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COWEN COLLABORATIVE INSIGHTS February 25, 2019 Confection products are diverse, which we classify as essentially any edible food falling outside of gummy vitamins. Of the brands analyzed, super-premium brand, beceae offered by far the most SKUs (15), which largely consist of chocolates and other baked goods. We would caveat that although Lord Jones products fall into the premium segment as part of this analysis, if we were to benchmark them against the broad gummies category, they would’ve been at the top of the super-premium range. Figure 93 Confections Are Broad Based $0.50 ai $0.40 $0.30 $0.20 $0.10 $0.00 baceae Super Premium (> $0.38) $0.29 Lord Jones Premium ($0.29-$0.38) CBD Confections by Price Segment $0.19 gronCBD Main ($0.19-$0.28) Hemp Bombs Mr. Moxey's Experience CBD Value (< $0.19) MR. MOXEYS Source: Company Websites/Reports and Cowen and Company Note: Reflects price per mg of CBD; For companies with multiple SKUs, we used a straight line average Figure 94 CBD Bars Broadly Comprised Of Protein, Power, Energy And Granola Offerings $0.70 $0.80 $0.60 $0.40 $0.20 $0.00 $0.60 eggimins Green Monkey Super Premium (> $0.57) ase $0.48 Snaac CBD Premium ($0.44-50.57) CBD Bars by Price Segment $0.40 $0.34 $0.32 $0.32 Main ($0.30-$0.43) $0.25 baceae |CasaLuna Wise Bar Wayward Everhemp| VeloBar ShrediblesPure Vida $0.25 $0.20 $0.19 $0.16 Mary Betty Gains Bar Khronic Value (< $0.30) Source: Company Websites and Cowen and Company Note: Reflects price per mg of CBD; For companies with multiple SKUs, we used a straight line average 50 COWEN.COM HOUSE_OVERSIGHT_024866