centers 7th largest whiskey market globally JD FOB leads Premium+ spirits category; fastest-growing of top 3 brands 3rd largest Jack Daniel’s market (Full Strength) JD FOB consistent double-digit growth; 25% growth over past 5 yrs #1 International JD Flavors market 10% Total Whiskey 24% U.S. Whiskey 10 YR CAGR (Value) Large, youthful population
Page 93
93 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 EUROPE
Page 94
94 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 EUROPE: A MATURE REGION WITH STRONG FOUNDATIONS FOR GROWTH… Sources: IWSR 2024 - Market share as % Std+ whiskey; Nielsen August 2025, share as % of total whiskey; Kantar Brand Health Tracking Q1F26 MAT vs Q1F25 MAT. Sample: Total spirits drinkers P3M. BRAND METRICS ARE STABLE OR IMPROVING ACROSS EUROPE Penetration Consideration Unaided Awareness Buzz Affinity Uniqueness GROWTH INDICATORS IIMPACT OF REACH MEANINGFUL DIFFERENCE GAINING SHARE IN 6 KEY MARKETS UK France Poland Italy Spain Czechia #1 15% MARKET SHARE OF STD+ WHISKEY
Page 95
95 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 …AND FURTHER OPPORTUNITIES ACROSS THE REGION Brand Geography NEW OD MARKET DRIVING DISTRIBUTION EMERGING EUROPEAN MARKET GAINING SHARE Channel Source: IWSR 2024
Page 96
96 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 INDIA
Page 97
97 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MARKET & CONSUMER CATEGORY JD OPPORTUNITY INDIA: A BRIGHT SPOT GLOBALLY Sources: IWSR 2024; Morgan Stanley Research, Frontier View analysis; RSV = Retail Sales Value 5% <1% 11% 6% 2% 2% CONTRIBUTION TO RSV Growing middle class Increasing disposable income Most populous country Fastest growing economy Whiskey is the largest spirits category in India, and India is the 2nd largest whiskey market in the world!
Page 98
98 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 ASIA
Page 99
99 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MARKET & CONSUMER CATEGORY JD OPPORTUNITY ASIA: A CONTINENT OF DIVERSE OPPORTUNITY Sources: IWSR 2024; Pie chart: RSV market share STD+ whiskey excl. national spirits; Awareness: KANTAR Regional JDTW BHT Report - China H2 CY24, Japan, Korea, Taiwan H1 CY 2025. 30% 18% 13% 9% 8% 19% 3% Others Low awareness vs. comp set MARKET SHAREAWARENESS Increasingly affluent consumers Strong appetite for international brands Diverse markets - developed to developing Whiskey is the largest international spirits category in Asia - projected to grow at 4% over next 5 years $7B+ RSV
Page 100
100 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 GLOBAL TRAVEL RETAIL
Page 101
101 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 MARKET & CONSUMER CATEGORY JD OPPORTUNITY GLOBAL TRAVEL RETAIL: THE WORLD’S LEADING STAGE FOR BRAND EXPOSURE Sources: IWSR 2024, Paxsmart Increasing passenger travel Evolving retail landscape Whiskey is the largest spirits category at 50% of total GTR; projected to grow >3% over the next five years $5B+ RSV 49% 39% GTR Non-GTR STD+ WHISKEY AS % OF TDS +10pts Growth contributor and brand-building channel
Page 102
102 I N V E S T O R D A Y | N A S H V I L L E , T N | O C T O B E R 2 0 2 5 JACK DANIEL’S FAMILY OF BRANDS HAS A LONG RUNWAY FOR GROWTH ACROSS THE GLOBE Source: IWSR 2024, Standard+ Whiskey: *Value pool is Global Std+ Whiskey $24B* $8B* $29B* $8B* GRAND TOTAL JD FOB % Share of U.S. Whiskey 20% 40% 60% 80% 100% STD+: U.S. Whiskey % to Total Whiskey 20% 40% 60%
Page 103
LAWSON WHITING | President and Chief Executive Officer