Mr. Keith Stauffer reports

TERRASCEND SIGNS AGREEMENT TO ACQUIRE FOURTH DISPENSARY IN NEW JERSEY

Terrascend Corp. has signed an agreement where its consolidated entities will operate its fourth dispensary in New Jersey. Union Chill Cannabis Company LLC, a high performing, single dispensary operator in Hunterdon county, is expected to be immediately accretive to Terrascend on an earnings before interest, taxes, depreciation and amortization and cash flow basis, and further solidifies the company's leadership position in the state. The closing remains subject to regulatory approval.

"Union Chill is a strong performer, generating more than $11-million in annualized revenue from its location in Hunterdon county," said Jason Wild, executive chairman of Terrascend. "We see a clear opportunity to enhance sales and margins by introducing our portfolio of premium brands, including Kind Tree, Legend, Valhalla, Cookies and Wana. We are actively evaluating additional expansion opportunities in New Jersey and expect to sign multiple additional transactions by the end of 2025. We are also on track with the expansion of cultivation and manufacturing capacity at our Boonton facility, ensuring we can meet the increased demand from both the expansion in our retail footprint as well as our growing wholesale business."

Established in 2023, Union Chill is well situated with limited competition within a 10-mile radius. Upon closing of the transaction, Union Chill will increase Terrascend's retail footprint to 39 dispensaries across five U.S. states and Canada.

About Terrascend Corp.

Terrascend is a leading Toronto Stock Exchange-listed cannabis company with interests across the North American cannabis sector, including vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California through Terrascend Growth Corp. and retail operations in Canada through Terrascend Canada Inc. Terrascend operates The Apothecarium, Gage and other dispensary retail locations, as well as scaled cultivation, processing and manufacturing facilities in its core markets. Terrascend's cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The company owns or licenses several synergistic businesses and brands including Gage Cannabis, The Apothecarium, Cookies, Lemonnade, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana and Valhalla Confections.

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