Launch of SMWS Vietnam

16 June 2025

The Artisanal Spirits Company plc

("ASC" or the "Group")

Launch of SMWS Vietnam

New franchise launch in one of the world's top 10 markets for Ultra-Premium Scotch Whisky

The Artisanal Spirits Company (AIM: ART), the owner of The Scotch Malt Whisky Society ("SMWS"), the leading curator and provider of premium single cask Scotch malt whisky and other spirits for sale primarily online to a discerning global membership, is pleased to announce the successful launch of a new franchise in Vietnam.

The launch of the franchise allows SMWS to serve members in one of the world's top 10 markets for Ultra-Premium Scotch Whisky, based on value, with an estimated total addressable market of $239 million (source: IWSR 2024). It marks another milestone in the Group's strategic expansion in Asia, complementing the more recent 2023 franchise launches in Korea and subsidiary in Taiwan respectively, alongside the longer established China and Japan subsidiaries.

Andrew Dane, CEO, commented:

"The addition of the new market in Vietnam further expands our footprint in Asia and gives us direct access to one of the top 10 Ultra-Premium Scotch whisky markets, helping us to capture demand for our unique combination of Ultra-Premium and limited-edition whiskies and outstanding experiences and knowledge."

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About The Artisanal Spirits Company

ASC's purpose is to captivate a global community of whisky adventurers, by creating and selling outstanding, limited-edition whiskies and experiences around the world with an ambition to create a high quality, highly profitable and cash generative, premium global business.

Based in Edinburgh, ASC owns The Scotch Malt Whisky Society (SMWS), Single Cask Nation (SCN) and J.G. Thomson (JGT). Owning over 18,000 casks primarily comprising Single Malt Scotch Whisky, ASC's stock includes outstanding whisky (and other spirits) from 150 different distilleries across 20 countries which is sold to members both as individual bottles and whole casks.

With an established global presence in some 30 countries, SMWS operates a direct-to-consumer model (90% of revenue) primarily through e-commerce, in addition to four member rooms in the UK. SMWS provides members with inspiring experiences, content and exclusive access to a vast and unique range of outstanding, expertly curated Scotch malt and other whiskies.

In January 2024, ASC acquired SCN which sources, curates and bottles single-cask whiskies and other spirits selling both online and via traditional retail channels to its following of around 10,000 whisky enthusiasts in the USA. SCN also retails to key international whisky markets around the world.

Launched in the UK in late 2021, JGT has a focus on outstanding small batch blended malt whiskies and other spirits, available both through direct-to-consumer online sales and through traditional retail channels. The award-winning brand has subsequently expanded into international markets.

With proven e-commerce reach and a growing family of brands, ASC is building a portfolio of limited-edition and small-batch whisky and other spirits brands for a global movement of discerning consumers - delivering revenue of £23.6 million in FY24, predominantly from outside the UK, with an expanding presence in the other key global whisky markets including USA, China, Europe, Japan, Australia and Taiwan.

ASC has a substantial asset backing and is delivering profitable growth and cash generation.

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