DENVER MONTREAL–(BUSINESS WIRE)–Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) (“Molson Coors”)
announced today the pricing of its previously announced public offering
of 27,167,630 shares of its Class B Common Stock at a public offering
price of $86.50 per share. Molson Coors has granted the underwriters a
30-day option to purchase up to an additional 2,716,763 shares of Class
B Common Stock. The offering is expected to close on or about February
3, 2016, subject to customary closing conditions.

After deducting underwriting discounts and commissions and estimated
offering expenses, Molson Coors will receive net proceeds from shares
sold by it in this offering of approximately $2.3 billion.

Molson Coors intends to use the net proceeds of this offering to fund
the previously announced acquisition from Anheuser-Busch InBev SA/NV of
SABMiller plc’s interest in MillerCoors LLC and all other assets
primarily related to the Miller brand portfolio outside of the United
States and Puerto Rico (the “Acquisition”), and to pay related fees and
expenses of the Acquisition. The offering is not conditioned on the
closing of the Acquisition. In the event that the Acquisition is not
consummated, Molson Coors intends to use the net proceeds of this
offering for general corporate purposes, which may include share
repurchases, acquisitions or debt repayment.

UBS Investment Bank, BofA Merrill Lynch and Citigroup are acting as
joint book-running managers for the offering. BMO Capital Markets, MUFG,
RBC Capital Markets and Wells Fargo Securities are also acting as joint
book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration
statement (including a prospectus) filed with the Securities and
Exchange Commission (“SEC”), which became effective upon filing. A
preliminary prospectus supplement related to the offering was filed with
the SEC on January 26, 2016 and is available on the SEC’s website at www.sec.gov.
A final prospectus supplement related to the offering will be filed with
the SEC. A copy of the prospectus supplement and related prospectus for
the offering may be obtained by contacting: UBS Securities LLC, Attn:
Prospectus Department at 1285 Avenue of the Americas, New York, NY
10019, or by telephone at (888) 827-7275; BofA Merrill Lynch, Attn:
Prospectus Department at 222 Broadway, New York, NY 10038, or by email
at dg.prospectus_requests@baml.com;
or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146.

This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the Class B Common Stock or any
other security, nor shall there be any sale of the Class B Common Stock
or any other security in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or other
jurisdiction. Any offer or sale will be made only by means of a
prospectus and, to the extent applicable, a free writing prospectus
which has or will be filed with the SEC.

Overview of Molson Coors

Molson Coors Brewing Company is a leading global brewer delivering
extraordinary brands that delight the world’s beer drinkers. It brews,
markets and sells a portfolio of leading premium brands such as Coors
Light, Molson Canadian, Carling, Staropramen and Blue Moon across The
Americas, Europe and Asia. It operates in Canada through Molson Coors
Canada; in the US through MillerCoors; across Europe through Molson
Coors Europe; and outside these core markets through Molson Coors
International. The company is the only alcohol producer currently
recognized for world class sustainability performance through the Dow
Jones Sustainability Index. It was listed on the World Index for the
past four years and named global Beverage Sector Leader in 2012 and
2013. Molson Coors is constantly looking for ways to improve its Beer
Print.

Special Note Regarding Forward-Looking
Statements

This press release contains forward-looking statements that are based
on management’s current expectations. Such statements include, without
limitation, plans, projections and estimates regarding the use of
proceeds from the proposed offering. Such forward-looking
statements are subject to certain risks, uncertainties and assumptions,
including, without limitation, prevailing market conditions and other
factors. Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual results may
vary materially from those expected. More information about potential
risk factors that could affect Molson Coors and its results is included
in Molson Coors’s filings with the SEC, which are available at www.sec.gov.
You should not place undue reliance on forward-looking statements, which
speak only as of the date they are made. Molson Coors does not undertake
to update forward-looking statements, whether as a result of new
information, future events or otherwise.