First Supplemental Indenture



 Exhibit 4.2 

 
  

 
 MOLSON COORS BREWING COMPANY,
as Issuer 
 and 
 THE GUARANTORS NAMED HEREIN, as Guarantors 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 
  

FIRST SUPPLEMENTAL INDENTURE 
 Dated as of May 3, 2012 
 to 

INDENTURE 
  

 
 Dated as of
May 3, 2012 
 2.000% Senior Notes due 2017 

3.500% Senior Notes due 2022 
 5.000% Senior Notes due 2042 
  

 
  







 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	 ARTICLE 1. DEFINITIONS AND INTERPRETATION
	  	 	2	  
	 Section 1.1 Definition of Terms
	  	 	2	  
	 Section 1.2 Interpretation
	  	 	7	  
		
	 ARTICLE 2. GENERAL TERMS AND CONDITIONS OF THE 2017 NOTES
	  	 	7	  
	 Section 2.1 Designation and Principal Amount
	  	 	7	  
	 Section 2.2 Maturity
	  	 	7	  
	 Section 2.3 Further Issues
	  	 	7	  
	 Section 2.4 Form of Payment
	  	 	7	  
	 Section 2.5 Global Securities and Denomination of 2017 Notes
	  	 	7	  
	 Section 2.6 Interest
	  	 	8	  
	 Section 2.7 Redemption
	  	 	8	  
	 Section 2.8 Limitations on Secured Debt
	  	 	8	  
	 Section 2.9 Limitations on Sales and Leasebacks
	  	 	9	  
	 Section 2.10 Appointment of Agents
	  	 	10	  
	 Section 2.11 Defeasance upon Deposit of Moneys or U.S. Government Obligations
	  	 	10	  
	 Section 2.12 Repurchase of 2017 Notes Upon a Change of Control
	  	 	10	  
	 Section 2.13 Guarantees
	  	 	12	  
	 Section 2.14 No Sinking Fund
	  	 	12	  
	 Section 2.15 Merger, Consolidation and Sale of Assets
	  	 	12	  
		
	 ARTICLE 3. GENERAL TERMS AND CONDITIONS OF THE 2022 NOTES
	  	 	12	  
	 Section 3.1 Designation and Principal Amount
	  	 	12	  
	 Section 3.2 Maturity
	  	 	12	  
	 Section 3.3 Further Issues
	  	 	12	  
	 Section 3.4 Form of Payment
	  	 	12	  
	 Section 3.5 Global Securities and Denomination of 2022 Notes
	  	 	13	  
	 Section 3.6 Interest
	  	 	13	  
	 Section 3.7 Redemption
	  	 	13	  
	 Section 3.8 Limitations on Secured Debt
	  	 	13	  
	 Section 3.9 Limitations on Sales and Leasebacks
	  	 	14	  
	 Section 3.10 Appointment of Agents
	  	 	15	  
	 Section 3.11 Defeasance upon Deposit of Moneys or U.S. Government Obligations
	  	 	15	  
	 Section 3.12 Repurchase of 2022 Notes Upon a Change of Control
	  	 	15	  
	 Section 3.13 Guarantees
	  	 	17	  
	 Section 3.14 No Sinking Fund
	  	 	17	  
	 Section 3.15 Merger, Consolidation and Sale of Assets
	  	 	17	  
		
	 ARTICLE 4. GENERAL TERMS AND CONDITIONS OF THE 2042 NOTES
	  	 	17	  
	 Section 4.1 Designation and Principal Amount
	  	 	17	  
	 Section 4.2 Maturity
	  	 	17	  


  
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	 Section 4.3 Further Issues
	  	 	18	  
	 Section 4.4 Form of Payment
	  	 	18	  
	 Section 4.5 Global Securities and Denomination of 2042 Notes
	  	 	18	  
	 Section 4.6 Interest
	  	 	18	  
	 Section 4.7 Redemption
	  	 	18	  
	 Section 4.8 Limitations on Secured Debt
	  	 	18	  
	 Section 4.9 Limitations on Sales and Leasebacks
	  	 	19	  
	 Section 4.10 Appointment of Agents
	  	 	20	  
	 Section 4.11 Defeasance upon Deposit of Moneys or U.S. Government Obligations
	  	 	20	  
	 Section 4.12 Repurchase of 2042 Notes Upon a Change of Control
	  	 	20	  
	 Section 4.13 Guarantees
	  	 	22	  
	 Section 4.14 No Sinking Fund
	  	 	22	  
	 Section 4.15 Merger, Consolidation and Sale of Assets
	  	 	22	  
		
	 ARTICLE 5. FORMS OF NOTES
	  	 	23	  
	 Section 5.1 Form of 2017 Notes
	  	 	23	  
	 Section 5.2 Form of 2022 Notes
	  	 	23	  
	 Section 5.3 Form of 2042 Notes
	  	 	23	  
		
	 ARTICLE 6. ORIGINAL ISSUE OF NOTES
	  	 	23	  
	 Section 6.1 Original Issue of 2017 Notes
	  	 	23	  
	 Section 6.2 Original Issue of 2022 Notes
	  	 	23	  
	 Section 6.3 Original Issue of 2042 Notes
	  	 	23	  
		
	 ARTICLE 7. MISCELLANEOUS
	  	 	23	  
	 Section 7.1 Ratification of Indenture
	  	 	23	  
	 Section 7.2 Trustee Not Responsible for Recitals
	  	 	23	  
	 Section 7.3 Governing Law
	  	 	24	  
	 Section 7.4 Separability
	  	 	24	  
	 Section 7.5 Counterparts Originals
	  	 	24	  
		
	 EXHIBIT A – Form of 2017 Notes
	  	 	A-1	  
	 EXHIBIT B – Form of 2022 Notes
	  	 	B-1	  
	 EXHIBIT C – Form of 2042 Notes
	  	 	C-1	  


  
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 FIRST SUPPLEMENTAL INDENTURE, dated as of May 3, 2012 (this “Supplemental
Indenture”), among MOLSON COORS BREWING COMPANY, a Delaware corporation (the “Company”); and MOLSON COORS INTERNATIONAL LP, a Delaware limited partnership, MOLSON COORS CAPITAL FINANCE ULC, a Nova Scotia unlimited liability company,
MOLSON COORS INTERNATIONAL GENERAL, ULC, a Nova Scotia unlimited liability company, COORS INTERNATIONAL HOLDCO, ULC, a Nova Scotia unlimited liability company, MOLSON COORS CALLCO ULC, a Nova Scotia unlimited liability company, MOLSON CANADA 2005,
an Ontario partnership, COORS BREWING COMPANY, a Colorado corporation, CBC HOLDCO LLC, a Colorado limited liability company, MC HOLDING COMPANY LLC, a Colorado limited liability company, CBC HOLDCO 2 LLC, a Colorado limited liability company,
NEWCO3, INC., a Colorado corporation, MOLSON COORS BREWING COMPANY (UK) LIMITED, an English private limited company, MOLSON COORS HOLDINGS LIMITED, an English private limited company, and GOLDEN ACQUISITION, an English private unlimited company
(collectively, the “Guarantors”); and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee (the “Trustee”). 
 WHEREAS, the Company and the Guarantors executed and delivered the indenture, dated as of May 3, 2012, to the Trustee (the “Base Indenture,” and as hereby supplemented, the
“Indenture”), to provide for the issuance of the Company’s debt Securities to be issued in one or more series and to be guaranteed by the Guarantors; 
 WHEREAS, pursuant to the terms of the Base Indenture, the Company desires to provide for the establishment of three new series of its notes under the Base Indenture to be known as its “2.000%
Senior Notes due 2017” (the “2017 Notes”), “3.500% Senior Notes due 2022” (the “2022 Notes”) and “5.000% Senior Notes due 2042” (the “2042 Notes”), the form and substance and the terms,
provisions and conditions thereof to be set forth as provided in the Base Indenture and this Supplemental Indenture; 

WHEREAS, the Guarantors will guarantee the 2017 Notes, the 2022 Notes and the 2042 Notes being issued pursuant to this
Supplemental Indenture and the terms set forth in Article XVI of the Base Indenture ; 
 WHEREAS, the Board of Directors
of the Company, pursuant to resolutions duly adopted on April 1, 2012, has duly authorized the issuance of the 2017 Notes, the 2022 Notes and the 2042 Notes, and has authorized the proper officers of the Company to execute any and all
appropriate documents necessary or appropriate to effect each such issuance; 
 WHEREAS, the Board of Directors, Board of
Managers, Managing Member or Management Committee, as applicable, of each of the Guarantors, pursuant to resolutions duly adopted on April 23, 2012 or April 25, 2012, as applicable, has duly authorized such Guarantor’s Guarantee, and
has authorized the proper officers of such Guarantor to execute any and all appropriate documents necessary or appropriate to effect such Guarantee; 
 WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions of Sections 3.1 and 14.1(p) of the Base Indenture; 







 WHEREAS, the Company has requested that the Trustee execute and deliver this
Supplemental Indenture; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the
Company and the Guarantors, in accordance with its terms, and to make the 2017 Notes, the 2022 Notes and the 2042 Notes, each when executed by the Company and authenticated and delivered by the Trustee, and the Guarantees thereon by the Guarantors,
the valid obligations of the Company and the Guarantors, as applicable, have been performed, and the execution and delivery of this Supplemental Indenture has been duly authorized in all respects; 

NOW THEREFORE, in consideration of the premises and the purchase and acceptance of each of the 2017 Notes, the 2022 Notes and the
2042 Notes by the Holders thereof, and for the purpose of setting forth, as provided in the Base Indenture, the forms and terms of each of the 2017 Notes, the 2022 Notes and the 2042 Notes, the Company and the Guarantors covenant and agree, with the
Trustee, as follows: 
 ARTICLE 1. 
 DEFINITIONS AND INTERPRETATION 
 Section 1.1 Definition of
Terms. Unless the context otherwise requires: 
 (a) each term defined in the Base Indenture has the same meaning when used
in this Supplemental Indenture; 
 (b) the singular includes the plural and vice versa; 

(c) headings are for convenience of reference only and do not affect interpretation; 

(d) a reference to a Section or Article is to a Section or Article of this Supplemental Indenture unless otherwise indicated; and

 (e) the following terms have the meanings given to them in this Section 1.1(e): 

(i) “2017 Below Investment Grade Rating Event” shall have the meaning assigned to it in Section 2.12.

 (ii) “2017 Change of Control Offer” shall have the meaning assigned to it in Section 2.12.

 (iii) “2017 Change of Control Payment” shall have the meaning assigned to it in Section 2.12.

 (iv) “2017 Change of Control Payment Date” shall have the meaning assigned to it in
Section 2.12. 
 (v) “2017 Change of Control Triggering Event” shall have the meaning assigned to
it in Section 2.12. 

  
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 (vi) “2022 Below Investment Grade Rating Event” shall have the
meaning assigned to it in Section 3.12. 
 (vii) “2022 Change of Control Offer” shall have the
meaning assigned to it in Section 3.12. 
 (viii) “2022 Change of Control Payment” shall have the
meaning assigned to it in Section 3.12. 
 (ix) “2022 Change of Control Payment Date” shall have
the meaning assigned to it in Section 3.12. 
 (x) “2022 Change of Control Triggering Event”
shall have the meaning assigned to it in Section 3.12. 
 (xi) “2042 Below Investment Grade Rating
Event” shall have the meaning assigned to it in Section 4.12. 
 (xii) “2042 Change of Control
Offer” shall have the meaning assigned to it in Section 4.12. 
 (xiii) “2042 Change of Control
Payment” shall have the meaning assigned to it in Section 4.12. 
 (xiv) “2042 Change of Control
Payment Date” shall have the meaning assigned to it in Section 4.12. 
 (xv) “2042 Change of
Control Triggering Event” shall have the meaning assigned to it in Section 4.12. 
 (xvi)
“Attributable Debt” means, as to any particular lease under which any Person is at the time liable and at any date as of which the amount of such liability is to be determined, the total net amount of rent required to be paid by such
Person under such lease during the remaining primary term thereof, discounted from the respective due dates thereof to such date at the actual percentage rate inherent in such arrangements as determined in good faith by the Company. The net amount
of rent required to be paid under any such lease for any such period shall be the aggregate amount payable by the lessee with respect to such period after excluding amounts required to be paid on account of maintenance and repairs, insurance, taxes,
assessments and similar charges. In the case of any lease which is terminable by the lessee upon the payment of a penalty, such net amount shall also include the amount of such penalty, but no rent shall be considered as required to be paid under
such lease subsequent to the first date upon which it may be terminated. 
 (xvii) “Change of Control”
means the occurrence of any of the following: (1) any “person” or “group” (other than the Permitted Parties) is or becomes (by way of merger or consolidation or otherwise) the “beneficial owner,” directly or
indirectly, of shares of Voting Stock of the Company representing 50% or more of the total voting 

  
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power of all outstanding classes of Voting Stock of the Company or has the power, directly or indirectly, to elect a majority of the members of the Company’s Board of Directors; (2) the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties and assets of the Company and its
Subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to (i) the Company or one of its Subsidiaries, or (ii) one or more Permitted Parties; (3) a
majority of the members of the Board of Directors of the Company are not Continuing Directors; or (4) the holders of the Company’s Capital Stock approve any plan or proposal for the liquidation or dissolution of the Company (whether or not
otherwise in compliance with this Indenture). For purposes of this Section 1.1(e)(xvii), (i) “person” or “group” have the meanings given to them for purposes of Sections 13(d) and 14(d) of the Exchange Act or any
successor provisions, and the term “group” includes any group acting for the purpose of acquiring, holding or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act, or any successor provision, and
(ii) a “beneficial owner” will be determined in accordance with Rule 13d-3 under the Exchange Act, as in effect on the date of this Indenture. 
 (xviii) “Consolidated Net Tangible Assets” means the consolidated total assets of the Company, including its consolidated subsidiaries, after deducting current liabilities (except for those
which are Funded Debt or the current maturities of Funded Debt) and goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other intangible assets. Deferred income taxes, deferred investment tax credit or other similar
items, as calculated in accordance with GAAP, will not be considered as a liability or as a deduction from or adjustment to total assets. 
 (xix) “Continuing Directors” means, as of any date of determination, any member of the Company’s Board of Directors who (i) was a member of such Board of Directors on the date of this
Supplemental Indenture; or (ii) was nominated for election by the nominating committee or a nominating subcommittee in accordance with the Company’s restated certificate of incorporation or was elected to such Board of Directors with the
approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 
 (xx) “Coors Family Group” means: 
 (1) individuals who
are descendents of the late Adolph Coors, including adopted issue and issue born out of wedlock of any such individuals, as well as spouses and former spouses (including widows and widowers), whether or not lawfully married, of any of such
individuals and spouses, former spouses (including widows and widowers) and descendents of such spouses or former spouses (including widows and widowers) (the “Coors Family Members”); 

(2) estates of any Coors Family Members; 

(3) trusts for which the principal beneficiaries are one or more of the Coors Family Members; 

  
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 (4) any corporation, limited liability company, or partnership or similar
entity directly or indirectly under the control of one or more of the foregoing; 
 (5) any corporation, limited
liability company, or partnership or similar entity controlled by one of the foregoing; 
 (6) any corporation
or trust with a charitable, scientific, religious or educational purpose described in Section 501(c)(3) of the Internal Revenue Code, with respect to which the Coors Family Members comprise not less than 40% of the directors, trustees or
persons carrying out a similar function, as applicable; and 
 (7) any foundation or charitable organization,
not less than 40% of the trustees, governors or persons carrying out a similar function of which are Coors Family Members. 
 (xxi) “Coors Family Group Beneficiaries” means the Adolph Coors, Jr. Trust dated September 12, 1969 and members of the Coors Family Group. 

(xxii) “DTC” means The Depository Trust Company. 

(xxiii) “Funded Debt” of any Person means (a) all Debt of such Person having a maturity of more than 12
months from the date as of which the determination is made or having a maturity of 12 months or less but by its terms being renewable or extendable beyond 12 months from such date at the option of such Person, or (b) rental obligations of such
Person payable more than 12 months from such date under leases which are capitalized in accordance with GAAP (such rental obligations to be included as Funded Debt at the amount so capitalized). 

(xxiv) “Interest Payment Date” means May 1 and November 1 of each year. 

(xxv) “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s
and BBB– (or the equivalent) by S&P. 
 (xxvi) “Issue Date” means May 3, 2012.

 (xxvii) “Molson Family Group” means: 

(1) individuals who are descendents of the late Thomas H.P. Molson of Montreal, who passed away on or about April 4,
1978, including adopted issue and issue born out of wedlock of any such individuals, as well as spouses and former spouses (including widows and widowers), whether or not lawfully married, of any of such individuals and spouses, former spouses
(including widows and widowers) and descendents of such spouses or former spouses (including widows and widowers) (the “Molson Family Members”); 
 (2) estates of Thomas Molson and any Molson Family Members; 

  
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 (3) trusts for which the principal beneficiaries are one or more of the
Molson Family Members; 
 (4) any corporation, limited liability company, or partnership or similar entity
directly or indirectly under the control of one or more of the foregoing; 
 (5) any corporation, limited
liability company, or partnership or similar entity controlled by one of the foregoing; 
 (6) any corporation
with charitable, scientific, religious or educational objects or any trust the beneficiaries of which are charities, with respect to which the Molson Family Members comprise not less than 40% of the directors, trustees or persons carrying out a
similar function, as applicable; and 
 (7) any foundation or charitable organization, not less than 40% of the
trustees, governors or persons carrying out a similar function of which are Molson Family Members, including, without limitation, The Molson Foundation and The Molson Companies Donation Fund. 

(xxviii) “Molson Family Group Beneficiaries” means Pentland Securities (1981) Inc. and members of the
Molson Family Group. 
 (xxix) “Moody’s” means Moody’s Investors Service, Inc., and its
successors. 
 (xxx) “Mortgage” means a mortgage, pledge or lien. 

(xxxi) “Notes” means the 2017 Notes, the 2022 Notes and the 2042 Notes. 

(xxxii) “Permitted Party” means any of the Coors Family Group Beneficiaries or the Molson Family Group
Beneficiaries. 
 (xxxiii) “Principal Property” means any brewery, manufacturing, processing or
packaging plant or warehouse owned at the date of this Supplemental Indenture or thereafter acquired by the Company or any Restricted Subsidiary which is located within the United States of America or Canada, other than any property which, in the
opinion of the Board of Directors of the Company, is not of material importance to the total business conducted by the Company and the Restricted Subsidiaries as an entirety. 

(xxxiv) “Rating Agencies” means, in respect of any series of Notes, (1) each of Moody’s and S&P;
and (2) if either of Moody’s or S&P ceases to rate the Notes of such series or fails to make a rating of the Notes of such series publicly available for reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Board of Directors of the Company) as a replacement agency for Moody’s or
S&P, or both, as the case may be. 
 (xxxv) “Record Date” means April 15 and October 15
of each year. 

  
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 (xxxvi) “Restricted Subsidiary” means a Subsidiary of the Company
(a) substantially all the property of which is located, or substantially all the business of which is carried on, within the United States or Canada, and (b) which owns a Principal Property. 

(xxxvii) “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc., and its successors. 
 Section 1.2 Interpretation. This First Supplemental Indenture is supplemental to
the Base Indenture, and this First Supplemental Indenture and the Base Indenture shall hereafter be read together with respect to the Notes. If any term or provision contained in this First Supplemental Indenture shall conflict or be inconsistent
with any term or provision of the Base Indenture, the terms and provisions of this First Supplemental Indenture shall govern; provided, however, that the terms and provisions of this First Supplemental Indenture modify or amend the terms of the Base
Indenture only with respect to the Notes. 
 ARTICLE 2. 

GENERAL TERMS AND CONDITIONS OF THE 2017 NOTES 
 Section 2.1 Designation and Principal Amount. There is hereby authorized and established a new series of Securities under the Base Indenture designated as the “2.000% Senior Notes due
2017,” which is not limited in aggregate principal amount. The initial aggregate principal amount of the 2017 Notes to be issued under this Supplemental Indenture shall be $300,000,000. The 2017 Notes are not Original Issue Discount Securities
and were originally issued at a public offering price of 99.717%. Any additional amounts of 2017 Notes to be issued shall be set forth in a Company Order. 
 Section 2.2 Maturity. The stated maturity of principal for the 2017 Notes shall be May 1, 2017. 
 Section 2.3 Further Issues. The Company may, from time to time, without the consent of the Holders of the 2017 Notes, issue additional 2017 Notes. Any such additional 2017 Notes shall have the same
ranking, interest rate, maturity date and other terms and conditions as the 2017 Notes issued on the Issue Date, except for the issue date and the issue price. Any such additional 2017 Notes, together with the 2017 Notes herein provided for, shall
constitute a single series of Securities under the Indenture. 
 Section 2.4 Form of Payment. Principal of, premium, if
any, and interest on the 2017 Notes shall be payable in U.S. dollars. 
 Section 2.5 Global Securities and Denomination of
2017 Notes. Upon the original issuance, the 2017 Notes shall be represented by one or more Global Securities. The Company shall issue the 2017 Notes in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof and
shall deposit the Global Securities with, or on behalf of, DTC as Depositary (pursuant to Section 3.1 of the Base Indenture) in New York, New York, and register the Global Securities in the name of Cede & Co., DTC’s nominee.


  
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 Section 2.6 Interest. The Company shall pay interest on the 2017 Notes at the rate of
2.000% per annum, payable semiannually in arrears on each Interest Payment Date or, if any such Interest Payment Date is not a Business Day, on the next succeeding Business Day, commencing on November 1, 2012. Interest on the 2017 Notes
shall be paid to each Holder of the 2017 Notes at the close of business on the Record Date next preceding the related Interest Payment Date (except that interest payable at maturity shall be paid to the same persons to whom principal of such 2017
Notes is payable) and shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Interest on the 2017 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the
Issue Date. Payments of the principal of and interest on the 2017 Notes shall be made in U.S. Dollars, and the 2017 Notes shall be denominated in U.S. Dollars. 
 Section 2.7 Redemption. The 2017 Notes are subject to redemption at the option of the Company and to a special mandatory redemption, in each case as set forth in the form of 2017 Note attached
hereto as Exhibit A and Article IV of the Base Indenture. 
 Section 2.8 Limitations on Secured Debt.

 (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a
Mortgage on any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2017 Notes equally and ratably with
(or prior to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding Debt secured by Mortgages, when taken together with all Attributable Debt with respect to sale and leaseback transactions
involving Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 2.8(b) and Section 2.9(b)), would not, at the time of such incurrence, issuance, assumption or
guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding
sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates. 

(b) The restriction in Section 2.8(a) shall not apply to Debt secured by: 

(i) Mortgages existing on any property prior to the acquisition thereof by the Company or a Restricted Subsidiary or
existing on any property of any corporation that becomes a Subsidiary after the date of this Supplemental Indenture prior to the time such corporation becomes a Subsidiary or securing indebtedness that is used to pay the cost of acquisition of such
property or to reimburse the Company or a Restricted Subsidiary for that cost; provided, however, that such Mortgage shall not apply to any other property of the Company or a Restricted Subsidiary other than improvements and accessions to the
property to which it originally applies; 
 (ii) Mortgages to secure the cost of development or construction of
such property, or improvements of such property; provided, however, that such Mortgages shall not apply to any other property of the Company or any Restricted Subsidiary; 

  
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 (iii) Mortgages in favor of a governmental entity or in favor of the holders
of securities issued by any such entity, pursuant to any contract or statute (including Mortgages to secure Debt of the pollution control or industrial revenue bond type) or to secure any indebtedness incurred for the purpose of financing all or any
part of the purchase price or the cost of construction of the property subject to such Mortgages; 
 (iv)
Mortgages securing indebtedness owing to the Company or a Guarantor; 
 (v) Mortgages existing on the Issue
Date; 
 (vi) Mortgages required in connection with governmental programs which provide financial or tax
benefits, as long as substantially all of the obligations secured are in lieu of or reduce an obligation that would have been secured by a lien permitted under this Indenture; 

(vii) extensions, renewals or replacements of the Mortgages referred to in this Section 2.8(b) (other than Mortgages
described in clauses (ii) and (iv) above) so long as the principal amount of the secured Debt is not increased and the extension, renewal or replacement is limited to all or part of the same property secured by the Mortgage so extended,
renewed or replaced; or 
 (viii) Mortgages in connection with sale and leaseback transactions permitted by
Section 2.9(b). 
 Section 2.9 Limitations on Sales and Leasebacks. 

(a) Neither the Company nor any Restricted Subsidiary shall enter into any sale and leaseback transaction involving any Principal
Property, unless the aggregate amount of all Attributable Debt with respect to such transactions, when taken together with all secured Debt permitted under Section 2.8(a) (and not excluded in Section 2.8(b)) would not, at the time such
transaction is entered into, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. 
 (b) The restriction in Section 2.9(a) shall not apply to, and there shall be excluded from Attributable Debt in any computation under Section 2.9(a), any sale and leaseback transaction if:

 (i) the transaction is between or among two or more of the Company and the Guarantors; 

(ii) the lease is for a period, including renewal rights, of not in excess of three years; 

(iii) the transaction is with a governmental authority that provides financial or tax benefits; 

(iv) the net proceeds of the sale are at least equal to the fair market value of the property and, within 180 days of the
transfer, the Company or the Guarantors repay Funded Debt owed by them or make expenditures for the expansion, construction or acquisition of a Principal Property at least equal to the net proceeds of the sale; or 

  
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 (v) such sale and leaseback transaction is entered into within 180 days
after the acquisition or construction, in whole but not in part, of such Principal Property. 
 Section 2.10 Appointment of
Agents. The Trustee shall initially be the Registrar and Paying Agent for the 2017 Notes. 
 Section 2.11 Defeasance upon
Deposit of Moneys or U.S. Government Obligations. At the Company’s option, either (a) the Company shall be deemed to have been Discharged from its obligations with respect to the 2017 Notes on the first day after the applicable
conditions set forth in Section 12.3 of the Base Indenture have been satisfied or (b) the Company and the Guarantors shall cease to be under any obligation to comply with any term, provision or condition set forth in Section 6.4 or
Section 10.2 of the Base Indenture and Sections 2.8 and 2.9 of this Supplemental Indenture with respect to the 2017 Notes at any time after the applicable conditions set forth in Section 12.3 of the Base Indenture have been satisfied.
The applicable provisions of Article XII of the Base Indenture shall apply to the exercise by the Company of either such option. 
 Section 2.12 Repurchase of 2017 Notes Upon a Change of Control. 
 (a) Upon
the occurrence of a 2017 Change of Control Triggering Event, unless the Company has exercised its right to redeem the 2017 Notes as provided in the form of 2017 Note attached hereto as Exhibit A and Article IV of the Base Indenture, each
Holder of 2017 Notes shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s 2017 Notes pursuant to the offer described in this
Section 2.12 (the “2017 Change of Control Offer”) on the terms set forth in this Section 2.12 at a repurchase price in cash equal to 101% of the aggregate principal amount of 2017 Notes repurchased, plus accrued and unpaid
interest, if any, on the 2017 Notes repurchased to, but not including, the date of repurchase (the “2017 Change of Control Payment”). 
 (b) Within 30 days following any 2017 Change of Control Triggering Event, or, at the Company’s option, prior to the date of consummation of any Change of Control, but after the public
announcement of the pending Change of Control, the Company shall mail or cause to be mailed a notice to each Holder of 2017 Notes, with a copy to the Trustee, describing the transaction or transactions that constitute the Change of Control and
offering to repurchase the 2017 Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “2017 Change of Control Payment Date”),
pursuant to the procedures required by Article IV of the Base Indenture, which shall apply hereto mutatis mutandis, and described in such notice. The repurchase obligation with respect to any notice mailed prior to the consummation of the Change of
Control shall be conditioned on the 2017 Change of Control Triggering Event occurring on or prior to the payment date specified in the notice. 
 (c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws


  
 10 









 
and regulations are applicable in connection with the repurchase of the 2017 Notes as a result of a 2017 Change of Control Triggering Event. To the extent that the provisions of any securities
laws or regulations conflict with this Section 2.12, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 2.12 by virtue of such conflicts.

 (d) On the 2017 Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for payment all 2017
Notes or portions thereof properly tendered pursuant to the 2017 Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the 2017 Change of Control Payment in respect of all 2017 Notes or portions thereof properly
tendered and not validly withdrawn and (iii) deliver or cause to be delivered to the Trustee the 2017 Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of 2017 Notes or portions thereof
being repurchased by the Company. The Paying Agent shall promptly mail to each Holder of 2017 Notes properly tendered and not validly withdrawn the 2017 Change of Control Payment for such 2017 Notes, and the Trustee shall promptly authenticate and
mail (or cause to be transferred by book-entry) to each Holder a new 2017 Note equal in principal amount to any unpurchased portion of the 2017 Notes surrendered by such Holder; provided that each new 2017 Note will be in a principal amount of
$2,000 or an integral multiple of $1,000 in excess thereof. 
 (e) The Company shall not be required to make a 2017 Change of
Control Offer upon a 2017 Change of Control Triggering Event if another Person makes the 2017 Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 2.12 otherwise
applicable to a 2017 Change of Control Offer made by the Company and such other Person purchases all 2017 Notes properly tendered and not withdrawn pursuant to such 2017 Change of Control Offer. 

(f) Solely for purposes of this Section 2.12 in connection with the 2017 Notes, the following terms shall have the following
meanings: 
 “2017 Below Investment Grade Rating Event” means the 2017 Notes are rated below an Investment Grade
Rating by each of the Rating Agencies on any date from the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control, in each case until the end of the 60-day
period following the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control; provided, however, that if during such 60-day period one or more Rating Agencies
has publicly announced that it is considering a possible downgrade of the 2017 Notes, then such 60-day period shall be extended for such time as the rating of the 2017 Notes by any such Rating Agency remains under publicly announced consideration
for possible downgrade. Notwithstanding the foregoing, a 2017 Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect of a particular Change of Control (and
thus will not be deemed a 2017 Below Investment Grade Rating Event for purposes of the definition of 2017 Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not
announce or publicly confirm or inform the Trustee in writing at the Company’s or the Trustee’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in
respect of, the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the 2017 Below Investment Grade Rating Event). 

  
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 “2017 Change of Control Triggering Event” means the occurrence of both a Change of
Control and a 2017 Below Investment Grade Rating Event. 
 Section 2.13 Guarantees. The 2017 Notes shall be guaranteed by
the following Subsidiaries (which are hereby designated “Guarantors” under the Indenture with respect to the 2017 Notes): Molson Coors International LP, Molson Coors Capital Finance ULC, Molson Coors International General, ULC, Coors
International Holdco, ULC, Molson Coors Callco ULC, Molson Canada 2005, Coors Brewing Company, CBC Holdco LLC, MC Holding Company LLC, CBC Holdco 2 LLC, Newco3, Inc., Molson Coors Brewing Company (UK) Limited, Molson Coors Holdings Limited, Golden
Acquisition, and each of the Company’s future Subsidiaries in accordance with Section 6.8 of the Base Indenture, until, in each case, such entity is released as a Guarantor in accordance with Section 16.7 of the Base Indenture. Each
of the Guarantors hereby confirms its Guarantee of the 2017 Notes and confirms the applicability of the provisions of the Base Indenture to such Guarantor with respect to the 2017 Notes. 

Section 2.14 No Sinking Fund. The 2017 Notes are not entitled to the benefit of any sinking fund. 

Section 2.15 Merger, Consolidation and Sale of Assets. The terms and conditions of Section 6.4 of the Base Indenture shall
apply to the 2017 Notes. 
 ARTICLE 3. 
 GENERAL TERMS AND CONDITIONS OF THE 2022 NOTES 
 Section 3.1
Designation and Principal Amount. There is hereby authorized and established a new series of Securities under the Base Indenture designated as the “3.500% Senior Notes due 2022,” which is not limited in aggregate principal amount.
The initial aggregate principal amount of the 2022 Notes to be issued under this Supplemental Indenture shall be $500,000,000. The 2022 Notes are not Original Issue Discount Securities and were originally issued at a public offering price of
99.649%. Any additional amounts of 2022 Notes to be issued shall be set forth in a Company Order. 
 Section 3.2
Maturity. The stated maturity of principal for the 2022 Notes shall be May 1, 2022. 
 Section 3.3 Further
Issues. The Company may, from time to time, without the consent of the Holders of the 2022 Notes, issue additional 2022 Notes. Any such additional 2022 Notes shall have the same ranking, interest rate, maturity date and other terms and
conditions as the 2022 Notes issued on the Issue Date, except for the issue date and the issue price. Any such additional 2022 Notes, together with the 2022 Notes herein provided for, shall constitute a single series of Securities under the
Indenture. 
 Section 3.4 Form of Payment. Principal of, premium, if any, and interest on the 2022 Notes shall be payable
in U.S. dollars. 

  
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 Section 3.5 Global Securities and Denomination of 2022 Notes. Upon the original
issuance, the 2022 Notes shall be represented by one or more Global Securities. The Company shall issue the 2022 Notes in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof and shall deposit the Global Securities
with, or on behalf of, DTC as Depositary (pursuant to Section 3.1 of the Base Indenture) in New York, New York, and register the Global Securities in the name of Cede & Co., DTC’s nominee. 

Section 3.6 Interest. The Company shall pay interest on the 2022 Notes at the rate of 3.500% per annum, payable semiannually
in arrears on each Interest Payment Date or, if any such Interest Payment Date is not a Business Day, on the next succeeding Business Day, commencing on November 1, 2012. Interest on the 2022 Notes shall be paid to each Holder of the 2022 Notes
at the close of business on the Record Date next preceding the related Interest Payment Date (except that interest payable at maturity shall be paid to the same persons to whom principal of such 2022 Notes is payable) and shall be computed on the
basis of a 360-day year consisting of twelve 30-day months. Interest on the 2022 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Issue Date. Payments of the principal of and
interest on the 2022 Notes shall be made in U.S. Dollars, and the 2022 Notes shall be denominated in U.S. Dollars. 
 Section
3.7 Redemption. The 2022 Notes are subject to redemption at the option of the Company and to a special mandatory redemption, in each case as set forth in the form of 2022 Note attached hereto as Exhibit B and Article IV of the
Base Indenture. 
 Section 3.8 Limitations on Secured Debt. 

(a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on
any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2022 Notes equally and ratably with (or prior
to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding Debt secured by Mortgages, when taken together with all Attributable Debt with respect to sale and leaseback transactions involving
Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 3.8(b) and Section 3.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee,
exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall
provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates. 
 (b) The restriction in Section 3.8(a) shall not apply to Debt secured by: 
 (i) Mortgages existing on any property prior to the acquisition thereof by the Company or a Restricted Subsidiary or existing on any property of any corporation that becomes a Subsidiary after the date of
this Supplemental Indenture prior to the time such corporation becomes a Subsidiary or securing indebtedness that is used to pay the cost of acquisition of such property or to reimburse the Company or a Restricted Subsidiary for


  
 13 









 
that cost; provided, however, that such Mortgage shall not apply to any other property of the Company or a Restricted Subsidiary other than improvements and accessions to the property to which it
originally applies; 
 (ii) Mortgages to secure the cost of development or construction of such property, or
improvements of such property; provided, however, that such Mortgages shall not apply to any other property of the Company or any Restricted Subsidiary; 
 (iii) Mortgages in favor of a governmental entity or in favor of the holders of securities issued by any such entity, pursuant to any contract or statute (including Mortgages to secure Debt of the
pollution control or industrial revenue bond type) or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of construction of the property subject to such Mortgages; 

(iv) Mortgages securing indebtedness owing to the Company or a Guarantor; 

(v) Mortgages existing on the Issue Date; 

(vi) Mortgages required in connection with governmental programs which provide financial or tax benefits, as long as
substantially all of the obligations secured are in lieu of or reduce an obligation that would have been secured by a lien permitted under this Indenture; 
 (vii) extensions, renewals or replacements of the Mortgages referred to in this Section 3.8(b) (other than Mortgages described in clauses (ii) and (iv) above) so long as the principal
amount of the secured Debt is not increased and the extension, renewal or replacement is limited to all or part of the same property secured by the Mortgage so extended, renewed or replaced; or 

(viii) Mortgages in connection with sale and leaseback transactions permitted by Section 3.9(b). 

Section 3.9 Limitations on Sales and Leasebacks. 
 (a) Neither the Company nor any Restricted Subsidiary shall enter into any sale and leaseback transaction involving any Principal Property, unless the aggregate amount of all Attributable Debt with
respect to such transactions, when taken together with all secured Debt permitted under Section 3.8(a) (and not excluded in Section 3.8(b)) would not, at the time such transaction is entered into, exceed 15% of Consolidated Net Tangible
Assets, as determined based on the most recent available consolidated balance sheet of the Company. 
 (b) The restriction in
Section 3.9(a) shall not apply to, and there shall be excluded from Attributable Debt in any computation under Section 3.9(a), any sale and leaseback transaction if: 

(i) the transaction is between or among two or more of the Company and the Guarantors; 

  
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 (ii) the lease is for a period, including renewal rights, of not in excess
of three years; 
 (iii) the transaction is with a governmental authority that provides financial or tax
benefits; 
 (iv) the net proceeds of the sale are at least equal to the fair market value of the property and,
within 180 days of the transfer, the Company or the Guarantors repay Funded Debt owed by them or make expenditures for the expansion, construction or acquisition of a Principal Property at least equal to the net proceeds of the sale; or 

(v) such sale and leaseback transaction is entered into within 180 days after the acquisition or construction, in whole
but not in part, of such Principal Property. 
 Section 3.10 Appointment of Agents. The Trustee shall initially be the
Registrar and Paying Agent for the 2022 Notes. 
 Section 3.11 Defeasance upon Deposit of Moneys or U.S. Government
Obligations. At the Company’s option, either (a) the Company shall be deemed to have been Discharged from its obligations with respect to the 2022 Notes on the first day after the applicable conditions set forth in Section 12.3 of
the Base Indenture have been satisfied or (b) the Company and the Guarantors shall cease to be under any obligation to comply with any term, provision or condition set forth in Section 6.4 or Section 10.2 of the Base Indenture and
Sections 3.8 and 3.9 of this Supplemental Indenture with respect to the 2022 Notes at any time after the applicable conditions set forth in Section 12.3 of the Base Indenture have been satisfied. The applicable provisions of Article XII of
the Base Indenture shall apply to the exercise by the Company of either such option. 
 Section 3.12 Repurchase of 2022 Notes
Upon a Change of Control. 
 (a) Upon the occurrence of a 2022 Change of Control Triggering Event, unless the Company has
exercised its right to redeem the 2022 Notes as provided in the form of 2022 Note attached hereto as Exhibit B and Article IV of the Base Indenture, each Holder of 2022 Notes shall have the right to require the Company to repurchase all
or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s 2022 Notes pursuant to the offer described in this Section 3.12 (the “2022 Change of Control Offer”) on the terms set forth in
this Section 3.12 at a repurchase price in cash equal to 101% of the aggregate principal amount of 2022 Notes repurchased, plus accrued and unpaid interest, if any, on the 2022 Notes repurchased to, but not including, the date of repurchase
(the “2022 Change of Control Payment”). 
 (b) Within 30 days following any 2022 Change of Control Triggering
Event, or, at the Company’s option, prior to the date of consummation of any Change of Control, but after the public announcement of the pending Change of Control, the Company shall mail or cause to be mailed a notice to each Holder of 2022
Notes, with a copy to the Trustee, describing the transaction or transactions that constitute the Change of Control and offering to repurchase the 2022 Notes on the date specified in the notice, which date shall be no earlier than 30 days and
no later than 60 days from the date such notice is mailed (the “2022 Change of Control Payment Date”), pursuant to the procedures required by Article IV of the Base Indenture, which shall


  
 15 









 
apply hereto mutatis mutandis, and described in such notice. The repurchase obligation with respect to any notice mailed prior to the consummation of the Change of Control shall be conditioned on
the 2022 Change of Control Triggering Event occurring on or prior to the payment date specified in the notice. 
 (c) The
Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the 2022 Notes
as a result of a 2022 Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with this Section 3.12, the Company shall comply with the applicable securities laws and regulations and
shall not be deemed to have breached its obligations under this Section 3.12 by virtue of such conflicts. 
 (d) On the
2022 Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for payment all 2022 Notes or portions thereof properly tendered pursuant to the 2022 Change of Control Offer, (ii) deposit with the Paying Agent an
amount equal to the 2022 Change of Control Payment in respect of all 2022 Notes or portions thereof properly tendered and not validly withdrawn and (iii) deliver or cause to be delivered to the Trustee the 2022 Notes properly accepted together
with an Officer’s Certificate stating the aggregate principal amount of 2022 Notes or portions thereof being repurchased by the Company. The Paying Agent shall promptly mail to each Holder of 2022 Notes properly tendered and not validly
withdrawn the 2022 Change of Control Payment for such 2022 Notes, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new 2022 Note equal in principal amount to any unpurchased portion of
the 2022 Notes surrendered by such Holder; provided that each new 2022 Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 (e) The Company shall not be required to make a 2022 Change of Control Offer upon a 2022 Change of Control Triggering Event if another Person makes the 2022 Change of Control Offer in the manner, at the
times and otherwise in compliance with the requirements set forth in this Section 3.12 otherwise applicable to a 2022 Change of Control Offer made by the Company and such other Person purchases all 2022 Notes properly tendered and not withdrawn
pursuant to such 2022 Change of Control Offer. 
 (f) Solely for purposes of this Section 3.12 in connection with the 2022
Notes, the following terms shall have the following meanings: 
 “2022 Below Investment Grade Rating Event” means the
2022 Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any date from the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of
Control, in each case until the end of the 60-day period following the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control; provided, however, that if
during such 60-day period one or more Rating Agencies has publicly announced that it is considering a possible downgrade of the 2022 Notes, then such 60-day period shall be extended for such time as the rating of the 2022 Notes by any such Rating
Agency remains under publicly announced consideration for possible downgrade. Notwithstanding the foregoing, a 2022 Below Investment Grade Rating Event otherwise arising 

  
 16 









 
by virtue of a particular reduction in rating will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a 2022 Below Investment Grade Rating
Event for purposes of the definition of 2022 Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in
writing at the Company’s or the Trustee’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or
not the applicable Change of Control has occurred at the time of the 2022 Below Investment Grade Rating Event). 
 “2022
Change of Control Triggering Event” means the occurrence of both a Change of Control and a 2022 Below Investment Grade Rating Event. 
 Section 3.13 Guarantees. The 2022 Notes shall be guaranteed by the following Subsidiaries (which are hereby designated “Guarantors” under the Indenture with respect to the 2022 Notes):
Molson Coors International LP, Molson Coors Capital Finance ULC, Molson Coors International General, ULC, Coors International Holdco, ULC, Molson Coors Callco ULC, Molson Canada 2005, Coors Brewing Company, CBC Holdco LLC, MC Holding Company LLC,
CBC Holdco 2 LLC, Newco3, Inc., Molson Coors Brewing Company (UK) Limited, Molson Coors Holdings Limited, Golden Acquisition, and each of the Company’s future Subsidiaries in accordance with Section 6.8 of the Base Indenture, until, in
each case, such entity is released as a Guarantor in accordance with Section 16.7 of the Base Indenture. Each of the Guarantors hereby confirms its Guarantee of the 2022 Notes and confirms the applicability of the provisions of the Base
Indenture to such Guarantor with respect to the 2022 Notes. 
 Section 3.14 No Sinking Fund. The 2022 Notes are not
entitled to the benefit of any sinking fund. 
 Section 3.15 Merger, Consolidation and Sale of Assets. The terms and
conditions of Section 6.4 of the Base Indenture shall apply to the 2022 Notes. 
 ARTICLE 4. 

GENERAL TERMS AND CONDITIONS OF THE 2042 NOTES 
 Section 4.1 Designation and Principal Amount. There is hereby authorized and established a new series of Securities under the Base Indenture designated as the “5.000% Senior Notes due
2042,” which is not limited in aggregate principal amount. The initial aggregate principal amount of the 2042 Notes to be issued under this Supplemental Indenture shall be $1,100,000,000. The 2042 Notes are not Original Issue Discount
Securities and were originally issued at a public offering price of 99.815%. Any additional amounts of 2042 Notes to be issued shall be set forth in a Company Order. 
 Section 4.2 Maturity. The stated maturity of principal for the 2042 Notes shall be May 1, 2042. 

  
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 Section 4.3 Further Issues. The Company may, from time to time, without the consent
of the Holders of the 2042 Notes, issue additional 2042 Notes. Any such additional 2042 Notes shall have the same ranking, interest rate, maturity date and other terms and conditions as the 2042 Notes issued on the Issue Date, except for the issue
date and the issue price. Any such additional 2042 Notes, together with the 2042 Notes herein provided for, shall constitute a single series of Securities under the Indenture. 
 Section 4.4 Form of Payment. Principal of, premium, if any, and interest on the 2042 Notes shall be payable in U.S. dollars. 

Section 4.5 Global Securities and Denomination of 2042 Notes. Upon the original issuance, the 2042 Notes shall be represented by
one or more Global Securities. The Company shall issue the 2042 Notes in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof and shall deposit the Global Securities with, or on behalf of, DTC as Depositary (pursuant
to Section 3.1 of the Base Indenture) in New York, New York, and register the Global Securities in the name of Cede & Co., DTC’s nominee. 
 Section 4.6 Interest. The Company shall pay interest on the 2042 Notes at the rate of 5.000% per annum, payable semiannually in arrears on each Interest Payment Date or, if any such Interest
Payment Date is not a Business Day, on the next succeeding Business Day, commencing on November 1, 2012. Interest on the 2042 Notes shall be paid to each Holder of the 2042 Notes at the close of business on the Record Date next preceding the
related Interest Payment Date (except that interest payable at maturity shall be paid to the same persons to whom principal of such 2042 Notes is payable) and shall be computed on the basis of a 360-day year consisting of twelve 30-day months.
Interest on the 2042 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Issue Date. Payments of the principal of and interest on the 2042 Notes shall be made in U.S. Dollars, and
the 2042 Notes shall be denominated in U.S. Dollars. 
 Section 4.7 Redemption. The 2042 Notes are subject to redemption
at the option of the Company and to a special mandatory redemption, in each case as set forth in the form of 2042 Note attached hereto as Exhibit C and Article IV of the Base Indenture. 

Section 4.8 Limitations on Secured Debt. 
 (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on any Principal Property of the Company or any Subsidiary, or on any
Capital Stock of any Restricted Subsidiary, the Company shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2042 Notes equally and ratably with (or prior to) such secured Debt for as long as such Debt is so secured, unless
the aggregate amount of all outstanding Debt secured by Mortgages, when taken together with all Attributable Debt with respect to sale and leaseback transactions involving Principal Properties of the Company or any Subsidiary (with the exception of
such transactions which are excluded pursuant to Section 4.8(b) and Section 4.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the
most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and
unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates. 

  
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 (b) The restriction in Section 4.8(a) shall not apply to Debt secured by: 

(i) Mortgages existing on any property prior to the acquisition thereof by the Company or a Restricted Subsidiary or
existing on any property of any corporation that becomes a Subsidiary after the date of this Supplemental Indenture prior to the time such corporation becomes a Subsidiary or securing indebtedness that is used to pay the cost of acquisition of such
property or to reimburse the Company or a Restricted Subsidiary for that cost; provided, however, that such Mortgage shall not apply to any other property of the Company or a Restricted Subsidiary other than improvements and accessions to the
property to which it originally applies; 
 (ii) Mortgages to secure the cost of development or construction of
such property, or improvements of such property; provided, however, that such Mortgages shall not apply to any other property of the Company or any Restricted Subsidiary; 

(iii) Mortgages in favor of a governmental entity or in favor of the holders of securities issued by any such entity,
pursuant to any contract or statute (including Mortgages to secure Debt of the pollution control or industrial revenue bond type) or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost
of construction of the property subject to such Mortgages; 
 (iv) Mortgages securing indebtedness owing to the
Company or a Guarantor; 
 (v) Mortgages existing on the Issue Date; 

(vi) Mortgages required in connection with governmental programs which provide financial or tax benefits, as long as
substantially all of the obligations secured are in lieu of or reduce an obligation that would have been secured by a lien permitted under this Indenture; 
 (vii) extensions, renewals or replacements of the Mortgages referred to in this Section 4.8(b) (other than Mortgages described in clauses (ii) and (iv) above) so long as the principal
amount of the secured Debt is not increased and the extension, renewal or replacement is limited to all or part of the same property secured by the Mortgage so extended, renewed or replaced; or 

(viii) Mortgages in connection with sale and leaseback transactions permitted by Section 4.9(b). 

Section 4.9 Limitations on Sales and Leasebacks. 
 (a) Neither the Company nor any Restricted Subsidiary shall enter into any sale and leaseback transaction involving any Principal Property, unless the aggregate amount of all Attributable Debt with
respect to such transactions, when taken together with all secured Debt permitted under Section 4.8(a) (and not excluded in Section 4.8(b)) would not, at the time such transaction is entered into, exceed 15% of Consolidated Net Tangible
Assets, as determined based on the most recent available consolidated balance sheet of the Company. 

  
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 (b) The restriction in Section 4.9(a) shall not apply to, and there shall be excluded
from Attributable Debt in any computation under Section 4.9(a), any sale and leaseback transaction if: 

(i) the transaction is between or among two or more of the Company and the Guarantors; 

(ii) the lease is for a period, including renewal rights, of not in excess of three years; 

(iii) the transaction is with a governmental authority that provides financial or tax benefits; 

(iv) the net proceeds of the sale are at least equal to the fair market value of the property and, within 180 days of the
transfer, the Company or the Guarantors repay Funded Debt owed by them or make expenditures for the expansion, construction or acquisition of a Principal Property at least equal to the net proceeds of the sale; or 

(v) such sale and leaseback transaction is entered into within 180 days after the acquisition or construction, in whole
but not in part, of such Principal Property. 
 Section 4.10 Appointment of Agents. The Trustee shall initially be the
Registrar and Paying Agent for the 2042 Notes. 
 Section 4.11 Defeasance upon Deposit of Moneys or U.S. Government
Obligations. At the Company’s option, either (a) the Company shall be deemed to have been Discharged from its obligations with respect to the 2042 Notes on the first day after the applicable conditions set forth in Section 12.3 of
the Base Indenture have been satisfied or (b) the Company and the Guarantors shall cease to be under any obligation to comply with any term, provision or condition set forth in Section 6.4 or Section 10.2 of the Base Indenture and
Sections 4.8 and 4.9 of this Supplemental Indenture with respect to the 2042 Notes at any time after the applicable conditions set forth in Section 12.3 of the Base Indenture have been satisfied. The applicable provisions of Article XII of
the Base Indenture shall apply to the exercise by the Company of either such option. 
 Section 4.12 Repurchase of 2042 Notes
Upon a Change of Control. 
 (a) Upon the occurrence of a 2042 Change of Control Triggering Event, unless the Company has
exercised its right to redeem the 2042 Notes as provided in the form of 2042 Note attached hereto as Exhibit C and Article IV of the Base Indenture, each Holder of 2042 Notes shall have the right to require the Company to repurchase all
or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s 2042 Notes pursuant to the offer described in this Section 4.12 (the “2042 Change of Control Offer”) on the terms set forth in
this Section 4.12 at a repurchase price in cash equal to 101% of the aggregate principal amount of 2042 Notes repurchased, plus accrued and unpaid interest, if any, on the 2042 Notes repurchased to, but not including, the date of repurchase
(the “2042 Change of Control Payment”). 

  
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 (b) Within 30 days following any 2042 Change of Control Triggering Event, or, at the
Company’s option, prior to the date of consummation of any Change of Control, but after the public announcement of the pending Change of Control, the Company shall mail or cause to be mailed a notice to each Holder of 2042 Notes, with a copy to
the Trustee, describing the transaction or transactions that constitute the Change of Control and offering to repurchase the 2042 Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than
60 days from the date such notice is mailed (the “2042 Change of Control Payment Date”), pursuant to the procedures required by Article IV of the Base Indenture, which shall apply hereto mutatis mutandis, and described in such notice.
The repurchase obligation with respect to any notice mailed prior to the consummation of the Change of Control shall be conditioned on the 2042 Change of Control Triggering Event occurring on or prior to the payment date specified in the notice.

 (c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws
and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the 2042 Notes as a result of a 2042 Change of Control Triggering Event. To the extent that the provisions of any securities laws
or regulations conflict with this Section 4.12, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.12 by virtue of such conflicts.

 (d) On the 2042 Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for payment all 2042
Notes or portions thereof properly tendered pursuant to the 2042 Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the 2042 Change of Control Payment in respect of all 2042 Notes or portions thereof properly
tendered and not validly withdrawn and (iii) deliver or cause to be delivered to the Trustee the 2042 Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of 2042 Notes or portions thereof
being repurchased by the Company. The Paying Agent shall promptly mail to each Holder of 2042 Notes properly tendered and not validly withdrawn the 2042 Change of Control Payment for such 2042 Notes, and the Trustee shall promptly authenticate and
mail (or cause to be transferred by book-entry) to each Holder a new 2042 Note equal in principal amount to any unpurchased portion of the 2042 Notes surrendered by such Holder; provided that each new 2042 Note will be in a principal amount of
$2,000 or an integral multiple of $1,000 in excess thereof. 
 (e) The Company shall not be required to make a 2042 Change of
Control Offer upon a 2042 Change of Control Triggering Event if another Person makes the 2042 Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.12 otherwise
applicable to a 2042 Change of Control Offer made by the Company and such other Person purchases all 2042 Notes properly tendered and not withdrawn pursuant to such 2042 Change of Control Offer. 

(f) Solely for purposes of this Section 4.12 in connection with the 2042 Notes, the following terms shall have the following
meanings: 

  
 21 









 “2042 Below Investment Grade Rating Event” means the 2042 Notes are rated below an
Investment Grade Rating by each of the Rating Agencies on any date from the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control, in each case until the end
of the 60-day period following the earlier of (1) the occurrence of a Change of Control or (2) public notice of the Company’s intention to effect a Change of Control; provided, however, that if during such 60-day period one or more
Rating Agencies has publicly announced that it is considering a possible downgrade of the 2042 Notes, then such 60-day period shall be extended for such time as the rating of the 2042 Notes by any such Rating Agency remains under publicly announced
consideration for possible downgrade. Notwithstanding the foregoing, a 2042 Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect of a particular Change of
Control (and thus will not be deemed a 2042 Below Investment Grade Rating Event for purposes of the definition of 2042 Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise
apply do not announce or publicly confirm or inform the Trustee in writing at the Company’s or the Trustee’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result
of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the 2042 Below Investment Grade Rating Event). 

“2042 Change of Control Triggering Event” means the occurrence of both a Change of Control and a 2042 Below Investment Grade
Rating Event. 
 Section 4.13 Guarantees. The 2042 Notes shall be guaranteed by the following Subsidiaries (which are
hereby designated “Guarantors” under the Indenture with respect to the 2042 Notes): Molson Coors International LP, Molson Coors Capital Finance ULC, Molson Coors International General, ULC, Coors International Holdco, ULC, Molson Coors
Callco ULC, Molson Canada 2005, Coors Brewing Company, CBC Holdco LLC, MC Holding Company LLC, CBC Holdco 2 LLC, Newco3, Inc., Molson Coors Brewing Company (UK) Limited, Molson Coors Holdings Limited, Golden Acquisition, and each of the
Company’s future Subsidiaries in accordance with Section 6.8 of the Base Indenture, until, in each case, such entity is released as a Guarantor in accordance with Section 16.7 of the Base Indenture. Each of the Guarantors hereby
confirms its Guarantee of the 2042 Notes and confirms the applicability of the provisions of the Base Indenture to such Guarantor with respect to the 2042 Notes. 
 Section 4.14 No Sinking Fund. The 2042 Notes are not entitled to the benefit of any sinking fund. 
 Section 4.15 Merger, Consolidation and Sale of Assets. The terms and conditions of Section 6.4 of the Base Indenture shall apply to the 2042 Notes. 

  
 22 









 ARTICLE 5. 
 FORMS OF NOTES 
 Section 5.1 Form of 2017 Notes. The 2017
Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the form set forth in Exhibit A hereto. 
 Section 5.2 Form of 2022 Notes. The 2022 Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the form set forth in Exhibit B
hereto. 
 Section 5.3 Form of 2042 Notes. The 2042 Notes and the Trustee’s Certificate of Authentication to be
endorsed thereon are to be substantially in the form set forth in Exhibit C hereto. 
 ARTICLE 6. 

ORIGINAL ISSUE OF NOTES 
 Section 6.1 Original Issue of 2017 Notes. The 2017 Notes may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the
Trustee shall, upon receipt of a Company Order, authenticate and deliver such 2017 Notes as in such Company Order provided. 

Section 6.2 Original Issue of 2022 Notes. The 2022 Notes may, upon execution of this Supplemental Indenture, be executed by the
Company and delivered to the Trustee for authentication, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver such 2022 Notes as in such Company Order provided. 

Section 6.3 Original Issue of 2042 Notes. The 2042 Notes may, upon execution of this Supplemental Indenture, be executed by the
Company and delivered to the Trustee for authentication, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver such 2042 Notes as in such Company Order provided. 

ARTICLE 7. 

MISCELLANEOUS 
 Section 7.1 Ratification of Indenture. The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed
part of the Base Indenture in the manner and to the extent herein and therein provided; provided that the provisions of this Supplemental Indenture apply solely with respect to the 2017 Notes, the 2022 Notes and the 2042 Notes. 

Section 7.2 Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the Trustee, and the
Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

  
 23 









 Section 7.3 Governing Law. This Supplemental Indenture, each 2017 Note, each 2022
Note and each 2042 Note shall be deemed to be contracts made under the law of the State of New York, and for all purposes shall be governed by and construed in accordance with the law of said State. 

Section 7.4 Separability. In case any provision in this Supplemental Indenture, the 2017 Notes, the 2022 Notes or the 2042 Notes
shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 7.5 Counterparts Originals. This Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. 

  
 24 









 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the day and year first above written. 
  

			
	 MOLSON COORS BREWING COMPANY,
 as Issuer

		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: VP, Treasurer, Tax & Strategic Finance


 GUARANTORS: 

			
	MOLSON COORS INTERNATIONAL LP
		
	By:	 	MOLSON COORS INTERNATIONAL GENERAL, ULC, Its General Partner
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Treasurer


  

			
	MOLSON COORS CAPITAL FINANCE ULC
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Treasurer


  

			
	 MOLSON COORS INTERNATIONAL
 GENERAL, ULC

		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Treasurer


  

			
	COORS INTERNATIONAL HOLDCO, ULC
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Treasurer









 
			
	MOLSON COORS CALLCO ULC
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Treasurer


  

			
	MOLSON CANADA 2005
		
	By:	 	/s/ Wouter Vosmeer
		 	Name: Wouter Vosmeer
		 	Title: CFO


  

			
	COORS BREWING COMPANY
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Vice President - Taxation and Treasurer


  

			
	CBC HOLDCO LLC
		
	By:	 	CBC HOLDCO 2 LLC, Its Managing Member
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Vice President - Taxation and Treasurer


  

			
	MC HOLDING COMPANY LLC
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Vice President - Taxation and Treasurer









 
			
	CBC HOLDCO 2 LLC
		
	By:	 	 COORS BREWING COMPANY, Its

Managing Member

		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Vice President - Taxation and Treasurer


  

			
	NEWCO3, INC.
		
	By:	 	/s/ Julio O. Ramirez
		 	Name: Julio O. Ramirez
		 	Title: Treasurer


  

			
	 MOLSON COORS BREWING COMPANY (UK)
 LIMITED

		
	By:	 	/s/ Susan Aubion
		 	Name: Susan Aubion
		 	Title: Legal Director


  

			
	MOLSON COORS HOLDINGS LIMITED
		
	By:	 	/s/ Susan Aubion
		 	Name: Susan Aubion
		 	Title: Director


  

			
	GOLDEN ACQUISITION
		
	By:	 	/s/ Susan Aubion
		 	Name: Susan Aubion
		 	Title: Director









 
			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS,
 as Trustee

		
	By:	 	Deutsche Bank National Trust Company
		
	By:	 	/s/ Jacqueline Bartnick
		 	Name: Jacqueline Bartnick
		 	Title: Director
		
	By:	 	/s/ Linda Reale
		 	Name: Linda Reale
		 	Title: Vice President









 EXIHIBIT A 
 [FACE OF 2017 NOTE] 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW
YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

  
 A-1









 CUSIP No. 60871RAB6 

MOLSON COORS BREWING COMPANY 
 2.000% SENIOR NOTES DUE 2017 
  

			
	 No. [                ]
	  	$[                            
]
		  	 As revised by the
 Schedule of
 Increases or
 Decreases in
 Global Security
 attached hereto


 Interest. Molson Coors Brewing Company, a corporation duly organized and existing under the laws
of the State of Delaware (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of [            ], as revised by the Schedule of Increases or Decreases in Global Security attached hereto, on May 1, 2017 and to pay interest thereon from May 3,
2012, or from the most recent date to which interest has been paid or duly provided for, semiannually in arrears on May 1 and November 1 in each year, commencing November 1, 2012, at the rate of 2.000% per annum, until the
principal hereof is paid or made available for payment, and (to the extent that the payment of such interest shall be legally enforceable) at the same rate on any overdue principal and premium and on any overdue installment of interest. Interest on
this Note shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 Method of Payment. The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of
business on the Record Date for such Interest Payment Date, which shall be April 15 or October 15, as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith
cease to be payable to the Holder on such Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice thereof having been given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Payment of the principal of (and premium, if any)
and any such interest on this Note shall be made at the Corporate Trust Office in U.S. Dollars or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in
accordance with arrangements satisfactory to the Trustee, by wire transfer of immediately available funds to an account designated by the Holder. 

  
 A-2









 Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Authentication. Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof
by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3









 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: 
  

			
	MOLSON COORS BREWING COMPANY
		
	By:	 	 
		 	Name:
		 	Title:


 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: 
  

			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as Trustee

		
	By:	 	 
		 	Authorized Signatory


 Signature Page to Global Note 

  
 A-4









 [REVERSE OF 2017 NOTE] 

Indenture. This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”) issued
and to be issued under an Indenture, dated as of May 3, 2012 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of May 3, 2012 (as so supplemented, herein called the “Indenture”),
among the Company, the Guarantors and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all applicable indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Notes of this series and of the terms
upon which the Notes of this series are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to $300,000,000. To the extent the terms of this Note
conflict with the terms of the Indenture, the terms of the Indenture shall govern. 
 Optional Redemption. The Notes of
this series are subject to redemption at the Company’s option, at any time and from time to time, in whole or in part, at a Redemption Price equal to the greater of (i) 100% of the principal amount to be redeemed, plus accrued and unpaid
interest thereon to, but excluding, the Redemption Date, and (ii) the sum, as determined by an Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the Notes of this series to be
redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus accrued and unpaid
interest on the principal amount being redeemed to, but excluding, the Redemption Date, in accordance with the provisions set forth herein and in Article IV of the Base Indenture. 

For purposes of determining the optional Redemption Price, the following definitions are applicable: 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Notes of this series to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Notes of this series. 
 “Comparable Treasury Price” means, with respect to any
Redemption Date: 
 (a) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations, or 
 (b) if the Independent Investment Banker obtains fewer than
four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations obtained by the Independent Investment Banker or, if the Independent Investment Banker is able to obtain only one Reference Treasury Dealer
Quotation, such Reference Treasury Dealer Quotation. 

  
 A-5









 “Independent Investment Banker” means an independent investment banking
institution of national standing appointed by the Company, which may be one of the Reference Treasury Dealers. 

“Reference Treasury Dealer” means any primary U.S. government securities dealer in the United States that the Company selects.

 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date
for the Notes of this series, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes of this series (expressed in each case as a percentage of its principal
amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the Redemption Date to each
registered Holder of the Notes of this series to be redeemed. Once notice of redemption is mailed for any Notes of this series, the Notes of this series called for redemption will become due and payable on the Redemption Date at the applicable
Redemption Price. A notice of redemption may not be conditional. If money sufficient to pay the Redemption Price of all of the Notes of this series (or portions thereof) to be redeemed on the Redemption Date is deposited with the Trustee or Paying
Agent on or before the Redemption Date and the other conditions set forth in Article IV of the Base Indenture are satisfied, and unless the Company defaults in the payment of the Redemption Price, then on and after the Redemption Date, interest
shall cease to accrue on the Notes of this series (or portions thereof) called for redemption. If fewer than all of the Notes of this series are to be redeemed, and the Notes of this series are at the time represented by a Global Note, then the
Depositary shall select by lot the particular interests to be redeemed. If the Company elects to redeem fewer than all of the Notes of this series, and any of the Notes of this series are not represented by a Global Note, then the Trustee shall
select the particular Notes of this series to be redeemed in a manner it deems appropriate and fair (and the Depositary shall select by lot the particular interests in any Global Note to be redeemed). 

[Special Mandatory Redemption. The Notes of this series are subject to redemption in whole (but not in part) at a special
mandatory redemption price (the “Special Mandatory Redemption Price”) equal to 101% of the aggregate principal amount of the Notes of this series, plus accrued and unpaid interest on the principal amount thereof to, but not including, the
Special Mandatory Redemption Date (as defined below), if the closing of the Acquisition (as defined below) has not occurred on or prior to November 2, 2012, or if, prior to such date, the SPA (as defined below) is terminated (each, a
“Special Mandatory Redemption Event”), in accordance with the provisions set forth herein and in Article IV of the Base Indenture. 

  
 A-6









 Upon the occurrence of a Special Mandatory Redemption Event, the Company shall promptly (but
in no event later than 10 Business Days following such Special Mandatory Redemption Event) notify the Trustee in writing (such date of notification, the “Redemption Notice Date”) that the Notes of this series are to be redeemed on the 30th
day following the Redemption Notice Date (such date, the “Special Mandatory Redemption Date”), in each case in accordance with the applicable provisions of Article IV of the Base Indenture. The Trustee, upon receipt of the notice specified
above, on the Redemption Notice Date shall notify each Holder in accordance with the applicable provisions of Article IV of the Base Indenture that all of the Notes of this series at the time Outstanding shall be redeemed at the Special Mandatory
Redemption Price on the Special Mandatory Redemption Date automatically and without any further action by the Holders of the Notes of this series. At or prior to 12:00 p.m., New York City time, on the Special Mandatory Redemption Date, the Company
shall deposit funds sufficient to pay the Special Mandatory Redemption Price for the Notes of this series on such date. If such deposit is made as provided above, the Notes of this series will cease to bear interest on and after the Special
Mandatory Redemption Date, unless the Company defaults in the payment of the Special Mandatory Redemption Price. 
 For purposes of this Special Mandatory Redemption provision, (i) “SPA” means the sale and purchase agreement, dated April 3, 2012, among the Company, Molson Coors Holdco – 2 Inc.
(the “Purchaser”) and StarBev L.P. for the acquisition by the Purchaser of the entire issued share capital of StarBev Holdings S.à r.l. (a wholly owned subsidiary of StarBev L.P.) from StarBev L.P., and
(ii) “Acquisition” refers to such acquisition.] 1 
 Repurchase of Notes Upon a Change of Control. Upon the occurrence of a
2017 Change of Control Triggering Event, subject to certain exceptions and conditions set forth in the Indenture, each Holder of Notes of this series shall have the right to require the Company to repurchase all or any part of such Holder’s
Notes of this series as set forth in the Indenture. 
 Guarantees. The payment by the Company of the principal of, and
premium, if any, and interest on the Notes of this series is unconditionally and irrevocably guaranteed on a joint and several basis by each of the Guarantors. 
 Defeasance and Discharge. The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of Default with respect to Notes
of this series upon compliance with certain conditions set forth in the Indenture. 
 Defaults and Remedies. If an Event
of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

Amendment, Modification and Waiver. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of this series at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of

  

	1 	 Include only in Notes of this series issued prior to a Special Mandatory Redemption Event.




  
 A-7









 
the Notes of this series at the time Outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Notes of this series at the time
Outstanding, on behalf of the Holders of all Notes of this series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Note. 
 Restrictive Covenants. The Indenture does not limit the incurrence of
additional unsecured debt by the Company or any of its Subsidiaries; however, it does limit, among other things, the incurrence of additional secured debt, the entry into sale and leaseback transactions by the Company or any of its Restricted
Subsidiaries and certain mergers, consolidations and sales of assets by the Company and the Guarantors. The limitations are subject to a number of important qualifications and exceptions set forth in the Indenture. Once a year, the Company must
report to the Trustee on its compliance with these limitations. 
 Denominations, Transfer and Exchange. The Notes of
this series are issuable only in registered form without coupons in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of
this series are exchangeable for a like aggregate principal amount of Notes of this series of any different authorized denomination or denominations, as requested by the Holder surrendering the same. 

As provided in the Indenture and subject to certain limitations therein set forth, including Section 3.6 of the Base Indenture, the
transfer of this Note is registerable in the Register, upon surrender of this Note for registration of transfer at the Registrar accompanied by a written request for transfer in form satisfactory to the Company and the Registrar duly executed by the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series of any different authorized denomination or denominations and for the same aggregate principal amount shall be issued to the designated
transferee or transferees. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company
or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Persons Deemed Owners. Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name
this Note is registered as the owner hereof for the purpose of receiving payment of principal of and premium, if any, and (subject to Section 3.8 of the Base Indenture) interest, if any, on such Note and for all other purposes whatsoever,
whether or not this Note be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 No Sinking Fund. The Notes of this series are not entitled to the benefit of any sinking fund. 

  
 A-8









 Governing Law. This Note shall be deemed to be a contract made under the law of the
State of New York, and for all purposes shall be governed by and construed in accordance with the law of said State. 

Defined Terms. All terms used in this Note and not defined herein shall have the meanings assigned to them in the Indenture.


  
 A-9









 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of Exchange
	  	Amount of increase
in Principal Amount
of this Global
Security	  	Amount of decrease
in Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
following each
decrease or increase	  	Signature of
authorized signatory
of Trustee








 EXHIBIT B 
 [FACE OF 2022 NOTE] 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW
YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

  
 B-1









 CUSIP No. 60871RAC4 

MOLSON COORS BREWING COMPANY 
 3.500% SENIOR NOTES DUE 2022 
  

			
	 No. [    ]
	  	$[                             
   ]
		  	As revised by the Schedule of Increases or Decreases in Global Security attached hereto

 Interest. Molson Coors Brewing Company, a corporation duly organized and existing under the laws
of the State of Delaware (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of [            ], as revised by the Schedule of Increases or Decreases in Global Security attached hereto, on May 1, 2022 and to pay interest thereon from May 3,
2012, or from the most recent date to which interest has been paid or duly provided for, semiannually in arrears on May 1 and November 1 in each year, commencing November 1, 2012, at the rate of 3.500% per annum, until the
principal hereof is paid or made available for payment, and (to the extent that the payment of such interest shall be legally enforceable) at the same rate on any overdue principal and premium and on any overdue installment of interest. Interest on
this Note shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 Method of Payment. The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of
business on the Record Date for such Interest Payment Date, which shall be April 15 or October 15, as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith
cease to be payable to the Holder on such Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice thereof having been given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Payment of the principal of (and premium, if any)
and any such interest on this Note shall be made at the Corporate Trust Office in U.S. Dollars or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in
accordance with arrangements satisfactory to the Trustee, by wire transfer of immediately available funds to an account designated by the Holder. 

  
 B-2









 Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Authentication. Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof
by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 B-3









 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: 
  

							
		 		 	
		 		 	MOLSON COORS BREWING COMPANY
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
 Dated: 
  

							
		 		 	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
				
		 		 	By:	 	 
		 		 		 	Authorized Signatory
		 		 		 	

 Signature Page to Global Note 

  
 B-4









 [REVERSE OF 2022 NOTE] 

Indenture. This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”) issued
and to be issued under an Indenture, dated as of May 3, 2012 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of May 3, 2012 (as so supplemented, herein called the “Indenture”),
among the Company, the Guarantors and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all applicable indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Notes of this series and of the terms
upon which the Notes of this series are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to $500,000,000. To the extent the terms of this Note
conflict with the terms of the Indenture, the terms of the Indenture shall govern. 
 Optional Redemption. The Notes of
this series are subject to redemption at the Company’s option, at any time and from time to time, in whole or in part, at a Redemption Price equal to the greater of (i) 100% of the principal amount to be redeemed, plus accrued and unpaid
interest thereon to, but excluding, the Redemption Date, and (ii) the sum, as determined by an Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the Notes of this series to be
redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus accrued and unpaid
interest on the principal amount being redeemed to, but excluding, the Redemption Date, in accordance with the provisions set forth herein and in Article IV of the Base Indenture. 

For purposes of determining the optional Redemption Price, the following definitions are applicable: 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Notes of this series to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Notes of this series. 
 “Comparable Treasury Price” means, with respect to any
Redemption Date: 
 (a) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations, or 
 (b) if the Independent Investment Banker obtains fewer than
four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations obtained by the Independent Investment Banker or, if the Independent Investment Banker is able to obtain only one Reference Treasury Dealer
Quotation, such Reference Treasury Dealer Quotation. 

  
 B-5









 “Independent Investment Banker” means an independent investment banking
institution of national standing appointed by the Company, which may be one of the Reference Treasury Dealers. 

“Reference Treasury Dealer” means any primary U.S. government securities dealer in the United States that the Company selects.

 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date
for the Notes of this series, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes of this series (expressed in each case as a percentage of its principal
amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the Redemption Date to each
registered Holder of the Notes of this series to be redeemed. Once notice of redemption is mailed for any Notes of this series, the Notes of this series called for redemption will become due and payable on the Redemption Date at the applicable
Redemption Price. A notice of redemption may not be conditional. If money sufficient to pay the Redemption Price of all of the Notes of this series (or portions thereof) to be redeemed on the Redemption Date is deposited with the Trustee or Paying
Agent on or before the Redemption Date and the other conditions set forth in Article IV of the Base Indenture are satisfied, and unless the Company defaults in the payment of the Redemption Price, then on and after the Redemption Date, interest
shall cease to accrue on the Notes of this series (or portions thereof) called for redemption. If fewer than all of the Notes of this series are to be redeemed, and the Notes of this series are at the time represented by a Global Note, then the
Depositary shall select by lot the particular interests to be redeemed. If the Company elects to redeem fewer than all of the Notes of this series, and any of the Notes of this series are not represented by a Global Note, then the Trustee shall
select the particular Notes of this series to be redeemed in a manner it deems appropriate and fair (and the Depositary shall select by lot the particular interests in any Global Note to be redeemed). 

[Special Mandatory Redemption. The Notes of this series are subject to redemption in whole (but not in part) at a special
mandatory redemption price (the “Special Mandatory Redemption Price”) equal to 101% of the aggregate principal amount of the Notes of this series, plus accrued and unpaid interest on the principal amount thereof to, but not including, the
Special Mandatory Redemption Date (as defined below), if the closing of the Acquisition (as defined below) has not occurred on or prior to November 2, 2012, or if, prior to such date, the SPA (as defined below) is terminated (each, a
“Special Mandatory Redemption Event”), in accordance with the provisions set forth herein and in Article IV of the Base Indenture. 

  
 B-6









 Upon the occurrence of a Special Mandatory Redemption Event, the Company shall promptly (but
in no event later than 10 Business Days following such Special Mandatory Redemption Event) notify the Trustee in writing (such date of notification, the “Redemption Notice Date”) that the Notes of this series are to be redeemed on the 30th
day following the Redemption Notice Date (such date, the “Special Mandatory Redemption Date”), in each case in accordance with the applicable provisions of Article IV of the Base Indenture. The Trustee, upon receipt of the notice specified
above, on the Redemption Notice Date shall notify each Holder in accordance with the applicable provisions of Article IV of the Base Indenture that all of the Notes of this series at the time Outstanding shall be redeemed at the Special Mandatory
Redemption Price on the Special Mandatory Redemption Date automatically and without any further action by the Holders of the Notes of this series. At or prior to 12:00 p.m., New York City time, on the Special Mandatory Redemption Date, the Company
shall deposit funds sufficient to pay the Special Mandatory Redemption Price for the Notes of this series on such date. If such deposit is made as provided above, the Notes of this series will cease to bear interest on and after the Special
Mandatory Redemption Date, unless the Company defaults in the payment of the Special Mandatory Redemption Price. 
 For purposes of this Special Mandatory Redemption provision, (i) “SPA” means the sale and purchase agreement, dated April 3, 2012, among the Company, Molson Coors Holdco – 2 Inc.
(the “Purchaser”) and StarBev L.P. for the acquisition by the Purchaser of the entire issued share capital of StarBev Holdings S.à r.l. (a wholly owned subsidiary of StarBev L.P.) from StarBev L.P., and
(ii) “Acquisition” refers to such acquisition.] 2 
 Repurchase of Notes Upon a Change of Control. Upon the occurrence of a
2022 Change of Control Triggering Event, subject to certain exceptions and conditions set forth in the Indenture, each Holder of Notes of this series shall have the right to require the Company to repurchase all or any part of such Holder’s
Notes of this series as set forth in the Indenture. 
 Guarantees. The payment by the Company of the principal of, and
premium, if any, and interest on the Notes of this series is unconditionally and irrevocably guaranteed on a joint and several basis by each of the Guarantors. 
 Defeasance and Discharge. The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of Default with respect to Notes
of this series upon compliance with certain conditions set forth in the Indenture. 
 Defaults and Remedies. If an Event
of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

Amendment, Modification and Waiver. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of this series at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of

  
  

	2 	 Include only in Notes of this series issued prior to a Special Mandatory Redemption Event.




  
 B-7









 
the Notes of this series at the time Outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Notes of this series at the time
Outstanding, on behalf of the Holders of all Notes of this series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Note. 
 Restrictive Covenants. The Indenture does not limit the incurrence of
additional unsecured debt by the Company or any of its Subsidiaries; however, it does limit, among other things, the incurrence of additional secured debt, the entry into sale and leaseback transactions by the Company or any of its Restricted
Subsidiaries and certain mergers, consolidations and sales of assets by the Company and the Guarantors. The limitations are subject to a number of important qualifications and exceptions set forth in the Indenture. Once a year, the Company must
report to the Trustee on its compliance with these limitations. 
 Denominations, Transfer and Exchange. The Notes of
this series are issuable only in registered form without coupons in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of
this series are exchangeable for a like aggregate principal amount of Notes of this series of any different authorized denomination or denominations, as requested by the Holder surrendering the same. 

As provided in the Indenture and subject to certain limitations therein set forth, including Section 3.6 of the Base Indenture, the
transfer of this Note is registerable in the Register, upon surrender of this Note for registration of transfer at the Registrar accompanied by a written request for transfer in form satisfactory to the Company and the Registrar duly executed by the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series of any different authorized denomination or denominations and for the same aggregate principal amount shall be issued to the designated
transferee or transferees. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company
or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Persons Deemed Owners. Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name
this Note is registered as the owner hereof for the purpose of receiving payment of principal of and premium, if any, and (subject to Section 3.8 of the Base Indenture) interest, if any, on such Note and for all other purposes whatsoever,
whether or not this Note be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 No Sinking Fund. The Notes of this series are not entitled to the benefit of any sinking fund. 

  
 B-8









 Governing Law. This Note shall be deemed to be a contract made under the law of the
State of New York, and for all purposes shall be governed by and construed in accordance with the law of said State. 

Defined Terms. All terms used in this Note and not defined herein shall have the meanings assigned to them in the Indenture.


  
 B-9









 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of Exchange
	  	Amount of increase
in Principal Amount
of this Global
Security	  	Amount of decrease
in Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
following
each
decrease or increase	  	Signature of
authorized signatory
of Trustee








 EXHIBIT C 
 [FACE OF 2042 NOTE] 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW
YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

  
 C-1









 CUSIP No. 60871RAD2 

MOLSON COORS BREWING COMPANY 
 5.000% SENIOR NOTES DUE 2042 
  

			
	 No. [    ]
	  	$[                           
     ]
		  	As revised by the Schedule of Increases or Decreases in Global Security attached hereto

 Interest. Molson Coors Brewing Company, a corporation duly organized and existing under the laws
of the State of Delaware (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of [            ], as revised by the Schedule of Increases or Decreases in Global Security attached hereto, on May 1, 2042 and to pay interest thereon from May 3,
2012, or from the most recent date to which interest has been paid or duly provided for, semiannually in arrears on May 1 and November 1 in each year, commencing November 1, 2012, at the rate of 5.000% per annum, until the
principal hereof is paid or made available for payment, and (to the extent that the payment of such interest shall be legally enforceable) at the same rate on any overdue principal and premium and on any overdue installment of interest. Interest on
this Note shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 Method of Payment. The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of
business on the Record Date for such Interest Payment Date, which shall be April 15 or October 15, as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith
cease to be payable to the Holder on such Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice thereof having been given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Payment of the principal of (and premium, if any)
and any such interest on this Note shall be made at the Corporate Trust Office in U.S. Dollars or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in
accordance with arrangements satisfactory to the Trustee, by wire transfer of immediately available funds to an account designated by the Holder. 

  
 C-2









 Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Authentication. Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof
by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 C-3









 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: 
  

							
		 		 	MOLSON COORS BREWING COMPANY
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
 Dated: 
  

							
		 		 	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
				
		 		 	By:	 	 
		 		 		 	Authorized Signatory

 Signature Page to Global Note 

  
 C-4









 [REVERSE OF 2042 NOTE] 

Indenture. This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”) issued
and to be issued under an Indenture, dated as of May 3, 2012 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of May 3, 2012 (as so supplemented, herein called the “Indenture”),
among the Company, the Guarantors and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all applicable indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Notes of this series and of the terms
upon which the Notes of this series are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to $1,100,000,000. To the extent the terms of this
Note conflict with the terms of the Indenture, the terms of the Indenture shall govern. 
 Optional Redemption. The Notes
of this series are subject to redemption at the Company’s option, at any time and from time to time, in whole or in part, at a Redemption Price equal to the greater of (i) 100% of the principal amount to be redeemed, plus accrued and
unpaid interest thereon to, but excluding, the Redemption Date, and (ii) the sum, as determined by an Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the Notes of this series
to be redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, plus accrued and
unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date, in accordance with the provisions set forth herein and in Article IV of the Base Indenture. 

For purposes of determining the optional Redemption Price, the following definitions are applicable: 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Notes of this series to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Notes of this series. 
 “Comparable Treasury Price” means, with respect to any
Redemption Date: 
 (a) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations, or 
 (b) if the Independent Investment Banker obtains fewer than
four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations obtained by the Independent Investment Banker or, if the Independent Investment Banker is able to obtain only one Reference Treasury Dealer
Quotation, such Reference Treasury Dealer Quotation. 

  
 C-5









 “Independent Investment Banker” means an independent investment banking
institution of national standing appointed by the Company, which may be one of the Reference Treasury Dealers. 

“Reference Treasury Dealer” means any primary U.S. government securities dealer in the United States that the Company selects.

 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date
for the Notes of this series, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes of this series (expressed in each case as a percentage of its principal
amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the Redemption Date to each
registered Holder of the Notes of this series to be redeemed. Once notice of redemption is mailed for any Notes of this series, all Notes of this series called for redemption will become due and payable on the Redemption Date at the applicable
Redemption Price. A notice of redemption may not be conditional. If money sufficient to pay the Redemption Price of all of the Notes of this series (or portions thereof) to be redeemed on the Redemption Date is deposited with the Trustee or Paying
Agent on or before the Redemption Date and the other conditions set forth in Article IV of the Base Indenture are satisfied, and unless the Company defaults in the payment of the Redemption Price, then on and after the Redemption Date, interest
shall cease to accrue on the Notes of this series (or portions thereof) called for redemption. If fewer than all of the Notes of this series are to be redeemed, and the Notes of this series are at the time represented by a Global Note, then the
Depositary shall select by lot the particular interests to be redeemed. If the Company elects to redeem fewer than all of the Notes of this series, and any of the Notes of this series are not represented by a Global Note, then the Trustee shall
select the particular Notes of this series to be redeemed in a manner it deems appropriate and fair (and the Depositary shall select by lot the particular interests in any Global Note to be redeemed). 

[Special Mandatory Redemption. The Notes of this series are subject to redemption in whole (but not in part) at a special
mandatory redemption price (the “Special Mandatory Redemption Price”) equal to 101% of the aggregate principal amount of the Notes of this series, plus accrued and unpaid interest on the principal amount thereof to, but not including, the
Special Mandatory Redemption Date (as defined below), if the closing of the Acquisition (as defined below) has not occurred on or prior to November 2, 2012, or if, prior to such date, the SPA (as defined below) is terminated (each, a
“Special Mandatory Redemption Event”), in accordance with the provisions set forth herein and in Article IV of the Base Indenture. 

  
 C-6









 Upon the occurrence of a Special Mandatory Redemption Event, the Company shall promptly (but
in no event later than 10 Business Days following such Special Mandatory Redemption Event) notify the Trustee in writing (such date of notification, the “Redemption Notice Date”) that the Notes of this series are to be redeemed on the 30th
day following the Redemption Notice Date (such date, the “Special Mandatory Redemption Date”), in each case in accordance with the applicable provisions of Article IV of the Base Indenture. The Trustee, upon receipt of the notice specified
above, on the Redemption Notice Date shall notify each Holder in accordance with the applicable provisions of Article IV of the Base Indenture that all of the Notes of this series at the time Outstanding shall be redeemed at the Special Mandatory
Redemption Price on the Special Mandatory Redemption Date automatically and without any further action by the Holders of the Notes of this series. At or prior to 12:00 p.m., New York City time, on the Special Mandatory Redemption Date, the Company
shall deposit funds sufficient to pay the Special Mandatory Redemption Price for the Notes of this series on such date. If such deposit is made as provided above, the Notes of this series will cease to bear interest on and after the Special
Mandatory Redemption Date, unless the Company defaults in the payment of the Special Mandatory Redemption Price. 
 For purposes of this Special Mandatory Redemption provision, (i) “SPA” means the sale and purchase agreement, dated April 3, 2012, among the Company, Molson Coors Holdco – 2 Inc.
(the “Purchaser”) and StarBev L.P. for the acquisition by the Purchaser of the entire issued share capital of StarBev Holdings S.à r.l. (a wholly owned subsidiary of StarBev L.P.) from StarBev L.P., and
(ii) “Acquisition” refers to such acquisition.]3 
 Repurchase of Notes Upon a Change of Control. Upon the occurrence of a
2042 Change of Control Triggering Event, subject to certain exceptions and conditions set forth in the Indenture, each Holder of Notes of this series shall have the right to require the Company to repurchase all or any part of such Holder’s
Notes of this series as set forth in the Indenture. 
 Guarantees. The payment by the Company of the principal of, and
premium, if any, and interest on the Notes of this series is unconditionally and irrevocably guaranteed on a joint and several basis by each of the Guarantors. 
 Defeasance and Discharge. The Indenture contains provisions for defeasance and discharge and for defeasance at any time of certain restrictive covenants and Events of Default with respect to Notes
of this series upon compliance with certain conditions set forth in the Indenture. 
 Defaults and Remedies. If an Event
of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

Amendment, Modification and Waiver. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of this series at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of

  
  

	3 	 Include only in Notes of this series issued prior to a Special Mandatory Redemption Event.




  
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the Notes of this series at the time Outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Notes of this series at the time
Outstanding, on behalf of the Holders of all Notes of this series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Note. 
 Restrictive Covenants. The Indenture does not limit the incurrence of
additional unsecured debt by the Company or any of its Subsidiaries; however, it does limit, among other things, the incurrence of additional secured debt, the entry into sale and leaseback transactions by the Company or any of its Restricted
Subsidiaries and certain mergers, consolidations and sales of assets by the Company and the Guarantors. The limitations are subject to a number of important qualifications and exceptions set forth in the Indenture. Once a year, the Company must
report to the Trustee on its compliance with these limitations. 
 Denominations, Transfer and Exchange. The Notes of
this series are issuable only in registered form without coupons in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of
this series are exchangeable for a like aggregate principal amount of Notes of this series of any different authorized denomination or denominations, as requested by the Holder surrendering the same. 

As provided in the Indenture and subject to certain limitations therein set forth, including Section 3.6 of the Base Indenture, the
transfer of this Note is registerable in the Register, upon surrender of this Note for registration of transfer at the Registrar accompanied by a written request for transfer in form satisfactory to the Company and the Registrar duly executed by the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series of any different authorized denomination or denominations and for the same aggregate principal amount shall be issued to the designated
transferee or transferees. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company
or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Persons Deemed Owners. Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name
this Note is registered as the owner hereof for the purpose of receiving payment of principal of and premium, if any, and (subject to Section 3.8 of the Base Indenture) interest, if any, on such Note and for all other purposes whatsoever,
whether or not this Note be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 No Sinking Fund. The Notes of this series are not entitled to the benefit of any sinking fund. 

  
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 Governing Law. This Note shall be deemed to be a contract made under the law of the
State of New York, and for all purposes shall be governed by and construed in accordance with the law of said State. 

Defined Terms. All terms used in this Note and not defined herein shall have the meanings assigned to them in the Indenture.


  
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 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of
 Exchange
	  	Amount of increase
in Principal Amount
of this Global
Security	  	Amount of decrease
in Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
following
each
decrease or increase	  	Signature of
authorized signatory
of Trustee