Brown Family Governance Journey WSWA Leadership Skills Conference - PowerPoint PPT Presentation

Brown Family Governance Journey WSWA – Leadership Skills Conference Tuesday, July 15 th Campbell P. Brown

2

Who is Brown-Forman? Publicly traded and family controlled High quality premium spirit & wine producer with more than $3B in sales 3 B-F brands are supported by over 4,800 employees and are sold in more than 170 countries worldwide More than 40 spirit, wine and RTD products crafted in 7 different countries Own the iconic Jack Daniel’s Tennessee Whiskey Highest relative ROIC in our industry* S&P 500 “Dividend Aristocrat” *As of 4-31-18

B U S I N E S S J O U R N E Y Our Governance Journey More than 3,700 publicly-traded companies 4 A F A M I L Y

B U S I N E S S J O U R N E Y Our Governance Journey 140 publicly listed, family controlled companies 5 A F A M I L Y

B U S I N E S S J O U R N E Y Our Governance Journey Brown-Forman is the 5 th oldest among this exclusive group Only 17 publicly listed, family controlled companies founded before 1900 6 A F A M I L Y

Newspaper of the Year WORLD BUSINESS NEWSPAPER FRIDAY, 22 MARCH, 2019 LONDON Family ties complicate the 7 mix when it comes to spirits Patience is a virtue among expert distillers of high-end whisky or cognac, which often wait years for the spirits to age to perfection…

Brown Family Governance System Board 8 Company Family

Brown-Forman Leadership P r e s i d e n t s , C E O s & C h a i r m e n o f t h e B o a r d B r o w n F a m i l y N o n - B r o w n F a m i l y 1870 - 1917 1917 - 1945 1945 - 1951 1951 - 1966 1966 - 1969 1969 - 1975 1975 - 1993 1993 - 2007 2007 - 2018 2018 + George Garvin Owsley W.L. Lyons Geo. Garvin Daniel L. William F. W.L. Lyons Owsley Paul C. Lawson 9 Brown Brown I Lucas Brown, Sr. Brown II Street Brown, Jr. Brown II Varga Whiting C h a i r m e n o f t h e B o a r d George Owsley W.L. Lyons Geo. Robinson W.L. Lyons Owsley W.L. George Garvin Brown I Brown, Sr. Garvin Lyons Brown, Jr. Brown, Jr. Brown II Garvin Brown Brown II Brown, Brown IV Sr. A F A M I L Y B U S I N E S S J O U R N E Y

What is the Role of the Family Shareholders Committee? What is the Role of the Family Shareholders Committee? • Establishes a governance framework to support and ensure engaged stewardship and organized communication between our Family and Brown-Forman • Balanced representation of Brown Family Branches, Brown-Forman Management led by Board Chair and Company CEO • Provides another platform in which family members and spouses can engage with the Company and Industry in a meaningful way without having to be a manager within the Company 10

What is the Role of the Wolf Pen Branch LLC? • Supports and protects the independence of Brown-Forman • Enhances privacy • Allows us to continue to build consensus and to provide a unified voice articulating our strong position of being supportive multigenerational shareholders 11

The Letter Video Placeholder

Thank you.