2209 Boiling Springs Road, Boiling Springs, SC 29316

Publicly Traded (NYSE: BROS) | $1.50B+ in 2025 Revenue

• Dutch Bros was founded in 1992 by brothers Dane and Travis Boersma as a single espresso pushcart in Grants Pass, Oregon. Today, it is a publicly traded powerhouse (NYSE: BROS) with over 1,100 locations.
• Dutch Bros is currently one of the fastest-growing chains, expanding its footprint by nearly 30% in 2025 alone and targeting a national goal of 7,000 stores.
• Dutch Bros has rapidly climbed to become the third-largest coffee chain in the U.S. by location count.

Dutch Bros Acquires Clutch Coffee Bar, Accelerating Expansion

• Dutch Bros has acquired North Carolina-based 20-unit chain Clutch Coffee Bar, with plans to rebrand all locations in the Carolinas to Dutch Bros by early 2026.
• The 20 existing Clutch Coffee locations will be rebranded to Dutch Bros to expand their presence in North and South Carolina.
• The deal is part of a larger push by Dutch Bros to significantly expand its footprint to over 2,000 locations.

13+ Years Remaining | Absolute NNN Lease

• Dutch Bros assumed the prior Clutch Coffee lease which has 13+ years remaining on an original 15 year lease.
• The lease has no landlord responsibilities and offers 2.00% annual increases throughout the base term.
• In addition to the 15-year base lease term, the tenant has one, ten-year option and two, five-year options to renew with the same rent increase structure annually.

Spartanburg MSA – 5-Mile Population Growth: 25% (2010-2022)

• Greenville-Spartanburg-Anderson is the 8th Largest MSA in Southeast and Spartanburg was the 8th Fastest Growing Metro in the U.S. in 2023 (U.S. Census Bureau).
• The area is home to 1.6 million residents.
• Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms.
• Boiling Springs is an affluent and growing suburb of Spartanburg, SC and is about 30 miles northwest of Greenville.