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Stock Spirits Group uses alternative profit measures as key financial indicators to assess underlying performance of the Group. These include Adjusted EBITDA, Adjusted free cashflow and Adjusted basic EPS. For the proforma comparative numbers see page 59. The narrative in the Annual Report and Accounts includes these alternative measures and an explanation is set out in note 7 of the Financial Statements on page 143

Leverage is the net debt divided by the Adjusted EBITDA for the period. For 2018 this is the net debt as per note 30 (page 167) of the Notes to the Financial Statements as at 30 September 2018, divided by the proforma 12 months Adjusted EBITDA for the 12 months to 30 September 2018 as per page 63


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