Clos Du Val: A California Winery Producing a Variety of Wines Tiburon Research March 4, 2019

Clos Du Val Comments 2 Founded in XXXX Based in XXXX Source: Tiburon Research & Analysis 2

Clos Du Val was Founded in XXXX and Has Subsequently Evolved through its Early, Middle, & Recent Phases Clos Du Val History Clos Du Val Founded Clos Du Val Today Early Phase Middle Phase Recent Phase Approximate Dates: XXXX XXXX - XXXX XXXX - XXXX XXXX - 2019 2019 Key Steps: XXXX: Clos Du Val founded XXXX: -- XXXX: -- XXXX: -- Source: Tiburon Research & Analysis 3

Clos Du Val was Founded in XXXX Comments Founded in XXXX Based in XXXX Source: Tiburon Research & Analysis 4

Clos Du Val is Not a Frequent Advertiser Comments -- Source: Tiburon Research & Analysis 5

Clos Du Val Has a Web Site with XXXX Core Sections, Including __ -- -- -- -- - -- Source: Tiburon Research & Analysis 6

Clos Du Val is Not a Frequent Acquirer Comments -- Source: Tiburon Research & Analysis 7

Clos Du Val Has a Charitable Giving Program Comments -- Source: Tiburon Research & Analysis 8

Clos Du Val Has Employees Source: Tiburon Research & Analysis 9

Clos Du Val Has Planted Acres Source: Tiburon Research & Analysis 10

Clos Du Val Produces Tons of Grapes Source: Tiburon Research & Analysis 11

Clos Du Val Produces Gallons of Wine Source: Tiburon Research & Analysis 12

Clos Du Val Produces Cases Cases Produced Source: Tiburon Research & Analysis 13

Clos Du Val Generates Revenues ($ Millions) Source: Tiburon Research & Analysis 14

Clos Du Val Earns $___ Million Net Profits ($ Millions) Source: Tiburon Research & Analysis 15

Clos Du Val Produces a Number of Varietals, Including… -- -- -- -- -- Source: Tiburon Research & Analysis 16

Clos Du Val’s First Varietal is ___ Comments -- Source: Tiburon Research & Analysis 17

Clos Du Val’s Second Varietal is ___ Comments -- Source: Tiburon Research & Analysis 18

Clos Du Val is Led by its CEO… Organizational Chart -- -- -- -- -- -- Source: Tiburon Research & Analysis 19

Clos Du Val Has a Board of Directors Led by its Chairman… -- -- -- -- -- -- -- -- -- -- Source: Tiburon Research & Analysis

Clos Du Val is Privately Owned Comments -- Source: Tiburon Research & Analysis 21

Clos Du Val Assets ($ Millions) Clos Du Val Has Assets Clos Du Val Assets ($ Millions) Source: Tiburon Research & Analysis 22 22 22

Clos Du Val Has Liabilities ($ Millions) Source: Tiburon Research & Analysis 23 23 23

Clos Du Val Has Shareholders’ Equity ($ Millions) Source: Tiburon Research & Analysis 24 24 24

Clos Du Val Earns … Per Share Earnings Per Share Source: Tiburon Research & Analysis 25 25 25

Clos Du Val Declares … Dividends Per Share Source: Tiburon Research & Analysis 26 26 26

Clos Du Val Has a … Dividend Yield Source: Tiburon Research & Analysis 27 27 27

Clos Du Val’s Stock Price is … Source: Tiburon Research & Analysis 28 28 28

Clos Du Val Has … Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

Clos Du Val’s Market Capitalization is … ($ Millions) Source: Tiburon Research & Analysis 30 30 30

Clos Du Val Ownership By Owner Clos Du Val is Owned by …. Clos Du Val Ownership By Owner Source: Tiburon Research & Analysis 31 31 31

Clos Du Val’s Stock Volume is…. Source: Tiburon Research & Analysis 32 32 32

Tiburon Strategic Advisors Comments Focus on corporate-level strategy Serve senior executives only at financial services companies Key services: market seminars, market research, & strategy consulting Served over 450 corporate clients and completed over 2,200 projects since 1998 Host semi-annual CEO Summits, offer free weekly research releases, and offer free business benchmarking tools for all types of advisors Chip Roame background McKinsey & Company Charles Schwab & Company Tiburon since 1998 Source: Tiburon Research & Analysis 33 33