Under the subclips tab, you can select a single or multiple subclips and right-click over it to get the contextual menu. Once you have the files selected, right-click over the files and choose Export as > (select what category you would like to export for, ie. Audio, Distribution, DNxHD, DNxHR, Editing, Rewrap, and Web. You will also have recently used transcode formats at the top of that list for a quicker workflow.
Once you select your format for export a new window will appear with a settings rich sub-menu that gets granular with options that meet your needs.
Export & Transcode Subclips Menu
In the image above the destination of our subclips is chosen in the directory.
The two subclips that we will create will get placed onto our Jellyfish Share
(CaseStudies via /Volumes/CaseStudies/Test).
You can choose a naming convention from the dropdown menu.
You can see previews of how the files will be displayed on your storage by clicking on Show Preview
Encode Settings for your subclips
As mentioned previously, you can select a frequently used transcode preset or select one from the appropriate category.
The settings can be changed for the subclip via file format, video, and audio.