Mr. Frank Perullo reports

ASCEND WELLNESS HOLDINGS CLOSES $11 MILLION NON-DILUTIVE MORTGAGE LOAN ON FIVE PROPERTIES ACROSS THREE STATES

Ascend Wellness Holdings Inc. has closed a series of mortgage loans with CF Bank, secured by company-owned real estate in Illinois, Maryland and Massachusetts (together, the 2026 mortgage loans). The 2026 mortgage loans provide gross proceeds of $10,995,000, bear interest at a competitive rate of 8.5 per cent per annum and mature in October, 2031. The properties securing the 2026 mortgage loans are located in Chicago and Tinley Park, Ill.; Aberdeen and Ellicott City, Md.; and Boston, Mass. The company intends to use the proceeds to support the expansion of its retail footprint and pursue accretive acquisition opportunities.

"These financings unlock the value of our owned real estate and provide lower-cost, non-dilutive capital," said Sam Brill, chief executive officer and director of Ascend. "The added financial flexibility supports our densification strategy, which is driving growth and generating attractive returns on invested capital. It also positions us to seek out acquisitions that meet our return thresholds in markets where we see the greatest opportunity."

About Ascend Wellness Holdings Inc.

Ascend Wellness is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. Ascend Wellness 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 Wellness produces and distributes its in-house Ozone, Simply Herb, High Wired, Honor Roll, Royale and Effin' branded products.

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