Limestone Boat Company acquires Ebbtide Holdings

The Limestone Boat Company Limited announced the closing of its acquisition of Ebbtide Holdings,
LLC in White Bluff, Tenn.

Through the acquisition of Ebbtide, Limestone will not only take control of its own destiny, but
has assumed control over the design, manufacturing, marketing, sales and distribution of the
Aquasport and Boca Bay brands in its newly acquired facility in White Bluff, Tenn.

Ebbtide– a centrally-located U.S. manufacturer with a 40-plus year track record of manufacturing
quality watercraft – currently manufactures the Aquasport and Boca Bay brands, as well as the
Limestone model line-up under previous contract arrangements in its 145,000 sq. ft. facility in
White Bluff.

Limestone’s acquisition allows for the expanded production of all three brands, to meet the
growing market demand for marine products. The Company now has over 50 independent
dealer locations servicing the East Coast & Gulf Coast of the United States, the Great Lakes
and Southern Ontario, Canada.

“The acquisition of Ebbtide Holdings is a keystone transaction in the continued growth of our
Company,” said Scott Hanson, Limestone’s CEO. “The combination of heritage brands
Limestone and Aquasport provides continuity in reputation for safety, performance and quality,
coupled with the addition of Boca Bay, and potential resurrection of the Ebbtide brands further
diversifying the Company’s product offerings. Our team members in Collingwood, Ontario will
be responsible for directing product development and North American sales, marketing,
distribution, and finance, allowing the team in Tennessee to focus on the manufacturing of
quality, performance boats that retailers and consumers alike can count on, backed by a limited
lifetime, transferable warranty consumers would expect. By securing expanded manufacturing
capacity and a broad dealer network, we are well positioned to become a growing force in the
North American marine industry.”

Hanson continued: “Our goal is also to build on the current team in White Bluff, TN, expanding
on the company’s skilled labor force, creating a place that our people not only want to come to
for work, but brands that they take pride in producing. We are now on our way to achieving
these goals with our expanded team and the resources to invest in our people and our

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