Branded Spirits Acquisition of Penelope Bourbon

DISTILLING SOLUTIONS UNIQUE EXPERTISE POSITIONS US AS THE PREFERRED PARTNER TO OUR CUSTOMERS Scale provides competitive pricing Capacity supports long-term growth Capabilities to meet diverse customer needs - multiple mash bills; blending to achieve multiple flavor profiles Flexibility to shift between various offerings Library of different mash bills and ages Broad base of premium beverage offerings Leveraging aged whiskey to retain and attract new customers Partnership approach to our core business . • • MGP Lawrenceburg, IN Operations Distillery • Top-5 American Whiskey producer . One of the largest U.S. suppliers of rye whiskey Bourbon American Single Malt Whiskey Gin & Grain Neutral Spirits/Vodka Whiskey aging warehouses Research & Development Atchison, KS Operations Company Distillery (1) • One of the largest U.S. suppliers of distilled gin Grain Neutral Spirits/Vodka Industrial alcohol Research & Development AGED WHISKEY CUSTOMER ECONOMIC BENEFITS • • Shortens timeline to cash flow Brand launches can occur in weeks rather than years Reduces working capital investment No need to build additional distillation capacity or warehouses Enables M&A-related growth and brand expansion Provides a reliable long-term supply chain solution 6 (1) See slides 9-10 for information about the planned closure of the Atchison distillery.

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