«We go where our customers want us to be»

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2 2 «We go where our customers want us to be» Our customers are expecting from us product innovation, consistency, outstanding quality and service, convenience. This is our task. And we want to accomplish it in a profitable way.

3 Vision A branded bottle of ours everywhere, to enjoy a moment and share emotions. 3

4 Mission Creating distintictive brands, beloved by our clients. Our entire team at any level strives to get to this goal. Creating and positioning unique products in terms of quality and style, tailor made for our clients. We are Italian Wine Brands, our name is a promise, that we want to honour. 4

5 Vision + Mission To be anywhere wine is consumed With our brands Make clients happy > invest in distribution > invest in brand equity > create products with soul 5

6 SOME OF OUR BRANDS 6

7 7 IWB Business Model BUSINESS MODEL THE VALUE CHAIN WHOLESALE Europe 2017 Eur 70M Revenues HERE IS WHERE WE ARE DISTRIBUTION GRAPES TREATMENT WINE-MAKING BOTTLING DISTANCE SELLING Italy and Europe 2017 Eur 80M Revenues ~65% internally / ~35% outsourced AGRICULTURAL ACTIVITY GRAPES PRODUCTION WE ARE NOT INVESTED IN AGRICULTURAL ACTIVITY

8 8 SALE CHANNELS Distance Selling 1 ITALIAN ON-LINE PLAYER, AMONG THE FIRST 3 EUROPEAN WEB -> since 2002 the fastest-growing channel, chosen by 30% of our customers TELE-SELLING -> 6m contacts/year; 0.5m active clients in 9 countries and in 5 languages MAILING -> more than 18m catalogs & brochures sent every year to 1m clients in 9 countries and in 5 languages

9 9 SALE CHANNELS Wholesale SOME OF OUR CLIENTS off-trade international channel on-trade international channel

10 10 TWO WINERIES 200,000 Hl WINE STORAGE TWO WINERIES, ONE IN THE SOUTH AND ONE IN THE NORTH OF ITALY, WORTHING ABOUT EUR 40M BY AMERICAN APPRAISAL AND CBRE.

11 11 THE LANGHE, UNESCO HERITAGE SITE, HOME OF BAROLO MORE THAN 3,000 OAK BARRIQUES FOR AGEING

12 12 TWO BOTTLING LINES with a total capacity of 20,000 bottles per hour

13 13 A UNIQUE LOGISTIC HUB FOR THE DISTANCE SELLING 17,000 pallets stock capacity 8 laser guided vehicles for picking 1 new automatic packaging line (2,000 packages per hour) 3.2 m products and 1.1 m orders processed every year 100,000 square meters total surface Of which 40,000 covered, dedicated to Packaging and delivery to clients

14 14 QUALITY AND AWARDS CERTIFIED QUALITY FOR US QUALITY MEANS - ISO and BRC-IFS certified and full product traceability - Best Italian Wine Producer 2012, 2013, 2014, 2015, 2016 and 2017 at the Berliner Wine Trophy - Over 100 gold medals in international challengers - A very skilled winemaking team, dedicated to customizing the tasting profile CONSISTENT RESULTS Long term business relationships with top retailers and wine companies worldwide Full spectrum pricing on Award Winning Wines METRICS AND METHOD Highest security and food safety standards Significant investment in process, technology, equipment and facilities Tailored operations to meet demanding customer specs Complete product analysis and quality control at every step

15 15 IWB Group Structure IWB IS LISTED AT MILAN STOCK EXCHANGE - AIM MARKET MORE THAN 700 INVESTORS BOTH PRIVATE AND INSTITUTIONALS MAIN SHAREHOLDERS Provinco S.r.l. 9.08% IPOC S.r.l. 8.67% Praude Asset Management LLC 5.20% Market 77.05% ITALIAN WINE BRANDS S.p.A. > 75% FLOATING SHARE CAPITAL 100% 100% Giordano Vini S.p.A. Provinco Italia S.p.A. Target X Target Y

16 16 IWB Governance Board of Directors Name Alessandro Mutinelli Simone Strocchi Pier Paolo Quaranta Angela Oggionni Massimiliano Mutinelli Antonella Lillo Carlo Giordano Role Chairman and Group CEO Vice Chairman Director Director Director Indipendent Director Indipendent Director The BoD was renewed by the General Shareholders meeting last 13 April 2018 with a three-year mandate. The BoD is compliant with gender diversity and best practices on independent directorship. Related Parties Committee Name Carlo Giordano Antonella Lillo Angela Oggionni Role Committee Chair Member Member The BoD estabilished a Related Parties Committee on a voluntary compliance basis.

17 IWB Group Management Team 17 MANAGER TITLE PROFESSIONAL BACKGROUND Alessandro Mutinelli (52) Pier Paolo Quaranta (42) Loris Delvai (49) Group CEO, MD Giordano Vini CEO, MD Chief Quality Officer After graduating at the University of Trento in Business Administration in 1991, Alessandro became chartered accountant in He began his career as an auditor in Deloitte from 1992 to In 1996 he joined the start-up in the wine sector Provinco Italia Srl and in 2002 became its shareholder (40%). In 2011, Alessandro became majority shareholder of the company (82%), leading with success its growth, organization and marketing activities. In 2015 Alessandro sold Provinco Italia to IWB and simultaneosly became major shareholder of the Group and Group CEO. After graduating at Turin University in 1998, Pier Paolo joined Arthur Andersen as an auditor. He then moved to financial industry firstly joining UniCredit Group Investment banking division ( ) and then two italian private equity funds as a Partner ( ). In his career, Pier Paolo led many investments and dismissals of industrial companies and has been appointed as a Board Member in mid sized company such as Manutencoop Facility Management, Industrie Chimiche Forestali, Sirti and Giordano Vini. He joined IWB as CEO of Giordano and MD at the end of Loris holds a degree in biology from University of Padua. Winemaker and enologist he worked as a consultant for a number of wineries from 1990 to In 2003, Loris joined Provinco Italia and in 2004 became quality control manager of the company. In 2011 he became minority shareholder of the company and sold the company to IWB alongside Alessandro Mutinelli. At the beginning of 2018 Loris was appointed Chief Quality Officer of the group with overall responsibility upon bulk wine purchases. Giuseppe Sibilla (50) Massimo Morra (52) Chief Operating Officer CFO Giuseppe holds a degree in Business Adiministration and is a chartered accountant. From 1992 to 2005 he worked with multinational companies operating in the autoparts distribution (GEA Gmbh, Norauto, Midas) as an operation and logistic manager. In 2005 he was appointed as Logistic Director of Giordano Vini and in 2015 became general Manager of the company. At the beginning of 2018 he became COO of the group with overall responsibility over purchases, personnel and logistics. Massimo holds a degree in Business Administration and is a chartered accountant. He began its career in Banco di Roma in 1991 and then moved to a consultancy company until In that year he became CFO of Euphon SpA, a listed company on the Milan Stock Exchange. In 2016 Massimo joined Giordano Vini and became group CFO in 2017.

18 18 SECURITIES 7,402,077 NR OF IWB ORDINARY SHARES AIM ITALIA MAC - ISIN CODE IT This number includes the shares deriving form the conversion of all IWB warrants at their maximum value, occurred April - June 2018.