Fevertree Drinks : FY24 RESULTS PRESENTATION - (25 Mar 25)

AGENDA

• 1 FY24 Summary & future opportunity

• 2 Sustainability

• 3 Financial Review

• 4 Strategic update

• 5 Summary

Key messages

Fever-Tree is in a fantastic position to capture the evolving global opportunity

Broadening global opportunity

• • Global trends remain firmly in Fever-Tree's favour

• • Fever-Tree is uniquely positioned across all adult socialising occasions, from mixing, to lower ABV options, as well as a premium non-alc alternative.

  Transformative partnership with Molson Coors

• • Fever-Tree will leverage Molson Coors' national network of US distributors and customers, the scale and strength of their sales and commercial teams, alongside a substantial incremental marketing fund to drive the US opportunity.

Improving quality of earnings

• • Increased revenue opportunity, with guaranteed profits and lower working capital requirements, will generate a significant increase in cash generation with an ongoing ability to return cash to shareholders

• • Intention to extend the initial buyback programme by £29m to £100m, subject to shareholder approval.

FY24 Strategic Progress

The brand continues to outperform the category across our key regions

✓	Nielsen sales growth +15%,	✓ The brand maintained its #1
significantly ahead of the	position by value
category1
✓ Non-Tonic products performed
✓	Extended our #1 value share in	strongly and now comprise
Ginger Beer and Tonic	c.30% of our UK sales as we
categories to 32% and 27%	continue to diversify across
respectively.	adult socialising occasions

✓	Continue to gain share of the	✓ Fever-Tree is growing well
total mixer category and extend	ahead of the mixer category in
our strong lead as the #1	Australia and Canada,
premium mixer2	supported by strong marketing
activities
✓	Driving the growth of the
Ginger Beer category, with	✓ Good growth in our can
c.39% value share2	format across both markets

*year-on-year Fever-Tree brand revenue growth at constant currency; 1Nielsen 52 weeks to 28 Dec 2024; 2Nielsen 2024 top 12 EU markets;

Evolution of the total addressable opportunity for the Fever-Tree brand

Adult socialising occasions

• ✓ There's an increasing interest in good quality ingredients

• ✓ Global spirits continue to grow, take share of TBA and premiumise

• ✓ The brand still has a considerable amount of white space to penetrate globally, both in existing and new markets

✓

Consumers are more health conscious than ever before, but still want to treat themselves

✓ Lower calorie and lower ABV options are becoming increasingly popular

✓

Consumers increasingly want to socialise with both alcoholic and non-alcoholic drinks

✓ Flavour, quality and sophistication are just as important for non-alcoholic occasions

No brand is better positioned to capture this fast-growing global opportunity

Adult socialising occasions

Mixing with spirits

Lower calorie & ABV

#1 premium mixer brand:

• • Fever-Tree is the largest premium mixer brand by value across the world, extending our lead against the competition and making us the clear choice for co-promotions and partnerships across a broad spectrum of drinking occasions, with a right to play in adult non-alc occasions.

Broad range and best-in-class innovation:

• • Fever-Tree's unparallelled mixer range caters to the full spectrum of spirit categories, including lower ABV options, as well as being a high- quality non-alcoholic option, with a strong innovation track record to continue to deliver against evolving trends.

Route-to-market execution:

• • Extensive distribution coverage with strong presence, partners and expertise selling into both the On-Trade and Off-Trade.

Post-period end Fever-Tree announced a strategic partnership with Molson Coors

Strategic alignment

• • Shared vision, belief and commitment to driving Fever-Tree's opportunity across alcohol and non-alcoholic categories

• • Establishes Fever-Tree as an important contributor to Molson Coors' Beyond Beer ambitions

Scale & platform

• • Molson Coors' national network across the On- and Off-Trade accelerates Fever-Tree's ability to broaden and deepen its distribution in new and existing channels

• • High-frequency account visits are ideal for Fever-Tree's rate-of-sale

Step-change in marketing investment

• • Substantial incremental marketing fund providing the firepower to drive further brand and category awareness

• • Ability to leverage Molson Coors' buying power and strong execution

Local US production

• • Molson Coors will manage the onshoring of production over the medium-term, reducing lead times and exposure to trans-Atlantic freight costs, as well as capitalising on Molson Coors' ability to drive operational efficiencies

The new US partnership enhances the Group's earnings quality and cash generation

Retain sufficient cash	Distribute surplus
to drive the global	cash to
opportunity	shareholders

Sustainability

Strong progress made across the ESG spectrum in 2024

• • Global corporate & product carbon footprint analyses completed

• • 100% renewable electricity used across our operations

• • Purchased HVO- ready trucks in the UK

• • Climate risk assessment with TCFD report

• • Conducted first global packaging footprint analysis

• • Exploring options to increase recycled content in packaging

• • Winners at the Drinks Sustainability Awards for Tiny Forest partnership with Earthwatch and Mitchells & Butlers

• • US On-Trade holiday and retail activations supporting One Tree Planted

• • Water stewardship strategy advanced

• • Launched Fever- Tree's Human Rights Charter for priority supply chains

• • Funded 'Power of Everyone' malaria behaviour change campaign, reaching 11.45 million people in Kenya

• • Fifth year of Future Frontiers mentoring programme

• • DEI working groups formally set up across our key markets

• • Established "Green Team" employee resource group

Strategic update