Commentary & Deal Flow

Pernod Ricard, worldwide leader in the spirits and champagne industry, with prestigious portfolio of premium to luxury brands, (ticker: "RIFP", country: FR) rated Baa1/BBB+ (Moody's/S&P), has mandated Citi, ING, Natixis and Société Générale as Global Coordinators together with Barclays, BNP Paribas, Credit Agricole CIB and HSBC as Active Bookrunners to arrange a series of fixed income investor calls to be scheduled on 20-Oct. An electronic investor presentation will be made available. ING will be coordinating logistics.

An expected € benchmark, Reg S Bearer, hybrid PerpNC5.25 & PerpNC8 € offering will follow, subject to market conditions.

• Expected Issue Ratings: Baa3/BBB- (Moody's/S&P)
• Use of Proceeds: The proceeds of the Notes will be used for general corporate purposes, including the financing of the concomitant tender offer.
• Tender Offer: Pernod Ricard has concurrently announced a tender offer across its €600mm 3.750% Notes due September 2027, €500mm 0.500% Notes due October 2027, €600mm 3.250% Sustainability-Linked Notes due November 2028, €1bn 1.750% Notes due April 2030, €700mm 3.375% Notes due November 2030, €800m 3.250% Notes due March 2032 and €500mm 3.750% Sustainability-Linked Notes due November 2032, pursuant to the Tender Offer Memorandum dated 20-Oct-26. If 75% of the €600mm 3.750% Notes due September 2027 is purchased and cancelled, Pernod Ricard also intends, following pricing of the New Notes, to give notice of the exercise of its option to redeem the remainder of the notes at par plus accrued interest. Citi, ING and Natixis are Dealer Managers on the tender offer. The expiration of the tender offer is 4PM Paris time on 27-Oct-26.
• Roadshow Information: A pre-recorded DealRoadshow presentation (with voiceover) will also be made available.