Branded Spirits Acquisition of Penelope Bourbon

MGP MGP OVERVIEW Total sales were $782MM for the year ended December 31, 2022 DISTILLING SOLUTIONS Sales: $428MM (55% of Total) GP Margin: 29.5% Leading supplier of distilled spirits, facilitating the creation of bourbons, rye whiskeys, American single malt whiskey, distilled gins, and vodkas Shifting business mix towards higher margin opportunities as a supplier to our increasingly diverse range of customers Capacity and capability provide key competitive advantage Continued position as legacy producer of food grade alcohol BRANDED SPIRITS Sales: $238MM (30% of Total) GP Margin: 40.1% O III Attractive and growing portfolio of spirit brands in fastest growing categories Branded Spirits segment provides a platform for both organic and acquisitive growth opportunities Award winning premium, super premium and ultra premium brands offer a significant long-term upside Diversified standard and value portfolio positioned at affordable price points and provides stable cash flows INGREDIENT SOLUTIONS Sales: $116MM (15% of Total) GP Margin: 27.2% Leading U.S. producer of specialty wheat proteins and starches Rapidly growing category with significant long-term upside Aligned with several important consumer trends (e.g. plant based high protein foods, and lower net carbohydrate foods) MGP's history affords unique know- how in the specialty ingredient category and we are widely regarded as experts in the industry 4

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