Arctic Industries Announces Acquisition of Duracold Refrigeration Manufacturing Company

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MIAMI, FL | LOS ANGELES, CA – September 05th, 2018 – Arctic Industries, a leading walk-in cooler
and freezer manufacturer sponsored by Stoic Holdings, is pleased to announce its acquisition of
Duracold Refrigeration Manufacturing Company (“Duracold”), a Los Angeles-based walk-in cooler and
freezer manufacturer.

The Duracold acquisition will expand Arctic’s geographic reach to the western U.S., while enhancing
the quality and service that Duracold has delivered to its customers for over 20 years. This acquisition
will increase Arctic’s foam-in-place manufacturing capabilities while expanding its customer base,
which can now access the combined company’s broader product offerings and bicoastal manufacturing
presence.

“Since its founding in 1998, Duracold has earned its reputation for superior product performance, a
strong customer value proposition, and exceptional customer service by producing an outstanding
product that cost effectively serves its customers’ refrigeration needs,” said David Grife, President of
Arctic Industries. “We are excited to join forces with Duracold and take the combined company to the
next level.”

Harold Monsher, President of Duracold, will remain with the business to ensure a successful transition.
“I founded Duracold to be the leader in FIP in the West Coast” said Harold. “After many years of
success, I am excited about Arctic’s ability to continue adding value to Duracold’s customers and
employees.”

About Arctic Industries

Arctic Industries, LLC was founded in 1981 and is among the premier walk-in cooler manufacturers in
the United States with representatives in North America, Central America, South America and the
Caribbean Islands. Arctic Industries offers quality products at an outstanding value utilizing the finest
materials and fabricated by a highly trained and experienced staff. Arctic Industries serves its base of
customers from manufacturing facilities in Miami, FL. and Los Angeles, CA.

On January 19, 2018, Arctic Industries was acquired by Stoic Holdings, a private equity firm. Stoic
builds long-term value by making concentrated investments in market leading businesses.
For more information about Arctic Industries, Inc. please visit our website www.arcticwalkins.com or
contact the marketing department marketing@arcticwalkins.com.