Mr. Sam Brill reports

AWH STOCKHOLDERS APPROVE REVERSE STOCK SPLIT, A PREREQUISITE TO A U.S. EXCHANGE LISTING

Ascend Wellness Holdings Inc. stockholders approved an amendment to the company's certificate of incorporation to effect a reverse stock split of the company's Class A common stock at the company's special meeting of stockholders held virtually on Friday, Aug. 28, 2026.

"With this approval in hand, we are better positioned for a listing on a major U.S. exchange. When conditions allow, we are ready to act on terms that are right for our business," said Sam Brill, chief executive officer and director of AWH. "I want to thank our shareholders for their continued support and for their belief in what we are building at Ascend."

Voting results

Of the 203,033,639 Class A common shares outstanding as of the July 7, 2026, record date, holders of 113,702,839 shares, or approximately 56 per cent, were represented in person or by proxy at the special meeting, constituting a quorum. Approval of the reverse stock split required the affirmative vote of a majority of the outstanding Class A common shares.

  
                Shares  % of outstanding

For        112,305,378              55.3%
Against      1,391,090               0.7%
Abstain          6,371              ~0.0%

Stockholders also approved a related proposal to adjourn the special meeting to solicit additional proxies, though adjournment was not necessary. Final voting results will be reported in a current report on Form 8-K filed with the U.S. Securities and Exchange Commission.

Next steps

Stockholder approval authorizes the company's board of directors to determine whether and when to implement the reverse stock split at a ratio of between 1:10 and 1:50, at its discretion. The exact ratio would be determined in connection with the company's planned application to list the Class A common shares on a national securities exchange. The board may also determine not to implement the reverse stock split. The board's authority to effect the reverse stock split will expire on the earlier of Aug. 28, 2027, or the listing of the Class A common shares on a national securities exchange. If implemented at a ratio greater than 10-to-1, the approval also constitutes stockholder approval for purposes of Canadian Securities Exchange Policy 4, as referenced by CSE Policy 9, subject to any required CSE acceptance.

Stockholders with questions may contact the company's transfer agent, Odyssey Trust Company, at 888-290-1175 or shareholders@odysseytrust.com.

About Ascend Wellness Holdings Inc.

AWH is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania.

We seek Safe Harbor.