Document:

Form of Profitable Growth Incentive Award

 EXHIBIT 10.1 
 FORM OF 
 PROFITABLE GROWTH INCENTIVE 

AWARD AGREEMENT 
 201     – 201     

[2-Year Performance Period] 

[Name], 
 Congratulations! On
            , 201    , Leggett & Platt, Incorporated (the “Company”) granted you a Profitable Growth Incentive Award (the
“Award”) under the Company’s Flexible Stock Plan (the “Stock Plan”). The Award is granted subject to the enclosed Terms and Conditions – Profitable Growth Incentive (201    
– 201    ) (the “Terms and Conditions”). 
 You have been granted a base Award of
[XXXX] growth performance stock units (“GPSUs”). The number of GPSUs for your base Award was determined by multiplying your current annual base salary by your Award multiple (set by Senior Management and approved by the
Compensation Committee), and dividing this amount by the average closing share price of the Company’s stock for the 10 business days following the 201     fourth quarter earnings release. 

A percentage of your base Award will vest on December 31, 201     and will be paid out in a combination of cash and
shares of the Company’s common stock, as described in the Terms and Conditions, by March 15, 201    . Fifty percent of your vested Award will be paid out in cash, and the Company intends to pay out the remaining
50% in shares of the Company’s common stock. 
 As described in the Terms and Conditions, the payout you ultimately receive from this Award
depends on [the Company’s] [the XXX Segment’s] EBITDA Margin and Revenue Growth during the [2-year] 201     – 201     Performance Period. 

A percentage of your base Award will vest (ranging from 0% to 250%), according to the schedule below: 

 

																									
	 EBITDA Margin
	  	Award Payout Percentage	 
	 X+    %
	  	 	0	% 	 	 	100	% 	 	 	138	% 	 	 	175	% 	 	 	212	% 	 	 	250	% 
	 X+    %
	  	 	0	% 	 	 	75	% 	 	 	100	% 	 	 	138	% 	 	 	175	% 	 	 	212	% 
	 X+    %
	  	 	0	% 	 	 	50	% 	 	 	75	% 	 	 	100	% 	 	 	138	% 	 	 	175	% 
	 X%
	  	 	0	% 	 	 	25	% 	 	 	50	% 	 	 	75	% 	 	 	100	% 	 	 	138	% 
	 <X%
	  	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 
		  	 	<Y	% 	 	 	Y	% 	 	 	Y+    	% 	 	 	Y+    	% 	 	 	Y+    	% 	 	 	Y+    	% 
		  	 	Revenue Growth	  

 By signing below, you confirm that you understand and agree that this Award is granted subject to the Terms and
Conditions and the Stock Plan, and that the Terms and Conditions are included in this Agreement by reference. 
 A summary of the Flexible Stock
Plan and the Company’s most recent Annual Report to Shareholders are available upon request to the Corporate Human Resources Department. 

Accepted and Agreed: 
  

											
	  
	  		  	 	Date:	  	  	  
	  	
		  		  				  		  	

 This award letter and the enclosed materials are part of a prospectus covering securities that have been registered under
the Securities Act of 1933. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or determined if this prospectus is truthful or complete. 

 FORM OF 
 PROFITABLE GROWTH INCENTIVE 
 TERMS AND CONDITIONS 

201     – 201     

[2-Year Performance Period] 
 1. Performance Period and Payout Percentage. Your payout under this Profitable Growth Incentive Award (the “Award”) will depend on (i) the base award of growth
performance stock units (“GPSUs”) shown on your Award Agreement and (ii) the Company’s or applicable profit centers’ performance during the two-year period beginning January 1,
201     and ending December 31, 201     (the “Performance Period”). 

Your Award Agreement sets forth your Revenue Growth and EBITDA Margin targets for the Company or applicable profit centers during the Performance Period.
Based upon this performance matrix, you can earn up to 250% of your base Award (the “Payout Percentage”). No payout will be earned if either or both of the Revenue Growth or the EBITDA Margin thresholds are not met. Payouts will be
interpolated for achievement falling between the target levels shown in the Award Agreement. 
 Revenue Growth for the Company or
applicable profit centers will be the compound annual growth rate (“CAGR”) of the Total Incremental Revenue compared to the Base Year Revenue. “Base Year Revenue” is the total Revenue of the Company or applicable
profit centers in the fiscal year immediately preceding the Performance Period. “Total Incremental Revenue” is the cumulative Revenue of the Company or applicable profit centers during the Performance Period, minus two times the
Base Year Revenue. 
 For example, assume a profit center has Base Year Revenue of $500 million and a targeted Revenue Growth of
4%. At the targeted 4% CAGR, the $500 million in Base Year Revenue would grow to $520 million in the first year, and the $520 million would grow to $541 million in the second year. Therefore, to achieve the 4% Revenue Growth Target, the profit
center must produce Total Incremental Revenue of $61 million [$520 + $541 – (2 X $500)]. 
 EBITDA Margin for the Company or
applicable profit centers is their cumulative Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) over the Performance Period divided by the total Revenue over the Performance Period. EBITDA results will be adjusted to eliminate
gain or loss from non-cash impairments. 
 The calculations for Revenue Growth and EBITDA Margin will include results from businesses acquired
during the Performance Period. Revenue Growth and EBITDA Margin will exclude results for any businesses divested during the Performance Period, and the divested businesses’ Revenue will also be deducted from Base Year Revenue. EBITDA Margin
will be adjusted for all items of gain, loss or expense that are (i) extraordinary, (ii) unusual in nature, (iii) infrequent in occurrence, (iv) related to the disposal of a segment of a business, or (v) related to a change
in accounting principle, as determined in accordance with standards established under Generally Accepted Accounting Principles. 
 2.
Vesting of Award and Form of Payout. With the exception of early vesting for circumstances described in Sections 3 and 4, this Award will vest on December 31, 201     (the “Vesting
Date”), as described in Section 1. Fifty percent (50%) of your vested Award will be paid out in cash, and the Company intends to pay out the remaining fifty percent (50%) in shares of the Company’s common stock, although
the Company reserves the right to pay up to one hundred percent (100%) of the vested Award in cash. The portion of the Award that is paid in cash is referred to as the “Cash Portion,” and the portion of the Award that is paid
in shares of the Company’s common stock is referred to as the “Stock Portion.” Your vested Award will be paid out as soon as reasonably practicable following the end of the Performance Period but in no event later than
March 15, 201     (the “Payout Date”). On the Payout Date, the Company will issue to you (i) one share of the Company’s common stock for each vested GPSU comprising the Stock Portion of your
Award, subject to reduction for tax withholding, and (ii) a check with a gross value equal to the 

  
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closing market price of the Company’s common stock on the last business day of the Performance Period (or the date of the Change in Control if Section 4 applies) times the number of
vested GPSUs comprising the Cash Portion of your Award, subject to reduction for tax withholding. As described in Section 7, the Company will withhold from both the Stock and Cash Portions of your payout any amount required to satisfy
applicable tax withholding requirements. 
  

	3.	Termination of Employment. 

  

	 	a.	Except as provided in Section 3(b) and Section 4, if your employment is terminated for any reason before the Vesting Date, your right to this Award will
terminate immediately upon such termination of employment. Termination of employment and similar terms when used in this Award refer to a termination of employment that constitutes a separation from service within the meaning of Section 409A of
the Internal Revenue Code. 

  

	 	b.	If your termination of employment during the Performance Period is due to Retirement (as defined below), death, or Disability (as defined below), you will receive a pro
rata number of shares following the end of the Performance Period for each full calendar year prior to your termination. 

 “Retirement” means you voluntarily quit (i) on or after age 65, or (ii) on or after age 55 if you have at least 20 years of service with the Company or any company
or division acquired by the Company. 
 “Disability” means the inability to substantially perform your duties
and responsibilities by reason of any accident or illness that can be expected to result in death or to last for a continuous period of not less than one year; provided, however, the Award shall continue to vest for 18 months after Disability
begins. 
  

	 	c.	The employment relationship will be treated as continuing intact while you are on military, sick leave or other bona fide leave of absence if (i) the
Company does not terminate the employment relationship or (ii) your right to re-employment is guaranteed by statute or by contract. 

 4. Change in Control. If, during the Performance Period, a Change in Control of the Company (as defined in the Flexible Stock Plan) occurs and your employment is terminated either
(i) by the Company (for reasons other than Disability or Cause) or (ii) by you for Good Reason, then the Company (or its successor) will issue to you 250% of your Base Award, within thirty (30) days following your termination of
employment (subject to delay until the first day of the first month that is more than six months following your separation from service to the extent required in Section 16.7 of the Stock Plan, if you are a specified employee within the meaning
of Section 409A of the Internal Revenue Code). 
  

	 	a.	Termination by Company for Cause. Termination for “Cause” under this Agreement shall be limited to the following:

  

	 	i.	Your conviction of any crime involving money or other property of the Company or any of its affiliates (including entering any plea bargain admitting criminal guilt),
or a conviction of any other crime (whether or not involving the Company or any of its affiliates) that constitutes a felony in the jurisdiction involved; or 

  
 3 

	 	ii.	Your willful act or omission involving fraud, misappropriation, or dishonesty that (i) causes material injury to the Company or (ii) results in a material
personal enrichment to you at the expense of the Company; or 

  

	 	iii.	Your continued, repeated, willful failure to substantially perform your duties; provided, however, that no discharge shall be deemed for Cause under this subsection
(a) unless you first receive written notice from the Company advising you of specific acts or omissions alleged to constitute a failure to perform your duties, and such failure continues after you have had a reasonable opportunity to correct
the acts or omissions so complained of. 

 A termination shall not be deemed for Cause if, for example, the
termination results from the Company’s determination that your position is redundant or unnecessary or that your performance is unsatisfactory. 
  

	 	b.	Termination by Executive for Good Reason. You may terminate your employment for “Good Reason” following a Change in Control by giving
notice of termination to the Company during the Performance Period following (i) any action or omission by the Company described in this Section or (ii) receipt of notice from the Company of the Company’s intention to take any such
action or engage in any such omission. 

 The actions or omissions which may lead to a termination of employment
for Good Reason are as follows: 
  

	 	i.	A reduction by the Company in your base salary as in effect immediately prior to the Change in Control; or 

 

	 	ii.	A change in your reporting responsibilities, titles or offices as in effect immediately prior to a Change in Control that results in a material diminution within the
Company of title, status, authority or responsibility; or 

  

	 	iii.	A material reduction in your target annual incentive opportunity as in effect immediately prior to the Change in Control, expressed as a percentage of base salary; or

  

	 	iv.	A requirement by the Company that you be based or perform your duties anywhere other than at the location immediately prior to the Change in Control, except for
required travel on the Company’s business to an extent substantially consistent with your business travel obligations immediately prior to the Change in Control; or 

 

	 	v.	A material reduction in annual target value of your long-term incentive awards as in effect immediately prior to the Change in Control (with the value determined in
accordance with generally accepted accounting standards); or 

  

	 	vi.	A failure by the Company to obtain the assumption agreement to perform this Agreement by any successor as contemplated by Section 12 of this Agreement; or

  

	 	vii.	Any purported termination of your employment for Disability or for Cause that is not carried out pursuant to a notice of termination which satisfies the requirements of
Section 4(c); and for purposes of this Agreement, no such purported termination shall be effective. 

  
 4 

	 	c.	Notice of Termination. Any purported termination by the Company of your employment shall be communicated by notice of termination to the other party. A
notice of termination shall set forth, in reasonable detail, the facts and circumstances claimed to provide a basis for termination of employment under the Section so indicated. 

 

	 	d.	Date of Termination. The date your employment is terminated under this Section 4 is the “Date of Termination.” In cases of
Disability, the Date of Termination shall be 30 days after notice of termination is given (provided that you shall not have returned to the performance of your duties on a full-time basis during such 30-day period). If your employment is terminated
for Cause, the Date of Termination shall be the date specified in the notice of termination. If your employment is terminated for Good Reason, the Date of Termination shall be the date set out in the notice of termination. 

Any dispute by a party hereto regarding a notice of termination delivered to such party must be conveyed to the other party within 30 days
after the notice of termination is given. If the particulars of the dispute are not conveyed within the 30-day period, then the disputing party’s claims regarding the termination shall be forever deemed waived. 

5. Transferability. The Award may not be transferred, assigned, pledged or otherwise encumbered until the underlying shares have been
issued or settled in cash. 
 6. No Rights as Shareholder. You will not have the rights of a shareholder with respect to the Stock
Portion of the Award until the shares have been issued. You will not have the right to vote the shares or receive any dividends that may be paid on the shares prior to issuance. 
 7. Withholding. You will recognize taxable income equal to the fair market value of the shares underlying the Stock Portion of the Award on the Payout Date plus the dollar value of the Cash
Portion of the Award. This amount is subject to ordinary income tax and payroll tax. The Company will withhold (at the Company’s required withholding rate) any amount required to satisfy applicable tax laws (i) in cash from the Cash
Portion of the payout and (ii) in shares from the Stock Portion of the payout. The Company, at its discretion, may allow you to pay the taxes due on the Stock Portion of the payout in cash instead of shares if you make suitable arrangements
with the Company prior to the Payout Date. 
 The income and tax withholding generated by your payout will be reported on your W-2. If your
personal income tax rate is higher than the Company’s minimum required withholding rate, you will owe additional tax on the issuance. After payment of the ordinary income tax, the shares you receive for the Stock Portion of your payout will
have a tax basis equal to the closing price of L&P stock on the Payout Date. 
 8. Noncompetition. For two years
after the Payout Date of this Award, you will not directly or indirectly (i) engage in any Competitive Activity, (ii) solicit orders from or seek or propose to do business with any customer of the Company or its subsidiaries
or affiliates (collectively, the “Companies”) relating to any Competitive Activity, or (iii) influence or attempt to influence any employee, representative or advisor of the Companies to terminate his or her employment
or relationship with the Companies. “Competitive Activity” means any manufacture, sale, distribution, engineering, design, promotion or other activity that competes with any business of the Companies in which you were involved as an
employee, consultant or agent. 
 If you violate the preceding paragraph, then you will pay to the Company any Award Gain you realized from this
Award. “Award Gain” for the Cash Portion of your Award is equal to (i) the cash paid to you on the Payout Date of this Award (including the tax withholding), minus (ii) any non-refundable taxes paid by
you 

  
 5 

 
as a result of the distribution. “Award Gain” for the Stock Portion of your Award is equal to (i) the number of shares distributed to you on the Payout Date of this
Award times the fair market value of L&P stock on the Payout Date (including the tax withholding), minus (ii) any non-refundable taxes paid by you as a result of the distribution. 

If any restriction in this Section is deemed unenforceable, then the appropriate court will reduce the scope or other provisions and enforce the
restrictions set out in this section in their reduced form. The covenants in this Section are in addition to any similar covenants under any other agreement between the Company and you. 
 9. Repayment of Awards. If, within 24 months after an Award is paid, the Company is required to restate previously reported financial results, the Committee will require all Award recipients
to repay any amounts paid in excess of the amounts that would have been paid based on the restated financial results. The Committee will issue a written Notice of Repayment documenting the corrected Award calculation and the amount and terms of
repayment. 
 In addition, the Committee may require repayment of the entire Award from any Award recipients determined, in its discretion, to
be personally responsible for gross misconduct or fraud that caused the need for the restatement. 
 The Award recipient must repay the amount
specified in the Notice of Repayment. The Committee may, in its discretion, reduce a current year Award payout as necessary to recoup any amounts outstanding under a previously issued Notice of Repayment. 

10. Award Not Benefit Eligible. This Award will be considered special incentive compensation and will not be included as earnings, wages,
salary or compensation in any pension, retirement, welfare, life insurance or other employee benefit plan or arrangement of the Company. 
 11.
Plan Controls; Committee. This Award is subject to all terms, provisions and definitions of the Flexible Stock Plan (the “Plan”), which is incorporated by reference. In the event of any conflict, the Plan will control
over this Award. Upon request, a copy of the Plan will be furnished to you. The Plan is administered by a committee of non-employee directors or their designees (the “Committee”). The Committee’s decisions and interpretations
with regard to this Award will be binding and conclusive. 
 12. Assignment. The Company will require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Award Agreement. As used in the Award
Agreement, “Company” means (i) Leggett & Platt, Incorporated, its subsidiaries and affiliates, and (ii) any successor to its business and/or assets which executes and delivers the agreement provided for in
this Section or which otherwise becomes bound by all the terms and provisions of this Award Agreement by operation of law. 
 13.
Other. In the absence of any specific agreement to the contrary, the grant of this Award to you will not affect any right of the Company or its subsidiaries to terminate your employment or your right to resign from employment.

 This Award is intended to comply with the requirements of Section 162(m) of the Internal Revenue Code for performance-based
compensation. 

  
 6 

 This Award is entered into and accepted in Carthage, Missouri. The Award will be governed by Missouri law,
excluding any conflicts or choice of law provision that might otherwise refer construction or interpretation of the Award to the substantive law of another jurisdiction. 
 Any action or proceeding arising from or related to this Award is subject to the exclusive venue and subject matter jurisdiction of the Circuit Court for Jasper County, Missouri or the United States
District Court for the Western District of Missouri, and the parties agree to submit to the jurisdiction of such Courts. The parties also waive the defense of an inconvenient forum and agree not to seek any change of venue from such Courts.

  
 7Officers Certificate dated December 12, 2012

 Exhibit 4.3 
 BROWN-FORMAN CORPORATION 
 Officers’ Certificate Delivered Pursuant
to 
 Sections 1.02, 2.02 and 3.01 of the Indenture 

1. The undersigned, the Chairman and Chief Executive Officer and Executive Vice President and Chief Financial Officer of Brown-Forman
Corporation (the “Company”), hereby certify that: 
 a. This Certificate is delivered to U.S. Bank
National Association (the “Trustee”), as trustee, pursuant to Sections 1.02, 2.02 and 3.01 of the indenture (the “base indenture”) dated as of April 2, 2007 between us and U.S. Bank National Association, as trustee, as
supplemented by a supplemental indenture dated as of December 13, 2010 (together with the base indenture, the “Indenture”), between the Company and the Trustee in connection with the Company Order dated December 12, 2012 for the
authentication and delivery by the Trustee of $250,000,000 aggregate principal amount of the Company’s 1.000% Notes due 2018 (the “2018 Notes”), $250,000,000 aggregate principal amount of the Company’s 2.250% Notes due 2023 (the
“2023 Notes”), and $250,000,000 aggregate principal amount of the Company’s 3.750% Notes due 2043 (the “2043 Notes”, and collectively with the 2018 Notes and the 2023 Notes, the “Notes”). 

b. The undersigned have read all covenants and conditions of the Indenture relating to the creation of the Notes.

 c. The statements made herein are based either upon the personal knowledge of the persons making this
Certificate or on information, data and reports furnished to such persons by the officers, counsel, department heads or employees of the Company who have knowledge of the facts involved. 

d. In the opinion of the undersigned, they have made such examination or investigation as is necessary to enable them to
express an informed opinion as to whether or not all conditions provided for in the Indenture with respect to the Company Order have been complied with. 
 e. In the opinion of the undersigned, all conditions precedent provided in the Indenture to the authentication by the Trustee of the Notes have been complied with, and such Notes may be delivered in
accordance with the Company Order as provided in the Indenture. 

 f. The terms of the Notes of each series (including the Forms of the Notes)
shall be as set forth in Exhibit A, as established pursuant to resolutions duly adopted by the Pricing Committee of the Board of Directors of the Company on December 10, 2012 (a copy of such resolutions being attached hereto as
Exhibit B). 
 IN WITNESS WHEREOF, the undersigned have hereunto executed this Certificate as of December 12,
2012. 
  

	
	 /s/ Paul C. Varga

	Name: Paul C. Varga
	Title: Chairman and Chief Executive Officer
	
	 /s/ Donald C. Berg

	Name: Donald C. Berg
	Title: Executive Vice President and Chief
	 Financial Officer

 EXHIBIT A 
 Exhibit A 
 (Terms of the Notes) 

 BROWN-FORMAN CORPORATION 

1.000% Notes due 2018 
 A series of Securities is hereby established pursuant to Section 3.01 of the indenture, dated as of April 2, 2007 (the “base indenture), as supplemented by a supplemental indenture dated as
of December 13, 2010 (together with the base indenture, the “Indenture”) between Brown-Forman Corporation (the “Company”) and U.S. Bank National Association, as trustee (the “Trustee”), as follows (each capitalized
term used but not defined herein shall have the meaning assigned to such term in the Indenture): 
 1. The title of the 1.000%
Notes due 2018 shall be “1.000% Notes due 2018” (the “Notes”). 
 2. The limit upon the aggregate principal
amount of the Notes that may be authenticated and delivered under the Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes) is $250,000,000; provided, however, that
the authorized aggregate principal amount of the Notes may be increased before or after the issuance of any Notes by a Board Resolution (or action pursuant to a Board Resolution) to such effect. 

3. The issue date for the Notes shall be December 12, 2012. 

4. The Scheduled Maturity Date of the Notes shall be January 15, 2018. 

5. Principal and interest on the Notes shall be payable at the office of the Trustee in Louisville, Kentucky. 

6. The Notes will be issued at 99.669% of their face amount. 
 7. The Notes will bear interest at 1.000% per annum. 
 8. The date from which
interest shall accrue for the Notes shall be December 12, 2012. The Interest Payment Dates on which such interest shall be payable shall be January 15 and July 15 of each year, commencing July 15, 2013. The record dates for the
interest payable on the Notes on any Interest Payment Date shall be January 1 or July 1, as the case may be, next preceding such Interest Payment Date. 
 9. Not applicable. 
 10. The Notes are subject to redemption at the option of
the Company, as set forth in the Notes. 
 11. The Company shall have no obligation to redeem, purchase or repay Notes
pursuant to any sinking fund or analogous provision or at the option of a Holder thereof. 
 12. The Notes shall be in global
form under the Indenture and shall be exchangeable for individual Securities only as set forth in Section 3.05 of the Indenture. The Depository Trust Company is hereby designated as the Depository for the Securities in global form under the
Indenture. 

 13. Not applicable. 

14. Notes may be issued in denominations of $2,000 and integral multiples of $1,000 above that amount. 

15. Not applicable. 
 16. Interest on the Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 17. Not applicable. 
 18. Not applicable. 

19. Not applicable. 
 20. Not applicable. 
 21. Not applicable. 

22. Not applicable. 
 23. Not applicable. 
 24. Not applicable. 

25. Not applicable. 
 26. Not applicable. 
 27. Not applicable. 

28. All provisions set forth in Sections 4.02 and 4.03 of the Indenture shall apply to the Notes. 

29. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Annex A-1 hereto (the “Form
of Note”), and the Notes shall have the additional terms set forth in the Form of Note. 

 BROWN-FORMAN CORPORATION 

2.250% Notes due 2023 
 A series of Securities is hereby established pursuant to Section 3.01 of the indenture, dated as of April 2, 2007 (the “base indenture), as supplemented by a supplemental indenture dated as
of December 13, 2010 (together with the base indenture, the “Indenture”) between Brown-Forman Corporation (the “Company”) and U.S. Bank National Association, as trustee (the “Trustee”), as follows (each capitalized
term used but not defined herein shall have the meaning assigned to such term in the Indenture): 
 1. The title of the 2.250%
Notes due 2023 shall be “2.250% Notes due 2023” (the “Notes”). 
 2. The limit upon the aggregate principal
amount of the Notes that may be authenticated and delivered under the Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes) is $250,000,000; provided, however, that
the authorized aggregate principal amount of the Notes may be increased before or after the issuance of any Notes by a Board Resolution (or action pursuant to a Board Resolution) to such effect. 

3. The issue date for the Notes shall be December 12, 2012. 

4. The Scheduled Maturity Date of the Notes shall be January 15, 2023. 

5. Principal and interest on the Notes shall be payable at the office of the Trustee in Louisville, Kentucky. 

6. The Notes will be issued at 99.345% of their face amount. 
 7. The Notes will bear interest at 2.250% per annum. 
 8. The date from which
interest shall accrue for the Notes shall be December 12, 2012. The Interest Payment Dates on which such interest shall be payable shall be January 15 and July 15 of each year, commencing July 15, 2013. The record dates for the
interest payable on the Notes on any Interest Payment Date shall be January 1 or July 1, as the case may be, next preceding such Interest Payment Date. 
 9. Not applicable. 
 10. The Notes are subject to redemption at the option of
the Company, as set forth in the Notes. 
 11. The Company shall have no obligation to redeem, purchase or repay Notes
pursuant to any sinking fund or analogous provision or at the option of a Holder thereof. 
 12. The Notes shall be in global
form under the Indenture and shall be exchangeable for individual Securities only as set forth in Section 3.05 of the Indenture. The Depository Trust Company is hereby designated as the Depository for the Securities in global form under the
Indenture. 

 13. Not applicable. 

14. Notes may be issued in denominations of $2,000 and integral multiples of $1,000 above that amount. 

15. Not applicable. 
 16. Interest on the Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 17. Not applicable. 
 18. Not applicable. 

19. Not applicable. 
 20. Not applicable. 
 21. Not applicable. 

22. Not applicable. 
 23. Not applicable. 
 24. Not applicable. 

25. Not applicable. 
 26. Not applicable. 
 27. Not applicable. 

28. All provisions set forth in Sections 4.02 and 4.03 of the Indenture shall apply to the Notes. 

29. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Annex A-2 hereto (the “Form
of Note”), and the Notes shall have the additional terms set forth in the Form of Note. 

 BROWN-FORMAN CORPORATION 

3.750% Notes due 2043 
 A series of Securities is hereby established pursuant to Section 3.01 of the indenture, dated as of April 2, 2007 (the “base indenture), as supplemented by a supplemental indenture dated as
of December 13, 2010 (together with the base indenture, the “Indenture”) between Brown-Forman Corporation (the “Company”) and U.S. Bank National Association, as trustee (the “Trustee”), as follows (each capitalized
term used but not defined herein shall have the meaning assigned to such term in the Indenture): 
 1. The title of the 3.750%
Notes due 2043 shall be “3.750% Notes due 2043” (the “Notes”). 
 2. The limit upon the aggregate principal
amount of the Notes that may be authenticated and delivered under the Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes) is $250,000,000; provided, however, that
the authorized aggregate principal amount of the Notes may be increased before or after the issuance of any Notes by a Board Resolution (or action pursuant to a Board Resolution) to such effect. 

3. The issue date for the Notes shall be December 12, 2012. 

4. The Scheduled Maturity Date of the Notes shall be January 15, 2043. 

5. Principal and interest on the Notes shall be payable at the office of the Trustee in Louisville, Kentucky. 

6. The Notes will be issued at 99.978% of their face amount. 
 7. The Notes will bear interest at 3.750% per annum. 
 8. The date from which
interest shall accrue for the Notes shall be December 12, 2012. The Interest Payment Dates on which such interest shall be payable shall be January 15 and July 15 of each year, commencing July 15, 2013. The record dates for the
interest payable on the Notes on any Interest Payment Date shall be January 1 or July 1, as the case may be, next preceding such Interest Payment Date. 
 9. Not applicable. 
 10. The Notes are subject to redemption at the option of
the Company, as set forth in the Notes. 
 11. The Company shall have no obligation to redeem, purchase or repay Notes
pursuant to any sinking fund or analogous provision or at the option of a Holder thereof. 
 12. The Notes shall be in global
form under the Indenture and shall be exchangeable for individual Securities only as set forth in Section 3.05 of the Indenture. The Depository Trust Company is hereby designated as the Depository for the Securities in global form under the
Indenture. 

 13. Not applicable. 

14. Notes may be issued in denominations of $2,000 and integral multiples of $1,000 above that amount. 

15. Not applicable. 
 16. Interest on the Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 17. Not applicable. 
 18. Not applicable. 

19. Not applicable. 
 20. Not applicable. 
 21. Not applicable. 

22. Not applicable. 
 23. Not applicable. 
 24. Not applicable. 

25. Not applicable. 
 26. Not applicable. 
 27. Not applicable. 

28. All provisions set forth in Sections 4.02 and 4.03 of the Indenture shall apply to the Notes. 

29. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Annex A-3 hereto (the “Form
of Note”), and the Notes shall have the additional terms set forth in the Form of Note. 

 ANNEX A-1 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR 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 THE DEPOSITORY TRUST COMPANY, AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF, CEDE & CO.
HAS AN INTEREST HEREIN. 
  

			
	 No. R-1
	  	CUSIP No. 115637 AN0

 BROWN-FORMAN CORPORATION 
 1.000% NOTE DUE 2018 
 BROWN-FORMAN CORPORATION, a corporation duly organized and
existing under the laws of the State of Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of $250,000,000 (TWO HUNDRED AND FIFTY MILLION DOLLARS) on January 15, 2018, and to pay interest on said principal sum semi-annually on January 15 and July 15 of each year,
commencing, July 15, 2013, at the rate of 1.000% per annum from December 12, 2012, or from the most recent date in respect of which interest has been paid or duly provided for, until payment of the principal sum has been made or duly
provided for. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in the 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 the January 1 or July 1 (whether or not a New York Business Day) next preceding such Interest Payment Date. Any such interest that is payable but is
not so punctually paid or duly provided for shall forthwith cease to be payable to the registered 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 whereof shall be given to Holders of Notes not earlier than 10 days prior to such Special Record Date, or may be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed and upon such notice as may be required by such exchange, if such manner of payment shall be deemed practical by the
Trustee, all as more fully provided in the Indenture. 
 Payment of the principal of and interest on this Note will be made at
the Place of Payment in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts; provided, however, that payments of interest may be made at the option of the Company by checks
mailed to the addresses of the Persons entitled thereto as such addresses shall appear in the Security Register. 

 Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place. Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature under its corporate seal or a facsimile thereof. 
  

							
	Dated:	 		 	BROWN-FORMAN CORPORATION
				
		 		 	By:	 	  

		 		 		 	Authorized Officer
				
		 		 	By:	 	  

		 		 		 	Authorized Officer

  

	
	[seal]
	
	Attest:
	
	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Officer

 REVERSE OF NOTE 

BROWN-FORMAN CORPORATION 
 1.000 % NOTE DUE 2018 
 This Note is one of a duly authorized issue of
debentures, notes or other evidences of indebtedness of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of April 2, 2007, as supplemented by the
Supplemental Indenture dated as of December 13, 2010 (as so supplemented, the “Indenture”), between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee”, which term includes
any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee, and the Holders of the Securities, the
terms upon which the Securities are, and are to be, authenticated and delivered, and the definition of capitalized terms used herein and not otherwise defined herein. The Securities may be issued in one or more series, which different series may be
issued in various aggregate principal amounts, may be denominated in different currencies, may mature at different times, may bear interest (if any) at different rates (which rates may be fixed or variable), may be subject to different redemption
provisions (if any), may be subject to different sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of Default, and may otherwise vary as provided in the Indenture. This Note is one of a series of
Securities of the Company designated as set forth on the face hereof (herein called the “Notes”), limited in aggregate principal amount to $250,000,000. 
 The Notes may be redeemed at the Company’s option, upon notice as set forth in the Indenture, in whole at any time or in part from time to time at a redemption price equal to (A) the greater of
(i) 100% of the principal amount of the Notes to be redeemed on the redemption date or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed on that redemption date
(not including any portion of any payment of interest accrued to the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 10 basis points,
as determined by the Reference Treasury Dealer, plus (B) in each case accrued and unpaid interest on the Notes to the redemption date; provided that if the date fixed for redemption is a date on or after the Record Date and on or before the
next following Interest Payment Date, then the interest payable on such date shall be paid to the Holder of record on the relevant Record Date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Notes 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 such Notes. 

“Comparable Treasury Price” means with respect to any redemption date, (1) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
such quotations. 

 “Independent Investment Banker” means one of the Reference Treasury Dealers that
the Company appoints to act as the Independent Investment Banker from time to time. 
 “Reference Treasury Dealer”
means each of Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce Fenner & Smith Incorporated and one additional dealer in United States Treasury Securities selected by the Company (each a “Primary Treasury
Dealer”), provided, however, that if any of them ceases to be a Primary Treasury Dealer, the Company will substitute another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid
and asked prices for the Comparable Treasury Issue (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 semi-annual equivalent yield to maturity, computed as of the second Business Day immediately preceding that redemption date, 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 that redemption date. 
 In the event of
redemption of this Note in part only, a new Note or Notes for the unredeemed portion hereof will be issued in the name of the Holder hereof upon cancellation hereof. 
 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 Securities
of each series under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected by such amendment or
modification. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of Securities of such 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 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. 

The Indenture contains provisions setting forth certain conditions to the institution of proceedings by Holders of Securities with
respect to the Indenture or for any remedy under the Indenture. 

 If an Event of Default with respect to the Notes shall occur and be continuing, the
principal amount hereof may be declared due and payable or may be otherwise accelerated in the manner and with the effect provided in the Indenture. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and
interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Note is registerable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any Place of
Payment duly endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new
Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in addition thereto. As provided in the Indenture and subject to certain
limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration or transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to the 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 as herein provided and for
all other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Note which are defined in the Indenture and are not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 [PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE] 
 [PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE] 
 the within Note and all
rights thereunder, hereby irrevocably constituting and appointing attorney to transfer such Note on the books of the Company, with full power of substitution in the premises. 
 Dated:              
 NOTICE: The
signature to this assignment must correspond with the name as written upon the face of the within Note in every particular without alteration or enlargement or any change whatsoever. 

 ANNEX A-2 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR 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 THE DEPOSITORY TRUST COMPANY, AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF, CEDE & CO.
HAS AN INTEREST HEREIN. 
  

					
	 No. R-1
	  	 	CUSIP No. 115637 AM2                	  

 BROWN-FORMAN CORPORATION 
 2.250% NOTE DUE 2023 
 BROWN-FORMAN CORPORATION, a corporation duly organized and
existing under the laws of the State of Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of $250,000,000 (TWO HUNDRED AND FIFTY MILLION DOLLARS) on January 15, 2023, and to pay interest on said principal sum semi-annually on January 15 and July 15 of each year,
commencing, July 15, 2013, at the rate of 2.250% per annum from December 12, 2012, or from the most recent date in respect of which interest has been paid or duly provided for, until payment of the principal sum has been made or duly
provided for. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in the 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 the January 1 or July 1 (whether or not a New York Business Day) next preceding such Interest Payment Date. Any such interest that is payable but is
not so punctually paid or duly provided for shall forthwith cease to be payable to the registered 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 whereof shall be given to Holders of Notes not earlier than 10 days prior to such Special Record Date, or may be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed and upon such notice as may be required by such exchange, if such manner of payment shall be deemed practical by the
Trustee, all as more fully provided in the Indenture. 
 Payment of the principal of and interest on this Note will be made at
the Place of Payment in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts; provided, however, that payments of interest may be made at the option of the Company by checks
mailed to the addresses of the Persons entitled thereto as such addresses shall appear in the Security Register. 

 Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place. Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature under its corporate seal or a facsimile thereof. 
  

							
	Dated:	 		 	BROWN-FORMAN CORPORATION
				
		 		 	By:	 	  

		 		 		 	Authorized Officer
				
		 		 	By:	 	  

		 		 		 	Authorized Officer

  

	
	[seal]
	
	Attest:
	
	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Officer

 REVERSE OF NOTE 

BROWN-FORMAN CORPORATION 
 2.250% NOTE DUE 2023 
 This Note is one of a duly authorized issue of debentures,
notes or other evidences of indebtedness of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of April 2, 2007, as supplemented by the Supplemental
Indenture dated as of December 13, 2010 (as so supplemented, the “Indenture”), between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee”, which term includes any successor
trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee, and the Holders of the Securities, the terms upon
which the Securities are, and are to be, authenticated and delivered, and the definition of capitalized terms used herein and not otherwise defined herein. The Securities may be issued in one or more series, which different series may be issued in
various aggregate principal amounts, may be denominated in different currencies, may mature at different times, may bear interest (if any) at different rates (which rates may be fixed or variable), may be subject to different redemption provisions
(if any), may be subject to different sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of Default, and may otherwise vary as provided in the Indenture. This Note is one of a series of Securities of the
Company designated as set forth on the face hereof (herein called the “Notes”), limited in aggregate principal amount to $250,000,000. 
 The Notes may be redeemed at the Company’s option, upon notice as set forth in the Indenture, in whole or in part prior to October 15, 2022 at a redemption price equal to (A) the greater of
(i) 100% of the principal amount of the Notes to be redeemed on the redemption date or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed on that redemption date
(not including any portion of any payment of interest accrued to the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 12.5 basis points,
as determined by the Reference Treasury Dealer, plus (B) in each case accrued and unpaid interest on the Notes to the redemption date. At any time on or after October 15, 2022, the Notes may be redeemed at the Company’s option, upon
notice as set forth in the Indenture, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed on the redemption date, plus accrued and unpaid interest on the Notes to the redemption date. If the
date fixed for redemption is a date on or after the Record Date and on or before the next following Interest Payment Date, then the interest payable on such date shall be paid to the Holder of record on the relevant Record Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a
maturity comparable to the remaining term of the Notes 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 such Notes. 

 “Comparable Treasury Price” means with respect to any redemption date,
(1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one
of the Reference Treasury Dealers that the Company appoints to act as the Independent Investment Banker from time to time. 

“Reference Treasury Dealer” means each of Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce
Fenner & Smith Incorporated and one additional dealer in United States Treasury Securities selected by the Company (each a “Primary Treasury Dealer”), provided, however, that if any of them ceases to be a Primary Treasury Dealer,
the Company will substitute another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means with
respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (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 semi-annual equivalent yield to
maturity, computed as of the second Business Day immediately preceding that redemption date, 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 that redemption date. 
 In the event of redemption of this Note in part only, a new Note or Notes
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon cancellation hereof. 
 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 Securities of each series under the Indenture at any time by the
Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected by such amendment or modification. The Indenture also contains provisions
permitting the Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of Securities of such 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 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. 

 The Indenture contains provisions setting forth certain conditions to the institution of
proceedings by Holders of Securities with respect to the Indenture or for any remedy under the Indenture. 
 If an Event of
Default with respect to the Notes shall occur and be continuing, the principal amount hereof may be declared due and payable or may be otherwise accelerated in the manner and with the effect provided in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registerable in the Security Register, upon surrender of this Note for registration of
transfer at the office or agency of the Company in any Place of Payment duly endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Notes are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in addition
thereto. As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the
same. 
 No service charge shall be made for any such registration or transfer or exchange, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to the 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 as herein provided
and for all other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Note which are defined in the Indenture and are not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 [PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE] 
 [PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE] 
 the
within Note and all rights thereunder, hereby irrevocably constituting and appointing attorney to transfer such Note on the books of the Company, with full power of substitution in the premises. 

Dated:                      

NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within Note in every particular without alteration
or enlargement or any change whatsoever. 

 ANNEX A-3 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR 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 THE DEPOSITORY TRUST COMPANY, AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF, CEDE & CO.
HAS AN INTEREST HEREIN. 
  

			
	 No. R-1
	  	CUSIP No. 115637 AL4

 BROWN-FORMAN CORPORATION 
 3.750% NOTE DUE 2043 
 BROWN-FORMAN CORPORATION, a corporation duly organized and
existing under the laws of the State of Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of $250,000,000 (TWO HUNDRED AND FIFTY MILLION DOLLARS) on January 15, 2043 and to pay interest on said principal sum semi-annually on January 15 and July 15 of each year,
commencing, July 15, 2013, at the rate of 3.750% per annum from December 12, 2012, or from the most recent date in respect of which interest has been paid or duly provided for, until payment of the principal sum has been made or duly
provided for. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in the 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 the January 1 or July 1 (whether or not a New York Business Day) next preceding such Interest Payment Date. Any such interest that is payable but is
not so punctually paid or duly provided for shall forthwith cease to be payable to the registered 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 whereof shall be given to Holders of Notes not earlier than 10 days prior to such Special Record Date, or may be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed and upon such notice as may be required by such exchange, if such manner of payment shall be deemed practical by the
Trustee, all as more fully provided in the Indenture. 
 Payment of the principal of and interest on this Note will be made at
the Place of Payment in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts; provided, however, that payments of interest may be made at the option of the Company by checks
mailed to the addresses of the Persons entitled thereto as such addresses shall appear in the Security Register. 

 Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place. Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature under its corporate seal or a facsimile thereof. 
 Dated: 

			
	BROWN-FORMAN CORPORATION
		
	By:	 	  

		 	Authorized Officer
		
	By:	 	  

		 	Authorized Officer

  

	
	[seal]
	
	Attest:

  

			
	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	 U.S. BANK NATIONAL ASSOCIATION, as
 Trustee

		
	By:	 	  

		 	Authorized Officer

 REVERSE OF NOTE 

BROWN-FORMAN CORPORATION 
 3.750% NOTE DUE 2043 
 This Note is one of a duly authorized issue of debentures,
notes or other evidences of indebtedness of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of April 2, 2007, as supplemented by the Supplemental
Indenture dated as of December 13, 2010 (as so supplemented, the “Indenture”), between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee”, which term includes any successor
trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee, and the Holders of the Securities, the terms upon
which the Securities are, and are to be, authenticated and delivered, and the definition of capitalized terms used herein and not otherwise defined herein. The Securities may be issued in one or more series, which different series may be issued in
various aggregate principal amounts, may be denominated in different currencies, may mature at different times, may bear interest (if any) at different rates (which rates may be fixed or variable), may be subject to different redemption provisions
(if any), may be subject to different sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of Default, and may otherwise vary as provided in the Indenture. This Note is one of a series of Securities of the
Company designated as set forth on the face hereof (herein called the “Notes”), limited in aggregate principal amount to $250,000,000. 
 The Notes may be redeemed at the Company’s option, upon notice as set forth in the Indenture, in whole or in part prior to July 15, 2042 at a redemption price equal to (A) the greater of
(i) 100% of the principal amount of the Notes to be redeemed on the redemption date or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed on that redemption date
(not including any portion of any payment of interest accrued to the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 15 basis points,
as determined by the Reference Treasury Dealer, plus (B) in each case accrued and unpaid interest on the Notes to the redemption date. At any time on or after July 15, 2042, the Notes may be redeemed at the Company’s option, upon
notice as set forth in the Indenture, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed on the redemption date, plus accrued and unpaid interest on the Notes to the redemption date. If the
date fixed for redemption is a date on or after the Record Date and on or before the next following Interest Payment Date, then the interest payable on such date shall be paid to the Holder of record on the relevant Record Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a
maturity comparable to the remaining term of the Notes 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 such Notes. 

 “Comparable Treasury Price” means with respect to any redemption date,
(1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one
of the Reference Treasury Dealers that the Company appoints to act as the Independent Investment Banker from time to time. 

“Reference Treasury Dealer” means each of Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce
Fenner & Smith Incorporated and one additional dealer in United States Treasury Securities selected by the Company (each a “Primary Treasury Dealer”), provided, however, that if any of them ceases to be a Primary Treasury Dealer,
the Company will substitute another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means with
respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (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 semi-annual equivalent yield to
maturity, computed as of the second Business Day immediately preceding that redemption date, 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 that redemption date. 
 In the event of redemption of this Note in part only, a new Note or Notes
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon cancellation hereof. 
 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 Securities of each series under the Indenture at any time by the
Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected by such amendment or modification. The Indenture also contains provisions
permitting the Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of Securities of such 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 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. 

 The Indenture contains provisions setting forth certain conditions to the institution of
proceedings by Holders of Securities with respect to the Indenture or for any remedy under the Indenture. 
 If an Event of
Default with respect to the Notes shall occur and be continuing, the principal amount hereof may be declared due and payable or may be otherwise accelerated in the manner and with the effect provided in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registerable in the Security Register, upon surrender of this Note for registration of
transfer at the office or agency of the Company in any Place of Payment duly endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Notes are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in addition
thereto. As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the
same. 
 No service charge shall be made for any such registration or transfer or exchange, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to the 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 as herein provided
and for all other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Note which are defined in the Indenture and are not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 [PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE] 
 [PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE] 
 the within Note and all
rights thereunder, hereby irrevocably constituting and appointing attorney to transfer such Note on the books of the Company, with full power of substitution in the premises. 
 Dated:
                                         
                                    

NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within Note in every particular without alteration
or enlargement or any change whatsoever. 

 Exhibit B 
 RESOLUTIONS 
 See attached. 

 MINUTES OF THE PRICING COMMITTEE 

OF THE BOARD OF DIRECTORS OF 
 BROWN-FORMAN CORPORATION 
 NOTES PRICING 

December 10, 2012 
 Members of the Pricing Committee of the Board of Directors of Brown-Forman Corporation, a Delaware corporation (the “Company”), consisting of Donald C. Berg and Gerard J. Anderson (the
“Committee”), held a meeting at approximately 1:45 p.m. EST on December 10, 2012 at which Donald C. Berg served as Executive Vice President and Chief Financial Officer and Gerard J. Anderson served as Senior Vice President Director
Corporate Finance and Treasurer. All participants could hear and be heard by all other participants. Also participating were representatives of Bass, Berry & Sims PLC and Cravath, Swaine & Moore LLP. Also present were
representatives of Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, U.S. Bancorp Investments, Inc., Deutsche Bank Securities Inc., and Wells Fargo Securities, LLC, who described the
marketing efforts for the offering and the basis for the recommendation of an offering size of $750 million and the terms of the Company’s Notes. After due discussion, the Committee unanimously adopted the following resolutions: 

WHEREAS, the Board of Directors of the Company has previously authorized the issuance and sale of up to $850 million of the
Company’s notes and has delegated to the Committee the authority to determine and approve on behalf of the Company (i) the aggregate principal amount of the notes sold in the offering and (ii) the terms and principal amount of the
notes sold in the offering (provided that the maturity date shall not be less than five years and not more than thirty years from the date of a series’ issuance, subject to a maximum effective interest rate of 5.0% per annum). 

NOW, THEREFORE, BE IT RESOLVED, that the terms of the offering (the “Offering”) of $250,000,000 1.000% Notes due 2018
(the “2018 Notes”), $250,000,000 2.250% Notes due 2023 (the “2023 Notes”), and $250,000,000 3.750% Notes due 2043, (the “2043 Notes”, and collectively with the 2018 Notes and the 2023 Notes, the “Notes”), to
be purchased shall be set forth in Exhibit A attached hereto; 
 FURTHER RESOLVED, that (i) the Underwriting
Agreement dated December 10, 2012 among the Company, Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, U.S. Bancorp Investments, Inc., Deutsche Bank Securities Inc., and Wells
Fargo Securities, LLC, and other underwriters named therein (collectively, the “Underwriters”) relating to the Offering, (ii) officers’ certificate (the “Officers Certificate”) between the Company and U.S. Bank National
Association, as trustee, pursuant to an indenture (the “base indenture”), dated April 2, 2007, between the Company and U.S. Bank National Association, as trustee, as supplemented by a supplemental indenture dated as of
December 13, 2010 (together with the base indenture, the “indenture”) to be prepared consistent with the “Description of Notes” set forth in the prospectus supplement dated December 10, 2012 (collectively, the
“Indenture”), and (iii) the forms of the 

 
certificates evidencing each series of the Notes to be attached as an exhibit to the Officer’s Certificate be, and the same hereby are, approved in all respects and the officers of the
Company be, and each of them hereby is, authorized and directed, in the name and on behalf of the Company, to execute and deliver each of the foregoing in substantially the form approved by this Committee, with such changes therein as the officer
executing the same approves, such approval to be conclusively evidenced by such execution, and, if any such document shall require a countersignature or attestation, or that the Company’s corporate seal be affixed thereto, the officers of the
Company be, and each of them hereby is, authorized to attest, countersign and affix the corporate seal (or a facsimile thereof) to any such instrument, agreement or documents, it being understood that any signature or corporate seal appearing on the
form of certificates evidencing the Notes may be a facsimile signature or seal; 
 FURTHER RESOLVED, that the officers of
the Company are, and each of them hereby is, authorized and empowered take all such further action, and to execute, deliver, and file all such further instruments, agreements and documents, in the name and on behalf of the Company or otherwise, and
to pay all fees and expenses, as any of them shall approve in connection with the matters contemplated by the foregoing resolutions, such approval to be conclusively evidenced by the taking of such action, the execution of such instruments or
agreements or such payment, as case may be; and 
 FURTHER RESOLVED, that the Committee hereby ratifies, confirms, and
approves all actions heretofore taken by or on behalf of the Company in connection with, or otherwise reflected in, the foregoing resolutions and any and all matters related thereto. 

There being no further business to come before the meeting, upon motion duly made and seconded, the meeting was adjourned. 

Dated: December 12, 2012 
  

			
	 /s/ Donald C. Berg

	Name:	 	Donald C. Berg
	Title:	 	Executive Vice President and Chief Financial Officer
	
	 /s/ Gerard J. Anderson

	Name:	 	Gerard J. Anderson
	Title:	 	Senior Vice President Director Corporate Finance and Treasurer

 EXHIBIT A 
 See attached. 

 $250,000,000 
 Brown-Forman Corporation 
 5-Year Fixed Rate Senior Unsecured Notes 

FORM OF TERM SHEET 

 

			
	Issuer:	  	Brown-Forman Corporation
	Principal Amount:	  	$250,000,000
	Coupon:	  	1.000%
	Maturity:	  	January 15, 2018
	Public Offering Price:	  	99.669%
	Yield to Maturity:	  	1.067%
	Benchmark Treasury:	  	0.625% due 11/30/2017
	Spread to Benchmark Treasury:	  	T + 45 basis points
	Benchmark Treasury Price / Yield:	  	100-011/4 / 0.617%
	Interest Payment Dates:	  	The 15th day of each January and July
	First Coupon:	  	July 15, 2013
	Settlement:	  	T+ 2 (December 12, 2012)
	Optional Redemption:	  	Make-Whole Call + 10 basis points
	CUSIP/ISIN:	  	115637 AN0/ US115637AN00
	Joint Book-Running Managers:	  	 Barclays Capital Inc.

Citigroup Global Markets Inc.
 Merrill Lynch,
Pierce, Fenner & Smith

                     Incorporated

U.S. Bancorp Investments, Inc.
 Deutsche Bank
Securities Inc.
 Wells Fargo Securities, LLC

	Co-Managers:	  	 PNC Capital Markets LLC

Loop Capital Markets LLC
 Mitsubishi UFJ
Securities (USA), Inc.
 Rabo Securities USA, Inc.
 Scotia Capital (USA) Inc.

 The issuer has filed a registration statement (including a prospectus) with the Securities and
Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the Securities and Exchange Commission for more
complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at 1-888-603-5847, Citigroup Global Markets Inc. toll-free at 1-800-831-9146 or Merrill Lynch, Pierce,
Fenner & Smith Incorporated toll-free at 1-800-294-1322. 

  

 $250,000,000 
 Brown-Forman Corporation 
 10-Year Fixed Rate Senior Unsecured Notes 

FORM OF TERM SHEET 

 

			
	Issuer:	  	Brown-Forman Corporation
	Principal Amount:	  	$250,000,000
	Coupon:	  	2.250%
	Maturity:	  	January 15, 2023
	Public Offering Price:	  	99.345%
	Yield to Maturity:	  	2.323%
	Benchmark Treasury:	  	1.625% due 11/15/2022
	Spread to Benchmark Treasury:	  	T + 70 basis points
	Benchmark Treasury Price / Yield:	  	100-00+ / 1.623%
	Interest Payment Dates:	  	The 15th day of each January and July
	First Coupon:	  	July 15, 2013
	Settlement:	  	T+2 (December 12, 2012)
	Optional Redemption:	  	 Prior to October 15, 2022, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the
notes being redeemed or (ii) the discounted present value of the notes being redeemed at the Treasury Rate plus 12.5 basis points.
  

On or after October 15, 2022, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes redeemed.

	CUSIP/ISIN:	  	115637 AM2/ US115637AM27
	Joint Book-Running Managers:	  	 Barclays Capital Inc.

Citigroup Global Markets Inc.
 Merrill Lynch,
Pierce, Fenner & Smith

                     Incorporated

U.S. Bancorp Investments, Inc.
 Deutsche Bank
Securities Inc.
 Wells Fargo Securities, LLC

	Co-Managers:	  	 PNC Capital Markets LLC

Loop Capital Markets LLC
 Mitsubishi UFJ
Securities (USA), Inc.
 Rabo Securities USA, Inc.
 Scotia Capital (USA) Inc.

 The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for
the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the Securities and Exchange

  

 
Commission for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission’s website at
www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at 1-888-603-5847, Citigroup Global
Markets Inc. toll-free at 1-800-831-9146 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322. 

  

 $250,000,000 
 Brown-Forman Corporation 
 30-Year Fixed Rate Senior Unsecured Notes 

FORM OF TERM SHEET 

 

			
	Issuer:	  	Brown-Forman Corporation
	Principal Amount:	  	$250,000,000
	Coupon:	  	3.750%
	Maturity:	  	January 15, 2043
	Public Offering Price:	  	99.978%
	Yield to Maturity:	  	3.751%
	Benchmark Treasury:	  	2.750% due 8/15/2042
	Spread to Benchmark Treasury:	  	T + 95 basis points
	Benchmark Treasury Price / Yield:	  	98-31 / 2.801%
	Interest Payment Dates:	  	January 15 and July 15
	First Coupon:	  	July 15, 2013
	Settlement:	  	T+2 (December 12, 2012)
	Optional Redemption:	  	 Prior to July 15, 2042, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the
notes being redeemed or (ii) the discounted present value of the notes being redeemed at the Treasury Rate plus 15 basis points.
  

On or after July 15, 2042, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes redeemed.

	CUSIP/ISIN:	  	115637 AL4/ US115637AL44
	Joint Book-Running Managers:	  	 Barclays Capital Inc.

Citigroup Global Markets Inc.
 Merrill Lynch,
Pierce, Fenner & Smith

                     Incorporated

U.S. Bancorp Investments, Inc.
 Deutsche Bank
Securities Inc.
 Wells Fargo Securities, LLC

	Co-Managers:	  	 PNC Capital Markets LLC

Loop Capital Markets LLC
 Mitsubishi UFJ
Securities (USA), Inc.
 Rabo Securities USA, Inc.
 Scotia Capital (USA) Inc.

 The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for
the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the Securities and Exchange

  

 
Commission for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission’s website at
www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at 1-888-603-5847, Citigroup Global
Markets Inc. toll-free at 1-800-831-9146 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.

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