Retail Update and Investment Thesis

CULTIVATION UPDATE Canopy at Current YE21 May State (ft²) 2022 IL 113,000 113,000 MI 28,000 28,000 MA 17,000 54,000 NJ 16,000 16,000 OH 2,000 2,000 • . Total 176,000 213,000 NJ canopy expansion underway; expect 42,000 sq. ft total by year-end • First harvest of the expanded canopy in Illinois is • expected to benefit Q2 Completed 37,000 sq. ft of the canopy expansion in Massachusetts; the first harvest is expected before summer AWH

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