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Investor Presentaiton

CALIFORNIA: LARGEST SINGLE US CANNABIS MARKET MARKET IN I S MORE CALIFORNIA 2025e Market Size Projection (Legal, $B) 7.8 THE LEGAL 2022a Market Size $5.3B (Legal)* THAN TWICE THE SIZE OF THE NEXT BIGGEST MARKET; ALMOST A S LARGE A S THREE COMBINED THE NEXT STATES THE ILLEGAL MARKET I N CALIFORNIA I S ESTIMATED TO BE 2 X 3 X THE SIZE OF THE LEGAL MARKET, REPRESENTING HUGE POTENTIAL UPSIDE FOR LEGAL BRANDS A S MORE AND MORE COUNTIES LEGALIZE DISPENSARIES IN THEIR JURISDICTIONS 3.2 2.9 2.8 2.5 2.4 2.2 1.9 1.7 1.7 1.6 1.6 Source: Headset forecast for 2025 US Market Forecasts, as of February 2022 * California Department of Tax and Fee Administration, Legal Cannabis Retail Revenues for 2022 California Florida New York Arizona Illinois Michigan Colorado Pennsylvania Washington Massachusetts Ohio New Jersey Oregon 1.4 1.3 1.3 1.1 Virginia Oklahoma Nevada 7
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