Becle, S.A.B. de C.V. Reports 3Q26 Unaudited Financial Results

Mexico City, Mexico, October 28th, 2026 / — BECLE, S.A.B. de C.V. (“Cuervo”, “Becle” or the “Company”) (BMV: CUERVO) announced today its financial results for the third quarter ended September 30th, 2026.

All figures in this release are derived from the Company’s interim consolidated financial statements as of September 30th, 2026, and for the nine-month period that ended on the same date, which are prepared in accordance with International Financial Reporting Standards (IFRS).

Third Quarter 2026 Highlights

• Volume declined 8.7% to 5.7 million 9L cases; Excluding b:oost, volume declined 5.6%, with a further sequential improvement in U.S. shipments as the distributor transition continues to progress.
• Net sales decreased 15.3%; On a constant currency basis, net sales decreased 10.3%, or 9.6% excluding b:oost, driven by lower volumes and an unfavorable regional price/mix.
• On a constant currency basis, gross margin decreased 330 bps, from 56.1% to 52.8%, driven by net sales per case pressure.
• Excluding the effect of the P$753 million gain in other income recorded in the third quarter of 2025, EBITDA margin declined 760 bps, from 24.8% to 17.2%, on a constant currency basis.
• Generated $1.0 billion pesos in net cash from operating activities.
• Lease-adjusted net leverage of 1.3x, within the Company’s 1.0x to 1.5x target range.

All above-mentioned increases and decreases are compared to the corresponding period from last year.

Management commentary

“During the third quarter, the realignment of our U.S. distribution continued to progress, and our portfolio continued to outperform the broader full-strength spirits market, with our largest transition markets returning to growth. We remained focused on disciplined execution, protecting our brands and financial strength, and committed to creating sustainable value over time.”

3Q26 Unaudited Financial Results Conference Call and Webcast Details

Date: Thursday, October 29th, 2026

Time: 9:00 a.m. Mexico City Time (11:00 a.m. E.T.)

Participants: Juan Domingo Beckmann (CEO), Rodrigo de la Maza (CFO)

How to join the conference call via the internet:

1. Please sign up ahead of time to access the webcast at: https://tinyurl.com/Becles3Q26ConferenceCall.
2. After registering, you will receive a confirmation email with instructions on how to join.
3. Webinar ID: 820 0806 1253

How to join the conference call via telephone:

1. Dial one of the Mexican or International numbers below.
2. Enter the webcast ID (820 0806 1253), followed by the # sign.
3. If the meeting has not yet started, press # to wait.
4. You will be prompted to enter your unique participant ID. Press # to skip.

Dial-in:

Mexico: +52 558 659 6002

United States: +1 646 558 8656

United Kingdom: +44 330 088 5830

Brazil: +55 21 3958 7888

Other international numbers available at: https://us02web.zoom.us/u/knEOJCJkC

Miranda Newswire – Full Press Release: Download PDF

Contact:

Investor Relations:

Christophe Escartin

cescartin@cuervo.com

Investor Relations

ir@cuervo.com

Corporate Affairs:

Alberto Moreno

amoreno@cuervo.com

About Becle

Becle is a globally renowned company in the spirits industry and the world’s largest producer of tequila. Its extraordinary portfolio of over 30 spirits brands, some of them owned, some of them agency brands distributed only in Mexico, has been developed throughout the years to participate in key categories with high growth potential, serving the world’s most important alcoholic beverage markets and delivering on key consumer preferences and tendencies.

Becle’s portfolio strength is based on the profound legacy of its iconic internally developed brands such as Jose Cuervo®, combined with complementary acquisitions such as Three Olives®, Hangar 1®, Stranahan’s®, Bushmills®, Pendleton®, Boodles® and Proper No. Twelve®, as well as a relentless focus on innovation that over the years has created renowned brands such as 1800®, Maestro Dobel®, Centenario®, Kraken® and Jose Cuervo® Margaritas. Becle’s brands are sold and distributed in more than 85 countries.

EBITDA

EBITDA is a measure used in the Company’s financial analysis that is not recognized under IFRS but is calculated from amounts that derive from the Company’s financial statements. We calculate EBITDA as net income plus depreciation and amortization, income tax expense, and interest expense, less interest income, plus foreign exchange gain (loss).

EBITDA is not an IFRS measure of liquidity or performance, nor is EBITDA a recognized financial measure under IFRS. We believe that EBITDA can be useful to facilitate comparisons of operating performance between periods on a combined basis, but these metrics may be calculated differently by other issuers. EBITDA should not be construed as an alternative to (i) net income as an indicator of the Company’s operating performance or (ii) cash flow from operating activities as a measure of the Company’s liquidity.

Disclaimer

This press release contains certain forward-looking statements which are based on Becle’s current expectations and observations. Actual results obtained may vary significantly from these estimates. The information related to future performance contained in this press release should be read jointly with the risks included in the “Risk Factors” section of the Annual Report filed with the Comisión Nacional Bancaria y de Valores (Mexican National Banking and Securities Commission). This information, as well as future statements made by Becle or by any of its legal representatives, either in writing or verbally, may vary significantly from the actual results obtained. These forward-looking statements speak only as of the date on which they are made, and no assurance can be made as to the actual results obtained. Becle undertakes no obligation and does not intend to update or review any such forward-looking statements, whether as a result of new information, future developments or other related events.