Mr. John Brebeck reports

GLASS HOUSE BRANDS COMMENCES CULTIVATION IN GREENHOUSE 5 AT THE SOCAL FARM

Glass House Brands Inc. has begun cultivation in its newly retrofitted Greenhouse 5 at the SoCal Farm.

Kyle Kazan, Glass House Co-Founder, Chairman and CEO stated, "We are proud to announce that we have successfully commenced cultivation activities at Greenhouse 5 only seven months after starting to retrofit the facility for cannabis use. The new greenhouse is a sister greenhouse to the currently operating Greenhouse 6 at our SoCal Farm, and both greenhouses are Kubo Ultra-Clima models which utilize state of the art positive pressure in their design. The addition of Greenhouse 5 will increase our capacity by over 70%, and allow Glass House to provide legal, safe, and high-quality cannabis to even more consumers at the most competitive cost. We also expect Greenhouse 5 to significantly increase our cash flow generation and shareholder value creation with economics on par with Greenhouse 6. At current pricing, we expect Greenhouse 5 to add $80 million in incremental revenues on an annual basis. We're thrilled to start 2024 with the achievement of this key milestone and expect to see a significant impact on our operating results in the quarters to come."

At full capacity, Greenhouse 5 will have a flowering canopy nearly 10% larger than Greenhouse 6. It is expected to produce 250,000 pounds of cannabis biomass annually, increasing the Company's overall cultivation capacity to over 600,000 pounds per annum. With cultivation already in progress, we expect the cannabis grown in Greenhouse 5 to begin generating revenue in April. We also expect Greenhouse 5 to be fully planted by early April. This timing allows us to take full advantage of the prime growing conditions and seasonally increased production expected during the California summer.

ABOUT GLASS HOUSE

Glass House is one of the fastest-growing, vertically integrated cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. From its greenhouse cultivation operations to its manufacturing practices, from brand-building to retailing, the company's efforts are rooted in the respect for people, the environment, and the community that co-founders Kyle Kazan , Chairman and CEO, and Graham Farrar , Board Member and President, instilled at the outset. Through its portfolio of brands, which includes Glass House Farms , PLUS Products, Allswell, Forbidden Flowers, and Mama Sue Wellness, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com and https://glasshousebrands.com/press-releases/ .

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