Mr. Charlie Bachtell reports

CRESCO LABS ANNOUNCES DENNIS OLIS TO RETIRE AS CHIEF FINANCIAL OFFICER

Dennis Olis, chief financial officer, will retire from Cresco Labs Inc. after a planned transition to Sharon Schuler, an experienced financial and strategy executive.

Ms. Schuler recently joined Cresco Labs while preparing to take the role of chief financial officer upon Mr. Olis's departure. Ms. Schuler brings an extensive corporate finance background in publicly traded wholesalers and retailers, most recently as an executive leadership team member at BJ's Wholesale Club, a membership warehouse club spanning 244 clubs and 178 gas stations across 20 states with $20-billion in annual revenue.

"Dennis has been CFO for Cresco Labs during a period of tremendous growth, profitability improvement and companywide maturation," said Charlie Bachtell, chief executive officer of Cresco Labs. "He has been instrumental in laying the foundation of Cresco Labs, helping us build the capabilities and the financial position that will support stability and growth for years to come."

"It has been an honour to be entrusted with guiding the financial strategy of Cresco Labs through such transformative years," said Mr. Olis, chief financial officer. "The company is only getting stronger and more valuable, and I have great confidence that Sharon is the right person to lead this next chapter. I look forward to integrating her into the organization and industry in the months ahead to ensure her success when we officially transition the CFO responsibilities later this year."

Mr. Olis has served as Cresco Labs' chief financial officer since July, 2020. During his tenure, Cresco Labs grew from $125-million in annual revenue to more than $735-million today. The company also saw significant profitability improvements with adjusted EBITDA margin improving by 2,900 basis points and annual operating cash flow improving by over $100-million annually. He successfully prepared the company for future U.S. listings through conversion to U.S. GAAP (generally accepted accounting principles) and SOX (Sarbanes-Oxley Act) compliance readiness.

"We are pleased to welcome Sharon," said Mr. Bachtell. "Her extensive experience in executive leadership roles for both private and public companies focused on strategy, operations and financial planning is a strong fit for Cresco Labs. She has a proven track record of using her deep knowledge and experience in the retail sector to create and implement strategic initiatives that have resulted in meaningful market share and efficiency gains. I look forward to working with her to drive Cresco Labs' next phase of growth."

"I am excited to join Cresco Labs at such a transformational time for both the organization and this industry," said Ms. Schuler. "I look forward to the opportunity to work alongside this talented group of people and to playing a meaningful role in charting the future of this company."

For the last three years, Ms. Schuler was responsible for planning and analysis of BJ's Wholesale Club's short-term and long-term financial outlook. Prior to that, she spent over 20 years in senior financial management roles for large public and private national retailers including The TJX Companies, Clarks America and Caleres. Ms. Schuler holds an MBA in integrated management and a bachelor's degree in economics from Michigan State University.

About Cresco Labs Inc.

Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG (consumer packaged goods) approach to building national brands and a customer-focused retail experience while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production and branded product distribution, the company is leveraging its scale and agility to grow its portfolio of brands (including Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's and Remedi) on a national level. The company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering continuing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED (social equity and education development) initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, work force development and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible.

We seek Safe Harbor.