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MOLSON COORS age company NEWS RELEASE Molson Coors Beverage Company Reports 2021 Third Quarter Results Reaffirms Key 2021 Financial Guidance as Company Continues to Deliver on its Revitalization Plan and Premiumize its Portfolio Reinvests in Business While Deleveraging the Balance Sheet and Reinstating a Dividend GOLDEN , Colo . & MONTREAL - October 28 , 2021 - Molson Coors Beverage Company ( NYSE : TAP , TAP.A ; TSX : TPX.A , TPX.B ) today reported results for the 2021 third quarter . 2021 THIRD QUARTER FINANCIAL HIGHLIGHTS . • • Net sales revenue increased 2.5 % reported and 1.0 % in constant currency , as the impact of strong net pricing , positive brand and channel mix , more than offset lower financial volumes driven by economy brand declines and U.S. domestic shipment timing . Net sales revenue per hectoliter increased 3.6 % , on a brand volume basis in constant currency , primarily due to strong net pricing , favorable brand mix related to portfolio premiumization and the favorable impact of channel mix as the on - premise reopens further . U.S. GAAP net income attributable to Molson Coors Beverage Company ( MCBC ) of $ 453.0 million , $ 2.08 per share on a diluted basis . Non - GAAP diluted EPS of $ 1.75 per share increased 8.0 % . Underlying ( Non - GAAP ) EBITDA of $ 642.6 million decreased 10.9 % in constant currency as net sales revenue growth and lower general and administrative expenses were more than offset by increases in cost of goods sold and higher marketing spend . CEO AND CFO PERSPECTIVES We laid out our revitalization plan two years ago and can proudly say we continue to make progress against that plan . Our third quarter successes included our biggest brand , Coors Light , growing total share of beer in the U.S. Our Above Premium portfolio's net sales revenue has surpassed 25 % of our brand volume net sales revenue on a trailing twelve month basis for the first time since the revitalization plan was announced . We have also grown share of the U.S. Above Premium segment for two straight quarters for the first time in over five years . And with three months still left in the year , we have sold nearly two million cases of non - alcohol products for the first time in company history as we continue to deliver against our beyond beer ambitions . The momentum we have established and gains we have made come against an incredibly difficult backdrop of global supply chain challenges and transportation cost inflation . 1