OTC: MDWK

Overview
of the Business of Two Trees

Our
Two Trees spirits business produces a variety of aged alcoholic beverages using our innovative rapid-aging system. This scalable technology
results in all-natural, high-quality products, quickly and efficiently produced, with a reduced environmental impact. Our products are
nearly indistinguishable from those that are traditionally aged.

Deep
in Appalachian Mountain country, we created a proprietary process that mirrors and accelerates the natural aging process that occurs
when alcohol is aged in wooden barrels over time. The true art of our craft spirits lives within the balance between the distillate selection,
local water, and the full-bodied flavors from our wood chip varieties that are toasted to just the right char, bringing rich barrel flavor
profiles to life.

Whiskey-as-a-Service

Among
our accomplishments to start the year, we successfully launched our “Whiskey-as-a-Service” (“WaaS”) business
model, offering use of the SRAS through a flexible technology license structure to enable customers to access this transformative technology
with minimal upfront investment, while securing long-term, predictable revenue streams for the Company. We also offer on-site aging of
bulk spirits.

We
have signed new contracts with two companies for the construction and deployment of our proprietary SRAS and see excellent potential
for multiple additional SRAS deployments by both customers within the next twelve months as well as by other third parties.

The
first of these units is anticipated to be installed on site at one of the largest distilleries in the U.S. in the second quarter of 2026,
with the second unit deployed approximately three months thereafter. The second contract is with a leading U.S. wholesaler and broker
of bulk spirits for one SRAS unit at their facility, which is estimated to be installed in the third quarter of 2026.

Under
both contracts, RFS will manufacture and assemble the SRAS units and provide ongoing machine servicing and maintenance in addition to
the recurring monthly license payments from the customers for use of the SRAS units.

These
contracts validate the economic and sustainability benefits of our SRAS units and provide us with attractive recurring revenue streams
through licensing agreements and ancillary fees for ongoing machine servicing and maintenance.

Building
on the momentum of our first two WaaS contracts, we signed a separate new agreement with an international spirits investment fund (the
“Fund”) providing the Fund with limited exclusivity for the deployment of our SRAS units in three countries outside of the
United States. To retain exclusivity, the Fund is required to deploy at least one SRAS unit annually in each of the three countries.

In
2025, we began aging tanker loads of distillate at our facility for one of our SRAS customers to fill immediate demand for aged spirits.
In early 2026, we completed installation of a higher capacity SRAS at our Two Trees facility in order to increase existing production
across our aging services and brand production.

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Two
Trees Brands

Using
the SRAS at our own facility, Two Trees has built an award winning portfolio of more than 30 spirit labels including bourbon, whiskey,
flavored whiskeys and vodka that are produced in a fraction of the time it takes to produce traditional aged spirits. Two Trees on site
tasting room has received the Best of Ashville awards in 2023, 2024 and 2025.

Our
new Land of the Sky Straight Bourbon Whiskey received a Gold Award in the 2025 New York International Spirits Competition. Our Two Trees
Snarly Yow Bourbon and Tim Smith Climax Honey Raspberry each won Silver awards at the 2025 SIP Awards, with the Climax Honey Raspberry
winning the 2025 Innovation Award also.

Three
of Two Trees portfolio brands received 2022 SIP Awards, with its Two Trees Carolina Peach Whiskey receiving a Platinum Award, Two Trees
Sea Salted Caramel Whiskey receiving a Gold Award and Two Trees Old Fashioned RTD receiving a Gold Award. Also, two of its portfolio
brands received 2022 50 Best Awards with Two Trees Peanut Butter Whiskey and Two Trees Sea Salted Caramel Whiskey receiving Best Flavored
Whiskey awards.

Our
full current flavored whisky brand portfolio includes the following:

SEA
SALTED CARAMEL – a sweet soft caramel paired with real sea salt and aged in slow toasted Appalachian white oak.

BATCH
314 - A long toasting of Tennessee white oak brings out a soft caramel flavor with notes of vanilla and spice.

CRISP
APPLE - Tart flavors of fresh picked green apples and the sweet charred profile of Appalachian white oak blend easily.

CANDY
APPLE - Vanilla profile of heavy toasted Tennessee white oak adds to the caramel dipped green apple flavor.

CINNAMON
SPICE - Aged in charred and toasted Missouri white oak, with the cinnamon spice and the sweet essence of red hots candy.

MICHIGAN
CHERRY - Made with sweet corn to balance and compliment the tartness of the Montmorency cherry profile.

CAROLINA
PEACH - Made with delicious South Carolina peaches and natural flavors to compliment the sweet charred flavor profile of Appalachian
white oak.

GOLDEN
HONEY - Flavor reminiscent of toasted Appalachian white oak, and the essence of fresh honeycomb and the taste of natural honey.

SCORCHED
BROWN SUGAR - Flavor reminiscent of charred Appalachian white oak, real brown sugar and natural vanilla flavor.

PEANUT
BUTTER - A taste reminiscent of Appalachian white oak with rich smooth notes of peanut butter.

LAND
OF THE SKY BOURBON – Land of the Sky Bourbon represents the first Limited Edition whiskey in our UPLIFTING SPIRITS portfolio.
Crafted from a mash bill of corn, wheat and malted barley. The whiskey rested in hand selected barrels for at least 3 years and then
finished with toasted white oak

Our
ready to drink portfolio includes the following:

OLD
FASHIONED - Plush, dignified cocktail of muddled sugar, whiskey, bitters and Appalachian Mountain spring water blended with toasted
Missouri and Tennessee white oak is sleek and ready to pour.

MANHATTAN
- Austere rye whiskey with a rich touch of both sweet and dry vermouths sculpted with toasted Missouri and Tennessee white oak
creates a glossy, mirror like smoothness, made effortlessly.

Our
Tim Smith product portfolio includes the following:

CLIMAX
MOONSHINE - The original recipe is distilled from corn, rye, and barley malt. Clean and natural tasting with a subtle sweetness
and bold defiance.

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CLIMAX
WOOD-FIRED WHISKEY - This isn’t your ordinary American bourbon-style whiskey its Tim Smith’s century-old moonshine
recipe aged and filtered with toasted oak and maple wood imparting color and revolutionary flavors. The final process allows the whiskey
to cool in Oak containers, and the result is Tim Smith’s revolutionary Climax Whiskey – Made to be in a Class of its Own.

CLIMAX
FIRE NO. 32 - Cinnamon Spice Moonshine using Tim Smith’s original pot-distilled recipe. Bold, Hot and Smooth. As a volunteer
fire chief in Climax, VA, Tim created this moonshine as a tribute to firefighters across the country.

CLIMAX
HONEY RASPBERRY - This is Climax Wood-Fired Whiskey Made with natural honey produced by bees and raspberries grown in the Appalachian
Mountains.

TIM
SMITH SOUTHERN RESERVE BOURBON - Amber in appearance. Caramelized sugar and vanilla melt into a soft wheat. It finishes with
a sweet honey profile.

TIM
SMITH SOUTHERN RESERVE RYE - Golden amber in appearance. Notes of spicy toasted American oak give way to the gentle warm finish
of sweet rye and caramel.

TIM
SMITH SOUTHERN RESERVE WHISKEY - Reddish amber in appearance. Sweet corn and mild rye blend with smoky, caramelized oak. It finishes
with earthy, nutty notes.

We
also produce a wood crafted portfolio American whiskey. This blend is colored and flavored with Appalachian white oak chips. This brings
out a soft caramel flavor with notes of vanilla and spice. The charred white oak chips soften this spirit to make it smooth and easy
to drink.

Patent
and Trademarks – Two Trees

We,
primarily through our subsidiaries, hold or have rights to use various service marks, trademarks and trade names we use in the operation
of our businesses that we deem particularly important to each of our products. As of the date of this report, we had 12 trademarks for
our products and services as follows:

Trademark

Registration
Date

Reg.
Number

Class

TIM
SMITH’S CLIMAX MOONSHINE

3/21/2017

5,166,624

Class
21: portable coolers

Class
25: shirts, caps

Class
33: distilled spirits

CLIMAX
MOONSHINE

10/20/2015

4,834,895

Classes
2, 13, 23, 29, 30, 33, 40 and 50: drinking glasses and drinking flasks

Classes
22 and 39: shirts and hats

Classes
47 and 49: distilled spirits

FIRE
NO 32

2/21/2017

5,147,397

Class
33: distilled spirits

CLIMAX
WHISKEY

8/01/2017

5,257,114

Class
33: distilled spirits

CLIMAX
WOOD-FIRED

8/22/2017

5,272,047

Class
33: distilled spirits

TIM
SMITH SOUTHERN RESERVE

11/26/2019

5,922,109

Class
33: distilled spirits, whiskey

SNARLY
YOW

1/14/2020

5,963,107

Class
33: distilled spirits, whiskey

TWO
TREES

3/24/2020

6,020,545

Class
33: Alcoholic beverages except beers, not wine based; Distilled spirits; Whiskey

OWL
HEAD

6/16/2020

6,079,608

Class
33: distilled spirits; whiskey

WAMPUS
CAT

6/16/2020

6,079,610

Class
33: distilled spirits; whiskey

MOON
CHASERS

6/12/2022

6,785,148

Class
33: alcoholic beverages, namely, ready-to-drink cocktails

SUSTAINABLY
– MATURED

11/14/2023

7219580

Class
40: Alcohol distillery services; Spirits distillery services; Whisky distillery services

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Two
Trees also has the following patents:

Patent

Issue
date

Patent
Number

Expiration
Date

System
& method for the rapid aging of a distilled ethyl alcohol with rf energy and wood material supporting platform

April
18, 2023

US
11,629,317 B2

January
21, 2034

System
& method for the rapid aging of a distilled ethyl alcohol with rf energy and wood material supporting platform

April
30, 2024

US
11,970,678 B2

January
21, 2034

Overview
of the Business of RF Specialties

RFS
is engaged in the business of developing sustainable radio frequency (RF) applications, and for over 14 years, has addressed the challenges
faced by companies by implementing automated radio frequency technology. RFS has developed a system and method for the rapid aging of
distilled spirits with RF energy that reduces energy and production costs thus increasing the speed to market for distilled beverages
when compared to traditional technologies.

Our
patented energy wave technology introduces a revolutionary approach to industrial processes by specific molecular targeting, which can
be applied at precise and multiple locations in a system in ways that conventional single point heat sources cannot, resulting in improved
efficiency, higher quality, and reduced processing time.

The
Company is currently deploying its first industrial application of our Molecular sawdust drying system with a lumber mill. The system
offers scalable, flexible solutions for any tonnage of sawdust, catering to diverse pellet manufacturing needs. It utilizes patented
technology to adjust moisture content as required, optimizing it to precise specifications. The system features precision automation
for controlling temperature and drying parameters, ensuring consistent high-quality output. This adaptable system enhances safety and
productivity, achieving uniform results with minimal downtime.

The
Company is also targeting applications of this process in engineered wood products, adhesives, wood forest products and food and beverages.

Patent
and Trademarks – RF Specialties

RF
Specialties holds or has the rights to use patents we use in the operation of our businesses that we deem particularly important to each
of our products. As of the date of this report, we had the following patents:

Patent

Issue
Date

Patent
Number

Expiration
Date

Systems,
apparatuses, and methods for molecular targeting and separation of feedstock fluids

June
11, 2019

US
10315126 B2

November
22, 2036

Employees

As
of December 31, 2025, the Company had 13 full-time and 5 part-time employees across all subsidiaries. None of our employees are covered
by collective bargaining agreements and we consider our relations with our employees to be good.

We
believe that hiring a diverse workforce is important to our success. We intend to continue to evaluate our use of human capital measures
and objectives to ensure we have a stable workforce to run our business effectively and provide a comfortable working environment for
our employees.

The
success of our business is fundamentally connected to the well-being of our people. Accordingly, we are committed to the health, safety
and wellness of our employees, and we provide our employees and their families with competitive pay and benefits.

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