The Next Generation Cannabis Platform

Primary Markets Regulatory Updates Virginia Continue to see positive progression for the Medical Cannabis Program ● • Patient Growth expected to continue in 2023 with medical clean-up bill No new licenses for medical program ● ● ● Transition from Board of Pharmacy to Cannabis Control Authority on January 1, 2024 Hemp regulation implementation Existing governor leadership continues to be a hurdle for adult-use implementation On November 7, 2023, Democrats retained a majority in the Senate (21-19) and flipped the House (51-48) (1 (15) ● • Democrats control the Virginia General Assembly First time in over 50+ years, an opposing party has flipped a chamber with a Governor from the opposing party 16

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