MillerCoors Results and Related Reconciliations


The table below reconciles net income attributable to MillerCoors, reported in accordance with US GAAP as used for inclusion within Molson Coors reported results, to MillerCoors EBITA as used for inclusion within SABMiller's reported results in accordance with IFRS. Underlying net income and EBITA are non-GAAP measures. Management of both companies believes that underlying net income and EBITA provide shareholders with a useful basis for assessing the profit performance of MillerCoors. There are limitations to using non-GAAP financial measures, including the difficulty associated with comparing companies that use similarly named non-GAAP measures whose calculations may differ from the company's calculations.

MillerCoors Reconciliation of US

GAAP Net Income to Underlying Net Income (non-GAAP
measure) and to EBITA, calculated under IFRS.

Three Months Ended
MillerCoors
(In millions of $US) March 31, March 31,
2010 2009


US - GAAP : Net Income 208.6 206
Plus: Special items 8.6 10.4
Non - GAAP underlying Net Income 217.2 216.4
Plus: Adjustments to arrive at IFRS Underlying EBITA 28.5 18.7
IFRS : MillerCoors underlying EBITA 245.7 235.1





P 4.5%

ercent change vs. prior year MillerCoors

underlying

EBITA³

Special items include integration charges related to the

MillerCoors Joint Venture.

US - GAAP Underlying Net Income to IFRS EBITA adjustments
relate to differing treatmentof step-up
depreciation,
pension, post retirement benefits, consolidation of container
joint ventures, asset disposal, deferred taxes,
severance expenses and share based compensation between US - GAAP
and IFRS.
Amortization of intangible assets, Interest,
Taxes, and non controlling interest have been removed to
arrive at underlying EBITA.
EBITA - Earnings Before Interest, Taxes, and Amortization,
excluding exceptional items.