Brown Forman : Greenhouse Gas Verification Statement (Fiscal Year 2023)

VERIFICATION OPINION DECLARATION

GREENHOUSE GAS EMISSIONS

To: The Stakeholders of Brown-Forman

Apex Companies, LLC (Apex) was engaged to conduct an independent verification of the greenhouse gas (GHG) emissions reported by Brown-Forman Corporation (Brown-Forman) for the period stated below. This verification opinion declaration applies to the related information included within the scope of work described below.

The determination of the GHG emissions is the sole responsibility of Brown-Forman.Brown-Forman is responsible for the preparation and fair presentation of the GHG emissions statement in accordance with the criteria. Apex's sole responsibility was to provide independent verification on the accuracy of the GHG emissions reported, and on the underlying systems and processes used to collect, analyze and review the information. Apex is responsible for expressing an opinion on the GHG emissions statement based on the verification. Verification activities applied in a limited level of assurance verification are less extensive in nature, timing and extent than in a reasonable level of assurance verification.

Boundaries of the reporting company GHG emissions covered by the verification:

• Operational Control
• Worldwide
• Exclusions from the scope of the reporter's GHG emissions statement

1. CO2 emissions from fermentation processes

1. Natural gas consumption from leased office spaces Types of GHGs: CO2, N2O, CH4, HFCs

GHG Emissions Statement:

• Scope 1: 150,435 metric tons of CO2 equivalent
• Scope 2 (Location-Based): 59,420 metric tons of CO2 equivalent
• Scope 2 (Market-Based): 11,953 metric tons of CO2 equivalent
• Scope 3:
• 1. Purchased Goods and Services: 792,725 metric tons of CO2 equivalent
  1. Business Travel: 4,113 metric tons of CO2 equivalent

Data and information supporting the Scope 1 and Scope 2 GHG emissions assertion were in most cases historical in nature, but in some cases estimated.

Data and information supporting the Scope 3 GHG emissions statement were in some cases estimated rather than historical in nature.

Global Warming Potential (GWP) and emission factor data sets:

• IPCC GWP: AR5
• The Climate Registry, released 2023
• USEPA eGRID, released 2024
• IEA, released 2023

WATER • ENVIRONMENTAL • HEALTH & SAFETY • COMPLIANCE & ASSURANCE • INFRASTRUCTURE

Apex Companies, LLC • [phone] • www.apexcos.com

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• DEFRA, released 2023
• USEEIO Supply Chain GHG Emission Factors_v1.2
  Period covered by GHG emissions verification:
• May 1, 2022 to April 30, 2023

Criteria against which verification conducted:

• World Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD) Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standard (Scope 1 and 2).
• WRI/WBCSD Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard (Scope 3).

Reference Standard:

• ISO 14064-3 Second Edition 2019-04: Greenhouse gases -- Part 3: Specification with guidance for the validation and verification of greenhouse gas statements

Level of Assurance and Qualifications:

• Limited
• This verification used a materiality threshold of ±5% for aggregate errors in sampled data for each of the above indicators

GHG Verification Methodology:

Evidence-gathering procedures included but were not limited to:

• Interviews with relevant personnel of Brown-Forman;
• Review of documentary evidence produced by Brown-Forman;
• Site visit to Brown-Forman's operations in Lynchburg, Tennessee;
• Review of Brown-Forman data and information systems and methodology for collection, aggregation, analysis and review of information used to determine GHG emissions;
• Audit of sample of data used by Brown-Forman to determine GHG emissions.

Verification Opinion:

Based on the process and procedures conducted, there is no evidence that the GHG emissions statement shown above:

• is not materially correct and is not a fair representation of the GHG emissions data and information; and
• has not been prepared in accordance with the WRI/WBCSD GHG Protocol Corporate Accounting and Reporting Standard (Scope 1 and 2), and WRI/WBCSD Greenhouse Gas Protocol Corporate Value Chain Accounting and Reporting Standard (Scope 3).

It is our opinion that Brown-Forman has established appropriate systems for the collection, aggregation and analysis of quantitative data for determination of these GHG emissions for the stated period and boundaries.

Statement of independence, impartiality and competence

Apex is an independent professional services company that specializes in Health, Safety, Social and Environmental management services including assurance with over 30 years history in providing these services.

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No member of the verification team has a business relationship with Brown-Forman, its Directors or Managers beyond that required of this assignment. We conducted this verification independently and to our knowledge there has been no conflict of interest.

Apex has implemented a Code of Ethics across the business to maintain high ethical standards among staff in their day-to-day business activities.

The verification team has extensive experience in conducting assurance over environmental, social, ethical and health and safety information, systems and processes, has over 20 years combined experience in this field and an excellent understanding of Apex's standard methodology for the verification of greenhouse gas emissions data.

Attestation:

Jessica Jacobs, Lead Verifier	David Reilly, Technical Reviewer
ESG Senior Project Manager	ESG Principal Consultant
Apex Companies LLC	Apex Companies LLC

June 20, 2024

This verification opinion declaration, including the opinion expressed herein, is provided to Brown-Forman and is solely for the benefit of Brown-Forman in accordance with the terms of our agreement. We consent to the release of this declaration by you to the public or other organizations but without accepting or assuming any responsibility or liability on our part to any other party who may have access to this declaration.