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BROKEN SHED VODKA™ Brand Information and Investor Deck

October 2018

The content of this presentation is proprietary information of Broken Shed Distilleries and Broken Shed Ltd. It is not intended to be distributed to any third party without the written consent of Broken Shed.

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DISCLAIMER: The shares of common stock of the company offered hereby (the “Shares”) are highly speculative and an investment in the shares involves a high degree of risk and immediate and substantial dilution from the offering

price. The shares are suitable for investment only by a person who can afford to lose the entire investment. Prospective investors in the shares should carefully consider the risk factors contained in the subscription agreement before

making an investment decision.

The shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and will be offered and sold in reliance on exemptions from the registration requirements of

these laws. The shares have not been approved or disapproved by the Securities and Exchange Commission or any state regulatory authority nor has the commission or any state regulatory authority passed upon or endorsed the

merits of the offering or the accuracy or adequacy of this communication. Any representation to the contrary is unlawful. In the absence of an effective registration statement under the Securities Act and any applicable state

securities laws or an exemption from registration thereunder, the shares may not be sold or otherwise transferred.

Statements in this investor presentation that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,”

“believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to:

● our ability, as an early stage entity with limited operating history, to effectively manage our growth, ● our ability to manage and maintain the contracts with third-parties who provide resources and services necessary for the production, packaging, importation and distribution of our product, ● our ability to obtain financing based on reasonable terms, ● our ability to secure distributors in new territories, ● our ability to reach distribution targets and surpass distribution goals, ● our ability to attract, retain and motivate qualified personnel, and ● our personnel’s and distributors’ ability to build relationships with retailers and brand loyalty with consumers.

Additionally, such statements may also involve risks, assumptions and uncertainties related to:

● variations in market conditions as well as the demand and pricing for our product which is dependent on unpredictable consumer tastes and trends, ● federal and state legislative reform in the heavily-regulated spirits industry, ● failure of any of the third parties involved in the supply of resources, manufacturing, packaging, importing and distribution of the product to meet their contractual obligations ● competition from new or established brands in our industry, and ● our ability to successfully maintain and enforce our intellectual property rights and defend against claims of infringement of the intellectual property rights of third parties.

These and other risks, assumptions and uncertainties are described in other documents that we provide to prospective investors, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We expressly disclaim any current intention to update publicly any forward-looking statement after the distribution of this presentation, whether as a result of new information, future events, changes in assumptions or otherwise.

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Broken Shed Introduction

Broken Shed has recently agreed terms to increase distribution from 5 to 15 states plus DC. We anticipate doubling the US footprint again in 2019. Broken Shed has introduced a proven management team with experience creating Jägermeister, Grey Goose and Casamino's. We are seeking growth capital to fund the requirements of this expansion.

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Broken Shed Management Team FROM NEW ZEALAND TO CONNECTICUT

JONATHAN BAILEY

CEO & PRESIDENT |OWNER

SAMUEL A. BROWN

EXECUTIVE CHAIRMAN | OWNER Sam grew up in Kentucky from a prominent family that has been

in the spirits business for generations. An enthusiastic

entrepreneur and risk taker, Sam started his career in motor

racing before a stint in advertising at Ogilvy and Mather. A

seasoned entrepreneur with over 35 years of experience growing

companies in telecommunications and digital technologies,

including M&A, IPO, Private Placement, Sales, Marketing and

Growth Management.

Jonathan’s career has been spent in finance, initially with Arthur

Andersen and subsequently as a professional investor. He was a

Partner in New York at Omega Advisors, in London with Perry

Capital and ran his own hedge funds from 2003 to 2010.

JEAN-MARIE HEINS

CHIEF MARKETING OFFICER

MARK SIMMONDS

MASTER DISTILLER

Mark was one of the three founders of Broken Shed. He has been

in the beverage industry since 1992 and was responsible for

developing BSV. He’s based in New Zealand and, as Master

Distiller, is responsible for all production and quality control.

Jean-Marie, a distilled spirits industry veteran, brings her

marketing and operations experience to Broken Shed. She held

leadership roles at Sidney Frank Importing Co., Inc. where she

was instrumental in the launch and development of brands

including Casamigos Tequila, Grey Goose Vodka and Jägermeister,

developing and executing a variety of innovative marketing

programs for the company’s full portfolio of brands.

STEVE BELLINI

EVP BUSINESS DEVELOPMENT Steve, an industry veteran who has held leadership positions at

Seagram Americans, Future Brands a JV between Jim Beam and

Absolut and most recently Mast Jägermeister (formerly Sidney

Frank Importing Company). During the course of Steve’s career

he has successfully managed the sales and distribution of

leading industry brands including, Crown Royal, Captain

Morgan, Jameson and Makers Mark. Steve brings a unique blend

of open and control state experience to the Broken Shed family.

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The Broken Shed Opportunity

We believe the Vodka market is ready for a new entrant. Vodka remains the dominant spirit, accounting for one third of all spirit sales totaling 70MM cases annually in the US. Volumes increased 2.2% in 2017, and revenues in the category expanded 3%. The high end premium segment increased 14.5% in volume to 18.1MM cases. Revenue increased 15.4% to $1.6 Billion. The leading brand accounts for 10% of cases. Many of the premium brands are old. We believe the opportunity is there to take a meaningful share of the premium market with our differentiated, exceptional quality vodka and unique brand profile.

Data Source: Distilled Spirits Council Industry Report 2/1/18

The Vodka

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The Story of Two Friends, a Broken Shed and their Quest for the Perfect Vodka.

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The beautiful place we call home: Wanaka, New Zealand

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The Finest Spirit Money can Buy Distilled three times to the highest standards. Our spirit is crafted from New

Zealand whey protein or as we call it “milk honey” — perfect for distilling into the purest spirit.

The Secret is in our Water Vodka is 60% Water which makes it a critical part of our recipe.

To create the perfect recipe we use two distinct NZ water sources and blend them to perfection with the distillate during production. We keep the natural minerals in the water from a 15,000 year old aquifer in the South Island and blend it with pure

spring water from the North Island of New Zealand, to create a balanced and unique water profile for our vodka. We are proud of our water sources — they are among the most desired and best tasting water in the world. Our naturally smooth

taste is the result of water re-balancing and blending techniques. We use continuous depth filtering and a custom designed charcoal filtration process.

Nothing More or Nothing Less Broken Shed Vodka™ is naturally smooth, containing only the whey distillate and pure spring water. It has no additives or sweeteners and is naturally gluten and

GMO free.

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Wait…Whey?

• Whey is the natural protein and milk sugar rich liquid that remains after curds are strained to produce dairy products.

• Our whey comes from naturally grass fed NZ cows renowned for their standards of quality and purity.

• A special process was developed to distill the “Milk Honey” used to create Broken Shed Vodka. Whey results in a final distillate that is pure & clean.

• Whey contributes to our smooth taste.

• Great vodka retains a flavor profile from the source ingredients used in distillation. We believe our unique whey process contributes to the exceptionally smooth taste of Broken Shed.

Broken Shed Vodka™ Taste Profile

• Naturally Smooth

• Confident, yet smooth to the mouth, full bodied with a well-balanced and clean finish.

• Tasting Broken Shed Vodka™ begins with notes of vanilla, followed by the natural sweetness from the minerals in the water with hints of butterscotch, ending with a subtle pepper taste to give you a smooth warm finish, or as we like to say, finishes with a warm hug.

A side by side comparison against several other top-shelf

premium vodkas highlighted its extremely pure and unique

taste, and it was the hands-down preference. This is a

fantastic vodka and at its price point, it’s an absolute steal

compared to many other high-end, pricey spirits that are

more widely available. It’s definitely worth picking up a

bottle or two and would be best enjoyed over ice or in a

cocktail that lets its delicate flavor shine.

"...It is the pure and polished characteristics of the vodka that

will impress."

"...Smooth, clean, sweet and surprisingly full bodied for a vodka,

featuring light vanilla and anise tones."

"With vodka brands constantly fighting to differentiate themselves

from the rest of the over-crowded market in the United States,

Broken Shed definitely stands out as a company with extraordinary

heart and unmatched quality in every sip."

"At Broken Shed's price point, we can see it giving higher-end,

premium vodkas a real run for their money."

National Reviews all agree —

Broken Shed is an amazingly clean & smooth Vodka at a surprising price.

"An incredibly clean finish, with a velvety mouth-feel."

The spirit is crisp and refreshing. As it opens up, a slight

milky sweetness appears and it finishes extremely smooth

with very little bite. A side-by-side comparison against

several other top-shelf premium vodkas highlighted its

extremely pure and unique taste, and it was the hands-

down preference.

“

”

"It's easily the smoothest vodka I have ever tasted. It goes

down like milk." ”

“

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The industry experts concur — We received quite a few awards. Platinum Medal: 2017 SIP Awards Double Gold in Spirits: 2017 74th WSWA Exhibition & Convention Tasting Competition Gold Medal: 2017 Los Angeles International Spirits Competition Silver Medal: 2017 San Francisco World Spirits Competition Bronze Medal: 2017 New York International Spirits Competition 91 Points from Wine Enthusiast

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Broken Shed Vodka™ - Key Facts • Award winning vodka from New Zealand

• 40% ABV

• Three times distilled

• Keeps the character of the ingredients in the flavor profile

• No need for further distillation due to the high quality ingredients we use

• Two ingredients: Highest quality whey distillate and pure pristine water

• Two water sources

• Natural mineral water from a 15,000 Year old aquifer in the Southern Alps of New Zealand

• Fresh spring water from the North Island

• Blended, balanced, filtered and purified to create the perfect vodka

• Taste Profile

• Full bodied with notes of vanilla from the whey

• Natural touch of sweetness from the minerals

• Smooth warm finish

• Sustainable, environmentally friendly

• Pure and Free

• GMO Free

• Gluten Free

• Additives Free

• Sweetener Free

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Lake Wanaka

From 2/1/2018 Industry Report 16

Sales and Marketing Broken Shed is investing in introducing the product to consumers and building brand awareness.

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Where you find Broken Shed Vodka™ in the USA

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DISTRIBUTOR NETWORK • HORIZON GROUP

(MA, RI, NH, VT*, ME) • BREAKTHRU GROUP

(CT,DE*, DC*, MD*) • SGW&S (KY, NV*) • ALLIED (NJ) • YOUNGS MARKET (CA*) • BADGER & FRANKS (WI) • GREAT LAKES (MI) • LIPMAN (TN)

* Committed

Broken Shed Vodka Sizes

• Available now in 750ML 12 bottle cases

• Q1 2019 – Liter Bottle in 6 bottle case

• Q1 2019 – 750ML will be transitioned to 6 bottle cases

• Next sizes in development - 1.75L and 50ML

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Preferred Shelf Placement

SALES FIELD SUPPORT

We support all markets we are

distributed in with full time Brand

Ambassadors. Our Brand Ambassadors

make 50-75 account calls and hold at

least 2-3 tastings per week where legal.

Our ambassadors act as category, brand

and product experts and provide

education and training to accounts,

generating sales, focused on creating

pull-through consumer awareness and

brand experiences.

Brand ambassadors support the local

distributor sales team

Ambassadors track order commits and

sales activity via our CRM system. Our on

& off-premise account tracker provides

leads on area accounts, tracks calls, and

shows who may be ready to place an

order. Qualified orders are sent to local

distributor sales team’s inboxes though

our VIP KARMA interface for follow up

and input into distributor order systems. All orders are tracked and monitored

through the Karma CRM system which

assures we stay on top of the relationship

and monitor our best customers.

Accounts that order a minimum of 12

bottles can be scheduled for a consumer

tasting (where legal) in the store to drive

sales and encourage reorders

Similar program for on premise

samplings/promotions where legal with a

6 bottle order

Tastings are conducted by our brand

ambassador team and supplemented by

3rd party vendors as required by law or volume.

BRAND AMBASSADORS ORDER COMMITS & KARMA BRAND SAMPLING PROGRAM

Our Target Consumer

• 25-32

• Almost evenly male and female

• Affluent or aspires to be, entered the work world and have available funds

• Concerned with the quality of what they consume

• A global citizen

• Environmentally considerate, cares about sustainability

• Interested in discovering and trying new foods and experiences

• Adventurer, leader, with a love of exploration and travel

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Brokenshed.com – New Look launching

October 2019

• Brand and product information

• The production story • Retail Account Product

locator – updated daily though our VIP feed

• Distribution Information • Cocktail Recipes • Break Free Moments • Petition to get BSV in your

local account

Broken Shed is Social! #BrokenShedVodka

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Brokenshed.com

@BrokenShedVodka

@BrokenShed

BrokenShedVodkaNZ

BrokenShedVodka

BrokenShedVodka

Break Free Google and Facebook Display Ads

Selection of our Promotional Material

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N A T U R A L L Y G L U T E N A N D A D D I T I V E F R E E

All boundaries melt away when you rely on your intuition

and go with it . Made from a secret blend of two of

New Zealand’s pristine water sources and disti lled natural

protein whey. Be free from glutens, additives,

and the same-old, same-old brands.

There’s a new kid on the block.

Sip i t a n d set yo u r Spi r i t Fr ee!

BREAK FREESM ALL BATCH VODKA, H AN DCRAFTED IN N EW ZEALAN D

New “Break Free” Brand Education Card

Cause Marketing and Charitable Events • Broken Shed cares about our community and is developing a cause marketing

campaign as an integral part of our corporate social responsibility messaging. This is part of our Kiwi brand identity. We are exploring charities related to water as that issue is critical to us. A recent example was sponsoring local beach cleanups.

• Broken Shed Vodka™ also develops consumer awareness and encourages trial by supporting a variety of charity events important to the local market and community.

• Donation Specifics for Charitable Events • Donation in kind preferred • 501(c)3 Certificate required • All events must be approved for legal compliance

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Trade Media Advertising

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Broken Shed supports the brand by advertising in trade publications such as the Beverage Media Group Publications, AFPD Quarterly Price Book and NH Celebrates

Market Launch Digital Ads

New Market Direct mail campaign to distributor’s top premium vodka accounts

Sales Successes in USA • USA sales up over 300% in 2017

• CT sales are up 450% over the past 18 months

• Accounts selling BSV increased 1300% over the past 18 months

• 2017 Expansion

• New Jersey, Rhode Island and Kentucky

• 2018 Expansion

• JUNE: Michigan

• AUGUST: Massachusetts, Wisconsin

• SEPTEMBER: Tennessee

• OCTOBER: New Hampshire, Maine, California* (Soft Launch), Vermont*

• JAN/FEB: Nevada, Delaware, Maryland, DC, California (Full)

*Anticipated

Connecticut, the original

• The first Broken Shed market in USA

• Moved to Connecticut Distributors in May 2018

• 525 Total accounts Sold 6/14-10/11/2018

• 253 Off Premise Accounts Sold

• 272 On Premise Accounts Sold

• Cases Sold up 262% YTD over same period 2017

• Reorder Rate 81%

• Supported with 2 Brand Ambassadors

Massachusetts, New Success

• Launched Broken Shed Vodka August 2018

• 233 Total accounts Sold through 10/10/2018

• 139 Off Premise Accounts Sold

• 94 On Premise Accounts Sold

• 134 Cases Sold August – October 10, 2018

• Supported with 3 Brand Ambassadors covering MA,RI,NH,VT,ME

Moving into Control States: MICHIGAN

• Launched Broken Shed Vodka June 2018

• 513 Total accounts Sold June – September

• 327 Off Premise Accounts Sold

• 186 On Premise Accounts Sold

• 286 Cases Sold June – September

• Supported with 2 Brand Ambassadors

Financials and Corporate Events

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BROKEN SHED WILL DELIVER A WORLD CLASS VODKA AT AN ACCESSIBLE PRICE.

OUR PRICING IS SET TO POSITION OUR VODKA AS MORE PREMIUM THAN TITO'S AND AS

MORE AFFORDABLE THAN GREY GOOSE

Base Pricing Strategy

PRICING BOTTLE (750ml) CASE (750ml)

Retail $26.99 $323.88 (Recommended)

Wholesale $20.99 $251.88

Distributor $14.33 + tax $171.96 + tax (FOB)

Discounts / Promotion

/Incentive Up to $2.50 per bottle Up to $30 per case

(scaled by volume, market by market)

COGS $3.50 $42.00

Gross Profit $8.33 $99.96

Potential Sales from Current and New Distribution - 15 States

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Gross Profit Potential Cases Gross Profit 1

2016 Vodka case sales in States with existing Distribution 20,436,000

Average Market Share for a Leading Vodka Brand2 1.53% 312,000 $31,200,000

Median Market Share - 30th out of top 60 brands 0.68% 139,000 13,900,000

Sales breaching into top quartile 2.30% 470,000 47,000,000

Data source: 2017 Liquor Handbook 1) Gross Profit based on assumptions detailed on Slide 26 2) Leading 60 Brands accounting for 92% of all case sales

What is a liquor brand worth?

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Brand Year Buyer Acquisition

Price MM's

Cases when

sold M's

Per Case 2016 Cases

Sold M's

Category

Skyy 2002 Campari $793 1,100 $720 2,800 Standard

Grey Goose 2004 Bacardi $2,300 2,070 $1,100 2,708 Super-Premium

Ketel One 2008 Diageo $1,800 1,800 $1,000 2,200 Premium

Absolut 2008 Pernod Ricard $8,900 3,410 $2,610 3,900 Premium

Effen 2009 Constellation $68 25 $2,720 167 Super-Premium

Avión Tequila 2014 Pernod Ricard $138 52 $2,654 116 Super-Premium

Deep Eddy 2015 Heaven Hill $300 330 $900 1,000 Standard

High West Distillery 2016 Constellation $160 70 $2,285 N/A Super-Premium

Casamigos 2017 Diageo $1,000 120 $8,333 N/A Super Premium

Pendleton Whiskies 2017 Proximo $205 250 $820 N/A Range of products

These transactions are a representative sample of transactions for which data is available. Per Case valuation is the relevant metric because the acquirer does not carry costs below the gross profit line of the income statement and may be able to decrease COGS. Buyers are purchasing gross profit and the potential further growth.

Financial Forecasts

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Y/E Mar 18 Y/E Mar 19 Y/E Mar 20 Y/E Mar 21 Notes

Case Sales 1,765 11,924 34,170 65,350 Only includes organic growth in existing distribution network

Net Revenue $239,516 $1,689,676 $4,928,607 $9,472,957 After Price programing and sales incentives paid

Cost of goods sold $63,763 $430,695 $1,234,220 $2,360,442 Manufacture, dry goods, import

Excise tax $25,266 $60,345 $178,605 $344,790

Gross Profit $150,487 $1,198,636 $3,515,781 $6,767,725

Payroll 680,000 1,712,000 2,252,000 2,372,000 Includes Brand Ambassadors in every State sold

Advertising / Marketing 195,000 996,600 1,400,000 1,950,000 Agency, materials, events

Total SG&A 1,007,421 3,114,471 4,281,189 5,157,222 (Payroll + A&M) plus, service fees, IT, insurance, etc

Financial Forecasts

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Y/E Mar 18 Y/E Mar 19 Y/E Mar 20 Y/E Mar 21 Notes

Operating Profit -856,934 -1,915,835 -765,408 1,610,503 Carried forward from previous slide

Cash Start N/A 250,000 635,000 869,000

Financing 1,175,000 2,300,000 1,000,000 0

Cash End 250,000 635,000 869,000 2,480,000

Financial Model - Commentary • To date over $4m USD has been invested into Broken Shed (BSV).

• BSV believes that its model becomes meaningfully cash positive at 40,000 cases.

• BSV believes that beyond 50,000 cases more than 75% of revenues will convert to free cash flow

• Over the next 24 months BSV expects sales to grow to 60,000 cases or more.

• Having established the USA model in CT the roll out to the current 5 states began in Sept 2017.

• BSV has agreed market leading distribution in an additional 10 states

• The BSV model will evolve to include additional states throughout 2018 and continuing into 2020, adding significant case sales.

• The BSV model is built on a conservative approach to revenues and promotional spend. The approach to costs is similarly conservative and assumes a rapid deployment of costs and infrastructure.

• We use the BSV model for active cash planning and budgeting and it is intended to be a guide toward ongoing cash requirements.

• The BSV model is not a “blue sky” scenario

• BSV 5 year target is 400,000 cases per annum

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Corporate Structure and Service providers

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Broken Shed Distilleries, Inc

Control vehicle, Delaware C Corp, owns 100% of Broken Shed Ltd

Broken Shed Ltd A NZ company, the operating entity. Owns all assets, tangible and intangible (everything Broken Shed), makes sales and incurs costs, worldwide.

MHW MHW is the industry leading compliance, back and middle office service provider to the wines and spirits industry in the USA.

Provide full service support for inventory management, excise taxes, invoicing, receivable collection, payment processing, delivery and all compliance functions in the USA

McCulloch + Partners Queenstown, NZ - accountants. Process management accounts on Xero from source documents (MHW, bank accounts etc) and prepare

quarterly and annual financial statements for both Broken Shed Ltd and Broken Shed Distilleries, inc.

Deloitte Prepared intercompany services agreement and group structure / tax planning

DiRusso + Brooks

New Canaan, CT - General Counsel to the Broken Shed group of companies

Galloway, Cook, Allan

NZ local legal counsel

Location

Broken Shed Distilleries, Inc.

PO Box731

Southport, CT 06890

Phone Samuel A. Brown +1 (203) 858-0558

Jonathan Bailey +1 (646) 891-6477

Jean-Marie Heins +1 (914) 282-0457

Steve Bellini +1 (516) 429-7224

Email SAB@BrokenShed.com

JB@BrokenShed.com

JMH@BrokenShed.com

Steve@BrokenShed.com

Contact us