Mr. Rahul Goyal reports

MOLSON COORS BEVERAGE COMPANY ANNOUNCES CORPORATE RESTRUCTURING OF AMERICAS BUSINESS UNIT

Molson Coors Canada Inc. parent company Molson Coors Beverage Company has detailed a corporate restructuring plan, designed to create a leaner, more agile Americas organization while advancing its ability to reinvest in the business and position the company for future growth.

In total, the company plans to eliminate approximately 400 salaried positions across its Americas business by the end of December, 2025 -- including hundreds of salaried positions that were already open from role prioritization efforts put in place earlier this year and those who may be granted voluntary severance as part of this restructuring. The plan is estimated to result in the reduction of approximately 9 per cent of the company's Americas business salaried work force.

"We've made progress on our transformation journey, but given the environment, we must transform even faster. To win with our customers and consumers and return to growth, we must move with urgency and make bolder decisions," said president and chief executive officer Rahul Goyal. "We are moving quickly and intentionally on a long-term, achievable strategy that continues our journey to become a total beverage company and that we believe puts us on the path to sustainable growth. We look forward to sharing more detail on this strategy in the coming months."

The restructuring aims to enhance Molson Coors's ability to reinvest in its business, including its priority brands and must-win initiatives. As part of the plan, Molson Coors is focused on putting the right level of resources closer to its consumers and customers as it pursues a return to growth, concentrating on both its beer portfolio and its expansion into adjacent categories, such as premium mixers, non-alcohol beverages and energy drinks.

In connection with the restructuring, the company currently expects to incur certain related charges in the range of $35-million to $50-million, substantially all of which relate to primarily cash severance payments and postemployment benefits to be incurred in the fourth quarter of 2025. These cash payments are expected to be made over the next 12 months. These one-time costs will vary based on specific employee elections during the work force reduction.

"These are never easy decisions, and I am grateful to those who will be departing for their many contributions and to those who will continue to guide us on our journey toward growth," Mr. Goyal added.

Overview of Molson Coors Beverage Company

For over 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 its economy and value brands like Miller High Life and Keystone Light, Molson produces many beloved and iconic beers. While the company's history is rooted in beer, the company offers a modern portfolio that expands beyond the beer aisle as well, including flavored beverages like Vizzy Hard Seltzer, spirits like Five Trail 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, with a wide range of 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. Molson Coors Canada Class A and Class B exchangeable shares offer substantially the same economic and voting rights as the respective classes of common shares of Molson Coors Beverage Company, as described in Molson Coors Beverage Company's annual proxy statement and Form 10-K filings with the U.S. 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.

We seek Safe Harbor.