Black Chicken A California Winery Producing a Variety

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

Black Chicken Comments • Founded in XXXX • Based in XXXX Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 2

Black Chicken was Founded in XXXX and Has Subsequently Evolved through its Early, Middle, & Recent Phases Black Chicken History Black Chicken Founded Approximate Dates: Key Steps: XXXX • XXXX: Black Early Phase XXXX - XXXX • XXXX: -- Middle Phase XXXX - XXXX • XXXX: -- Recent Phase XXXX - 2019 Black Chicken Today 2019 • XXXX: -- Chicken founded Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 3

Black Chicken was Founded in XXXX Comments • Founded in XXXX • Based in XXXX Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 4

Black Chicken is Not a Frequent Advertiser Advertising Comments • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 5

Black Chicken Has a Web Site with XXXX Core Sections, Including __ Black Chicken Web Site -- -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 6

Black Chicken is Not a Frequent Acquirer Acquisitions Comments • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 7

Black Chicken Has a Charitable Giving Program Charitable Giving Comments • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 8

Black Chicken Has Employees Needs data Black Chicken Employees Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 9

Black Chicken Has Planted Acres Needs data Black Chicken Planted Acres Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 10

Black Chicken Produces Tons of Grapes Needs data Black Chicken Tons of Grapes Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 11

Black Chicken Produces Gallons of Wine Needs data Black Chicken Gallons of Wine Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 12

Black Chicken Produces Cases Needs data Black Chicken Cases Produced Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 13

Black Chicken Generates Revenues Needs data Black Chicken Revenues ($ Millions) Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 14

Black Chicken Earns $___ Million Needs data Black Chicken Net Profits ($ Millions) Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 15

Black Chicken Produces a Number of Varietals, Including… Black Chicken Varietals -- -- -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 16

Black Chicken’s First Varietal is ___ Comments • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 17

Black Chicken’s Second Varietal is ___ Comments • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 18

Black Chicken is Led by its CEO… Black Chicken Organizational Chart -- -- -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 19

Black Chicken Has a Board of Directors Led by its Chairman… Black Chicken Board of Directors -- • -- -- • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 20

Black Chicken is Privately Owned Comments • -- Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 21

Black Chicken Has Assets Needs data Black Chicken Assets ($ Millions) Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 22

Black Chicken Has Liabilities Needs data Black Chicken Liabilities ($ Millions) Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 23

Black Chicken Has Shareholders’ Equity Needs data Black Chicken Shareholders Equity ($ Millions) Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 24

Black Chicken Earns … Per Share Needs data Black Chicken Earnings Per Share Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 25

Black Chicken Declares … Dividends Per Share Needs data Black Chicken Dividends Per Share Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 26

Black Chicken Has a … Dividend Yield Needs data Black Chicken Dividend Yield Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 27

Black Chicken’s Stock Price is … Needs data Black Chicken Stock Price Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 28

Black Chicken Has … Shares Outstanding Needs data Black Chicken Shares Outstanding Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 29

Black Chicken’s Market Capitalization is … Needs data Black Chicken Market Capitalization ($ Millions) Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 30

Black Chicken is Owned by …. Needs real data Black Chicken Ownership By Owner Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 31

Black Chicken’s Stock Volume is…. Needs data Black Chicken Stock Volume Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 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 - Mc. Kinsey & Company - Charles Schwab & Company - Tiburon since 1998 Source: Tiburon Research & Analysis 19. 02. 20 – Black Chicken © Tiburon Strategic Advisors, LLC™ 33