LARK DISTILLING CO. LTD — AGM Information 2020

Nov 25, 2020

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LARK Annual General Meeting

26 November 2020 Lark Distilling Co. Limited

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RECAP ON STRATEGY ROADMAP AND PROGRESS TO DATE

• ✔ Completed in F20

• Understand The Whisky Landscape - Domestic and Abroad 2. Clean Up The Mess / Reset The Foundations

• ✔ Completed in F20

• ✔ Completed in F20

• Define and Articulate a Proven Strategy That Maximises Shareholder Value

• F21 Commenced “Made of Tasmania” F21 Summer Relaunch

• Build “Lark” Into a Power Brand With Broad Appeal (and Asian Relevance)

• Reboot Forty Spotted Gin To Own “Tasmanian Gin”

• ✔ Commenced w Symphony No1

• Innovate The Product(s) & Tell Meaningful Stories

• ✖ On Hold With Australia The Priority ✔ Distilling + 4,300 Ltrs Per Week F21 Expect Maiden Profit In F21

• Establish A Footprint In Key Export Markets With Proven Sell Thru

• Build & Stockpile Inventory to Meet Future Demand (& Acquisition Criteria) 9. Execute The Plan While Maximise Revenue, Manage Costs and Achieve Profit 10. Leverage Balance Sheet To Fund the Journey 11. Improve Liquidity and Move to Institutional Shareholders

• ✔ Cap Raise Into Debt Cycle

• ✔ Successful Sept ‘20 Capital Raise

SHARE PRICE GROWTH 35% SINCE THE BEGNING OF 2020 73% SINCE COVID-19

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KEY INSIGHTS FOR SHAREHOLDERS

1. The Lark Brand Momentum is Accelerating

2. Reboot Of Forty Spotted Gin is On Track

3. Continued Increase in Whisky Under Maturation

4. Culture : Organisation Values and Behaviours

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Net Sales ($m) Forecast to Double in F21
$14.0
$12.0
$10.0
$8.0
$6.0
$4.0
$2.0
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F18A F19A F20A F21F
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LARK BRAND MOMENTUM

• Revenue Forecast to Grow by Over 100% in F21 (Subject Only to Speed of Victorian Recovery)

• E-Commerce Sales Are Tracking at a 5 Fold Increase YOY

• Lark Limited Online Releases Are Working

• Lark Symphony No1 Gaining Traction Albeit We Still Don’t Have Enough Data Points from Retailers

• Nant Sales Performance Ahead of F21 Plan Driven by Strong Sell Thru

RARE CASK PAR50; LARK’S FIRST LUXURY RELEASE 300 OF 825 BOTTLES SOLD IN 2 DAYS

CHRISTMAS CASK RELEASE II – OUR LARGEST LTD RELEASE TO DATE 3000 OF 4500 BOTTLES SOLD SINCE OCTOBER

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LARK BRAND MOMENTUM …… MORE TO COME ……

• Continuous Cycle of Upgrading of All Brand Touchpoints And Pushing the Conventional Definition of “Lark”

 Limited Release Programme To Be Accelerated in Terms of Number of Releases and Units Per Release in F22

 New Shopify E-Commerce Platform to Be In Place for Beginning of F22

• Secured Prestigious Franklin Restaurant Site for New Tasmanian Whisky Bar Opened by Beginning of F22

• Increased Sales Resources In Place on the Mainland Impacting Sales from Q4 F21 Onwards

AWARDED TOP 4 WORLDWIDE WHISKY PRODUCER

AN ICON OF AUSTRALIAN WHISKY THE GIFT OF CHOICE FOR SCOTT MORRISON

OF THE YEAR BY THE IWSC

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Nov 18[th] 2020

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June 9[th] 2020

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FORTY SPOTTED GIN SUMMER’20 REBOOT

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FORTY SPOTTED GIN SUMMER’20 REBOOT

• Strong Summer 20/21 Social Media / Influencer Led Campaign

• Opening of the Hobart Based Gin Bar by Beginning of C21

• Introduction of a Limited Release Programme in F22

• New Shopify E-Commerce Platform in Place by Beginning of F223

NEW PACKAGING LAUNCHED NOV’20

HOBART GIN BAR JAN’21

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SIGNIFICANT MATURATION ASSET YET TO BE MONETISED

• We Are Presently Making 5,600 per Week @ 63.4%, (Up From 4,100 in F20)

• Since 1 July 2020 Increase on Litres Under Maturation 11% to 788,472 Litres

• AX8 Outsourced Production and Column Still Production Still Ramping Up

• Objective Remains to Have 1.5m Litres Under Maturation by the End of F22

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LARK : ORGANISATION CULTURE, VALUES AND BEHAVIOURS

• Organisation Culture, Values and Behaviours Is A Key Driver of Your Company

• While Custodians We Must Also Be Active Leaders and Role Model Corporate Citizens

• We Must Contribute To The Environment That So Richly Serves Us ie. Carbon Neutral

• We Must Protect The Team That Works So Hard To Deliver On Our Agreed Vision ie. External Counselling Services

• We Must Contribute to Our Whisky Community Through Supporting Other ie. Outsourcing

• We Must Be Brave Enough to Fail as We Are To Succeed ie. Column Still

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THANK YOU (AND ANY QUESTIONS)

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DISCLAIMER

The information contained in this presentation has been prepared by Lark Distilling Co. Limited (“LARK”). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in LARK. This presentation has been made available for information purposes only and does not constitute an offering document of any type.

This presentation may contain certain forward looking statements, projections, strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon as representation or warranty, express or implied, of LARK. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of LARK. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved.

While the information contained in this presentation has been prepared in good faith, neither LARK, nor any of its respective directors, officers, agents, employees or advisors make any representation or give any warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, forward looking statement, opinions and conclusions contained in this presentation. Accordingly, to the maximum extent permitted by law, LARK nor any of its respective directors, officers, employees, agents or advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation. LARK disclaims any obligation to update or revise any forward looking statements based on new information, future events or otherwise except to the extent required by applicable laws.

Investors should exercise caution when dealing in the securities of LARK. In the case of any doubt, they should seek their own professional advice and consult with their own bank manager, stockbroker, solicitor, accountant, tax adviser or other professional adviser.

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