Hanzell: A California Winery Producing a Variety of Wines Tiburon Research March 28, 2019

Hanzell Comments 2 Founded in XXXX Based in Sonoma, CA Web site: www.hanzell.com Source: 12/9/11 Hanzell Web Site; Tiburon Research & Analysis 2

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

Hanzell was Founded in XXXX Comments Founded in XXXX Based in Sonoma, CA Source: 12/9/11 Hanzell Web Site; Tiburon Research & Analysis 4

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

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

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

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

Hanzell Has Employees Hanzell Employees 9 Source: Tiburon Research & Analysis 9

Hanzell Has Planted Acres Source: Tiburon Research & Analysis 10

Hanzell Produces Tons of Grapes Source: Tiburon Research & Analysis 11

Hanzell Produces Gallons of Wine Source: Tiburon Research & Analysis 12

Hanzell Produces Cases Cases Produced Source: Tiburon Research & Analysis 13

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Hanzell Has … Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

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

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

Hanzell’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