Proximo Looking Forward to Stronger H2 as Inventories Stabilize

Dear Client:  Grupo Cuervo's global net sales were down 14% for the second quarter of fiscal 2026, ended June, driven in large part by negative currency effects as the Mexican peso appreciated against the US dollar. On a constant currency basis, global net sales were down about 6%.  Meanwhile, global volumes were down 6.7%, although this was weighed down by the late 2025 divestiture of the b:oost energy drink brand– taking that out of the equation, global volumes were down