1Q21 Investor Update

AYR NORTHEASTERN PORTFOLIO Strong Presence in Massachusetts with 2 Medical and 3 Pending Adult-Use Dispensaries in Greater Boston, Announced Plans for 9 Dispensaries in Pennsylvania, 3 Open in New Jersey ayr P 1² Retail dispensaries/licenses Extraction facilities Cultivation facilities/licenses 1) Somerville will be a co-located Medical-Adult Use Dispensary Massachusetts New Jersey Pennsylvania Retail 2 Co-located Medical/Adult Use 1 Medical 1 Adult Use ● ● 17% retail revenue growth y/y Average ticket $159 415+ transactions per day Three prime adult-use locations in 2021 in Greater Boston 3 Dispensaries Closed in September 2021 Three of only 19 open dispensaries in the state, converting from medical to adult-use in 2021 9 Medical Dispensaries ● Retail revenues ramped to > $1.5M / month Average ticket $140 Six of the nine dispensaries currently opened; four of six will be located in the densely populated Philadelphia and Pittsburgh metropolitan areas Cultivation/Production 50,000 sq. ft. operational ● 200% + wholesale revenue growth y/y Selling to 112 (76%) of the state's 148 adult-use dispensaries 100,000 sq. ft. under development 30,000 sq. ft. operational 75,000 sq. ft. under development 83,000 sq. ft. operational Successfully completed first harvests and Began selling Revel and Seven Hills branded flower at both retail and wholesale Wholesale revenue of $1.5 million in first month 180,000+ sq. ft. under construction CSE:AYR.A, OTC:AYRWF 17

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