LARK DISTILLING CO. LTD — Capital/Financing Update 2018

Jun 4, 2018

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ASX Release Date: 5[th] June, 2018

Dear Sir or Madam:

– Lark acquisition Composition of Cash and Scrip Consideration

Australian Whisky Holdings Limited (ASX:AWY) (“ AWY ”) announced on 7 May 2018 that the offer to acquire Lark Distillery Pty Ltd (“ Lark ”) shares had closed, following receipt of acceptances which, upon completion, will increase AWY’s holding in Lark Distillery to 99.96%.

Based on the acceptances that the Company received, and subject to shareholders approval under ASX Listing Rule 7.1, AWY will have to pay consideration as follows:

• Cash Consideration of approximately $ 846,400; and

• Scrip Consideration of approximately 307,925,000 AWY Shares.

As the above indicates, most of the Lark shareholders who choose to sell their shares in Lark elected to receive Scrip Consideration under the Offer. Based on that, AWY is of the opinion that it will be able to fund the Cash Consideration component of the Offer using AWY’s existing cash reserves. Notwithstanding, AWY intends to proceed with putting forward Resolution 2 to the General Meeting to be held on 28 June 2018. This is to ensure that AWY has the flexibility to structure the acquisition of Lark shares.

Yours sincerely,

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Company Secretary Gary Stewart

AUSTRALIAN WHISKY HOLDINGS LIMITED Level 4, 283 George Street, Sydney NSW ASX CODE: AWY ABN 6210 4600 544 www.australianwhiskyholdings.com Phone +61(2)8188 1491