Mr. Frank Perullo reports

ASCEND WELLNESS HOLDINGS ANNOUNCES THE OPENING OF EAST COASTING DISPENSARY IN EATONTOWN, NEW JERSEY

Ascend Wellness Holdings Inc. has opened East Coasting, a new adult-use cannabis dispensary located at 178 NJ-35 Eatontown, N.J. Through a partnership agreement under New Jersey law that facilitates expanded investment opportunities for diversely owned businesses in the cannabis industry, East Coasting will operate independently, with Ascend providing operational support and resources along with cannabis reform advocate Kyle Page. Today marks the soft opening of the new storefront, with a grand opening planned for April 24.

Kyle Page will serve as owner and operator of East Coasting, bringing both lived experience and hands-on industry expertise to the dispensary. Mr. Page's journey has been shaped by the unequal enforcement of cannabis laws in black communities and the long-term barriers created by cannabis-related convictions. After entering the legal cannabis industry in 2022, Mr. Page built his career at Ascend, progressing from cultivation associate to supervisor and later returning to the company for retail and operational training in preparation for dispensary ownership.

"East Coasting represents everything I've learned through my journey, including the setbacks, the growth, and the responsibility that comes with leadership," said Mr. Page, owner and operator of East Coasting. "This is about building a dispensary that people are proud to visit, leading a team with care and creating a space that reflects community, opportunity and progress. With Ascend's support, my goal is for East Coasting to be more than a store and to become a destination and a brand that stands for inclusion, advocacy and hope for what this industry can become."

Mr. Page was initially hired by Ascend through the company's hiring efforts for returning citizens and quickly became an advocate at expungement clinics and community events, where he shared his experience and supported others navigating similar barriers. Despite facing regulatory challenges tied to his past conviction, Mr. Page persisted, continued working in the industry and ultimately partnered with Ascend to launch his own dispensary.

"Kyle's story reflects both the harm caused by prohibition and the promise of a more equitable cannabis industry," said Danielle Drummond, vice-president of social equity for Ascend Wellness Holdings. "He has demonstrated resilience, leadership and a deep commitment to community throughout his time with Ascend. East Coasting represents exactly what our social equity partnerships are designed to achieve by creating meaningful ownership opportunities for individuals who were once excluded from this industry."

East Coasting dispensary will operate from 9 a.m. to 9 p.m. daily. A grand opening celebration is planned for April 24 and will feature giveaways, promotions and in-store activations.

Ascend's Co-Lab for Social Equity program focuses on restorative justice, economic empowerment and community reinvestment. Co-Lab has also supported mentorship, education and financing for aspiring cannabis entrepreneurs from diverse backgrounds. By fostering inclusivity and supporting community-driven initiatives, Ascend aims to help create pathways to success for minority-owned businesses.

About Ascend Wellness Holdings, Inc.

Ascend is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. Ascend owns and operates state-of-the-art cultivation facilities, growing award-winning strains, and producing a curated selection of products for retail and wholesale customers. Ascend produces and distributes its in-house Ozone-, Simply Herb-, High Wired-, Honor Roll-, Royale- and Effin'-branded products.

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