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Brown-Forman Statement

05/24/17

LOUISVILLE, Ky.--(BUSINESS WIRE)--May 24, 2017--
Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) today issued the
following statement from Geo. Garvin Brown IV, Chairman of the Board of
Directors, and Paul C. Varga, Chief Executive Officer: “As a matter of
corporate policy, Brown-Forman does not comment on market rumors or
speculation. However, it is important to reiterate that Brown-Forman is
not for sale. For nearly 150 years, the Company and the Brown family
have been committed to preserving Brown-Forman as a thriving, family
controlled, independent company. That commitment is unchanged, and our
goal is to continue creating value for all shareholders for generations
to come.”

This press release contains statements, estimates, and projections that
are “forward-looking statements” as defined under U.S. federal
securities laws. Words such as “aim,” “anticipate,” “aspire,” “believe,”
“continue,” “could,” “envision,” “estimate,” “expect,” “expectation,”
“intend,” “may,” “plan,” “potential,” “project,” “pursue,” “see,”
“seek,” “should,” “will,” and similar words identify forward-looking
statements, which speak only as of the date we make them. Except as
required by law, we do not intend to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. By their nature, forward-looking statements
involve risks, uncertainties and other factors (many beyond our control)
that could cause our actual results to differ materially from our
historical experience or from our current expectations or projections.
These risks and uncertainties include, but are not limited to:

Risks associated with being a U.S.-based company with global
operations, including commercial, political and financial risks; local
labor policies and conditions; protectionist trade policies or
economic or trade sanctions; compliance with local trade practices and
other regulations, including anti-corruption laws; terrorism; and
health pandemics