TRULY HARD SELTZER TO REFRESH PORTFOLIO IN TIME FOR PEAK SELTZER SEASON

New packaging, new ad campaign and clearer messaging begin rolling out this spring

BOSTON, MA Feb. 15, 2023 Since 2016, Truly Hard Seltzer has been rightfully credited as one of the brands to fuel the hard seltzer boom, bringing drinkers a refreshing, easy-drinking, variety-filled, and fun experience. ­This spring, Boston Beer Company will refresh the brand to sustain consumer interest in hard seltzer as it works to grow Truly’s share and increase its number two position within a crowded category.

Changes include:

Making Truly easier to find and shop

• More clearly communicating a more refreshing taste profile with the addition of real fruit juice
• Refining limited-release strategy and going where beer cannot
• Relaunching and expanding Truly Vodka Seltzer as Truly Vodka Soda
• Kicking off the U.S. Soccer partnership

"Truly helped establish hard seltzer as we know it today, but we recognize the segment is evolving for the drinker of tomorrow," said Boston Beer Company CEO Dave Burwick. "As hard seltzer enters the post-hype era, we are strategically investing in new marketing and packaging to keep Truly top of mind and remind drinkers why they came to the category in the first place."

Making Truly easy to find, shop, and sip

Last fall, Truly introduced a sweeping product optimization that added real fruit juice to its entire portfolio. Truly has more flavors made with real fruit juice – 30 – than any other hard seltzer on the market, and while consumer preference for real fruit juice is high, consumer awareness of real fruit juice in Truly remains low.

In the first quarter of 2023, Truly will conduct extensive consumer sampling and run media describing it as "Our Best Taste Ever." The brand is also redesigning its packaging to make the portfolio easier to find for drinkers with a more visually consistent look and clearer communication that it is now more refreshing and made with real fruit juice from concentrate.

• Packs will include bold "now more refreshing" and "made with real fruit juice" callouts
• Packs will be clearly identified as "lightly flavored" or "bolder flavor" to better set taste expectations across hint-of-flavor (Berry, Citrus, and Tropical) and full-flavor (Lemonade, Margarita-Style, and Punch) styles
• Bolder flavor mix packs will more seamlessly integrate into a strong brand block at retail, now featuring pops of color against a larger white background to cue refreshment

"We’re ready to shout from the rooftops that Truly is more refreshing and now made with real fruit juice," said Truly Hard Seltzer Director of Marketing, Matt Withington. "We made these changes with the drinker in mind. The refreshed Truly is more shoppable and sessionable, and its new look pairs well with an even easier-drinking Truly."

Keeping things fresh with trimester limited-release packs

As a leader in innovation, Truly is known for keeping things fresh. Following three straight years of introducing bold, novel flavors, the brand will shift focus back to its lightly flavored core and introduce rotating trimester seasonals that are lightly flavored and made with real fruit juice from concentrate.

Following the success of Truly’s second holiday cocktail-inspired mix pack and 2022’s Poolside mix pack, Truly will launch limited-release packs each trimester in 2023. "Wonderworld," available now, features three delightfully mysterious flavor mashups and Truly’s first-ever mystery flavor, "Wonder What…?" This summer, "Red, White & Tru" will bring a refreshing twist on summer spirit and provide a great in-store merchandising vehicle. A third limited-release pack will follow later in the year.

The limited-release packs will replace Truly Iced Tea, which was discontinued in the first half of 2023, to simplify the portfolio for wholesalers and retailers and create more excitement without the burden of adding new, permanent SKUs.

Relaunching Truly Vodka Seltzer as Truly Vodka Soda

Following the introduction of Truly’s first spirits-based seltzer last fall, Truly is rebranding its six-times-distilled premium vodka beverage as Truly Vodka Soda with a refreshing new look. Alongside the new, bar-call-inspired name comes light and colorful new packaging plus two all-new collections of single-fruit flavors providing the wide variety drinkers are looking for.

The new Truly Vodka Soda lineup includes:

New Truly Vodka Soda Classic

New Truly Vodka Soda Paradise

Truly Vodka Soda Twist of Flavor

•  Mango

•  Mango

•  Blackberry & Lemon

•  Lime

•  Watermelon

•  Cherry & Lime

•  Pineapple

•  Passion Fruit

•  Pineapple & Cranberry

•  Blueberry

•  Blood Orange

•  Peach & Tangerine

In addition to the industry-standard 8-pack, Truly Vodka Soda Twist of Flavor will be available in a new 12-pack starting this April. Truly also will introduce new, single-serve 24-ounce resealable cans for the first time.

Kicking off the U.S. Soccer partnership

As the beverage of the next generation, Truly will emphasize that the brand values inclusivity and connection through authentic partnerships. As the Official Hard Seltzer of U.S. Soccer, Truly will kick off its partnership ahead of the summer’s biggest global matches with a focus on making meaningful connections between fans and players on and off the pitch. U.S. Soccer marks will adorn Truly Hard Seltzer Berry packs and point-of-sale materials, giving drinkers the opportunity to show their pride while cheering on the U.S. Women’s National Team.

"The road to return Truly to growth in 2023 is paved with learning from 2022 and a drinker-first strategy," said Burwick. "With the right tools in place, we’re confident in a Truly turnaround and share gains in the back half of the year."

About Truly
An original hard seltzer, Truly has paved the way for an entire category since 2016 as the most innovative beyond beer experience. The brand continues to keep its finger on the tab of what drinkers want: a great-tasting, sessionable alcoholic beverage without the fuss. Truly believes life can be more refreshing when we can be real, let loose, embrace imperfection, and allow ourselves to be free from convention. That’s why Truly has something for everyone in more than 30 unique flavors including three lightly flavored mix packs (Berry, Citrus, and Tropical), three bolder flavored mix packs (Lemonade, Margarita-Style, and Punch), plus even more ways to enjoy Truly including Truly Extra and Truly Lemonade Freeze Pops. In 2022, Truly introduced Truly Flavored Vodka and its first spirits-based seltzer, Truly Vodka Soda. To learn more, visit trulyhardseltzer.com, follow Truly on social media, or experience Truly for yourself at the home of innovation in Downtown Los Angeles at Truly L.A.

About Boston Beer Company
The Boston Beer Company, Inc. (NYSE: SAM) began in 1984 brewing Samuel Adams beer and the Samuel Adams brand is currently recognized as one of the largest and most respected craft beer brands. Our portfolio of brands also includes Truly Hard Seltzer, Twisted Tea, Angry Orchard Hard Cider, Dogfish Head Brewery, Hard Mountain Dew and Sauza Agave Cocktails as well as other craft beer brands such as Angel City Brewery and Coney Island Brewing. For more information, please visit our investor relations website at www.bostonbeer.com, which includes links to all of our respective brand websites.