Investor Presentaiton

DRAMATIC EXPANSION IN REVENUES ALREADY UNDERWAY GUIDING FOR 77% REVENUE GROWTH TO $161M OF ANNUAL REVENUE IN 20231 $M 45 40 35 30 1505052205 22 Retail Waterfall $M 30 13 26 25 20 20 2021A 2022A Incremental 2023E Incremental 15 10 5 CPG Waterfall -3 Wholesale Biomass Waterfall $M 120 100 80 -5 60 2021A 2022A Incremental 2023E Incremental 19 40 22 20 62 2021A 2022A Incremental 2023E Incremental Retail: Projecting $13m in additional revenues in 2023 due to revenues from 7 new dispensaries added since Q3 22, but 2023 revenue growth will be negatively impacted by the change in excise tax collection and an extremely competitive marketplace. direct CPG: In 2023, we switched to distribution for sales of GHB products to our own stores, which should result in $4m less revenue for the year. Also, a full year of PLUS and Allswell has been offset by negative growth in the California flower market and an extremely competitive retail environment. Wholesale Biomass: SoCal Phase I output in the second half drove 2022 growth. In 2023, revenues have benefitted from higher wholesale pricing and from having SoCal Phase I production all year. 1. Based on the mid-point of Q4 Guidance and actual cumulative results from 1-3Q 2023, as found in our Q3 earnings release. Implied full-year 2023 guidance is: 1) Wholesale biomass sales of $103 million to $105 million; 2) Retail revenue of $39 million to $40 million; 3) Wholesale CPG revenue of $17 million to $18 million. Please see Forward-Looking Disclosures Statement on Slide 2. 10

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