COWEN COLLABORATIVE INSIGHTS February 25, 2019 Figure 72 Recess Offers Impressive Packaging Figure 73 Sprig Offers A Variety Of Flavor Options a g - = = = ——— ae “ : — ) omer ——- —a — 3 piste wee er s+) es Eg: (S2ESre — a goog. OSE Sage OSE Sa Fe “a ; chberty chal a ar y ti a* aw { = | iy ZERO SUGAR e IV x0 sv0m e dsucaR @ a - DpAdl pr pri q pri brig = UK KKK AAMM ‘Smile M ‘Smite More. @J. | ‘Smite More. (J. 'Smite More. @y- = a) cI 22 ng wat ined i Ce Ca y eLON 80 a — : Q conanrusen | amcina cirmus son 8 . = i — i ss 3) ees —]S}HAESE~—— ——————EE—___{ fe) Source: Company Reports Source: Company Website = fe) SS SS 3 Figure 74 Shots May Overlap with Energy Over Time Figure 75 Willie’s Recently Came to Market with a Coffee = i) \ . a “ ae SSSSSSSSSSSSS = Za y aA LIE. y = ——, a Bh ek te, “fle 9 ¢(relivayy jm gt = j\ A | aati" I io} &\ Le Le. (aa = <> __4# 6 1) Se > } ope ivi Lath a || = CBD ja ra 6 AN j a RECOVERY SHOT AwiyOLE ec f ° 50mg Aer corr. ON ad RELAX | TCD | an ot. ) cal xo) 0% THC | <i Eo a ETAR PPLEMEN a = 202 (60 mi) q Pa Source: Company Website Source: Company Website COWEN.COM 43 HOUSE_OVERSIGHT_024859