Becle, S.A.B. de C.V.

good morning and thank you for joining beckley's third quarter unaudited financial results call during this call you may hear certain forward-looking statements these statements may relate to our future prospects developments and business strategies and may be identified by our use of terms and phrases such as anticipate believe could estimate expect intend may plan predict project will, goals, target, strategy, and similar terms and phrases and may include references to assumptions. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those in forward-looking statements. For all other foregoing reasons, you are cautioned against relying on each such looking statement. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Now, I'll welcome Fernando Suarez, Chief Financial Officer. Fernando, you are now on the line.

Good morning, everyone. And thank you for joining us today to discuss our third quarter 2021 results, ended September 30th, 2021. I am joined today by Juan Domingo Beckman, Chief Executive Officer, Michael Keyes, President and CEO of Proximal Spirits, Luis Felix, Managing Director of Mexico and LATAM and incoming CEO of Proximal Spirits, Olga Limon, Managing Director of Mexico and LATAM, Gordon Drone, Managing Director of EMEA and APAC, and Mauricio Jordano Ferreira, Chief Global Supply Chain Officer. Before we begin, we would like to remind you that the figures discussed in this call were prepared in accordance with International Financial Reporting Standards, or IFRS, and published on the Mexican Stock Exchange. The information for the third quarter of 2021 is preliminary and is provided With the understanding that once financial statements are available, updated information will be shared in the appropriate electronic formats. At this time, we would like to remind participants that your lines will be in listening mode only and until question and answer session. Now, I will pass the call on to Beckless CEO, Mr. Fondomingo Beckman.

Good morning, and thank you for joining us today as we discuss Beckless Third Quarter 2021 results. I will start off by making some opening comments, and then, as usual, I will ask my keys to discuss the performance of our U.S. and Canada businesses. Luis Fede will go over our Mexico and Latin results, and then Gordon Drone will discuss our results from India and APAC regions. Following that, Fernando Suarez will walk you through our financial results. As announced back in July, I would like to take the opportunity to thank Mike Keyes for these years of service at Proximo and for helping Ms. Felix in an orderly transition by the end of this year. I also welcome back Olga Limon to the Cuervo team. Although the COVID pandemic continues to weigh on daily life, we are encouraged by the sequential mobility increases seen across our regions. Naturally, the off-premise sales boost we experienced last year have provided tough comps for 2021. These effects, coupled with supply chain constraints and foreign exchange headwinds, have made a challenging third quarter. However, underlying demand in the U.S. and Canada remains resilient, and the region's performance was still considerably above the 2019 baseline. Mexico and rest of the world regions top line have double-digit growth versus the third quarter of 2020. Consolidated volume for the third quarter was down by 2% and net sales decreased by 7.9% compared to the same period of 2020. These decreases were mainly due to the industry-wide supply chain issues previously mentioned. In the U.S. and Canada, volume was down 18.6% versus Q3 2020, which is due to the supply chain and distribution constraints and a tough comparison base for the region. We remain confident about our underlying demand, as depletions are holding up against the very strong 2020 numbers. As consumers' behavior and channel performance normalize at an increasingly faster pace, we saw strong performance across the rest of the world regions, which especially favored tequila. Volume for the quarter was up in such regions by 50%, and depletions hit record highs. The Mexico region also had a very strong quarter as a result of our initiatives and the gradual normalization of mobility. In Mexico, our volumes were up by 23%, and our net sales value were up by 33%, as a result of our successful pricing and product mix strategies. The region also experienced industry-wide supply chain issues, but has been managing by way of prioritizing higher value SKUs. We are confident that the demand for our brands, along with the growing international demand of premium spirits, will allow us to overcome the short-term supply chain challenges and continue delivering value to all of our shareholders. I will now turn the call over to Mike Keeves to give more color on our US and Canada results.