Mr. Larry Weintraub reports

BECKETT'S CEO ISSUES SHAREHOLDER LETTER AND THE COMPANY ANNOUNCES BOARD CHANGE

Beckett's Inc.'s chief executive officer, Larry Weintraub, has issued a shareholder letter providing a recap on 2025 and an outlook for 2026. The company also announces a change to its board.

Shareholder letter from Mr. Weintraub: Beckett's 2025 recap and 2026 outlook

Dear shareholders,

As I look back on 2025 and look ahead to 2026, I am very proud of what we accomplished and excited about what is to come for Beckett's. We are laser focused on building the best non-alcoholic adult cocktail brand and expanding our products' availability in the United States and beyond. As Nielsen recently reported, the non-alcoholic category is now a $1-billion business in the U.S., and we are uniquely positioned to capitalize on consumers interested in balancing their alcohol intake with healthier options.

What we accomplished in 2025

On the retail front, we maintained our No. 1 position for non-alcoholic canned cocktails at Total Wine & More and stayed in the top 5 overall in their entire non-alcoholic category. For Dry January, we did sampling campaigns at over 40 Total Wine stores across California, and the company told us sales were up 85 per cent during that period. We proved what we suspected, when people taste our products, they buy them. It is that simple.

Our e-commerce business crossed six figures in just eight months, led by our Coconut Rum and Cinnamon Whiskey non-alcoholic spirits, with our Moscow Mule canned cocktail right behind them. We launched on the Walmart website in May and became their No. 1 non-alcoholic adult beverage brand. We also revamped our Amazon store and moved to their FBA (Fulfilled By Amazon) program, which has made a real difference in accessibility for customers.

We introduced our non-alcoholic Margarita variety eight-pack for the summer months and Total Wine ordered the majority of that first run. The success was strong enough that they have kept it on the shelves year-round, and in 2026 we will be offering it to additional retailers. We also won our first major awards, Gold for our Cinnamon Whiskey and Silver for our Coconut Rum at the Zero Proof Choice Awards, the premier U.S. competition in our category.

On the distribution side, we added New Jersey's largest beer distributor, Kohler, and Connecticut's Mancini, which joins our partners in Texas and Massachusetts. We are actively working to add more availability of our products in the Northeast and California in the coming year. In Southern California specifically, we are building momentum on-premise, getting our products into over 25 bars, restaurants, nightclubs and hotels.

Our strategic focus: why non-alcoholic

I know many of you invested expecting significant cannabis and THC growth. At the end of 2024, we did make canned cocktails infused with five milligrams of Hemp THC (HD9), and those products were sold into distribution partners in Texas, Florida and New Jersey, mostly into Total Wine stores in those states.

Hemp THC had a rocky road in 2025. Where it was legal, it performed well, but brands focused specifically on HD9 pivoted quickly to higher dose products of 10 mg and beyond. Then Florida updated their laws around ingredients, and states like Massachusetts and California made all HD9 products illegal overnight. The regulatory environment became a moving target, and frankly, with our current resources, managing those market changes while also growing our non-infused business became impossible. Each was a business unto itself.

Meanwhile, as I previously mentioned, the non-alcoholic category crossed $1-billion in the U.S. and continues growing. We have tangible proof that people love our products. We see it in their reactions when we sample, and we see it in the numbers from Total Wine, Walmart, Amazon and local shops across California.

I had to make a decision about what would best serve our brand and you, the shareholders. We are concentrating exclusively on non-alcoholic beverages where we can be a category leader, rather than spreading ourselves thin across two complex, resource-intensive markets. When THC regulations stabilize, we can revisit it from a position of strength. Right now, this focus gives us the clearest path to building the shareholder value you're looking for.

Where we are headed in 2026

In 2025, we put our products in front of most of the country's largest retailers. There is genuine interest from many of them, and I am personally confident that we are on the right track to convert several into actual shelf placements this year. As we build more success stories similar to what we have done at Total Wine and the Walmart website, I believe others will follow.

My focus has been on growing awareness at the retail level and building the distribution infrastructure to give retailers confidence in Beckett's and our products. With our limited resources, this has been a challenging task on a national scale. So, for the moment, we are now focused primarily on California and the states in the Northeast. This does not mean we will not add retailers and distributors in other parts of the country, we absolutely will, but we are staying concentrated in these regions so we can stack wins and build undeniable momentum.

My commitment to you

One of my goals in 2026 is to communicate with the market more frequently. I intend to share news and updates like this more often to give you the fuller picture of what we are building.

Thank you for your patience and continued support. We are building something meaningful here, and I am energized about where Beckett's is headed. Here is to what I know will be Beckett's best year ever.

Cheers,

Larry Weintraub

CEO, Beckett's

Corporate update

The company announces that effective today, Tony Yanow has resigned from his role as director on the company's board of directors, due to time constraints. "Mr. Yanow has been a valuable board colleague for several years," said Teddy Zittell, Beckett's chair of the board. "We always welcome Tony's advice, and we are pleased to confirm that he will now serve as a member of our board of advisers," Mr. Zittell continued. "On behalf of the company and the directors personally, we thank Tony for his guidance and support, and we wish him well in his future endeavours."

About Beckett's Inc.

At Beckett's, the company is cocktail lovers who decided to shake things up, ditching the booze but keeping every drop of flavour and fun. Born from the creativity of beverage veterans behind brands like Cutwater, Golden Road and Elysian, the company's non-alcoholic cocktails and spirits are full of character, not compromise. The company's Beckett's Tonics are sparkling, ready-to-drink takes on cocktail classics like the Moscow Mule, Paloma, Margarita, and Gin & Tonic. Beckett's '27 spirits offer non-alcoholic versions of Coconut Rum, Cinnamon Whiskey, Amaretto and Coffee Liqueur. The company believes in celebrating life on your terms-because, just like our drinks, you are Too Good To Be Wasted.

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