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COWEN COLLABORATIVE INSIGHTS February 25, 2019 Figure 120 Nine West Products Powered By Tilray a i 1S wa = fn Zz Zz Source: Cowen and Company; Sourcingjournal.com Tilray will also gain exposure to ABG’s 150MM followers through its micro-influencer network, Winston. Tilray will have the ability to display its name on ABG cannabis products. Tilray will initially pay ABG $100MM and up to $250MM in cash in stock. In return ABG will pay TLRY 49% of revenues from any cannabis products with any ABG brand name, with a minimum of $1OMM/year for 10 years, essentially guaranteeing TLRY will receive a return on its initial S100MM investment. This type of deal opens the door for CBD products to partner with IP ownership to expand brands and CBD use partnerships. DSW And Green Growth Brands Green Growth Brands’ CBD infused Seventh Sense products, including foot creams and muscle balms, will be sold at 96 DSW stores nationwide out of DSW’s 500-store base. As the sale of CBD wellness products become widely acceptable and stigma around once illegal products subsides, opportunity should increase to move into other nationwide retailers. Under our coverage universe, Dick’s Sporting Goods may have the potential to offer wellness products containing CBD. DKS has a total of 864 stores nationwide. If DKS were to offer products in a similar percentage of stores as DSW, this would provide 166 incremental distribution points for CBD wellness products. COWEN.COM 73 HOUSE_OVERSIGHT_024889