On June 15, 2023 (the Effective Date"), Crimson Wine Group, Ltd., Pine Ridge Winery, LLC, Chamisal Vineyards, LLC, and Double Canyon Vineyards, LLC (the foregoing, collectively Borrowers") entered into the Fifth Amendment to Credit Agreement (the Fifth Amendment") with American AgCredit, FLCA (the Lender"), which amends that certain Credit Agreement, dated March 22, 2013 among Borrowers and Lender (as previously amended, the Credit Agreement"), in order to, among other things: (a) amend provisions related to the interest rate applicable to the borrowings under the Credit Agreement to substitute the London Interbank Offered Rate with the Secured Overnight Financing Rate; (b) extend each of the Revolving Loan Termination Date, the Term Revolving Loan Conversion Date and the Term Revolving Loan Termination Date to May 31, 2028; (c) incorporate changes to reflect current documentation standards for credit agreements as contemplated by the Loan Syndications and Trading Association; (d) add a covenant for Borrowers to maintain flood insurance with respect to certain flood hazard properties if required by the Lender or by law; (e) amend the restrictions on restricted payments in connection with redemptions of security interests from officers, directors and employees and distributions to the Company's stockholders (in each case, subject to certain conditions) to increase the applicable limits to (i) $30 million in the aggregate from the Effective Date until the Revolving Loan Termination Date and (ii) $15 million annually in any fiscal year; (f) replace the existing Consolidated Working Capital Ratio financial covenant with a minimum Consolidated Fixed Charge Coverage Ratio financial covenant of 1.15:1.00 as of the last day of any fiscal quarter; (g) decrease the existing Leverage Ratio financial covenant to a maximum Leverage Ratio of 4.50:1.00; and (h) increase the existing consolidated Adjusted Funded Debt to Consolidated Adjusted Total Capitalization ratio (expressed as a percentage) to a maximum ratio of 55%.