JC Cellars: A California Winery Producing a Variety of Wines Tiburon Research April 4, 2019

JC Cellars Comments 2 Founded in XXXX Based in XXXX Web Site: www.jccellars.com Source: 4/15/07 JC Cellars Web Site; 3/5/01 Forbes; Tiburon Research & Analysis 2

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

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

JC Cellars is Not a Frequent Advertiser Comments -- Source: Tiburon Research & Analysis 5

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

JC Cellars is Not a Frequent Acquirer Comments -- Source: Tiburon Research & Analysis 7

JC Cellars Has a Charitable Giving Program Comments -- Source: Tiburon Research & Analysis 8

JC Cellars Has Employees Source: Tiburon Research & Analysis 9

JC Cellars Has Planted Acres Source: Tiburon Research & Analysis 10

JC Cellars Produces Tons of Grapes Source: Tiburon Research & Analysis 11

JC Cellars Produces Gallons of Wine Source: Tiburon Research & Analysis 12

JC Cellars Produces Cases Cases Produced Source: Tiburon Research & Analysis 13

JC Cellars Generates Revenues ($ Millions) Source: Tiburon Research & Analysis 14

JC Cellars Earns $___ Million Net Profits ($ Millions) Source: Tiburon Research & Analysis 15

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

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

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

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

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

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

JC Cellars Assets ($ Millions) JC Cellars Has Assets JC Cellars Assets ($ Millions) Source: Tiburon Research & Analysis 22 22 22

JC Cellars Has Liabilities ($ Millions) Source: Tiburon Research & Analysis 23 23 23

JC Cellars Has Shareholders’ Equity ($ Millions) Source: Tiburon Research & Analysis 24 24 24

JC Cellars Earns … Per Share Earnings Per Share Source: Tiburon Research & Analysis 25 25 25

JC Cellars Declares … Dividends Per Share Source: Tiburon Research & Analysis 26 26 26

JC Cellars Has a … Dividend Yield Source: Tiburon Research & Analysis 27 27 27

JC Cellars’s Stock Price is … Source: Tiburon Research & Analysis 28 28 28

JC Cellars Has … Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

JC Cellars’s Market Capitalization is … ($ Millions) Source: Tiburon Research & Analysis 30 30 30

JC Cellars Ownership By Owner JC Cellars is Owned by …. JC Cellars Ownership By Owner Source: Tiburon Research & Analysis 31 31 31

JC Cellars’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