Constellation Brands, Inc.: Constellation Brands Further Strengthens ESG Commitment with New Waste Reduction and Circular Packaging Targets

Company sharpens focus on reducing operational waste and enhancing its use of returnable, recyclable, or renewable packaging as part of long-standing commitment to environmental stewardship

VICTOR, N.Y., April 27, 2023 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today two new environmental stewardship commitments - pursuing a TRUE Zero Waste to Landfill Certification in key operating facilities and significantly enhancing its use of circular packaging across its beverage alcohol portfolio, both by fiscal year 2025. These initiatives will be integrated into the company's annual operating plans and will further bolster Constellation's efforts to serve as good stewards of our environment and natural resources.

As part of this commitment, the company will execute plans to attain TRUE Zero Waste to Landfill Certificationin its key operating facilities₁ by fiscal year 2025 by further reducing operational waste across its facilities and enhancing diversion from landfills. TRUE Zero Waste to Landfill Certification is the first zero waste certification program dedicated to measuring, improving, and recognizing zero waste performance by encouraging the adoption of sustainable materials management and reduction practices which contribute to positive environmental, health, and economic outcomes.

To achieve its goal of significantly enhancing circular packaging across its beverage alcohol portfolio by fiscal year 2025, Constellation will execute targeted plans to:

• Reduce its ratio₂ of packaging weight to product weight by 10% across its Wine & Spirits portfolio₃.
• Ensure that 80% of packaging from its Wine & Spirits portfolio is returnable, recyclable, or renewable.
• Replace hi-cone plastic rings with recyclable paperboard for all applicable 4-pack and 6-pack SKUs across its Beer portfolio.

"Constellation has a long-standing commitment to operating in a manner that safeguards our environment and natural resources and our team is laser-focused on continuing to build on this commitment through a disciplined approach and by executing targeted initiatives that are both good for our business and key stakeholders and good for the world," said Mike McGrew, Constellation Brands' Executive Vice President and Chief Communications, CSR, and Diversity Officer. "Our introduction of new waste reduction and circular packaging targets is yet another example of this commitment. We look forward to continuing to work to make a positive difference in local communities where we live and work."

These new commitments and targets are part of Constellation's broader ESG ambitions which are grounded in the following focus areas:

• Serving as good stewards of our environment and natural resources - modeling water stewardship for the beverage alcohol industry; reducing greenhouse gas (GHG) emissions through energy conservation and renewable energy initiatives; and now, reducing operational waste and enhancing the use of returnable, recyclable, or renewable packaging.
• Enhancing social equity within our industry and communities - championing the professional development and advancement of women in the beverage alcohol industry and our communities; enhancing economic development and prosperity in disadvantaged communities; and championing an inclusive culture characterized by diversity in background and thought, which reflects the consumers and communities where we live and work.
• Promoting responsible beverage alcohol consumption - ensuring the responsible promotion and marketing of the company's products and empowering adults to make responsible choices in their alcohol (substance) consumption by supporting fact-based education, engagement programs, and policies.

The company has made meaningful progress in these focus areas over the past year, most notably around water stewardship where it recently surpassed its target of restoring approximately 1.1 billion gallons of water withdrawals from local watersheds, while improving accessibility and the quality of water for communities where the company operates. The company plans to announce a new water stewardship target later this fiscal year and will disclose progress made in each of its ESG focus areas in its 2023 ESG Impact Report which will be released this fall.

For more information on Constellation's ESG strategy, visit the company's website at www.cbrands.comunder the Sustainabilitysection or reference the company's 2022 ESG Impact Report. To watch a brief video highlighting Constellation's ESG strategy click here.

₁ Key operating facilities, for the purposes of this target, consist of our major production facilities (i.e., our breweries in Mexico and our U.S. wineries generating the vast majority of waste).
₂ Total packaging weight vs weight of wine or spirits liquid.
₃ From baseline fiscal year 2022 ratio of packaging weight to product weight in Wine & Spirits portfolio.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word "expect" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to our business and ESG strategies, future plans, events, performance, commitments, targets, goals, objectives, or reporting, future operations, future environmental, financial, or social metrics, or expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur.

The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur. All forward-looking statements speak only as of the date of this news release and Constellation Brands does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to the risk, uncertainty, and possible variance from our current expectations regarding: future global economic conditions; market conditions; regulatory conditions; unanticipated environmental liabilities and costs; changes to governmental rules and regulations; the actions of competitors; consumer expectations and preferences; and other factors and uncertainties disclosed from time-to-time in Constellation Brands' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2023, which could cause actual future performance to differ from current expectations.

ABOUT CONSTELLATION BRANDS

Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It's worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what's next.

Every day, people reach for our high-end, iconic imported beer brands such as those in the Corona brand family like the flagship Corona Extra, Modelo Especial and the flavorful lineup of Modelo Cheladas, Pacifico, and Victoria; our fine wine and craft spirits brands including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey; and our premium wine brands such as Kim Crawford and Meiomi.

As an agriculture-based company, we have a long history of operating sustainably and responsibly. Our ESG strategy is embedded into our business and our work focuses on serving as good stewards of the environment, enhancing social equity within our industry and communities, and promoting responsible beverage alcohol consumption. These commitments ground our aspirations beyond driving the bottom line as we work to create a future that is truly Worth Reaching For.

To learn more, visit www.cbrands.comand follow us on Twitter, Instagram, and LinkedIn.

MEDIA CONTACTS	INVESTOR RELATIONS CONTACTS
Amy Martin 585-678-7141 / [e-mail] (mailto:[e-mail]) Carissa Guzski 315-525-7362 / [e-mail] (mailto:[e-mail])	Joseph Suarez 773-551-4397 / [e-mail] (mailto:[e-mail]) Snehal Shah 847-385-4940 / [e-mail] (mailto:[e-mail]) David Paccapaniccia 585-282-7227 / [e-mail] (mailto:[e-mail])

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