Freestone Vineyards: A California Winery Producing a Variety of Wines Tiburon Research March 23, 2019

Freestone Vineyards Comments 2 Founded in 1999 Founded by Joe & Bill Phelps Based in Freestone, CA Web site: www.freestonevineyards.com Source: 4/10/09 Freestone Web Site; Tiburon Research & Analysis 2

Freestone Vineyards Founded Freestone Vineyards Today Freestone Vineyards was Founded in 1999 and Has Subsequently Evolved through its Early, Middle, & Recent Phases Freestone Vineyards History Freestone Vineyards Founded Freestone Vineyards Today Development Phase Winery Building Phase Recent Phase Approximate Dates: 1999 2000 - 2004 2005 - 2007 2008 - 2019 2019 Key Steps: 1999: Freestone Vineyards founded 1999: Planted100 acres XXXX: -- 2005: Broke ground on winery building 2007: Completed winery building construction XXXX: - Source: 4/10/09 Freestone Web Site; Tiburon Research & Analysis 3

Freestone Vineyards was Founded in 1999 Comments Founded in 1999 Founded by Joe & Bill Phelps Based in Freestone, CA Source: 4/10/09 Freestone Web Site; Tiburon Research & Analysis 4

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

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

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

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

Freestone Vineyards Has Employees Source: Tiburon Research & Analysis 9

Freestone Vineyards Has Planted Acres Source: Tiburon Research & Analysis 10

Freestone Vineyards Produces Tons of Grapes Source: Tiburon Research & Analysis 11

Freestone Vineyards Produces Gallons of Wine Source: Tiburon Research & Analysis 12

Freestone Vineyards Produces Cases Cases Produced Source: Tiburon Research & Analysis 13

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Freestone Vineyards Has … Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

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

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

Freestone Vineyards’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