GENERAL CONSIGNORS’ CONDITIONS Winefield’s Auctioneers Amsterdam These conditions apply to all consignments and every delivery of movable items meant for sale by auction by WINEFIELD’S AUCTIONEERS. By signing the auction agreement, the consignor declares that it is familiar with these conditions and agrees to them. It is only possible to depart from these conditions if this is explicitly stated in the auction agreement. In these general terms and conditions, the following terms have the following meanings: a. auction: public sale of movable items to the highest bidder; b. lot: the movable item or compilation of movable items to be auctioned; c. consignor: the party that offers the lot to WINEFIELD’S AUCTIONEERS for purposes of auctioning; d. limit: the minimum amount agreed between WINEFIELD’S AUCTIONEERS and the consignor for which the lot may be knocked down by the auctioneer; e. auction agreement: the form that serves as proof of submission of one or more lots. Clause 1 1.1. The consignor authorises WINEFIELD’S AUCTIONEERS to sell the lot with due regard to these auction conditions. 1.2. WINEFIELD’S AUCTIONEERS will use its best endeavours to offer the lot for sale in a suitable auction, whether it is a live auction in Amsterdam, a live auction in Singapore, a LIVE online auction, or a TIMED online auction. 1.3. WINEFIELD’S AUCTIONEERS will use its best endeavours to sell the lot to the party who makes the highest bid for it, unless this bid is lower than the limit agreed with the consignor. Clause 2 2.1. The consignor declares that it is fully authorised to dispose of the lot and that it will indemnify WINEFIELD’S AUCTIONEERS should WINEFIELD’S AUCTIONEERS be obliged to surrender the lot to a third party with a better right. 2.2. The consignor is fully liable to WINEFIELD’S AUCTIONEERS for the damage and costs incurred by any deviation, inaccuracy, incompleteness or defect in the information provided by the consignor to WINEFIELD’S AUCTIONEERS as to the origin, condition or quality of the lot offered for sale by auction. Clause 3 3.1. WINEFIELD’S AUCTIONEERS is free to determine whether the lot will be offered for sale, when, and in what auction. 3.2. WINEFIELD’S AUCTIONEERS is entitled to issue communications at its discretion about the lot to be auctioned and to disseminate images of it in the public domain. Clause 4 4.1. WINEFIELD’S AUCTIONEERS is entitled not to sell the lot in an auction if, in the opinion of the auctioneer, the highest bid is too low. 4.2. WINEFIELD’S AUCTIONEERS is entitled to sell the lot in an auction below the limit as long as the difference between the knockdown price and the limit is paid by WINEFIELD’S AUCTIONEERS. 4.3. After the auction, WINEFIELD’S AUCTIONEERS is entitled to sell privately a lot that remained unsold in an auction with due regard to the conditions agreed with the consignor, or to auction it again at a different time. Clause 5 5.1. The provisions of clause 4 notwithstanding, the consignor has the right to take back a lot that was not sold in an auction against payment of costs incurred and charges agreed on the part of WINEFIELD’S AUCTIONEERS. 5.2. If the consignor withdraws a lot after the deadline for submission for an envisaged auction, the consignor must reimburse WINEFIELD’S AUCTIONEERS for lost commission and buyer’s premiums as well as costs incurred and charges agreed. Clause 6 6.1. The consignor irrevocably authorises WINEFIELD’S AUCTIONEERS to allow the buyer of the auctioned lot to claim that the transaction be set aside and the purchase price refunded if, within one year after the auction

date, the buyer demonstrates to the satisfaction of WINEFIELD’S AUCTIONEERS defects in the lot or in the description such that, if these had been known to the buyer at the time of the auction, he would have chosen not to make the purchase, or would only have purchased the lot at a considerably lower price. 6.2. The consignor irrevocably authorises WINEFIELD’S AUCTIONEERS to claim that a transaction be set aside and to take back the lot if the buyer of the lot is in default on its payment obligations relating to the purchase. 6.3. In the event of termination of the transaction pursuant to this clause, the lot is deemed to be unsold and the consignor is obliged to repay to WINEFIELD’S AUCTIONEERS without delay anything already paid to it for the lot. Clause 7 The consignor is entitled to the price realised on the sale of the lot, less the following: 7.1. a) Commission: For wines offered for sale in Amsterdam, a commission of 10% on the hammer price is owed to WINEFIELD’S AUCTIONEERS, unless otherwise agreed with the consignor and confirmed in the signed auction agreement. b) Costs of illustrations: These costs are payable by WINEFIELD’S AUCTIONEERS, unless otherwise agreed with the consignor and confirmed in the signed auction agreement. c) Transport costs: Transport costs are payable by WINEFIELD’S AUCTIONEERS, unless otherwise agreed with the consignor and confirmed in the signed auction agreement. Transport is offered starting from a minimum value to be determined by WINEFIELD’S AUCTIONEERS of the lots put up for auction. d) Insurance costs: For insurance of loss or damage to the lot, WINEFIELD’S AUCTIONEERS charges a fixed surcharge of 1.5% on the hammer price. The insurance is limited to items located in the auction house or storage sites of WINEFIELD’S AUCTIONEERS and provides cover up to the agreed limit price of the lot concerned. e) Other costs: Other costs are only charged to the extent that they were expressly agreed by WINEFIELD’S AUCTIONEERS with the consignor. f) Tax: The commission, insurance costs and other charges all include Dutch VAT. Clause 8 8.1. Purchase declaration in relation to value added tax for the lot put up for auction: The consignor declares that no turnover tax was deducted as input tax on the auctioned lot and that no VAT is due in connection with delivery to buyers and that WINEFIELD’S AUCTIONEERS applies the margin scheme to deliveries to buyers. Clause 9 9.1. The consignor is not entitled to payment of the proceeds from a lot sold until the buyer has complied with his payment obligation. Clause 10 10.1 All legal relationships between the consignor and WINEFIELD’S AUCTIONEERS are governed by Dutch law. In the event of differences between the Dutch text of these conditions and any translation into a foreign language, the Dutch version is decisive.