On December 15, 2023, Louis Vachon provided his notice of retirement as a Class A Director of Molson Coors Beverage Company (the ? Company?) and member of the Finance Committee of the Company?s Board of Directors (the ? Board?) effective December 15, 2023.

Further, on December 15, 2023, the Class A-M Subcommittee of the Governance Committee of the Board appointed Jill Timm to the Board effective December 16, 2023 to serve a term initially expiring at the Company?s 2024 Annual General Meeting of Stockholders. Ms. Timm is expected to be appointed to specific committees of the Board at a later date. Timm, who has nearly 30 years of experience in finance and corporate leadership, is chief financial officer at Kohl?s, where she has worked since 1999.

At Kohl?s, Timm leads financial planning and analysis, investor relations, financial reporting, accounting operations, tax, treasury and corporate strategy. A frequent public speaker on issues involving business, finance and leadership, Timm has also served on the University of Wisconsin-Milwaukee Business Advisory Council and the Executive Committee of the Milwaukee Public Museum Board of Directors. In 2021, she was a featured speaker on a women?s leadership panel at the Fortune Most Powerful Women Summit.

Timm earned a Bachelor of Business Administration from the University of Wisconsin-Whitewater in 1995 and completed a Harvard Business School Executive Education series for senior executives in finance. Since joining Kohl?s as a senior financial analyst in 1999, she has been promoted steadily through the company, culminating with her appointment as CFO in 2019. Vachon, the former president and CEO of the National Bank of Canada, has served on the Molson Coors Board of Directors since 2012.

He has most recently applied his expertise in finance and markets as chair of the board?s finance committee.