On August 13, 2018, Truett-Hurst, Inc., (“Truett-Hurst”), and H.D.D. LLC, and Truett-Hurst's consolidated subsidiary (“HDD” and, together with Truett-Hurst, the “Company”), entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Precept Brands LLC, a Washington limited liability company (“Precept”) pursuant to which the Company has agreed to sell certain assets comprising its wholesale wine business (the “Business”) to Precept (the “Transaction”). In connection with the Transaction, Truett-Hurst, Inc. is announcing the following changes to its executive leadership: Mr. Phillip Hurst, President and Chief Executive Officer of the Company, will be resigning from his position with the Company effective November 1, 2018. Mr. Paul E. Dolan, III has been appointed as the Company's President and Chief Executive Officer effective November 1, 2018.

Mr. Dolan, age 67, currently serves as a director of the Company.