Ann: Company Update, page-45

Happy to hear your opinions SaberX but I dont agree there's any such cherry picking. WDA was a separate entity acquired by DW8. Cases/orders for WDA were not relevant to us hence could not be reported by Wine Depot. The acquisition of the entity was completed on 1st November but the consolidation into Wine Depot did not occur until 1st December hence the initial separate reporting. This was very clearly stated in prior announcements. WDA entity no longer exists - it has been completely consumed by Wine Depot hence case/orders and affiliated revenue since the 1st Dec has been and will continue to be reported as Wine Depot numbers. The key driver of the acquisition was to bump up brands and SKUs in preparation for B2B release in a few months. I'm sure the 4PL business will continue to operate and raise revenue but the key consideration was to get these brands onto our national ordering system and their stock into our storage facilities. The next acquisition, which could be just around the corner, should be considered in exactly the same fashion.

The lack of sign up numbers within Oz is a little baffling. I do hope our sales team aren't all WFH and are actively promoting our brand and platform face to face. Busy time for wineries but heck when has saving money been any more relevant than right now? We may see a separate announcement in the coming weeks for Oz signups which could have been impacted by another technicality which prevented the company releasing them into this announcement.