On December 7, 2021, the Board of Directors of The Duckhorn Portfolio, Inc. appointed Adriel Lares to the Board. Mr. Lares' initial term as a director will expire at the Company's 2023 Annual Meeting of Stockholders. Mr. Lares will also serve on the Audit Committee of the Board.

Mr. Lares will replace Dan Costello on the Audit Committee, but Mr. Costello will remain both a member of the Board and Committee Chair of the Nominating & Corporate Governance Committee. Adriel Lares brings with him a tenured track record of public and private financial operations and reporting. Mr. Lares is currently the CFO of Stash.

He has served in that role since July 2021. Prior to that, Mr. Lares served as the CFO of Fastly, Inc. Prior to Fastly, Inc., Mr. Lares served as an advisor and CFO to Lookout, Inc.