1. Vines of Mendoza San Francisco September 2013 Nora Z. Favelukes

2. Wine Consumption Adults per Capita / Population Source: Census Bureau – Wine Information Group For the 19 th year in a row wine sales have continued to grow in the US market, at a rate of 2.9% in 2012

3. 2012: 228 Million Adults (millions by segment) Source: Wine Market Council 2012

4. Consumers: Core vs. Marginal 1994 - 2012 (Percentage by segment) Source: Wine Market Council 2012

5. Core Wine Drinkers by Generation, 2012 (Percent by generation) Source: Wine Market Council 2012 Older Millennials 19% Younger Millennials 9%

6. Consumers by Gender ( Percentage ) Source: Wine Market Council 2012

7. Wine Shipments by Volume 9 L Cases January / July – 2012/2013 Source: U.S. Department of Commerce, Gomberg, Fredrikson & Associates

8. Imported Wine Shipments by Value January/July - 2012/2013 Source: U.S. Department of Commerce, Gomberg, Fredrikson & Associates

9. Bulk Wine Exports to the U.S.

10. Nielsen Report FDL (Food, Drug & Liquorstores) Argentine Wine Sales: 4 Weeks period ending on August 17, 2013: Volume +7.5% Dollars + 10.2% % 52 weeks ending on August 17, 2013 Volume 6.3% Dollars 12.6% Retail wine numbers are strong at $13.3 billion in 2012 (Nielsen) Source: Nielsen Report FDL (Food, Drug & Liquorstores) August 2013

11. Malbec Wine Sales: 4 Weeks period ending on August 17, 2013: Volume +12.1% Dollars + 11.5% 52 weeks ending on August 17, 2013 Volume 13% Dollars 12.7% Nielsen Report FDL (Food, Drug & Liquorstores) Source: Nielsen Report FDL (Food, Drug & Liquorstores) August 2013

12. Country Value in DollarsShipment in Cases 20122013 Change % 20122013 Change % Italy $ 43,517.00 $ 57,353.0032%293.1406.339% Argentina $ 38,606.00 $ 44,180.0014%610.3691.913% France $ 31,576.00 $ 42,654.0035%212.2263.224% Spain $ 25,089.00 $ 31,334.0025%395.148623% Australia $ 32,693.00 $ 29,522.00-10%411.8336.2-18% Portugal $ 20,917.00 $ 23,185.0011%217.62358% Chile $ 9,000.00 $ 10,895.0021%118.3138.817% U.S. Imports: Bottled Dessert and Table Wines Over 14% 2012 -2013 Source: U.S. Department of Commerce, Gomberg, Fredrikson & Associates

13. Source: Top Varietals Exported to US 2012-2013 – Vinos de Argentina Top 15 Varietals Exported to the U.S August 2012-2013 Varietal US$ FOB9 Liter Cases US$ FOB Per Case Malbec $ 188,629,7314,817,697 $ 39.15 Cabernet Sauvignon $ 24,046,544588,113 $ 40.89 Generic Reds $ 20,659,091397,255 $ 52.00 Chardonnay $ 7,473,152212,382 $ 35.19 Torrontes $ 6,761,368186,919 $ 36.17 Generic Whites $ 3,184,167129,753 $ 24.54 Pinot Noir $ 2,710,94055,250 $ 49.07 Pinot Gris $ 1,809,59155,969 $ 32.33 Syrah $ 1,776,80080,370 $ 22.11 Merlot $ 1,585,00342,145 $ 37.61 Sauvignon Blanc $ 1,387,08045,648 $ 30.39 Bonarda $ 1,344,67038,713 $ 34.73 Cabernet Sauvignon - Malbec $ 1,163,02121,797 $ 53.36 Rose Malbec $ 1,064,97529,293 $ 36.36 Tempranillo $ 1,026,34039,633 $ 25.90

14. Imported Table Wine Shipments % Change by Color YTD to June, 2013 Source: U.S. Department of Commerce, Gomberg, Fredrikson & Associates

15. Malbec  Millennial generation wine of choice  It gave Argentina a unique identity in the world  Critical success factors for sommeliers: competitive pricing and delivering taste/quality  Sold at all price levels:  Retail mostly in the $ 8 - $30 a bottle range  Restaurant mostly in the $30 -$100 a bottle range. Source: Bordeaux Management School – BEM – France

16. YEARUS$ FOBCHANGE SHARE OVER TOTAL 9 LITERS CASES CHANGE SHARE OVER TOTAL 200414,714,189///35.1%477,569///25.5% 200521,038,55643.0%36.7%626,57231.2%27.8% 200633,144,82257.5%43.8%901,64543.9%34.9% 200749,800,53950.3%48.9%1,314,01145.7%40.3% 200879,999,90860.6%54.6%2,114,94561.0%47.8% 2009112,489,26840.6%59.3%3,159,34049.4%54.3% 2010147,173,58830.8%65.1%4,164,90931.8%59.9% 2011173,204,44817.7%67.3%4,581,44510.0%64.7% 2012187,919,8088.5%68.7%4,713,094 2.8%67.3% Argentine Malbec Exports to the US: 2004 - 2012 Source: Argentina Exports Statistics from Wines of Argentina

17. Argentine Malbec Exports to the US: 2004 - 2012

18. Bottled Wine Exports to U.S. Price Segments 2012-2013 Source: CAUCASIA Wine Thinking Price Segment US$ FOB VOLUME (9 LITER CASES) 20122013 Change % 20122013 Change % SEG 1 - Px ≤ US$ 1814,860,1499,174,706-38.30%986,285601,962-39.00% SEG 2 - US$ 18 < Px ≤ US$ 2980,072,70877,999,371-2.60%3,387,4413,270,468-3.50% SEG 3 - US$ 29 < Px ≤ US$ 4090,590,884102,196,84412.80%2,632,3972,964,68412.60% SEG 4 - US$ 40 < Px ≤ US$ 90132,239,689139,464,4705.50%2,394,6922,557,6656.80% SEG 5 - Px > US$ 9030,910,98731,012,8110.30%215,273227,5345.70% TOTAL BOTTLED WINE348,674,417359,848,2023.20%9,616,0879,622,3110.10%

19. More wine is being sold in drug stores and other chains such as Walgreens and Dollar General The sweet spot for wine pricing is $10 – $14.99 Online wine sales are finally coming into their own, with 74% of consumers purchasing wine from winery websites and 68% from Wine.com Source: Trends in the US Wine Industry in 2013 – Liz Thach MW

20. The hottest varietals are still Moscato, Malbec and sweet red blends. Americans still enjoy buying wine from Argentina, New Zealand and Spain, but wine purchases have declined from Australia and Germany. The US still imports almost 30% of all wine sold in the country. Source: Trends in the US Wine Industry in 2013 – Liz Thach MW

21. Winery$FOB9 L CASES $ FOB / 9 L CASE Esmeralda $43,241,584.221,060,035 $ 40.79 Peñaflor $24,426,798.69871,411 $ 28.03 Trivento $11,935,159.95461,902 $ 25.84 Escorihuela $10,617,613.55262,260 $ 40.49 Norton $ 9,106,814.16187,648 $ 48.53 Puerto Ancona $ 8,249,660.88155,553 $ 53.03 Chandon $ 8,029,701.79138,397 $ 58.02 Zuccardi $ 7,535,341.89210,626 $ 35.78 Dominio Del Plata $ 7,304,834.35140,055 $ 52.16 Doña Paula $ 6,081,209.00134,048 $ 45.37 Top 25 Argentine Exporters to the U.S. Source: Top Argentine Exporters of Argentina – Vinos de Argentina

22. Top 25 Argentine Exporters to the U.S. – Cont’d Winery$FOB9 L CASES $ FOB / 9 L CASE Diageo Argentina $ 4,939,806.40 82,784.00 $ 59.67 Finca La Celia $ 4,498,478.51 211,221.00 $ 21.30 Valentin Bianchi $ 4,436,676.70 171,635.00 $ 25.85 Lavaque $ 4,102,160.32 130,291.00 $ 31.48 Pascual Toso $ 3,975,821.42 110,451.00 $ 36.00 Leoncio Arizu $ 3,740,393.53 74,549.50 $ 50.17 Salentein $ 3,541,245.24 99,594.00 $ 35.56 Flichman $ 3,419,196.67 98,040.00 $ 34.88 Fincas Patagonicas $ 3,030,063.80 82,172.83 $ 36.87 La Rural $ 2,981,288.01 77,181.33 $ 38.63 Florida Del Tupungato $ 2,890,177.99 19,101.08 $ 151.31 Bodegas Fabre $ 2,819,394.01 64,859.00 $ 43.47 Pernod Ricard $ 2,757,542.24 71,468.00 $ 38.58 Alta Vista $ 2,612,446.82 49,700.83 $ 52.56 Viña Cobos $ 2,587,115.00 31,457.17 $ 82.24 Source: Top Argentine Exporters of Argentina – Vinos de Argentina