Black Chicken: A California Winery Producing a Variety of Wines Tiburon Research February 20, 2019

Black Chicken Comments 2 Founded in XXXX Based in XXXX Source: Tiburon Research & Analysis 2

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

Black Chicken was Founded in XXXX Comments Founded in XXXX Based in XXXX Source: Tiburon Research & Analysis 4

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

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

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

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

Black Chicken Has Employees Source: Tiburon Research & Analysis 9

Black Chicken Has Planted Acres Source: Tiburon Research & Analysis 10

Black Chicken Produces Tons of Grapes Source: Tiburon Research & Analysis 11

Black Chicken Produces Gallons of Wine Source: Tiburon Research & Analysis 12

Black Chicken Produces Cases Cases Produced Source: Tiburon Research & Analysis 13

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Black Chicken Has … Shares Outstanding Source: Tiburon Research & Analysis 29 29 29

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

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

Black Chicken’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