Mr. Gavin Hattersley reports

MOLSON COORS BEVERAGE COMPANY BOARD NAMES RAHUL GOYAL AS PRESIDENT AND CHIEF EXECUTIVE OFFICER

Molson Coors Canada Inc. parent company Molson Coors Beverage Company's board of directors has unanimously appointed Rahul Goyal, chief strategy officer, to succeed Gavin Hattersley as president and chief executive officer. Mr. Goyal will assume the role and become a member of Molson Coors' board of directors effective Oct. 1, 2025. Mr. Hattersley will remain in an advisory role until the end of 2025 to help ensure a smooth transition.

During his 24-year career at Molson Coors, Mr. Goyal has been a driving force behind many of the company's most successful recent ventures, serving in executive roles across information technology, finance and strategy. He started in Golden, Colo., at Coors Brewing Company and has held several global leadership roles such as chief information officer for Molson Coors in the United Kingdom and chief financial officer for Molson Coors in India.

Most recently as chief strategy officer, Mr. Goyal has focused on expanding the company's portfolio in meaningful ways to reach more consumers during more occasions. Further, Mr. Goyal has driven the company's beyond beer ambition by building successful partnerships with The Coca-Cola Company and Fever-Tree and leading the acquisitions of ZOA and Naked Life. Mr. Goyal also managed the commercial operations of Coors Distributing Company and played a key role in the management of The Yuengling Company, Molson Coors' joint venture with D.G. Yuengling and Son.

"After conducting an extensive and thorough CEO succession process that included evaluating internal and external candidates, it was clear that Rahul brought the right experience and vision that we believe is needed to drive the next phase of growth for Molson Coors," said board chair David Coors. "Rahul has strong institutional knowledge given his time with the company and, more importantly, he is eager to bring new thinking with a focus on future growth. The entire board is confident that Rahul's leadership will drive long-term results for Molson Coors."

"Rahul has delivered meaningful growth in new spaces for the company thanks to his ability to build partnerships that align with the company's strategic priorities," said board vice-chair Geoff Molson. "On top of that, he leads with authenticity and integrity and has built deep trust both inside and outside of Molson Coors, while igniting passion around our transformation journey."

"I am honoured to take on the CEO role and lead this company towards its next chapter of growth," said Mr. Goyal. "Since joining in 2001, it has been a privilege to be part of a company with a historic legacy of amazing brands supported by a talented team of employees and a strong network of distributors, customers and partners. I'm ready to take on both the opportunities and the challenges ahead of us knowing that we have the brands, the people and the passion to deliver on our ambitions. I recognize that we have a lot of work to do, and in the coming months I will share more on my vision for how we will drive growth and carry the legacy of this great company forward to reach new heights."

"Having known and had the pleasure of working closely with Rahul during his many years with Molson Coors, I believe he is the right choice to lead the company into the future," said outgoing chief executive officer Gavin Hattersley. "He brings the same dedication that built our brands over centuries and has proven that he can deliver results, applying purpose and clarity to everything he does. I look forward to supporting Rahul as he steps into the role bringing a fresh perspective in an increasingly complex environment. I have no doubt that he will inspire this team and lead Molson Coors to its full potential."

Mr. Coors added: "On behalf of the entire board of directors, I want to express our deepest appreciation to Gavin for more than six years of steady leadership and dedication as president and CEO. Throughout his tenure, Gavin accelerated our business growth, built a strong culture and has put our company on a path to an even brighter future. I want to thank Gavin for his many years of service, his leadership and his passion for our collective success."

Overview of Molson Coors Beverage Company

For more than two centuries, the company has brewed beverages that unite people to celebrate all life's moments. From its core power brands Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling and Ozujsko to its above premium brands including Madri Excepcional, Staropramen, Blue Moon Belgian White and Leinenkugel's Summer Shandy, to the company's economy and value brands like Miller High Life and Keystone Light, the company produces many beloved and iconic beers. While its history is rooted in beer, the company offers a modern portfolio that expands beyond the beer aisle as well, including flavoured beverages like Coors Seltzer, spirits like Blue Run whiskey and non-alcoholic beverages. The company also has partner brands, such as Simply Spiked, ZOA Energy and Fever-Tree, among others, through licence, distribution, partnership and joint venture agreements. As a business, the company's ambition is to be the first choice for its people, its consumers and its customers, and its success depends on its ability to make its products available to meet a wide range of consumer segments and occasions.

About Molson Coors Canada Inc.

Molson Coors Canada is a subsidiary of Molson Coors Beverage Company. MCCI Class A and Class B exchangeable shares offer substantially the same economic and voting rights as the respective classes of common shares of MCBC, as described in MCBC's annual proxy statement and Form 10-K filings with the United States Securities and Exchange Commission. The trustee holder of the special Class A voting stock and the special Class B voting stock has the right to cast a number of votes equal to the number of then outstanding Class A exchangeable shares and Class B exchangeable shares, respectively.

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