Corby Spirit exercises Ace Beverage Holdco call option

Mr. Juan Alonso reports CORBY SPIRIT AND WINE EXERCISES ACE BEVERAGE CALL OPTION Corby Spirit and Wine Ltd. has exercised its call option provided for in the shareholder agreement between Corby, Ace Beverage Holdco Inc. (Ace Holdco) and the other shareholders of Ace Holdco, dated July 4, 2023, to purchase additional outstanding shares of Ace Holdco, increasing its ownership stake in Ace Holdco by 5 per cent to 95 per cent of the issued and outstanding shares. "The strategic acquisition of Ace Beverage and its Cottage Springs ready-to-drink cocktails (RTDs) enabled us to become one of the top players in RTDs in Canada. The combined strength of our companies unlocked new opportunities, including the subsequent acquisition of Nude RTDs, and the continuing innovation of our Pernod Ricard and Corby branded RTDs. We look forward to building further upon the momentum that this acquisition provided and the benefits it continues to create for our consumers, customers and shareholders," said Nicolas Krantz, Corby's president and chief executive officer. Ace Beverage Group's (ABG) co-founder, Cam McDonald, added: "Combining ABG's expertise and entrepreneurial approach to RTDs with Corby's experience and resources has really helped grow the combined businesses. We're excited to continue developing industry-leading beverages and sharing our pipeline of new products with consumers." Separately, Corby also announced that its subsidiary, ABG, has sold certain non-core brands to Twenty Bench Brewing Company Inc. The sale to Bench Brewing included only the Ace Hill beer, Ace Hill RTDs and Liberty Village Dry Cider brands. The transaction is part of Corby's active portfolio management approach, whereby non-strategic SKUs (stock-keeping units) are rationalized, enabling sharper focus on its core brand portfolio for continued innovation and growth in key categories. About Corby Spirit and Wine Ltd. Corby is a leading Canadian manufacturer, marketer and distributor of spirits, wines and ready-to-drink beverages. Corby's portfolio of owned brands includes some of the most renowned brands in Canada, including J.P. Wiser's, Lot 40 and Pike Creek Canadian whiskies, Polar Ice vodka, Lamb's rum, and McGuinness liqueurs, as well as the Ungava gin, Cabot Trail maple-based liqueurs and Chic Choc spiced rum, Cottage Springs ready-to-drink beverages, and Foreign Affair wines. Through its affiliation with Pernod Ricard, a global leader in the spirits and wine industry, Corby also represents leading international brands such as Absolut vodka, Chivas Regal, The Glenlivet and Ballantine's Scotch whiskies, Jameson Irish whiskey, Beefeater gin, Malibu rum, Kahlua liqueur, and Mumm champagne. Corby also represents Vinarchy's Jacob's Creek, Wyndham Estate, Stoneleigh and Campo Viejo wines. Corby is a publicly traded company based in Toronto, Ont., and is listed on the Toronto Stock Exchange under the trading symbols CSW.A and CSW.B.