Esporao: A Winery Producing a Variety of Wines Tiburon Research December 16, 2018

Esporao Comments 2 Founded in XXXX Based in XXXX Source: Tiburon Research & Analysis 2

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

Esporao was Founded in XXXX Comments Founded in XXXX Based in XXXX Source: Tiburon Research & Analysis 4

Esporao is Not a Frequent Advertiser Advertising Comments -- Source: Tiburon Research & Analysis 5

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

Esporao Has a Charitable Giving Program Comments -- Source: Tiburon Research & Analysis 7

Esporao is Not a Frequent Acquirer Acquisitions Comments -- Source: Tiburon Research & Analysis 8

Esporao Has Employees Esporao Employees 9 Needs data Source: Tiburon Research & Analysis 9

Esporao Has Planted Acres Needs data Esporao Planted Acres Source: Tiburon Research & Analysis 10

Esporao Produces Tons of Grapes Needs data Esporao Tons of Grapes Source: Tiburon Research & Analysis 11

Esporao Produces Gallons of Wine Needs data Esporao Gallons of Wine Source: Tiburon Research & Analysis 12

Esporao Produces Cases Needs data Esporao Cases Produced Source: Tiburon Research & Analysis 13

Esporao Generates Revenues Needs data Esporao Revenues ($ Millions) Source: Tiburon Research & Analysis 14

Esporao Earns $___ Million Needs data Esporao Net Profits ($ Millions) Source: Tiburon Research & Analysis 15

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

Esporao’s First Varietal is ___ Comments -- Source: Tiburon Research & Analysis 17

Esporao’s Second Varietal is ___ Comments -- Source: Tiburon Research & Analysis 18

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

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

Esporao is Privately Owned Comments -- Source: Tiburon Research & Analysis 21

Esporao Assets ($ Millions) Esporao Has Assets Needs data Esporao Assets ($ Millions) Source: Tiburon Research & Analysis 22 22 22

Esporao Has Liabilities Needs data Esporao Liabilities ($ Millions) Source: Tiburon Research & Analysis 23 23 23

Esporao Has Shareholders’ Equity Needs data Esporao Shareholders Equity ($ Millions) Source: Tiburon Research & Analysis 24 24 24

Esporao Earns … Per Share Needs data Esporao Earnings Per Share Source: Tiburon Research & Analysis 25 25 25

Esporao Declares … Dividends Per Share Needs data Esporao Dividends Per Share Source: Tiburon Research & Analysis 26 26 26

Esporao Has a … Dividend Yield Needs data Esporao Dividend Yield Source: Tiburon Research & Analysis 27 27 27

Esporao’s Stock Price is … Needs data Esporao Stock Price Source: Tiburon Research & Analysis 28 28 28

Esporao Has … Shares Outstanding Needs data Esporao Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

Esporao’s Market Capitalization is … Needs data Esporao Market Capitalization ($ Millions) Source: Tiburon Research & Analysis 30 30 30

Esporao Ownership By Owner Esporao is Owned by …. Needs real data Esporao Ownership By Owner Source: Tiburon Research & Analysis 31 31 31

Esporao’s Stock Volume is…. Needs data Esporao Stock Volume 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