Spruce Point Capital Management Announces Investment Opinion: Releases Report And Research Opinion On Monster Beverage Corp.; Says Faces Up To 25%–40% Potential Long-Term Downside Risk, Or ~$34.30–$42.80 Per Share

The Following Is an Investment Opinion Issued by Spruce Point Capital Management

Believes That Monster Is Facing Pressures From New Entrants Into Its Core Energy Drink Category and Expects Competitive Intensity to Increase as 1st Phorm and Anheuser-Busch Expand in the Market

Believes That Monster's International Expansion Is Fraught With Challenges Such as a Complex Regulatory Environment, Less Attractive Margins, and Terms of Trade Which Appear Worse as Evidenced by Rising Days Sales Outstanding

Questions the Financial Reporting and Accounting Choices Made by Management Given a Recent Auditor Change, Abnormally Low Audit Fees, Capital Expenditures and Operating Expenses That Are Difficult to Reconcile

Believes That Monster's Share Price Trades at an Irrational Premium to Coca-Cola, Is Fully Valued Relative to the Consensus Price Target, and Sees 25% – 40% Potential Long-Term Downside Risk

Spruce Point Capital Management, LLC ("Spruce Point" or "we" or "us"), a New York-based investment management firm that focuses on forensic research and short-selling, today issued a detailed report entitled, "A Monster Short", that outlines why we believe and estimate that shares of Monster Beverage Corp. (NASDAQ:MNST) ("MNST" or the "Company") face up to 25% – 40% potential long-term downside risk, or approximately $34.30 – $42.80 per share. Download and view the report and its Full Legal Disclaimer by visiting www.SprucePointCap.com for additional information and exclusive updates.