#1Green Thumb Investor Presentation November 2020 BD-THC DOWNTIME BLEND EBOE APE PEN THE CREDIBLE EDIBLE incredibles r rythm CALM BEB RESTFUL X DOWNTIME BLEND BOE RESTOR MEET BAILEY gwalkers was inspired by leisurely str own pup, Bailey. We believe that eve erves to be this lucky. That's why we d nals in need with every Dogwalkers p hased. Together, we can help make s ore dogs are loved and walked often. APE PEN RESTFUL FEEL COMFORT 2:1 TINCTURE DOWNTIME BLEND NET W The Feel Collection NET WT: 0.5 FL OZ (15 ml) BEBOE NDICA VAPE PEN#2Cautionary Statement ON FORWARD-LOOKING STATEMENTS: This presentation includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, referred to herein as "forward-looking statements" within the meaning of the U.S> Private Securities Litigation Reform Act of 1995 or "forward-looking information" under applicable securities laws. Statements containing the words "believe", "expect", "continue", "could", "potential", "predict", "would", "intend", "should", "seek", "anticipate", "will", "opportunity," "positioned", "poised," "project", "risk", "plan", "may", "estimate" or, in each case, their negative and words or expressions of similar meaning are intended to identify forward-looking statements. By their nature, forward-looking statements involve a number of known and unknown risks, uncertainties and assumptions concerning, among other things, the Company's anticipated business strategies, anticipated trends in the Company's business and anticipated market share, that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely cause the Company's actual results, performance or achievements to be materially different from any projected results, performance or achievements expressed or implied by the forward-looking statements. In addition, even if the outcome and financial effects of the plans and events described herein are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Forward-looking statements contained in this presentation is based on the Company's current estimates, expectations and projections, which the management of the Company believes are reasonable as of the current date. The Company can give no assurance that these estimates, expectations and projections will prove to have been correct. You should not place undue reliance on forward-looking statements, which are based on the information available as of the date of this document. Forward-looking statements contained in this document are made of the date of this presentation and, except as required by applicable law, the Company assumes no obligation to update or revise them to reflect new events or circumstances. Historical Information: Historical statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. In this regard, certain financial information contained herein has been extracted from, or based upon, information available in the public domain and/or provided by the Company. In particular, historical results should not be taken as a representation that such trends will be replicated in the future. No statement in this document is intended to be nor may be construed as a profit forecast. On Future-Oriented Financial Information: To the extent any forward- looking information in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above under the heading "Cautionary Statement On Forward-Looking Statements." The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses may differ materially from the revenue and expenses profiles provided in this presentation. Such information is presented for illustrative purposes only and may not be an indication of the Company's actual financial position or results of operations. More Information: For a discussion of some of the important factors that could cause Company's results to differ materially from those expressed in, or implied by, the forward-looking statements included in this presentation, investors should refer to the disclosures contained under the headings "Risk Factors" and "Disclosure Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the fiscal year-ended December 31, 2019, available on the Investor Relations section of the Company's website at https://investors.gtigrows.com, the U.S. Securities Exchange Commission's website at www.sec.gov and Canada's System for Electronic Document Analysis and Retrieval at www.sedar.com. USE OF NON-GAAP MEASURES: In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP", the Company also discloses in this presentation certain non-GAAP financial information, as defined by the SEC, including EBITDA and adjusted operating EBITDA. EBITDA means earnings before interest, taxes, depreciation and amortization and is a measurement of financial performance without having to factor in financing decisions, accounting decisions or tax environments. Adjusted operating EBITDA is earnings before interest, taxes, depreciation, amortization, less certain non-cash equity compensation expense, including one-time transaction fees and all other non-cash items. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with GAAP are included in the financial schedules attached to this presentation as Appendix A. Non-GAAP information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP. 21#3Agenda • • The American Cannabis Market Opportunity Green Thumb Overview ⚫ Our Strategy . Consumer Products Portfolio • Retail Experience Community Impact • Financial Performance 3#4THE CANNABIS MARKET Opportunities in the cannabis industry. 4#5Projected U.S. Cannabis Market Size Rivals Alcohol + Tobacco, Driven by Illicit-to-legal Sales + New User Adoption Tobacco $120 Beer $120B US Market Size ($B) $110B -$100B $80B $70B Cannabis Spirits Statista, National Brewers Association, 2018 Wine Analytics Report, Statista; Cannabis category reflects projections from industry analysts Wine 5#6...With Massive Growth Expected Over the Next 10 Years Across a Highly Fragmented Market Cannabis Spirits Wine 20% Tobacco Management estimates; Cowen Equity Research; Beer, Wine, and Spirits reflect historical 10yr CAGR; Tobacco reflects conservatively 6 projected future 10yr CAGR; Cannabis reflects projected future 10yr CAGR Beer Projected Compound Annual Growth Rate#7Green Wave of Social & Regulatory Momentum SUPPORT FOR THE END OF CANNABIS PROHIBITION REACHES NEW HIGH 68% Bipartisan Support for Legalization1 Do you think the use of marijuana should be made legal, or not? % Yes, legal 50 50 44 36 34 28 25 23 25 16 12 58 60 50 POSITIVE REGULATORY MOMENTUM Nov 2020: 5 out of 5 states with cannabis ballot initiatives pass Nearly 2 out of 3 Americans live in 100 states with legal cannabis access 66 68 80 60 40 20 0 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 2020 GALLUP 13 Adult Use States 35 Medical Use States Sept. 2019: SAFE Act Passed House STATES Act in U.S. Congress Dec. 2018: Farm Bill Passes BILLIONS OF ESTIMATED TAX REVENUE ADDRESSES OPIOID EPIDEMIC 25% Reduction in Opioid Related Deaths2 JAMA The Journal of the American Medical Association (1) Gallup; (2) Journal of American Medicine; Medical Cannabis Laws and Opioid Analgesic Overdose Mortality in the United States, 1999-2010 7#8Yet, it is still early in the U.S. with nearly $20B legal cannabis sales and market cap at a discount. $100 $80 U.S. VS. CANADIAN MARKET OPPORTUNITY ($B)1 PROJECTED MARKET SIZE MARKET CAP ACTUAL MARKET SIZE $60 Continued growth expected to be driven by limited supply markets transitioning from medical to adult use. $40 $20.2 $20 $0 (+) $1.8 (1) Analyst reports and management estimates; November 2, 2020 8#9GREEN THUMB OVERVIEW National leader in cannabis consumer products. 9#10OUR MISSION Promote well-being through the power of cannabis. Trusted Consumer Brands | Accessible Retail | People-First | Forward-Thinking Investing 10#11Green Thumb At a Glance A place where people come first Our real power is in our people and our shared commitment to giving back to the communities that we serve. A family of cannabis brands Because well-being is personal, we make brands and products to fit different preferences and lifestyles. A national cannabis retailer Our retail stores prioritize educational and explorative experiences, shepherded by our People Care Specialists. $600 $500 $400 $300 $200 96 $100 Retail Licenses $0 2014 Founded Chicago, IL 2000+ Team members Nationwide 6 Consumer Product Brands 12 Distributed to 12 States 49 Open Stores as of 11/11/2020 Revenue Growth Green Thumb Annual Net Revenue ($M) 2016A 2017A 2018A 2019A 2020FY Consensus Estimate¹ (1) S&P Market Intelligence Consensus Estimate as of November 12, 2020 11#12Vertically Integrated Supply Chain ENSURES CONSISTENCY IN CONSUMER BRAND EXPERIENCE FROM MARKET TO MARKET Production 13 Cultivation + Manufacturing Facilities 2 Distribution Across 12 Markets + 150 million Americans 3 Retail Including owned retail channel Rise Rise Rise Rise Re Rise Re Rise cannabis 12#13GREEN THUMB OVERVIEW Our strategy & execution. 13#14Executing with Enter Open Scale Strategy 2014 - 2017 ENTER 2018 - 2019 OPEN 2020 + SCALE Establish licensing footprint in limited supply markets Drive revenue through production facility and store openings Position business for sustainable, profitable growth Solidify brand foundations for lasting consumer relationships Expand operational capacity through infrastructure automation Enhance community partnerships Maintain financial flexibility and sustainable positive cashflow 14#15Established National Presence to 45% of Americans WITH GROWTH OPPORTUNITIES AS MARKETS CONVERT FROM MEDICAL TO ADULT USE Near Term Priority Markets ILLINOIS Entered: 2015 Adult Use: 2020 2 Manufacturing Facilities 8 Open Retail Stores Adult use market Medical market PENNSYLVANIA Entered: 2017 High-Growth Medical 1 Manufacturing Facility 13 Open Retail Stores 15#16Investing in Consumer Products Excellence Portfolio of Trusted Consumer Brands topicals edibles vape flower DOGWALKERS + CANNABIS + PRE-ROLLS rythm BEBOE THE CREDIBLE EDIBLE incredibles The Feel Collection TM Dr Solomon's MEDICAL PAIN RELIEF Data-Driven Portfolio Assortment FY 2019 Product Category $ Share and % Growth vs. YA 1 +18% +24% +7% +16% +24% +44% Pre-Rolls ■ Flower Vape ■ Edibles ■ Concentrates ■ Health & Beauty Strategic Growth Priorities BRAND Consumer-driven brand foundations OPERATIONAL EFFICIENCY Capacity & Automation STRATEGIC POINTS OF DISTRIBUTION Third-party and owned-retail (1) BDS Analytics: California, 2019 16#17We are a family of brands. THE CREDIBLE EDIBLE rythm BEBOE incredibles De Solomon's MEDICAL PAIN RELIEF TM DOGWALKERS + CANNABIS + PRE-ROLLS The Feel Collection.TM 17#18Diversified Brand Portfolio Positioned to Promote Well-being Across Consumer Segments Poised to capture growth across consumer need- states that promote well-being (comfortable, Well-being need-state healthy, happy) HEALTHY COMFORTABLE HAPPY VALUE incredibles SUM PEN PRE-ROLLS Dr Solomon SCIENCE - NATURE CBD RICH SALVE CBD:THC 250M Price FEEL DREAMY 1:1 TINCTURE Feel Collection rythm Energize BEBOE PREMIUM 18#19rythm TM GREEN THUMB GROWING FOR GOOD - PURPOSE DRIVEN BRANDS HIGH TIMES High Times May 16 The "Brownie Scout" strain from Illinois just tested at 37.5% THC but some don't think it's even possible for a plant to contain that much. Can this prove them wrong? cksucker rythm BRAND PROMISE Find Your Rythm AWARD-WINNING PRODUCT Premium Cannabis Flower and 100% Full-Spectrum Cannabis Vape Voted Best Strain in Chicago by The Chicago Reader High Times Recognized THE FEW PROUD Pride is year-round for Rythm and we will continue to uplift the LGBTQIA+ community with our partners for SUPERVI rnie GLBT BIZ Society Historical museum & archives i AY WER 882 Comments 2.4K Shares HIGHTIMES.COM Did Illinois's Weed Just Kick Cali's Ash? The "Brownie Scout" strain from Illinois just tested at 37.5% THCa. 3.5K WE SUPPORT GLBT Historical Society 19 19#20+DOGWALKERS+ CANNABIS PRE-ROLLS GREEN THUMB FOR GOOD - PURPOSE DRIVEN BRANDS MEET BAILEY Dogwalkers was inspired by leisurely strolls with our own pup. Bailey. We believe that every dog deserves to be this lucky. That's why we donate to animals in need with every Dogwalkers product purchased Together, we can help make sure more dogs are loved and walked often. DOGWALKERS +CANNABIS + PRE-ROLLS FIVE MINI PRE-ROLLS INDICA 1.756/0.060 NET WT. SIT DOGWALKERS IS PROUD TO PARTNER WITH THESE ORGANIZATIONS: Foundation TJO Animals NSPCA PETCONNECT RESCUE TAPS No-Kill Animal Shelter VETERANS DAY HEEL VETERANS DAY DOGWALKERS LEND A Helping Paw #OPERATIONFREEDOM DOGWALKERS IS PROUD OF OUR ECO-FRIENDLY PACKAGING BRAND PROMISE Enjoy the Journey AWARD-WINNING PRODUCT Full Flower Pre-Rolls Mini Multi-Pack and Big Dogs Clio Award Winner for Design Recognized in Packaging World Magazine GWALKERS C The box is made out of FSC Certified paper containing up to 85% recycled material. ed with soy-based ink and WE SUPPORT Proceeds support Community Animal Shelters in need Partnership with Veterans organization Operation 1620 20#21THE CREDIBLE EDIBLE incredibles GREEN THUMB FOR GOOD - PURPOSE DRIVEN BRANDS NEW! CBN-THC FOUNDED 2010 SQUEEZE THE DAY Delicious without a doubt. MADE WITH LOVE HAKE MY Full of wonder, NOT WORRY BRAND PROMISE The Credible Edible FOUNDED Shores SNOOZZZE BERRY 20 100 cannabis infused gummy THE CREDIBLE EDIBLE incredibles NET WT 0602 000 10 THE CREDIBLE EDIBLE incredibles STRAWBERRY CRUNCH-100MC cannabis, white chocolatey strawberries & crispies NET WT L500Z 450 10 AWARD-WINNING PRODUCT Flavor-forward confections with the effect you can expect chocolatey bars, gummies, tarts Recognized by High Times. Cannabis Cup, GQ Magazine, Cannabis Business Awards LOVED BY CONSUMERS "With incredibles, I get the same experience every single time, and I will always choose that consistency." - Jordan, medical patient 21#22Investing in the Retail Experience National Footprint 49 Open Stores as of 11/11/2020 Pipeline of licenses to more than double opened stores High Growth Retail Omnichannel Personalization Same Store Sales Exceed 65%+ 360 STOREFRONT Our digital storefront, delivery, and brick-and-mortar experience allows for anytime, anywhere accessibility LOYALTY Owned customer analytics drives basket size and strengthens customer relationships RISE MANDEL PUBLIC LAR WEST TALM BEACH eRise ise Rise E se Rise Rise Rise Rise Rise Re Rise Re Rise cannabis ASSORTMENT Variety of product categories and price points for optimal consumer selection Management analysis 22#23Where America Shops for Cannabis Green Thumb RISE Date October 8, 2020 1001 Pay to the Order Of Loaves & Fishes First Day Profits $ First Day Profits Dollars 7 Loaves & Fishes ⑆12345678⑆00123456789⑆ 1001 Rise Naperville Team Authorized Signature R Cranes сча W R LET MY OF PEOPLE GROW OFF SUPPORTING OUR TEAM MEMBERS' RIGHT TO VOTE. VOTE RIGHT NOW! We will be opening two hours later than our normal store hours. Thanks for your support! 2020 RISE Best CITY PAPER 20 of PGH Readers Poll Pittsburgh City Paper's 'Best Of PGH' Worth the Drive BEST MEDICAL MARIJUANA DISPENSARY 23#24We are growing every day. PEOPLE-FIRST EMPLOYER Do Ent MAKING LOCAL IMPACT PROMOTING SOCIAL EQUITY TAKE ROOT at Green Thumb WITH OUR IN-HOUSE INCUBATION PROGRAM people laughing at work, It is our 2000+ people nationwide that make Green Thumb special. Humble and hardworking, we are honored to be awarded 2019 mg Magazine Leading Industry Employer. CARE is a core value of Green Thumb, and it is in that spirit that our teammates across the country donate time and money to the local communities in which we operate. LEAP We believe that with this opportunity comes great responsibility. With GRATITUDE as a core value, social equity and diversity and inclusion are key tenants of our corporate social responsibility program to ensure we do our part in supporting opportunity to those disproportionately impacted by the war on drugs. 24#25Green Thumb Growing For Good MISSION: PROMOTE WELL-BEING THROUGH THE POWER OF CANNABIS Corporate Social Justice Use our influential force to bring restorative justice to the cannabis industry while maintaining a relationship between our company and communities in which we work and live. GROWING Community Engagement Support community revitalization initiatives designed to promote economic development and create healthier and safer environments in neighborhoods disproportionately harmed by the failed War on Drugs. Diversity & Inclusion Lead by example through active support and inclusion for Green Thumb's diverse workforce and stakeholder community. FOR GOOD Environmental Stewardship Identify and invest in new opportunities to make an eco-friendly impact through environmentally smart growing, manufacturing and packaging. 25#26National Brand Family Program Supports Clemency Initiative GREEN THUMB GROWING FOR GOOD - PURPOSE DRIVEN BRANDS At Green Thumb, we condemn systemic racism, prejudice and injustices faced by people of color. We acknowledge the widespread inequalities within the legal cannabis space and recognize that these are the direct consequence of the war on drugs, which unjustly targets Black, Latino, and Indigenous communities. Receive a commemorative pin for every TWO Green Thumb products that you pick up at participating cannabis stores! We are committed to a future where those who have suffered criminally as a result of cannabis and systemic racism are not only expunged of those 'crimes'. We value the opportunity to fight for and expand the cannabis community to all, regardless of race and socioeconomic status. < Green X Thumb LAST PON Rise Learn More. "Waiting to Breath" Grow with us. Click to view a short documentary to learn about the impact of the war on drugs and Last Prisoner Project's Clemency and Reentry Initiatives. Herer& Rathbun& Baca& DeAngelo& Peron. #cannabisforall We honor the cannabis activists throughout history who confronted these injustices head-on. We believe that as an organization in the legal cannabis space that we have a fundamental obligation to work toward full freedom and intergenerational opportunity for anyone affected by the criminalization of cannabis. CANNABIS CANNABIS CANNABIS FOR ALL FOR A FOR ALL EPTEMBER 1-30 CANNABIS FOR ALL EPTEMBER 1- CANNABI FOR ALL EPTEMBER 1-74 CANNABIS FOR ALL F PROP 215 SEPTEMBER 1-30 CANNABIS FOR ALL PTEMBER 1-30 CANNABIS FOR ALL PTEMBER 1-30 CANNABIS L FOR ALL EPTEMBER 1-30 SEPTEMBER 1-30 SEPTEMBER 1 - 3 CANNABIS CANNABIS CANNABIS FOR ALL FOR ALL FOR ALL EPTEMBER 1-30 SEPTEMBER 1-30 SEPTEMBER 1 - 3 CANNABIS CANNABIS CANNABIS FOR ALL FOR ALL FOR ALL SHARE ON IG #cannabisforall collect all four pins and tag @gtigrows to we This September, Green Thumb will partner with the Last Prisoner Project, supporting their Clemency Initiative, highlighting our commitment to #cannabisforall Thank you Green Thumb wants to thank our dispensary partners, and all of those whose purchases supported our September program with LPP. Through your participation, we were able to raise over $100,000 for the Last Prisoner Project's national clemency initiative. Green X Thumb LAST PRISONER PROJECT 26 FOR MORE INFORMATION, Visit: www.gtigrows.com/people/cannabis-for-all; www.lastprisonerproject.org#27Green Thumb Leadership Team Ben Kovler FOUNDER & CEO CHAIRMAN Anthony Georgiadis Beth Burk Jennifer Dooley CHIEF FINANCIAL OFFICER DIRECTOR GENERAL COUNSEL & SECRETARY CHIEF STRATEGY OFFICER Andrew Grossman Dina Rollman Dan Shaker EVP, CAPITAL MARKETS SVP, GOVERNMENT SVP, NATIONAL SALES & REGULATORY AFFAIRS Swadheen Sehgal CHIEF INFORMATION OFFICER Greg Flickinger SVP, CPG OPERATIONS & SUPPLY CHAIN 27 +7#28Board of Directors with Diverse Backgrounds Glen Senk BRAND Grew Anthropologie into a billion- dollar brand as President in 1994 Named Executive Vice President of URBN in 2002. Elected to the company's board of directors in 2004 Named CEO of URBN in 2007 CEO for David Yurman; founded Front Row Partners in April 2014. Currently serves on the board of directors of Aritzia (TSE: ATZ), Boden, Kendra Scott and Opening Ceremony. Wendy Berger REAL ESTATE Chief Executive Officer & Founder of WBS Equities, LLC., specializing in ground-up construction, renovation, development, sale lease back transactions and acquisitions. Co-founder and COO of Neoglyphics Media Corporation, one of the country's first website development firms. Employee number 11 at Orbitz and served as Director of Strategic Enterprise Planning. Wes Moore COMMUNITY Chief Executive Officer of Robin Hood, New York City's largest poverty-fighting organization, bestselling author, and decorated army combat veteran. Founder and CEO at BridgeEdU, an innovative platform addressing the college completion and job placement crisis. Served as a White House Fellow to Secretary of State Condoleezza Rice. • William Gruver GOVERNANCE During a 20-year tenure at Goldman Sachs & Co, transformed the equities division through the restructure and redeployment of people and capital to one of the firm's largest and most profitable divisions. Serves as director and sits on the audit committees, of Geisinger Health and Private Client Bank. National arbitrator of the Financial Industry Regulatory Authority Decorated veteran; qualified officer of the deck in the nuclear submarine force of the United States Navy. Alejandro Yemenidjian OPERATIONS Co-founder of Integral Associates, which was acquired by Green Thumb in 2019. Served as Chairman of the Board and CEO of Tropicana Las Vegas Hotel & Casino, Inc. Served as Chairman of the Board and Chief Executive Officer of MetroGoldwyn-Mayer Inc. Served as Director and President of MGM Resorts International, Inc. ("MGM") (formerly MGM Grand, Inc. and MGM Mirage Resorts, Inc.) CEO Ben Kovler is the Chairman and CFO Anthony Georgiadis is a Director. 28#29GREEN THUMB OVERVIEW Financial Performance. 29#30Strategy hits milestone in building sustainable profitable growth +31% SEQUENTIAL QUARTER REVENUE GROWTH, 55% GROSS MARGIN, 34% ADJUSTED OPERATING EBITDA, $9.6M NET INCOME, $0.04 PER SHARE Summary Income Statement (USD $000s) Revenue Gross Profit Adjusted Operating EBITDA¹ Net Income Net Income Per Share Summary Balance Sheet 3 Months Ended Sept. 30 2020 Quarterly Net Revenue ($M) vs. Adjusted Operating EBITDA (%) 2019 $175 40% $157,104 $89,113 35% $150 86,957 54,816 30% $125 53,182 39,395 9,644 (14,591) 0.04 (0.07) Revenue ($M) 25% $100 20% $75 15% $50 10% As of $25 (USD $000s) Cash Debt² Sept. 30, 2020 5% $78,091 $0 0% 3Q19 4Q19 1Q20 2Q20 3Q20 97,059 Revenue Adj. Op. EBITDA % (1) Adjusted Operating EBITDA defined as earnings before interest, taxes, depreciation, and amortization, adjusted for other income, non-cash share-based compensation, one-time transaction related expenses, or other non-operating costs. (2) Debt is $97,059 thousand, which includes $301 thousand of short-term debt due within one year; amount carried on the balance sheet is recorded net of debt discounts of $11,796 thousand as of September 30, 2020. Adjusted Operating EBITDA Margin 30#31Fully Diluted Capitalization Table SHARE CLASS (AS OF 10/31/2020) Share Class Subordinate Voting Shares Fully Diluted Share Count¹ 173,542,286 7,047,300 Multiple Voting Shares Super Voting Shares 32,453,100 TOTAL Basic Shares Outstanding 213,042,686 Employee Stock Ownership Plan Exchangeable Receipts Warrants TOTAL Fully Diluted Shares Current Float of Shares Outstanding 6,431,657 147,095 2,520,794 222,142,232 70%+ (1) In order to determine diluted loss per share, it is assumed that any proceeds from the exercise of dilutive stock options would be used to repurchase common shares at the average market price during the period. The diluted loss per share calculation excludes any potential conversion of stock options and convertible debt that would decrease loss per share. As a result, the Company's calculation of basic loss per share and diluted loss per share include the same number of share equivalents. 31#32spectio rocess allergens rythm Falance rythm. rythm. PRIDE rythm 2020 01 +DOGWALKERS CANNABIS PRE-ROLLS SUPPORT Your Local FLORIST incredibles STRAWBERRY CRUNCH-100% 4:20 Make a well-being check today. 01 SUMMER PEACH 10/ SATIVA BLEND BEBOE FINEST CANNABIS Feel Collection Feel Collection Rise 回 REGISTER to VOTE What you water, grows. Cultivate hope.. BEBOE Green Thumb Thank You. CONTACT Investor [email protected] BEBOE RISE RISE GALIFORNIA LIGHT UP THE NIGHT DOGWALKERS 01 RW given less than a month to live. FOUNDED 2010 1865 JUNETEENTH M#33Appendix A NET INCOME TO ADJUSTED OPERATING EBITDA RECONCILIATION (USD $000s) 3 Months Ended Sept. 30 2020 2019 Net Income (Loss) Before Noncontrolling Interest (GAAP) $10,753 $(14,338) Interest income (5) (408) Interest expense Income tax expense Other income Depreciation + amortization EBITDA¹ (non-GAAP measure) Share-based compensation, non-cash 4,460 5,912 28,436 3,624 (6,433) 6,586 11,535 7,685 48,746 9,062 4,435 3,564 Acquisition, transaction + other non-operating costs 1,160 Adjusted Operating EBITDA² (non-GAAP measure) 53,181 13,786 Audited Financials; (1) EBITDA defined as earnings before interest, taxes, depreciation, and amortization; (2) Adjusted Operating EBITDA defined as earnings before interest, taxes, depreciation, and amortization, adjusted for other income, non-cash share-based compensation, one-time transaction related expenses, or other non-operating costs. 333#34Track Record of Strategically Scaling National Footprint THROUGH 33 LICENSE WINS AND 14 M&A TRANSACTIONS SINCE 2015 Development of Green Thumb's Operating Infrastructure Consumer Products Business Illinois . 2015: Won 2 cultivation/processing Nevada • 2015: Acquired 1 cultivation, 1 processing • 2019: Acquired Integral Associates: 2 Production in Las Vegas Maryland • 2017: Acquired 1 processing • 2018: Won 1 cultivation license 2019: 1 cultivation license approved Massachusetts . 2016: Won 2 cultivation/processing Pennsylvania 2017: Won 1 cultivation/processing Florida 2018: Acquired 1 cultivation/processing Ohio • 2019: Won 1 processing license; Awarded cultivation license Arkansas . • 2018: Applied, did not win New York • 2018: Acquired 1 cultivation/processing New Jersey 2018: Won 1 cultivation/processing California 2019: Acquired Beboe brand Colorado . 2019: Acquired incredibles brand Connecticut • 2019: Acquired Advanced Grow Labs (AGL): 1 cultivation/processing Retail Business Illinois • 2015: Won 1 retail license 2016: Acquired 50% of 1 retail store 2017: Acquired 2 operating retail stores 2019: Acquired 1 operating retail store Nevada • 2015: Acquired 2 retail licenses • 2019: Acquired Integral Associates: 3 retail in Las Vegas; won 8 additional retail licenses Maryland • 2017: Won 1 retail license; Acquired 2 retail licenses Massachusetts • 2016: Won 2 retail licenses • 2018: Acquired 1 retail location in Boston Pennsylvania . • 2017: Won 3 retail; Partner to own 3 additional retail 2018: Won 12 additional retail licenses Florida • . 2018: Acquired 30 retail locations • 2019: Program expansion for 5 additional retail locations Ohio • 2018: Won 5 retail licenses Arkansas • 2018: Applied, did not win New York • · 2018: Acquired 4 retail licenses New Jersey • 2018: Won 1 retail license • California © 2018: Won 1 retail license in West Hollywood (includes consumption lounge) 2019: Won 1 retail license in Pasadena and 1 retail license in Culver City Connecticut • 2019: Acquired AGL: 1 retail license • • • 2019: Acquired 1 retail store 34