The document outlines the key dates and workstreams for an auction process involving the sale of an unnamed company ("Happy Hour"). It describes a two-round bidding process with indicative bids due on April 13th and final bids due on July 31st. In the first round, bidders will receive information documents and submit initial non-binding bids providing details on purchaser, price, financing, and diligence plans. A shortlist will then progress to the second round involving further diligence, management presentations, and submitting legally binding final offers to acquire Happy Hour.

1. C O N F I D E N T I A L
Overview of auction process and key workstreams
1
Date Event Key workstreams
Round 1:
Indicative Bid
Phase
March,19,2020 Access to Transaction information memorandum
(the “Information Memorandum”), vendor due
diligence reports and financial forecasts on a strictly
no reliance basis (together the “Indicative Bid
Documents”).
The Indicative Bid Documents have been prepared to enable Bidders to submit
an indicative bid in respect of this Transaction (“Indicative Bid”) and will be
available via an online data room. To effectively evaluate your Indicative Bid,
required information must be provided in a detailed manner.
1. Purchaser
2. Purchase Price
3. Assumptions
4. Sources of Funds
5. Due Diligence
6. Timing and Contingencies
7. Structure
8. Advisors
9. Additional Information
Apr 9, 2020 - Apr 13, 2020 The Indicative Bid Phase will include a question and
answer process whereby Bidders will have the
opportunity to submit a limited number of questions
via the form outlined in Appendix I to Financial
Advisor (“Indicative Bid Q&A Process”)
Apr 13, 2020 Indicative Bid should be submitted.
Round 2: Final
Bid Phase
May 31,2020 Release of process letter 2. A short list of Bidders
will be chosen to progress to the Final Bid Phase
(“Shortlisted Bidders”).
Shortlisted Bidders will be provided with:
• Further access to the electronic data room populated with due diligence
materials;
• Guided site visits;
• Presentations from Happy Hour's management team;
• An additional question and answer process; and
• Transaction implementation documentation.
July 31,2020 Shortlisted Bidders will be required to submit full and
legally binding bids (“Final Bid”).