Mr. Jon Levine reports

MARIMED STOCKHOLDERS APPROVE PROPOSED REVERSE STOCK SPLIT

Marimed Inc.'s stockholders approved a proposed reverse stock split of the company's common stock at a special meeting of stockholders held Oct. 28, 2026.

"I want to thank our shareholders for their overwhelming support in approving the reverse stock split proposal and authorizing our board to determine whether and when to implement it," said Jon Levine, chief executive officer of Marimed.

There can be no assurance that the board will determine to implement the reverse stock split, that Marimed will be eligible for listing on a U.S. national securities exchange, that the reverse stock split will enable the company to satisfy all applicable listing requirements, or that the reverse stock split will result in a sustained increase in the trading price or liquidity of the company's common stock.

Reverse stock split details

The company's stockholders approved the following:

• The board is authorized to determine whether and when to implement the reverse stock split at a ratio of between one for 50 and one for 100, in its discretion. The board would determine the final ratio based on market conditions and other relevant considerations, including, potentially, the requirements associated with a potential listing of the company's common stock on a U.S. national securities exchange.
• The board retains the discretion not to implement the reverse stock split if it determines that doing so would not be in the best interests of the company and its stockholders.
• No fractional shares would be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share as a result of the reverse stock split will instead receive a cash payment in lieu thereof.

If the reverse stock split is implemented:

• The number of shares of Marimed common stock outstanding would be reduced by the applicable split ratio. The reverse stock split would not, by itself, change a stockholder's proportional ownership or voting power in the company, except for any adjustments resulting from the treatment of fractional shares.

About Marimed Inc.

Marimed is a leading multistate cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. The company's award-winning portfolio of cannabis brands, including Betty's Eddies, Bubby's Baked, Vibations, InHouse and Nature's Heritage, sets the company apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, Marimed continues to drive growth and set new standards in the cannabis industry.

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