ADDED
Class A Common Stock 2,563,034 shares Class B Common Stock 175,592,622 shares Exchangeable shares: As of February 11, 2026, the following number of exchangeable shares was outstanding for Molson Coors Canada, Inc.: Class A Exchangeable Shares 2,678,963 shares Class B Exchangeable Shares 7,093,946 shares The Class A exchangeable shares and Class B exchangeable shares are shares of the share capital in Molson Coors Canada Inc., a wholly-owned subsidiary of the registrant.
Table o f Contents MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES INDEX Page Glossary of Terms and Abbreviations 2 Cautionary Statement 3 Risk Factors Summary 3 PART I.
Risk Factors in this report and those described from time to time in our past and future reports filed with the SEC.
business in Brazil; economic trends and intense competition in European markets; shareholder activism efforts or unsolicited offers from a third-party; 4 Table o f Contents the interests of the controlling stockholders may differ from those of other stockholders; and the potential for Pentland and the Coors Trust to disagree on a matter submitted to our stockholders or the super-majority of the Board of Directors to disagree on certain actions.
and Puerto Rico with Molson Coors Brewing Company maintaining a 42% share in the joint venture.
5 Table o f Contents The brewing industry is highly competitive and our portfolio of beers competes with numerous brands in all segments which are produced by international, national, regional and local brewers.
Globally, our products also compete with other alcohol beverage categories, including wine, spirits as well as wine-based and spirits-based RTDs.
Our products' competitive position is affected by consumer preferences between and among these other categories.
Shifts between these beverage categories have resulted in a reduction in the beer segment's lead in the overall alcohol beverage market over the last decade.
Our Strategy Consumer preferences have continued to shift within the industry to above premium products, with volume growth in recent years seen in flavored malt beverages, imports and super premium portfolios.
REMOVED
Class A Common Stock 2,563,034 shares Class B Common Stock 190,157,977 shares Exchangeable shares: As of February 11, 2025, the following number of exchangeable shares was outstanding for Molson Coors Canada, Inc.: Class A Exchangeable Shares 2,678,963 shares Class B Exchangeable Shares 7,205,946 shares The Class A exchangeable shares and Class B exchangeable shares are shares of the share capital in Molson Coors Canada Inc., a wholly-owned subsidiary of the registrant.
Table of Content s MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES INDEX Page Glossary of Terms and Abbreviations 2 Cautionary Statement 3 Risk Factors Summary 3 PART I.
Risk Factors, elsewhere throughout this report and those described from time to time in our past and future reports filed with the SEC.
business in Brazil; economic trends and intense competition in European markets; the potential for Pentland and the Coors Trust to disagree on a matter submitted to our stockholders or the super-majority of the Board of Directors to disagree on certain actions; the interests of the controlling stockholders may differ from those of other stockholders; and 4 Table of Content s shareholder activism efforts or unsolicited offers from a third-party.
The beer industry is highly competitive and our portfolio of beers competes with numerous brands in all segments which are produced by international, national, regional and local brewers.
Our products also compete with other alcohol beverages, including wine and spirits, and thus their competitive position is affected by consumer preferences between and among these other categories.
Sales of spirits have grown faster than sales of beer in recent years, driven by, among other things, increased spirits advertising, a narrowing price gap with spirits and the growth of spirits-based ready-to-drink alcoholic beverages.
This has resulted in a reduction in the beer segment's lead in the overall alcohol beverage market over the last decade.
5 Table of Content s Our Strategy Consumer preferences have continued to shift within the industry to above premium products, with volume growth in recent years seen in flavored malt beverages, imports and super premium portfolios.
Consumers are also expanding further into spirits, particularly to spirits-based ready-to-drink alcoholic beverages.