Mr. Andrew Howard reports

DIAMOND ESTATES WINES & SPIRITS INC. TO HOLD A SPECIAL MEETING OF SHAREHOLDERS ON DECEMBER 22, 2025

Diamond Estates Wines & Spirits Inc. will hold a special meeting of its shareholders on Dec. 22, 2025, at 9 a.m. EST.

Matters to be considered at the meeting will include the approval and ratification of the licence agreement of May 10, 2024, between Diamond Estates Wines & Spirits Ltd. (a 100-per-cent-owned subsidiary of the company) and 3346625 Canada Inc. (Lassonde Holdings), the holding company of Pierre-Paul Lassonde, a control shareholder of Lassonde Industries Inc., two related parties of the company, as it relates to, among other things, royalty rates paid by Diamond Ltd. to Lassonde Holdings based on sales of D'Ont Poke the Bear brands, and also options given by Lassonde Holdings to Diamond Ltd. to acquire the DPTB trademarks at certain times. The licence agreement was previously announced by the company in a news release dated May 13, 2024.

Further information about the meeting and the matters to be considered will be included in the management information circular being provided in connection with the meeting. The notice of meeting, circular and related proxy materials will be filed on the company's website and on the company's SEDAR+ profile by Nov. 28, 2025, and provided to shareholders.

About Diamond Estates Wines & Spirits Inc.

Diamond Estates is a producer of high-quality wines and ciders, as well as a sales agent for over 120 beverage alcohol brands across Canada. The company operates four production facilities, three in Ontario and one in British Columbia, that produce predominantly VQA wines under such brand names as 20 Bees, Creekside, D'Ont Poke the Bear, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh Wines, Red Tractor, Seasons, Serenity and Backyard Vineyards.

Through its commercial division, Trajectory Beverage Partners, the company serves as the sales agent for a wide range of leading international beverage brands.

Wine portfolio

Trajectory represents renowned wine brands, including Fat Bastard and Gabriel Meffre from France; Kaiken from Argentina; Kings of Prohibition from Australia; Yealands, Kono, Tohu and Joiy sparkling wine from New Zealand; Talamonti and Cielo from Italy; Porta 6, Julia Florista, Boas Quintas, Catedral and Cabeca de Toiro from Portugal; and C.K. Mondavi & Family, Charles Krug, Line 39, Harken, FitVine, and Rabble from California. Trajectory also represents a broad portfolio of wines sold exclusively to restaurants, bars and private consumers.

Spirits portfolio

The company also represents distinguished spirit brands such as Tag vodka, Ginslinger gin and Barnburner whisky from Ontario; Cofradia tequila and Hussong's tequila from Mexico; Islay Mist and Waterproof blended Scotch whiskies from Scotland; Glen Breton Canadian whiskies from Nova Scotia; Five Farms Irish cream liqueur and Broker's gin from the United Kingdom; Tequila rose strawberry cream, 360 vodka and Holladay bourbon from the United States; Giffard liqueurs from France; and Becherovka from the Czech Republic.

Beer, cider and ready-to-drink portfolio

In the beer, cider and ready-to-drink categories, Trajectory represents Bench beer, Henderson beer, Niagara craft cider, TAG and Ginslinger RTDs, and Darling mimosas from Ontario; Rodenbach beer from Belgium; La Trappe beer from the Netherlands; and Warsteiner beer from Germany.

We seek Safe Harbor.