Resignation Brewery Investor Presentation

Executive Summary

One of a kind partnership with award winning Brewery and Media powerhouse

Scalable, low overhead business with high growth potential

Operating in a strong acquisitive environment

Strong focus on Texas as home market

Conservative Valuation and very attractive Preferred Security

Investment highlights

Official Beer of theCHIVE (28M monthly unique visitors); theCHIVE and Resignation Brewery (RB) aresubsidiaries of Resignation Holdings (RH)

Strong scalability due to partnership with Craft Brew Alliance (CBA)- Excess capacity available at CBA breweries- Access to the Anheuser-Busch Distribution Network (nationwide)- Access to Canadian markets through BeerThirst

Minimal Operating Expenses- Utilize shared design and business process services; Leverage internal marketing rates on all RH digital properties (32M monthly unique visitors)- All PPE, Sales, Manufacturing Costs, and Inventory owned by CBA- RB responsible for marketing efforts and activating theCHIVE audience

Very strong Craft Beer market growing at over 15% per year

2015 resulted in most acquisitive environment ever in this sector

Attractive participating preferred security being offered in this raise

ResignationBrewery.com ResignationMedia.com theCHIVE.com theBERRY.com TheChivery.com

Company Overview

Developed by the creators of theCHIVE, KCCO Beer is marketed as part of the lifestyle brand to a massive audienceand staunch brand supporters

Entered 7 year partnership with CBA in September 2013

RB handles the majority of marketing in return for a fixed marketing fee per case and owns all the IP for branding and recipes;in addition to merchandise rights (25% of revenue from RB merchandise sales on TheChivery)

Distributed to all 50 States and expanded to Alberta and British Columbia in late 2015

CBA handles the production, distribution, and sales of KCCO Beer utilizing their national sales team, 4 large scalebreweries (OR, WA, NH, TN), and national distribution agreement with Anheuser-Busch

Unprecedented start with over 31,000 barrels in first 2 years with only 1 national product at a time, sold in all 50 States

RB personnel consists of 3 employees; product sold by CBA sales team (~100)

Relationship to notable charitable causes through Chive Charities and a military coalition: Marcus Luttrell’s Team Never Quit, ChrisKyle’s Frog Foundation, and the Boot Campaign

- Currently there are over 4,200 operating breweries in the U.S.; Craft breweries by definition produce under 6M barrels per year- Craft beer represented 18% marketshare and 17% YTY growth in 2014 versus Total Beer growth at 0.5%- Big Beer making high number of acquisitions to capture emerging brand equity and higher margins; organic shrinkage requires inorganic growth- Most States require operating within the 3 Tier system - Brewer/Distributor/Retailer must remain independent

- Resignation Brewery does not fall in the 3 Tier System since CBA holds the brewing license - provides much greater flexibility

Beer Industry Basics

Traditional Brewery Contract Brewing Partner Brewing (RB Model)

PPE ($10M minimum)

Inventory Risk

Intellectual Property

Sales Team

Build Distribution Network

Procurement

Marketing

Regulatory Risk

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Product Timeline

2013

September

2014

January November January March April July November

2015

ABBC

Launched KCCO Black Lagerin 10 cities in September 2013

2013Began shipping Black LagerNationally in January 2014

2014Halted sales of Black Lager inJanuary 2015

2015

Introduced limited KCCO Gold Lager inNovember 2014

Launched KCCO Gold Nationally inMarch 2015

Launched KCCO White Wheatexclusively in Texas in April 2015

KCCO Gold available in Alberta, CA in July2015

KCCO Gold available in British Columbia,CA in November 2015

2016-17 Strategy - Audience

Texas as Home Market- #2 Beer market in the U.S. & theCHIVE is headquartered in Austin- Establish KCCO Beer as a Texas brand thru POS, events, and sampling blitz- Increase high profile accounts (COTA) and partner with franchises

Military- Active and Retired military represent 20% of theCHIVE’s monthly visitors- Partnered programs with Frog Foundation, Team Never Quit, & Boot Campaign- Increase POD on bases w/ samplings and better integrate military content online

ChiveTV- Chive curated content delivered directly to bars (~500 locations) for free- Running KCCO Beer ads as the only ad since inception- KCCO Beer sold in alongside ChiveTV; expanding ChiveTV sales force and supporting accounts through spend programs

2016-17 Strategy - Actions

Increase and Align Marketing Resources- Increase overall marketing spend by 3X; marketing surge for an emerging brand- Expand digital presence outside theCHIVE; Expand to traditional media outlets near strong targeted account bases- Increase event and sponsorship activity; including sampling blitz in Texas- Utilize new ChiveTV field marketing representatives for Dallas, Houston, and San Antonio

Improve Target Marketing- Advance geo-targeting campaign for very precise demographics within theCHIVE- Create custom ad strategy for theBERRY to reach more female consumers- Design ads/POS to include Texas, military, and Chive references when appropriate

Better Leverage Charitable Activity- Strengthen the connection to Chive Charities thru events- Increase frequency and presence for Patriot Pact Coalition programming- Ignite the Drink With A Purpose campaign within Chive Nation activities- Continue to leverage in-kind relationships for charities as sampling events

71% Awareness of which 28% Find the Product in Market

Resignation Media Properties - theCHIVE, theBERRY, TheChivery- Over 21,000,000 impressions per month for KCCO Beer- Product placement in daily galleries- Dedicated Beer Locator on theCHIVE App- Dedicated section within TheChivery; included in email and banner promotions- Monthly social mentions on theCHIVE social outlets

Resignation Brewery- ResignationBrewery.com has seen 357K unique visitors in prior 6 months- Beer locator on theCHIVE App receives 3K clicks per week- Facebook: 33K Likes- Instagram: 30K Followers- Twitter: 35K Followers

KCCO Beer Brand DIGITAL

Digital Presence on All Properties

Appendix

RB Personnel

Resignation Media Company Overview

KCCO Beer Brand

Chive Nation

Notable Media Coverage

Distribution Snapshot

Continued Craft Growth

2015 Industry Acquisition Activity

Merchandise

Future Can Design

RB Personnel

JOE MICHAELS PAT KILLORENJAKE MORROWPresident Sales Director Marketing Manager

University of Notre Dame - Finance and Computer ApplicationsUniversity of Notre Dame - MBA Corporate Finance

Certified Management AccountantCreated Resignation Brewery in 2013

Bethel University - Communication B.A.Over 12 years sales experience

Virginia Tech University - MarketingHas lead marketing efforts since 2013

Resignation Media

32M Monthly unique visitors

theCHIVE ranked #1 humor website in the U.S (comScore, Aug 2015)

Dedicated product placement and digital advertising to KCCO Beer

Owns TheChivery.com: online merchandising storefront of theCHIVE

KCCO Beer apparel and hard goods sold exclusively on TheChivery

Owner of flagship humor content websites; theCHIVE and theBERRY

ResignationBrewery.com ResignationMedia.com theCHIVE.com theBERRY.com TheChivery.com

The KCCO Beer Brand

Keep Calm and Chive On!

For years, our fans have had a love for all things Humor, Hotness, Humanity, and Heroes.They soon found ways to connect offline and the KCCO lifestyle was born. With the creationof KCCO Beer, the lifestyle was given a flavor, and its taste matched our community's commitmentto live every day to the fullest.  Cheers high, often and always with a purpose.

HUMORHold my beer and watch this!

Hilarious moments captured in real-timetheCHIVE original videos

HOTNESSWhere there’s a KCCO Beer, there’s sexiness

Chivette photo shootsDaily photo submissionsWeekly Instagram ‘KCCO Beer Girl’

HUMANITYMaking the world 10% happier

Proud Supporter of Chive CharitiesHelping the underdogs through the Chive Charities Fund

HEROeSKCCO Beer supports our nation's brave few!

Partnerships with several veteran-based charities

FO

UN

D A TI

ON

CHR

IS KYLE FROG

TM

CHive nation

166CHAPTERS

$3.5MTOTAL RAISED

580K+MEMBERS

Chive Chapters began forming organically all over the world. These are like minded individuals organizing local groups that share a culture of camaraderie and charity in the name of KCCO. theCHIVE has nurtured these groups and provided them with guidance on how to present themselves and make the best possible impact on the needs of their communities.

NOTABLE MEDIA COVERAGE

merchandise

The KCCO Beer Brand is hopped up on awesome tees and cool gear.

Future Can design

Gold Lager

Distribution

- Safeway 10.6% of Total Volume and 5.7% Points of Distribution- Kroger 5.4% of Total Volume and 3.7% Points of Distribution- HEB 3.3% of Total Volume and 0.7% Points of Distribution

Distributed to over 5,000 locations by AB Network in all 50 States plus Alberta and BCTotal U.S. 80% Off-Premise 20% On-PremiseLeading Chains:

Texas Only Distribution70% Off-Premise 30% On-Premise (consistent with industry average)Leading Chains:

- HEB 15.6% of Total Volume and 5.3% Points of Distribution- Kroger 10.9% of Total Volume and 6.9% Points of Distribution- Safeway 5.6% of Total Volume and 4.1% Points of Distribution

AVAILABLE IN ALL 50 states!

CONTINUED CRAFT GROWTH

Growth accelerating from17.2% in 2013

Acquisitive Environment

- 10 Barrel acquired by ABInbev at higher rate of $1,250/BBL (40K BBL output)

Unprecedented acquisition & investment activity in the sector

2014 Valuations were consistent at $1,000 per barrel of annual production

- Firestone Walker sold to Duvel for estimated $1,250/BBL (200K BBL output)- Lagunitas sold 50% to Heineken for estimated $1,250/BBL (800K BBL output) - St. Archer sold to SAB MillerCoors for estimated $1,000/BBL (35K BBL output)- Ballast Point planned to IPO at estimated $1,287/BBL then sold to Constellation Brands for estimated $3,448/BBL (290K BBL output)

2015 Valuations showed considerable growth off the $1,000/BBL baseline

Big breweries are losing marketshare; the only way to reverse the trend is to grow through acquisition