Merger Presentation

THE MARKET Columbia Care is the first national operator to enter the fragmented $1.6B(1) Colorado cannabis market (1) BDS Analytics (2) US Census June 2019 (3) Marijuana Business Factbook 2019 Colorado Market Facts • Second largest cannabis market in the U.S. with an estimated $1.6B in annual sales in 2019 • 5.7M total population (2) with over 85M visitors annually • Highly fragmented market with only 11% of recreational retail license holders having more than three dispensaries (3) Legalized sales are 4.5x medical market sales • Legalized home delivery being introduced in 2021 • Robust wholesale market ● Millions $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 $0 Jan 2014 Jul 2014 Jan 2015 Jul 2015 State of Colorado Marijuana Sales (4) Colorado Department of Revenue Jan 2016 Jul 2016 Jan 2017 Jul 2017 Jan 2018 Jul 2018 Jan 2019 -Retail Marijuana Sales ....... Medical Marijuana Sales Source: Retail Marijuana sales as reported on the Retail Marijuana Sales Tax Returns and Medical Marijuana Sales as reported on the State Retail Sales Tax Return (DR 100). Prepared by: Colorado Department of Revenue, Office of Research and Analysis, [email protected] Publish date: October 2019 Total Marijuana Sales Jul 2019 COLUMBIA + (GREEN) 7

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