Corby Spirit And Wine Limited Class A · TSX:CSW.A
Corby Spirit And Wine Limited Class A — FY2026 Earnings Presentation
34 slides from Corby Spirit And Wine Limited Class A's earnings presentation, August 2026
Slide 1: Corby Investor Information Deck
CO RBY I NVESTOR I NF ORM AT IO N DECK TSX: CSW.A and CSW.B
Slide 2: Summary
SUMMARY S E C T I O N 1 | Introduction To Corby S E C T I O N 2 | Canada: Our Home and Our Market S E C T I O N 3 | Growth Strategy S E C T I O N 4 | Commercial and Financial Performance S E C T I O N 5 | Conclusion: Why Invest in Corby
Slide 3: Introduction to Corby
SECTION 1 INTRODUCTION TO C O R BY
Slide 4: Corby: A Legacy of Canadian Spirit Excellence
Corby: A Legacy of Canadian Spirit Excellence Since its founding in 1859 in Belleville, Ontario, Corby has been a cornerstone of the Canadian spirits industry. Today, we are Canada’s leading TSX-listed spirits, wine and ready-to-drink (“RTD”) beverage company, renowned for fostering connections thro
Slide 5: Corby is the Second Largest Marketer & Distributor of Spirits, Wines & RTDs
Today: Corby is the Second Largest Marketer & Distributor of Spirits, Wines & RTDs in Canada Canada’s largest publicly-listed, multi-beverage alcohol company 3 of the largest spirits brands in Canada by value: Absolut, J.P. Wiser’s & Jameson c. 8m 9L cases of spirits, wines and RTDs sold annually Ma
Slide 6: Canada: Our Home and Our Market
SECTION 2 CAN ADA: OUR HOME AND OUR MARKET
Slide 7: Leading share in Spirits, strong challenger in RTDs, fragmented Wine
Corby has a leading share position in Spirits, a strong challenger in sssssssssssss RTDs and participates in the fragmented Wine category R12 Spirits, Wine & RTDs Agent Value % Share Canada 11.7% 9.8% #2 SPIRITS 8.1% 18.2% 6.8% 4.0% #3 RTDs 3.2% 3.2% 9.5% 2.7% 2.5% 2.4% #7 WINE 2.3% Source: ACD (R12
Slide 8: Track record of top-line growth, sustained earnings and shareholder value
Track record of top-line growth enhanced through acquisitions, while delivering sustained earnings and shareholder value Revenue Adjusted EBITDA1 (in millions of Canadian Dollars) (in millions of Canadian Dollars) Revenue 300.0 271.6 +45% Adjusted EBITDA % Growth 246.8 229.7 +40% % Growth 67.5 80.0
Slide 9: Growth Strategy
SECT EON, 3 GROWTH STRATEGY CORBY
Slide 10: Growth strategy priorities
Continue to gain share in spirits • Leveraging best-in-class brand activation and excellence in commercial execution • Building on impactful innovative launches to deliver roughly one-third of our annual revenue growth • Continuously improve efficiency and effectiveness in each $ invested in adverti
Slide 11: Sustain dual focus on spirit profitability and market share gains
Outperform the competition with relentless pursuit of Sustain our dual focus on protecting Spirit profitability leadership positions in key Canadian markets through 1 1 while gaining market share in Canada, powered by distribution gains, efficient marketing and breakthrough commercial execution and
Slide 12: Factors Driving Performance – Innovation Driving Value Growth
Factors Driving Performance 1 – Leveraging Strength of Portfolio 2 – Innovation Driving Value Growth Putting consumers and occasions first to build and scale brands Innovation is a Key Growth Driver for Corby, with Spirits Innovations launched across the industry generating in FYTD March FY26 #1 Sin
Slide 13: Factors Driving Performance – RTD Evolution and Expansion
Factors Driving Performance 3 – RTD Evolution and Expansion Sustained by strong innovation and market expansion Corby outperforming the RTD category nationally with strong innovation performance and expanded distribution driving outstanding +18% volume growth vs. category growth of +7%.3 #1 RTD in O
Slide 14: Factors Driving Performance – Commercial Execution, People & S&R
Factors Driving Performance 4 – Commercial Execution 5 – Promotional Effectiveness 6 – Our People & S&R Roadmap Created Specialized Divisions: Key Account Jameson Distillery On-Tour Pop-Up | Malibu Trailer Management, Field Execution, and Business Intelligence J.P. Wiser’s “Wisely Done” | Polar Ice
Slide 15: Commercial and Financial Performance
SECTION 4 COMMERCIAL AND FINANCIAL PERFORMANCE
Slide 16: Fiscal 2026 Market and Corby Commercial Performance
FISCAL 2026 MARKET AND C O R BY C O M M E RC I A L PERFORMANCE
Slide 17: Record full-year revenue in FY26
Record full-year revenue in FY26 (+10% reported / +11% organic1) • Strong sales execution across RTDs and spirits drove share gains portfolio-wide, supported by the de-shelving of US-origin products. • Earnings outpaced revenue growth, as disciplined investment in key brands offset RTD-skewed mix an
Slide 18: Corby capturing incremental market share as US-origin products removed
Corby capturing incremental market share, benefitting from US-origin products removed from shelves Corby has consistently outperformed the Canadian market in value growth for fourteen consecutive quarters MARKET CO R BY R121 OTC Value Growth SPIRITS -3.6% +3.1% vs. market RTD +12.0% +31.6% vs. marke
Slide 19: Corby outpacing the market in most spirits categories
Corby outpacing the market in most spirits categories R12 C A N A D I A N S P I R I T S M A R K E T R E TA I L V A L U E 1611 R121 Retail Value ($m) 1104 1015 966 552 434 302 288 192 127 VODKA CANADIAN LIQUEURS RUM TEQUILA GIN SINGLE MALT BLENDED IRISH WHISKEY COGNAC WHISKY SCOTCH SCOTCH Category Gr
Slide 20: Corby shareholder returns outperforming peers
Corby shareholder returns outperforming peers 19% 7.2% 7% 5.9% 4.0% 2.9% 3.3% -1.0% 1.8% -11% -14% -20% 15% 19% -3% -13% $15.82 $14.20 $12.97 $14.07 $0.88 $0.84 $0.90 $0.94 2023 2024 2025 2026 Total Shareholder Returns2 Dividend per Share ($CAD) Share price as at May 31 1. Peer 1: Pernod Ricard (EPR
Slide 21: Full-Year FY26 Results
FULL-YEAR FY26 RESULTS CORBY
Slide 22: FY26 results summary: revenue, earnings and EPS growth
Reported +10% Organic1 +11% Reported +16% Adjusted1 +12% Reported +22% Adjusted1 +15% 25 Fiscal year ended June 30, 2026 vs. fiscal year ended June 30, 2025 / 1. See “Non-IFRS Financial Measures” in Corby’s Q4 FY26 MD&A 25
Slide 23: Conclusion: Why Invest in Corby
SECTION 5 CONCLUSION: W H Y I N V E S T I N C O R BY
Slide 24: Why invest in Corby
Largest publicly-listed, multi-beverage alcohol company in Canada with the most 1 comprehensive & diverse portfolio in the industry Close partnership with Pernod Ricard, a global industry leader, bringing strategic advantages, 2 best practices, and operational and financial support to Corby Clear st
Slide 25: Thank You
T H A N K YO U Questions or looking for more information? Please reach out to [email protected] FOLLOW US TSX: CSW.A and CSW.B
Slide 26: Appendix
APPENDIX CORBY
Slide 27: Full-Year FY25 vs FY26 results
Full-Year Full-Year % % $ mCAD FY25 FY26 change Organic Revenue 246.8 271.6 +10% +11% $1.23 +15% Total operating expenses2 (200.6) (218.0) +9% Earnings from Operations 46.1 53.7 +16% ADJUSTED EPS1 Adj. Earnings from Operations1 47.8 53.7 +12% Adj. EBITDA1 64.0 67.5 +5% $1.17 Net financial expenses (
Slide 28: Net sales by domestic, commissions and export
• RTD business expansion accelerated Domestic Reported across key provinces, reinforce category Case Goods +12% leadership $220.7 million Organic1 • Spirits market share gains benefitting +13% (81% of NS) from U.S. product delistings Net • Wines portfolio lapping a strong prior- Commissions Reported
Slide 29: Net debt / Adjusted EBITDA and cash flow
YTD YTD $ $ mCAD FY25 FY26 Change Net cash / (debt), beginning of period (105.8) (91.0) +14.8 72% 80% Net earnings adjusted for non-cash items 62.4 67.5 +5.1 Net change in non-cash working capital balances (5.7) (12.4) (6.7) Dividend payout Dividend payout Net payments for interest and income taxes
Slide 30: Channel fragmentation as Grocery ramps up and E-commerce expands
Within Canada there is channel fragmentation as Grocery Ramps Up & E-commerce slowly expands footprint RETAIL MARKET IS TRADITIONALLY LARGE IN CANADA GROCERY & CONVENIENCE GROWING IN IMPORTANCE AS IT OPENS UP TO WINE & AND SAW REMARKABLE GROWTH DURING COVID RTDS AND CONSUMERS LOOK FOR A ONE STOP SHO
Slide 31: Evolving Canadian identity shifting category consumption
The Evolving Canadian Identity is also Shifting BevAlc Category Consumption - with RTDs and Spirits gaining from Gen Z YOUNGER CONSUMERS (ESP. GEN Z) ARE PARTICIPATING FEMALES CONTINUE TO OVERINDEX IN WINE AND RTD CONSUMPTION, WHILE SIGNIFICANTLY MORE IN RTDS AND SLIGHTLY MORE IN SPIRITS LAGGING IN
Slide 32: Innovation is a key growth driver for Corby
Innovation is a Key Growth Driver for Corby, with Newly Launched Innovations helping to offset declines elsewhere in the portfolio Corby Spirits Innovation Contribution to RSV Growth ($000s) Top FY25 Spirits Innovations RSV -1.7% 1,250,232 1,228,381 -1,342 2,089 6,508 -29,106 Total Innovation Contri
Slide 33: Top spirits innovations come from various categories
Top Spirits Innovations are coming from various categories; Corby has three of the top ten innovations, two imported and one domestic Innovation is a bright spot for the Spirits Regional Innovations making impact Two paths to innovation: Large established market in Canada on a National scale brands
Slide 34: Our Unique Advantage
O U R U N I Q U E A D VA N TA G E GROWTH MINDSET OUR UNIQUE CORBY OWNED BRANDS AFFILIATED WITH PERNOD RICARD WITH DOMESTIC AND EXPORT FOCUS CUTTING EDGE TOOLS TO DRIVE OUR DISTILLERIES AND COMPETITIVE ADVANTAGE PASSIONATE BLENDERS LONGSTANDING PARTNERSHIPS GLOBALLY RENOWED BRANDS WITH CUSTOMERS GLOB