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THE DUCKHORN PORTFOLIO, INC.

(NAPA)
  Report
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Duckhorn Portfolio : Read it here

11/23/2021 | 04:10pm EST

RESPONSIBILITY

AND

SUSTAINABILITY

REPORT

2021

Photo by: Wildly Simple Productions

CON T E N TS

Shaped by our History.....................................................

2

Focused on the Future....................................................

3

Welcome to Duckhorn....................................................

4

SOCIAL.................................................................................

11

Our People.....................................................................

12

Benefits, Rewards & Recognition..........................

13

Talent Development...................................................

14

Diversity and Inclusion..............................................

15

Employee Feedback..................................................

16

Health and Safety.......................................................

17

Our Response to COVID-19.....................................

18

Promoting Responsible Enjoyment.....................

19

Our Tasting Rooms................................................

19

Our Advertising.......................................................

19

Our Direct-To-Consumer Service.....................

19

Contributing to Our Communities...........................

20

ENVIRONMENTAL...........................................................

21

Land Stewardship......................................................

22

Vineyard Practices................................................

23

Grower Partners.....................................................

24

Risk Mitigation........................................................

24

Water Stewardship................................................

25

Energy Management............................................

26

Climate Change and TCFD.....................................

26

Quality Management................................................

27

Responsible Packaging and Waste.....................

28

GOVERNANCE................................................................

29

Board of Directors.....................................................

30

Enterprise Risk Management.................................

31

ESG Governance.........................................................

32

Data Security and Customer Privacy.................

33

Glossary.........................................................................

34

Gap's Crown Vineyard Sonoma Coast, CA

SHAPED BY OUR HISTORY

ALEX RYAN

President,

Chief Executive Officer

and Chairman

Photo by: Wildly Simple Productions

Our initial public offering in March of this year was a watershed moment for The Duckhorn Portfolio. More than simply charting a new, dynamic course for our company's future, it was a powerful and prescient reminder of the vision and values that have guided us for the past 45 years. Since our founding by Dan and Margaret Duckhorn in 1976, we have prided ourselves on being good stewards of the land, champions of our employees and positive agents of change in the communities we call home.

There are many dimensions to our business, but at heart, we are a traditional, agricultural- based company. With 30 world-class estate vineyards and hundreds of grower partners, we know that our future is intrinsically tied to our relationship with the land. America's greatest vineyards - sites like our own famed Three Palms Vineyard - are nationally renowned. Realizing their full potential can take decades, and ensuring their vitality for generations to come through our winegrowing practices is both virtuous, and integral, to our long-term success. This is why we champion sustainable farming practices, making the long-term health of our vineyards, our environment and the planet a priority.

While a sustainable vineyard program is central to our mission of producing some of the world's finest luxury wines, our 400+ employees are The Duckhorn Portfolio's greatest strength. As someone who began my career removing rocks from our vineyards for $5 an hour and rose through the ranks to CEO, I am both profoundly aware of, and indebted to, the culture that nurtured and supported both my personal and professional growth.

In addition to dedicating significant resources to being a supportive and empowering force for positive growth in the lives of our employees, we established a Volunteer Time Off program, which gives most full- time employees eight hours paid time

off each year to volunteer at a charitable organization of their choosing, so that they

can contribute to their communities. We also chartered The Duckhorn Portfolio Founders Fund, which has already awarded more than $100,000 in grants to local organizations that support educational opportunities. As an equal-opportunity employer that views a diversity of backgrounds, perspectives and life experiences as both a strength and a key driver of innovation, we also developed in-house,company-wide Diversity and Inclusion training program to ensure all of our employees, as well as our customers and trade partners, are treated with fairness, respect and dignity.

Our inaugural Sustainability and Responsibility Report is both a testament to what we have already achieved, and a baseline from which to work from as we look toward the future. Our commitment to the environment, our employees, the broader communities in which we live and work and good governance is continuously evolving. In this era that favors trusted brands that exhibit integrity and sound values, we believe companies like The Duckhorn Portfolio will be best positioned to thrive. By creating realistic benchmarks for performance, acknowledging areas in which we can improve and building on our strengths, we will continue to strive to be at the forefront of corporate responsibility, while contributing to a healthier planet and a more fair, equitable and inclusive wine industry.

The Duckhorn Portfolio Responsibility & Sustainability Report

2

FOCUSED ON THE FUTURE

SEAN SULLIVAN

Executive Vice President,

Chief Administrative Officer

and General Counsel

Photo by: Wildly Simple Productions

"Time and tide wait for no man." English poet Geoffrey Chaucer wrote these words over

600 years ago, but they still beautifully and succinctly remind us today that of all the resources we value, time may be the most precious. As we reflect on our history, we are inspired by the entrepreneurial spirit of our founders. We draw inspiration-and a sense of urgency-from their stories and the realization that vast opportunities lie before us. As we look to the future, we are committed to enhancing our thoughtful stewardship of the land, championing our employees and communities in new ways and reinforcing our commitment to responsive and transparent corporate governance. Most importantly, we are conscious that the time to act is now.

This inaugural Responsibility and Sustainability Report represents the culmination of our work over the past 45 years establishing a baseline against which we can measure our progress and a first look at how we see our ESG initiatives evolving in the years to come. While our initial public offering in March was certainly a headline event for our company, we are proud to have made meaningful progress across a number of key ESG initiative areas this year:

  • Over the course of the summer, we started transitioning our consumer packaging
    to BioFoam, a biodegradable packaging material made from organic matter.
  • Our Employee Stock Purchase Program is launching next month, a new opportunity for our colleagues to be a part of our ownership culture and further aligning the interests of our employees and our stockholders.
  • Our management team, working in conjunction with our Audit Committee, completed our annual enterprise risk identification, monitoring and mitigation assessment under our new comprehensive framework of analysis.

Today, we are at a turning point. Over the next year, we plan to determine the areas in which quantitative and qualitative goals can help us organize our efforts, set targets and develop implementation plans to achieve those results. We hope that you will keep in touch with us as we provide updates on our progress in The Duckhorn Portfolio's periodic reports, on our quarterly earnings calls and in other communications. Next fall, we will publish our second Responsibility and Sustainability Report, discussing our work and future goals with respect to myriad topics, including land stewardship, employee development, community enhancement and transparent governance.

I would like to gratefully acknowledge the many individuals who devoted their time and talent to preparing and publishing this report. It takes deliberate and thoughtful teamwork to achieve a result that celebrates many perspectives and speaks with one collective voice-not unlike the work we do every day to make great luxury wine.

Enlighted and enlivened by a shared understanding of the progress we have made and the work yet to be done, all of us at The Duckhorn Portfolio are honored to present this inaugural Responsibility and Sustainability Report to you. We hope you'll find learning more about our efforts in these areas time well spent.

The Duckhorn Portfolio Responsibility & Sustainability Report

3

WELCOME TO

DUCKHORN

The Duckhorn Portfolio is the premier scaled producer of luxury wines in North America. We have delighted millions of consumers with authentic, high-quality, approachable wines for over four decades. Founded by our namesakes Dan and Margaret Duckhorn in 1976, we began by pioneering Merlot wines in Napa Valley and now produce a curated and comprehensive portfolio of highly acclaimed luxury wines across multiple winery brands, varietals, appellations and price points.

MISSION

To have our wines poured and enjoyed wherever fine wines are served throughout North America and the world.

Duckhorn Vineyards Tasting Room

Napa Valley, CA

Welcome

Social

Environmental

Governance

The Duckhorn Portfolio Responsibility & Sustainability Report

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

The Duckhorn Portfolio Inc. published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 21:09:05 UTC.


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Financials (USD)
Sales 2023 398 M - -
Net income 2023 69,4 M - -
Net Debt 2023 204 M - -
P/E ratio 2023 26,9x
Yield 2023 -
Capitalization 1 870 M 1 870 M -
EV / Sales 2023 5,22x
EV / Sales 2024 4,72x
Nbr of Employees 446
Free-Float 96,6%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 16,27 $
Average target price 19,22 $
Spread / Average Target 18,1%
EPS Revisions
Managers and Directors
Alex Ryan President & Chief Executive Officer
Lori Beaudoin Chief Financial Officer & Executive Vice President
Zach Rasmuson Chief Operating Officer & Executive Vice President
James Lewis O'Hara Independent Director
Deirdre A. Mahlan Independent Director
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