Table of Con ITEM 1. BUSINESS PART I We have four reportable segments: (i) Beer, (ii) Wine and Spirits, (iii) Corporate Operations and Other, and (iv) Canopy. The business segments reflect how our operations are managed, resources are allocated, operating performance is evaluated by senior management, and the structure of our internal financial reporting. Our ownership interest in Canopy allows us to exercise significant influence, but not control, and, therefore, we account for our investment in Canopy under the equity method. Amo unts included below for the Canopy segment represent 100% of Canopy’s reported results on  a two-month lag,  prepared in accordance with  U.S. GAAP , and converted from Canadian dollars to U.S. dollars. Although we own less than 100% of the outstanding shares of Canopy, 100% of the Canopy results are included in the information below and subsequently eliminated to reconcile to our consolidated financ ial statements . We report net sales in two reportable segments, as Canopy is eliminated in consolidation, as follows: For further information about our significant Fiscal 2021, Fiscal 2020, and Fiscal 2019 transactions, refer to (i) MD&A and (ii) Notes 2 and 10. Business segments For the Years Ended February 28, 2021 February 29, 2020 (in millions) Beer $ 6,074.6  $ 5,615.9  Wine and Spirits: Wine 2,208.4  2,367.5  Spirits 331.9  360.1  Total Wine and Spirits 2,540.3  2,727.6  Canopy 378.6  290.2  Consolidation and Eliminations (378.6) (290.2) Consolidated Net Sales $ 8,614.9  $ 8,343.5  Date Strategic Contribution Empathy Wines June 2020 Acquisition of a digitally-native wine brand, strengthened our position in the direct- to-consumer and eCommerce markets; supported our focus on meeting the evolving needs of our consumers. Booker Vineyard April 2020 Investment in super-luxury, direct-to-consumer focused wine business; supported our focus on consumer-led premiumization trends and meeting the evolving needs of our consumers. Canopy segment May 2020 Canopy Investment May 2020 Incremental investment in Canopy; expanded our strategic relationship. #WORTHREACHINGFOR Constellation Brands, Inc. FY 2021 Form 10-K