Investor Presentaiton

APPENDIX שיי Financial model assumptions¹ Florida: Assumes existing two cultivation facilities continue to produce inputs for sellable cannabis products in 2021 and 2022 Assumes incremental cultivation capacity being added in 2021 is able to produce product inputs for sellable cannabis products in 2022 Assumes we are able to execute our plan to build out 18 additional stores during 2022 Assumes operating expenses increase by ~$11M in 2021 relative to 2020 and an incremental ~$11M in 2022 relative to 2021 Massachusetts²: Nevada: Texas: Assumes a 3rd store opens in Q2 2021 and 4th in Q4 2022 Assumes we start construction on a second cultivation facility in late 2021, which is expected to be finished in 2022 and increase our total canopy in Massachusetts to the state statutory cap of 100,000 square feet Assumes we will be able to source some supply from wholesalers, which may be sold at lower gross margins than supply we cultivate ourselves Assumes operating expenses increase by ~$10M in 2021 relative to 2020 and an incremental -$0.2M in 2022 relative to 2021 Assumes an uptick in traffic in 2021 relative to 2020 given COVID-19 impact Assumes we are able to sell 3rd-party products in store Assumes operating expenses decrease by ~$0.6M in 2021 relative to 20203 and operating expenses increase by less than $0.1M in 2022 relative to 2021 Assumes expansion of Texas medical cannabis program to take effect in Q4 2021 Assumes we expand our cultivation capabilities in 2021 with further expansion in 2022 Assumes 1 store opens in 2021 Assumes operating expenses increase by ~$5M in 2021 relative to 2020 and an incremental ~$10M in 2022 relative to 2021 Pennsylvania: Assumes 6 stores open in 2021 Assumes we finish initial phase of cultivation facility buildout in mid-2021 with further expansion to the facility in 2022 Assumes we will be able to source products from wholesalers, which may be sold at lower gross margins than supply we cultivate ourselves Assumes adult-use sales by Q4 2022 Assumes operating expenses increase by ~$15M in 2022 relative to 2021 Georgia+: Assumes 3 medical stores open in Q4 2021 and another 7 by the end of 2022 Assumes operating expenses increase by ~$15M in 2022 relative to 2021 1. See "Forward-Looking Statements" disclaimer on pages 3-4. 2. The current statutory cap on ownership by a single entity is three adult-use dispensaries and three medical-use dispensaries. Should the cap be raised or removed, Parallel has plans to pursue the necessary steps to open additional locations. If the cap is not removed, we plan to decouple our adult-use and medical-use licenses in Brookline to open a fourth location solely for medical-use sales. 3. In order to create comparability between years, Nevada 2020 operating expenses being compared exclude a 1-time -$23M asset impairment charge 4. The regulations surrounding retail infrastructure in Georgia have not yet been finalized, and the cap set could be higher or lower than this number. 57

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