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Business Description

We were organized in Delaware as a limited liability company on March 28, 2012 We maintain our principal place of business at 13901 Sutton Park Drive South, Building A, Suite 100, Jacksonville, Florida 32224 We do business under our company or limited liability company name, the name “ICE HOUSE AMERICA,” and the trademarks described m Item 13 (the “Marks”) If we have an agent m your state for service of process, we disclose that agent in Exhibit F The Franchise Offered We grant franchise rights to open and operate Ice Born Houses and Ice Born Kiosks (collectively, “Ice Born Machines”) at locations approved by us under the terms of a Franchise Agreement (Exhibit B) In this disclosure document, we call the IceBorn Machine that you operate under the Franchise Agreement the “Machine ” IceBorn Machines are self-contained vending units which manufacture, store, bag and dispense chipped or cubed ice and water on demand IceBorn Machines are customizable with a variety of standard and optional features, including remote management of performance (the “Smartice Remote Management System”), reverse osmosis purification, alternative exterior finishing, multiple payment system options, and water dispensers IceBorn Machines differ primarily m their physical footprint, cost and production and storage capacity The “IceBorn House,” the largest model, has a 6,500 pound ice storage capacity and is usually deployed at busy commercial centers and high traffic locations The ‘IceBorn Kiosk” is designed for smaller locations and offers a 2,400 to 3,000 pound ice storage capacity

Prior Experience

We are a wholly-owned subsidiary of Twice The Ice Holdings, LLC (“Twice The Ice”), a Delaware limited liability company which shares our principal business address We became a subsidiary of Twice The Ice in June 2013 following a corporate restricting Twice The Ice is owned in substantial part by TTI Investments, LLC (‘TTI”), a Delaware limited liability company whose principal business address is One Rockefeller Plaza, 20th Floor, New York, New York 10020 Twice The Ice and TTI are holding companies for various ice and water vending business-related entities In March 2011, TTI was acquired by an investment fund sponsored by Ulysses Management, LLC (“Ulysses”), which shares TTI's principal business address Ulysses is a diversified investment firm that makes control investments, typically m growing middle market companies m a variety of industries Our affricate, Ice House America, LLC (“IHA”), manufactures and distributes various products that produce ready-made, bulk or bagged ice and bulk water to the consuming public, including IceBorn Machines IHA is a Florida limited liability company and shares our principal business address IHA manufactures IceBorn Machines m its factory located m Moultrie, Georgia, and sells IceBorn Machines to our franchisees IHA does not operate IceBorn Machines, but it does own and operate 107 ice vending units of various sizes under different trademarks Since 2003, IHA also has entered into agreements with independent distributors (“Distributors”) and owner-operators (“Owners”) for the manufacture, sale, and distribution of ice vending units under the trademark ‘Twice the Ice®” (‘Twice the Ice Machines”) 16 Distributors and over 1,000 Owners currently operate 3,220 Twice the Ice Machines m 30 states Although Distributors and Owners may operate existing Twice the Ice Machines in your state, IHA currently only offers independent business opportunities for Twice the Ice Machines in the eastern United States, and we only offer franchise opportunities for IceBorn Machines m the western United States Existing independent Owners who previously purchased Twice the Ice Machines but who are converting to our franchise model may continue to use the ‘Twice the Ice®” trademark with their Twice the Ice Machines We have offered IceBorn Machine franchises since May 2012 We have no other business activities and have not offered franchises in other lines of business We have no predecessors We do not operate IceBorn Machines Except as described above, we have no other affiliates that provide products or services to franchisees or offer franchises m any line of business

Business Offered

We grant franchise rights to open and operate IceBorn Houses and IceBorn Kiosks (collectively, “IceBorn Machines”) at locations approved by us under the terms of a Franchise Agreement (Exhibit B) In this disclosure document, we call the IceBorn Machine that you operate under the Franchise Agreement the “Machine ” IceBorn Machines are self-contained vending units which manufacture, store, bag and dispense chipped or cubed ice and water on demand IceBorn Machines are customizable with a variety of standard and optional features, including remote management of performance (the “Smartice Remote Management System”), reverse osmosis purification, alternative exterior finishing, multiple payment system options, and water dispensers IceBorn Machines differ primarily m their physical footprint, cost and production and storage capacity The “IceBorn House,” the largest model, has a 6,500 pound ice storage capacity and is usually deployed at busy commercial centers and high traffic locations The ‘IceBorn Kiosk” is designed for smaller locations and offers a 2,400 to 3,000 pound ice storage capacity We grant multi-unit development rights to qualified franchisees, who then will have the right to place a number of IceBorn Machines within a defined geographic area (the “Zone”) according to a mandatory development schedule (the “Development Schedule”) We grant these rights under the Multi-Unit Zone Franchise Agreement (Exhibit C) You will sign our then current form of franchise agreement for each IceBorn Machine developed under the Multi-Unit Zone Franchise Agreement Each then current form of franchise agreement may differ from the version of Franchise Agreement attached to this disclosure document However, under the franchise agreements, you will not pay the initial franchise fee for any IceBorn Machine that you place within the Zone during the Multi-Unit Zone Franchise Agreement's term m compliance with the Development Schedule, and you may pay a reduced royalty fee depending on the number IceBorn Machines you purchase and simultaneously operate

Initial Fees

You must pay us an initial franchise fee m a lump sum when you sign the Franchise Agreement The initial franchise fee is $7,000 (unless you sign a Multi-Unit Zone Franchise Agreement, as described below) You must purchase an IceBorn House or IceBorn Kiosk from IHA when you sign the Franchise Agreement Currently, your Machine will range from $81,200 to $138,450 depending on the products and options you select for your Machine If IHA ships and installs your Machine, you must pay IHA delivery and installation fees and costs, which will range from $8,000 to $15,500 These fees and costs depend on current packing and shipping costs and the distance of your Machine's site from IHA's manufacturing facility We will provide an initial training program for you (or if you are an entity, for your principal owner) at no additional charge If you would line on-site training prior to opening the Machine, we may provide that training to you for an additional fee, which we estimate will not exceed $2,000 You have the option to purchase one to 3 boxes of bags for ice dispensed at the Machine from IHA If you do so, you will pay IHA approximately $100 to $300, depending on the number of boxes you choose to purchase You also have the option to purchase marketing materials from IHA for the opening promotion of your Machine, for which we estimate you will pay IHA between $200 and $500 IHA 2019 The initial franchise fee and other expenses we describe m this Item 5 are nonrefundable Multi-Unit Zone Franchise Agreement You must pay us a lump sum development fee when you sign the Multi-Unit Zone Franchise Agreement The development fee is $7,000 multiplied by the number of IceBorn Machines you agree to place in the Zone pursuant to the Development Schedule, including the IceBorn Machine covered by the first Franchise Agreement you sign We will insert this fee m the Multi-Unit Zone Franchise Agreement before signing it The development fee is nonrefundable If you sign the Multi-Unit Zone Franchise Agreement, you will not pay a separate initial franchise fee for any IceBorn Machine you purchase and place within the Zone

Financing

We do not offer direct or indirect financing we do not guarantee your note, lease, or obligation

Franchisee Revenue and Profit

The FTC's Franchise Rule permits a franchisor to provide information about the actual or potential financial performance of its franchised and/or franchisor-owned outlets, if there is a reasonable basis for the information, and if the information is included m the disclosure document Financial performance information that differs from that included m Item 19 may be given only if (1) a franchisor provides the actual records of an existing outlet you are considering buying, or (2) a franchisor supplements the information provided m this Item 19, for example, by providing information about possible performance at a particular location or under particular circumstances As of December 31, 2018, there were a total of 65 franchised IceBorn Machines in the United States We excluded from this financial performance representation 10 IceBorn Machines that were not open and m operation or had incomplete revenue data for the full 2018 fiscal year The following financial performance representation represents the average annual results for 55 IceBorn Machines (26 IceBorn Houses and 29 IceBorn Kiosks that vend primarily ice and water) open for the frill 2018 fiscal year in the following categories