The Duckhorn Portfolio, Inc. (NAPA) Announces 5M Share Secondary Offering

The Duckhorn Portfolio, Inc. (NYSE: NAPA) today announced that Mallard Holdco, LLC (the “Selling Stockholder”) intends to offer for sale in an underwritten secondary offering (the “Offering”) 5,000,000 shares of common stock of the Company pursuant to a shelf registration statement on Form S-3 filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”). The Selling Stockholder expects to grant the underwriter a 30-day option to purchase up to an additional 750,000 shares of common stock on the same terms and conditions. No shares are being sold by Duckhorn. The Selling Stockholder will receive all of the proceeds from this offering.

Credit Suisse Securities (USA) LLC is acting as the underwriter for the proposed offering.

The underwriter proposes to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to its right to reject any order in whole or in part.

A registration statement relating to these securities has been filed with the SEC and has become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus for the offering, when available, may be obtained from: Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC, 27560, by telephone at 1-800-221-1037 or by email at [email protected].

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