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THE CHIVAS VENTURE 2020 COMPETITION

LOCAL TERMS & CONDITIONS - AUSTRALIA

OVERVIEW

1. "The Chivas Venture" is a global competition being run by Chivas Brothers International Limited, a company incorporated in Scotland with company number SC646563 (the "Global Promoter") to find businesses that wish to have a positive impact on society (the “Competition”).

2. The Competition has two phases:

a) Phase 1 (the “Local Competition”) will find winners in participating countries including Australia. Applications for the Local Competition will be accepted from 09:00am GMT on 10th September 2019 until 23:59pm GMT on 31st October 2019 (the “Promotional Period”) with a local winner being selected by 31st January 2020. Phase 1 shall be governed by the Local Terms & Conditions (the “Local Terms”) and administered by the Local Promoter (as defined in clause 2 (c) below) under Australian law.

b) Phase 2 (the “Global Competition”) will have the Local Competition winners competing against each other and comprises two stages:

i. the Voting Period which involves the allocation of US$100,000 of the Fund based on the consumer voting results; and

ii. attendance at The Chivas Venture Global Final (on a date and at a location to be confirmed by the Local Promoter) with a chance to win part of the Fund as follows:

Quarter Finals: Judges will select up to 10 successful candidates to proceed to the Semi-Finals. The eliminated finalists at this stage will win an equal share of $50,000.

Semi-Finals: Judges will select 5 candidates to proceed to the Grand Final. The eliminated semi-finalists will win an equal share of $100,000.

Grand Final: $750,000 to be allocated to the final 5 finalists, as dictated by the judges in their discretion as to the recipients and the proportions awarded.

There may be some mentoring opportunities provided by the Global Promoter, to be confirmed by the Local Promoter, to be confirmed to the Local Competition winners.

Dates, formats/mediums of participation and/or locations for the Global Competition will be finalised and communicated to shortlisted applicants for the Local Competition by the end of December 2019. Phase 2 shall be governed by the Global Terms and Conditions (the “Global Terms”) and administered by the Global Promoter under the laws of England and Wales and the exclusive jurisdiction of the English courts. All applicants in the Local Competition are deemed to agree to the Global Terms when they enter the Competition.

c) In Australia the Local Competition is being run by Chivas Brothers International Limited, a company incorporated in Scotland with company number SC646563 (the “Local Promoter”). The Local Promoter is legally responsible for all aspects of the Local Competition and can be contacted at contactus@chivasregal.com.

3. No purchase is necessary to enter or win the Competition.

ELIGIBILITY

4. The Australian Local Competition is open to any for-profit legal entity (an “Entrant”) that is duly established under the laws of Australia and that:

a) is seeking, through its business operations, to make a positive impact or benefit to society or the environment, contributing towards at least one of the United Nations Sustainable Development Goals listed at the following link: https://sustainabledevelopment.un.org/sdgs ; and

b) generated no more than US$1.5 million (or local currency equivalent) in revenue between 1st September 2018 and 1st September 2019 (excluding grants, prizes, and investments such as debt and equity).

5. Entries should be submitted by a founder or employee of the Entrant who is aged 21 years or older as at 31st October 2019 (the "Representative"). The Representative shall, for purposes of the Competition, be

a) the sole representative of the Entrant (including in relation to any submissions, presentations, interviews etc) for the entire duration of the Competition unless agreed otherwise in the sole discretion of the Global Promoter and the Local Promoter;

b) deemed to be a legally authorised representative of the Entrant; and

c) the Representative must be fully proficient in English as the Application form must be completed entirely in the English language and The Chivas Venture Global Final will be delivered entirely in the English language. No translators or translations will be provided or permitted at this stage;

6. In these Local Terms the term “Entrant” shall include both the entrant company and the Representative unless the context otherwise requires. For the avoidance of doubt, the Global Promoter and the Local Promoter shall only consider a request to change the Representative in exceptional circumstances and shall not be obliged to agree to do so. The Global Promoter and Local Promoter reserve the right to disqualify any Entrant whose Representative is not available to represent the Entrant in any phase of the Competition.

7. For the avoidance of doubt, Entrants may be at one of the following startup stages:

Seed Stage: the product is still in prototype stage and the business isn’t generating revenue from customers/users yet.

Start-up Stage: the Entrant has a working prototype or minimum viable product and is either ready for market entry or already has some paying customers, ideally with some demonstrable user traction.

Growth Stage: the Entrant is focusing on scaling an already validated proposition (i.e. shows significant user traction and sales).

8. Please note that because the Local Promoter and the Global Promoter are alcohol companies the Competition is not open for applications from businesses which solely or primarily involve the marketing or selling of products or services to those under the age of 18.

Please also note the details of clause 31 of the Global Terms regarding repaying the money in specific circumstances.

9. The Competition is not open to entry by the following:

a) officers, directors and employees and their immediate families (which includes parents, children, spouses or siblings and their respective spouses, regardless of where they reside) of the Local Promoter or the Global Promoter; or

b) Those living in their same households, whether or not related, of the employees or workers of the Local Promoter or the Global Promoter, nor of the Global Promoter‘s or the Local Promoter’s parent company, affiliates, subsidiaries and advertising and promotion agencies, whether on behalf of themselves or any legal entity in which they have any ownership interest.

10. If at any stage of the Competition the Local Promoter or the Global Promoter is informed or discovers that an Entrant or Representative does not meet the criteria set out in clauses 3 to 8 above the Local Promoter or the Global Promoter may disqualify the Entrant with immediate effect.

11. By entering the Local Competition the Representative agrees, should it win the Local Competition, it will be bound by the Global Terms which govern the next phase of the Competition. The Representative may be required to provide a signed copy of the Global Terms upon request.

12. Entrants should not enter unless they can participate in and travel to (where applicable) the Global Competition events and are prepared and able to comply with the Global Terms if they are the Australia Local Winner. For the avoidance of doubt, the Representative must be eligible to travel to any country where any Competition event is scheduled to take place and Entrants shall take full responsibility for and bear all costs relating to arranging any travel documentation (including passports or visas) required to allow such travel by the Representative.

KEY DATES FOR LOCAL COMPETITION

13. The key dates for the Competition are as follows:

Australia application process opens 09.00 GMT 10 September 2019

Applications for Australia close 23.59 GMT 31 October 2019

Australian Finalists confirmed by No later than 20 December 2019

Finalists attend Australia final in Pernod Ricard Australia No later than 31 January 2020

Australia Local Winner selected and notified No later than 31 January 2020

THE ENTRY PROCESS

14. The launch date of the Local Competition is 10 September 2019 at 9am GMT and entries will be accepted from this date. The closing date of the Local Competition for Australia is October 31st, 2019 ay 23:59 GMT. No further entries will be accepted after the stated closing date.

15. Representatives should complete, during the promotional period, the application form at www.chivasventure.com or www.chivas.com/en-AU/the-venture supply the information and materials listed on this web page. As part of the entry process Representatives will be required to complete a set of questions on the application form. The Local Promoter may contact the Representative to clarify certain elements of the application form.

16. No payment or purchase is necessary to enter or win the Competition. Only one entry may be submitted per person.

17. Entries will only be accepted on the official website using the official entry form.

THE SELECTION AND JUDGING PROCESS

15. All valid entries received from Entrants will be assessed against the details on the application form and any other information requested and then shortlisted and judged by a panel of judges, which may include any professional advisors deemed necessary by such judges, (together the “Judges”) and which will include at least one Judge who is not an employee of the Local Promoter or the Global Promoter.

16. The following judging criteria will be considered when evaluating entrants:

Market opportunity and need:

Demonstrates that the business is tackling a clear and large social and/or environmental issue, has strong market potential, clear target customers and beneficiaries, and is aware of alternative solutions and competitors.

Business model and team:

Presents a compelling solution and value proposition, with a sound business model that can generate sustainable revenue, while creating social / environmental impact.

Demonstrates that the business has the right team in place to succeed (skills, experience, commitment).

Measurable social impact:

Demonstrates that business activities will lead to the desired social / environmental impact (Theory of Change), with clear impact metrics, KPIs and goals. Shows that the business will make a significant difference to the problem (transformational vs incremental change).

Scalability potential:

Displays a strong vision and demonstrates that the business has potential to significantly scale its revenue and its social / environmental impact.

Financials:

Presents sound financial projections, and well-justified Chivas Venture funding request (up to $750,000), that is likely to be catalytic of substantial growth in terms of impact /revenue / customers.

Quality of the pitch and passion of the Representative: (at final stages only)

High quality presentation delivered with passion by the Representative.

17. The following stages will apply and will constitute the “Selection Process” in order to select 3 to 5 Entrants to proceed for each country participating in the Local Competition:

Stage 1 - Application and screening process:

The applications will be subject to an initial screening by the Global brand team and their independent expert consultant based on the criteria set out in clause 16 and 3-5 Entrants will be shortlisted to proceed as finalists based on the Global Competition criteria.

Stage 2Interview of top candidates:

The top 3 - 5 Entrants may be interviewed by the selected representatives of the Global brand team and their independent expert consultant either by telephone, video or in person depending on their location to confirm they meet all the required criteria set out in clause 16.

Stage 3 - Selection of “Local Finalists”:

Based on the interview, together with all information received in advance, 3 to 5 of the best Entrants will be selected as finalists of the Local Competition (the “Local Finalists”). The Local Finalists shall be contacted by post, telephone and/or email.

Stage 4 - Confirmation of the “Local Winner”:

The Local Finalists may be interviewed by the Judges and by selected representatives of the Local Promoter, either by video, telephone or in person at a local final pitch event depending on their location. Based on the interview or pitch performance, together with all information received in advance, one winner will be selected by the Judges as the winner of the Local Competition (the “Local Winner”). The Local Winner shall be contacted by post, telephone and/or email.

18. If a Local Finalist does not respond to any notification by the Local Promoter within the time period specified by the Local Promoter, or if a Local Finalist cannot be verified within the time required or if a Local Finalist is otherwise unable to accept their status as a Finalist or if their Representative cannot attend or participate in any required Competition event or is otherwise ineligible, their selection as Local Finalist will be forfeited and an alternative Local Finalist may be selected from reserve Local Finalists judged at the same time, at the Local Promoter's sole discretion.

19. Any application that is found, at any time during the Selection Process, not to fully comply with these Local Terms or that otherwise contain prohibited or inappropriate content as determined by the Local Promoter, in its sole discretion, may be disqualified. The Local Promoter shall have sole and final determination as to which applications are eligible to take part in the Competition and no correspondence will be entered.

This is a game of skill; chance plays no part in determining the Local Finalists and the Local Winner.

20. Local Finalists will be required to provide proof of age and identity.

21. The name of the Australian Winner will be announced by no later than 31st January 2020.

CONFIDENTIALITY

21. The Local Promoter does not solicit nor do they wish to receive any confidential or secret information or material about the Entrant. Any information or material submitted by the Representative will be deemed not to be confidential or secret. The Local Promoter and the Global Promoter will not, however, publicly share financial information or other sensitive business information which is clearly indicated to be confidential when submitted by the Representative without the consent of the Representative.

22. The Local Promoter reserves the right to conduct further background checks on the Entrants, the Representatives and their business ideas. This may include, without limitation, civil and criminal court records and police reports on the Entrants, Representatives and entity directors. By entering the Competition Representatives give the Local Promoter permission to conduct such background and financial and criminal checks and, if necessary, shall provide such written authorisation as may be required to allow these to be carried out. The Local Promoter reserves the right, at its sole discretion, to disqualify any Entrant or Representative that fails to authorise such background checks or if, based on the results of the checks, the Local Promoter determines in its sole discretion that the Entrant or Representative is not suitable to participate in the Competition, including, without limitation, because the participation of the Entrant or the Representative in the Competition might reflect negatively on the Local Promoter and/or the Promoter or their related group companies.

CONFIRMATION OF ELIGIBILITY BY ENTRANTS

23. By entering the Competition the Representative confirms that:

a). The Entrant (including the activities thereof) does not and will not violate the rights of any third party;

b) neither the Representative, the Entrant nor any of its directors or officers have ever been convicted of fraud, been bankrupt or disqualified from acting as a company director;

c) the Entrant and its directors has not and will not carry out any act or omission which may or does (in the sole discretion of the Local Promoter and Promoter) bring the Local Promoter or Promoter into disrepute; and

d) the Entrant and its business has and will at all times comply with the Pernod Ricard Code for Commercial Communications.

DATA PROTECTION

24. By entering the Competition the Representative consents to the processing of any personal data it provides during the application process or throughout the Competition in accordance with this clause 24. The Local Promoter and where applicable, the Global Promoter will collect and process (including, for the avoidance of doubt, sharing with their affiliate companies and their independent expert consultant, details of which will be available from the Chivas Global brand team. Any personal data collected as part of the competition entry process in accordance with the Local Promoter’s privacy policy available at https://www.chivas.com/en-AU/legal/privacy-policy and the Promoter’s global privacy policy available at https://www.chivas.com/legal/privacy-policy. Subject to any marketing consents given, the Local Promoter and the Global Team will only process such personal data for the purposes of running the Competition in accordance with these Local Terms and the Global Terms.

The Entrant’s Personal Information is being collected by the Local Promoter and the Global Promoter to include entrants in the competition and where appropriate award prizes. If the Local Promoter is to disclose information to an overseas recipient, it is likely to be one of the countries identified in its privacy policy. If the Entrant consent to receive news and promotional information regarding Chivas and other Pernod Ricard brands, the Entrant’s information may be made available to other entities of the Pernod Ricard Group. The Entrant can unsubscribe at any time.

25. By entering the Competition the Representative:

a. consents to the processing of any personal data it provides during the application process or throughout the Competition in accordance with clause 24; and

b. that it has obtained the consent from any individuals whose personal data it submits either during the application process or during the Competition.

MARKETING AND PROMOTION

26. By entering the Competition Representatives agree to comply with this clause 25 should they become a Local Finalist. Representatives agree to participate in any reasonable promotional and publicity activities to be determined by the Local Promoter or the Global Promoter to promote the Competition for advertising, trade and promotional purposes anywhere in the world, either during or after the Competition (“the Promotional Activities”). The Promotional Activities could include but are not limited to use of the Entrant’s business name, address, trademarks and logos; and the Representative’s name, photographs, voice and/or other likeness. The Global Promoter shall own all right, title and interest in and to any promotional materials.

27. No compensation (other than travel or other expenses approved in advance by the Local Promoter or the Global Promoter) will be paid to the Representative or the Entrant for their participation in the Promotional Activities and the Representative will have no right of review for any Promotional Activities.

THE PRIZE

28. The Australian Local Winner shall receive:

a) a place for the Representative at The Chivas Venture Global Final, scheduled to take place between March and July 2020 at a location to be confirmed. The prize includes the following for the Representative only:

i. return economy flights from Australia

ii. 5 nights’ accommodation in a hotel selected by the Promoter;

iii. airport transfers at the destination to and from the relevant hotel and any necessary transfers to Competition events during The Chivas Venture Global Final week; and

iv. breakfast, lunch and dinner during The Chivas Venture Global Final week.

There may also be some mentoring opportunities, to be offered entirely at the discretion of the Local Promoter and/ or Global Promoter. The exact details of such opportunities, if offered, together with any criteria for participating in them and all details regarding location, costs and expenses, will be confirmed by the Local Promoter or the Global Promoter before the end of December 2019. Should such opportunities be offered they will be governed by these Local Terms.

29. In respect of the Chivas Venture Global Final, the Local Winner must pay the cost of transport to and from his/her originating airport, travel insurance, any other travel related costs not specified above (including without limitation excess baggage charges, obtaining passports and visas), and for any other costs or expenses not specified above in clause 28. Please note that any costs arising from any room service, mini-bar or other charges at the hotel will be incurred at the expense of the Local Winner.

30. All reservations and travel arrangements shall be with suppliers selected by the Local Promoter in its sole and absolute discretion. All arrangements will be made through a travel agent selected by the Local Promoter. Travel dates once arranged are not changeable and non-transferrable. Airline tickets are non-refundable, non-transferable, and are not valid for upgrades.

31. The prize may not be substituted, replaced or combined with any other offer and travel may not qualify for frequent flyer miles. The prize is not assignable, substitutable or transferable by the Local Winner.

COMPLIANCE WITH PERNOD RICARD CODE FOR COMMERCIAL COMMUNICATIONS AND ABAC CODE

31. The Local Promoter and the Global Promoter are part of the Pernod Ricard group, and they promote a moderate and responsible approach to the consumption alcohol. You agree that if you are selected to participate in the Local Competition, including travelling to and from the Global Final, you agree to comply with the Pernod Ricard Code for Commercial Communications (viewable at www.pernod-ricard.com) and the ABAC Responsible Alcohol Marketing Code including, without limitation, that you will not:

Your entry must also comply with the PR Code and the ABAC Code and an entry will not be accepted as a valid entry if, in the opinion of the Local Promoter, it:

• encourages underage drinking, has a strong or evident appeal to minors or features anyone who is, or looks, under 18;

• depicts or encourages irresponsible or offensive behaviour, excessive drinking or the misuse of alcohol;

• challenges or dares people to drink alcohol;

• associates drinking with engaging in any activity which requires a high degree of physical co-ordination, such as driving or playing sport;

• suggests that alcohol leads to success or can significantly change your mood or environment;

• suggests that alcohol offers any therapeutic benefits or is necessary to relax;

• contains religious imagery;

• is offensive, anti-social, sexually provocative, discriminatory, exploitative or degrading; or

• is misleading, deceptive, false, illegal or breaches anyone’s intellectual property right.

GENERAL CONDITIONS

32. The Local Promoter and the Global Promoter are not responsible for:

a) entries or other communications that are misdirected, lost, delayed, damaged or corrupted during delivery to or from the Local Promoter due to any computer malfunction, virus, bug, delay, erroneous or any other reason whatsoever;

b) lost, interrupted or unavailable network, server, telecommunications, Internet Service Provider (ISP), website, or other connections;

c) computer hardware or software malfunctions, failures or difficulties;

d) any incorrect or inaccurate information, whether caused by human error, site users, tampering, hacking, or by any equipment or programming associated with or utilised in the Competition;

e) injury or damage to Representatives' or to any other person's computer related to or resulting from participating in the Competition or downloading materials from or use of the Local Promoter’s or the Global Promoter’s website; or

f) other errors or difficulties of any kind, whether human, mechanical, electronic, computer, network, typographical, printing or otherwise, relating to or in connection with the Local Competition including, without limitation, errors or difficulties which may occur in connection with the administration of the processing of applications, the judging process, the announcement of the Local Competition semi-finalists, winner or in any related materials.

33. The Local Promoter and the Global Promoter reserve the rights, at their sole discretion:

a) to suspend, modify or terminate the Selection Process at any time and for any reason;

b) to amend these Local Terms at any time; and

c) to withdraw part or all the Local Competition if it cannot be operated as envisaged, or cannot be operated as envisaged in these Local Terms without disproportionate expense.

34. By participating in the Competition Representatives agree that, to the extent permissible under applicable law, the Local Promoter, the Global Promoter and their independent expert consultant and their parent companies, affiliates, subsidiaries and advertising and promotion agencies and all of their respective officers, directors, employees, representatives and agents (collectively, "the

Released Parties") will have no liability whatsoever for, and shall be held harmless by Entrants against, any liability for any injuries, losses or damages of any kind, including death, to persons, or property resulting in whole or in part, directly or indirectly, from acceptance of the prize or participation in any aspect of the Local Competition or the Global Competition.

35. If the Local Promoter or Global Promoter suffers loss or incurs any costs in connection with any attempt by an entrant to deliberately undermine the legitimate operation of this promotion, or in connection with any breach of these terms and conditions or any other legal obligation, the entrant agrees to indemnify the Local Promoter and Global Promoter for those losses, damages and costs.

36. The Entrant shall indemnify the Local Promoter and the Global Promoter from any and all claims, liabilities, costs and expenses arising in any way from a breach of the Entrant's obligations, warranties or representations under these Local Terms or in any way given as part of the Competition.

37. The Local Promoter and Global Promoter will not be responsible for any incorrect, inaccurate or incomplete information communicated in connection with this promotion if the deficiency is outside the reasonable control of the Promoter.

38. As a condition of accepting the prize, the Local Winner may be required to sign any legal documentation required by the Promoter and/or prize suppliers.

39. The Local Promoter and/or the Global Promoter may choose to use the local finalists and the Local Winner in pre and / or post-event advertising, PR and promotional material ("Advertising"). By entering the Competition the entrant agrees to being included in Advertising. The Local Winner agrees to participate in all reasonable promoted activities in relation to this competition as requested by the Local Promoter and the Global Promoter. The Global Promoter shall own all right, title and interest in and to any Advertising.

40. In relation to the Local Competition, the Local Promoter reserves the right to resolve any discrepancies, disputes or otherwise unforeseen circumstances as it deems fit and its decision will be final and binding upon every entrant. No correspondence will be entered into.

GOVERNING LAW

41. The Local Competition shall be governed by the Australia laws and the jurisdiction of the courts of Australia