Deux Armis: A California Winery Producing a Variety of Wines Tiburon Research March 7, 2019

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

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

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

Deux Armis is Not a Frequent Advertiser Comments -- Source: Tiburon Research & Analysis 5

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

Deux Armis is Not a Frequent Acquirer Comments -- Source: Tiburon Research & Analysis 7

Deux Armis Has a Charitable Giving Program Comments -- Source: Tiburon Research & Analysis 8

Deux Armis Has Employees Source: Tiburon Research & Analysis 9

Deux Armis Has Planted Acres Source: Tiburon Research & Analysis 10

Deux Armis Produces Tons of Grapes Source: Tiburon Research & Analysis 11

Deux Armis Produces Gallons of Wine Source: Tiburon Research & Analysis 12

Deux Armis Produces Cases Cases Produced Source: Tiburon Research & Analysis 13

Deux Armis Generates Revenues ($ Millions) Source: Tiburon Research & Analysis 14

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

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

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

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

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

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

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

Deux Armis Assets ($ Millions) Deux Armis Has Assets Deux Armis Assets ($ Millions) Source: Tiburon Research & Analysis 22 22 22

Deux Armis Has Liabilities ($ Millions) Source: Tiburon Research & Analysis 23 23 23

Deux Armis Has Shareholders’ Equity ($ Millions) Source: Tiburon Research & Analysis 24 24 24

Deux Armis Earns … Per Share Earnings Per Share Source: Tiburon Research & Analysis 25 25 25

Deux Armis Declares … Dividends Per Share Source: Tiburon Research & Analysis 26 26 26

Deux Armis Has a … Dividend Yield Source: Tiburon Research & Analysis 27 27 27

Deux Armis’s Stock Price is … Source: Tiburon Research & Analysis 28 28 28

Deux Armis Has … Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

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

Deux Armis Ownership By Owner Deux Armis is Owned by …. Deux Armis Ownership By Owner Source: Tiburon Research & Analysis 31 31 31

Deux Armis’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