The Duckhorn Portfolio, Inc. ("Duckhorn") today announced the closing of its underwritten public offering of 23,000,000 shares of its common stock to the public, with 13,333,333 shares being offered by Duckhorn and 9,666,667 shares being offered by its existing stockholder, which includes the exercise in full by the underwriters of their option to purchase up to 3,000,000 additional shares of common stock, at a public offering price of $15.00 per share.

The common stock is listed for trading on the New York Stock Exchange under the ticker symbol “NAPA.” The Company has not received any proceeds from any sale of shares by the existing stockholder.

J.P. Morgan, Credit Suisse and Jefferies acted as joint lead book-running managers and as representatives for the offering. Barclays, BofA Securities, Citigroup, Evercore ISI and RBC Capital Markets also acted as book-running managers for the offering. Academy Securities, Ramirez & Co., Inc. and Siebert Williams Shank also acted as co-managers for the offering. The offering was made only by means of a prospectus.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 17, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the final prospectus, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560 or by telephone at 800-221-1037 or by email at usa.prospectus@credit-suisse.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022 or by telephone at (877) 821-7388 or by email at Prospectus_Department@jefferies.com.

About The Duckhorn Portfolio, Inc.

The Duckhorn Portfolio is the premier producer of luxury wines in North America. The acclaimed Duckhorn Portfolio includes Duckhorn Vineyards, Decoy, Paraduxx, Goldeneye, Migration, Canvasback, Calera and Kosta Browne, each with its own dedicated winemaker.

Media Contact: Jessica Liddell, ICR DuckhornPR@icrinc.com 203-682-8200

Investor Contact: Chris Mandeville, ICR DuckhornIR@icrinc.com 203-682-8304

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