CONSTELLATION BRANDS, INC. — Director's Dealing 2016

May 16, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2016-05-12

Reporting Person: A&Z 2015 BUSINESS HOLDINGS LP (10% Owner)
Reporting Person: A&Z 2015 BUSINESS MANAGEMENT LLC (Member of 10% owner group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-12	Class A Common Stock	J	667368.0000	—	Disposed	1252052.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-12	Class B (convertible) Common Stock	$	J	667368.0000	Acquired		Class A Common Stock (667368.0000)	Direct

Footnotes

F1: On May 12, 2016, A&Z 2015 Business Holdings LP ("A&Z Holdings") exchanged, on a one-for-one basis, shares of Class A Common Stock for shares of Class B Common Stock with an affiliated general partnership.

F2: This report is filed jointly by A&Z Holdings and A&Z 2015 Business Management LLC ("A&Z Management"). The reported securities are owned directly by A&Z Holdings. A&Z Management is the general partner of, and owns a .025% interest in, A&Z Holdings. Abigail Bennett and Zachary Stern are the members of A&Z Management and indirectly hold limited partner interests of A&Z Holdings.

F3: Shares of Class B Common Stock are convertible into shares of Class A Common Stock of the Issuer on a one-to-one basis at any time at the option of the holder. The ticker symbol for Class B Common Stock is STZ.B.