Mr. Dennis Curran reports

ACREAGE ANNOUNCES EXECUTIVE LEADERSHIP TRANSITION

Philip Himmelstein, vice-president of financial planning and analysis at Acreage Holdings Inc., will assume the role of interim chief financial officer, effective Dec. 31, 2023. Carl Nesbitt has elected to step down from his role as chief financial officer to pursue new opportunities, effective Dec. 31, 2023. Mr. Nesbitt has also resigned from the board of directors of the company, effective immediately.

"Philip has been an integral member of Acreage for a number of years, and we are very pleased to welcome him to the executive team," said Dennis Curran, chief executive officer and chairman of Acreage. "Philip has demonstrated outstanding leadershi, and played a crucial role in several company milestones, including the streamlining of our operations and recent enterprise resource planning rollout. We are confident that he brings the required strategic oversight and financial acumen to guide us as we work towards the completion of our transaction with Canopy Growth Corp."

Mr. Himmelstein joined Acreage in September, 2020, with 17 years of experience in health care and financial services before joining the cannabis industry. He has held leadership roles in financial planning and analysis at Blackrock and operational finance and controllership roles at NYU Langone Medical Center. At Acreage, he has led the FP&A team, and has contributed to various corporate development and strategic planning initiatives.

Mr. Curran continued: "Carl has been a valued member of the Acreage team, and on behalf of the company and the board, I'd like to thank him for his contributions. We wish him all the best as he pursues new opportunities."

About Acreage Holdings Inc.

Acreage is a multistate operator of cannabis cultivation and retailing facilities in the United States, including the company's national retail store brand, The Botanist. With its principal address in New York, Acreage has a wide range of national and regionally available cannabis products that include the award-winning brands The Botanist and Superflux, the Prime medical brand in Pennsylvania, and others. Since its founding in 2011, Acreage has focused on building and scaling operations to create a seamless, consumer-focused, branded experience.

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