Mr. Eric Offenberger reports

VEXT ANNOUNCES REOPENING OF JACKSON, OHIO DISPENSARY AND RESTRUCTURING OF OHIO SELLER NOTES AHEAD OF DECEMBER 2026 MATURITY

Vext Science Inc. has two updates regarding its Ohio operations: (i) that the company reopened its Herbal Wellness Center dispensary in Jackson, Ohio, today following authorization from the Ohio Division of Cannabis Control (DCC); and (ii) that the company, through its wholly owned subsidiary, Vapen Ohio LLC, and certain holders of the promissory notes issued in connection with the company's 2023 acquisitions of Appalachian Pharm Products LLC and APP1803 LLC (APP) in Ohio, have agreed to a restructuring of the APP notes, which would, among other things, extend the maturity date of the APP notes to Jan. 15, 2029.

Jackson dispensary reopening

The company has reopened the Jackson dispensary and resumed service to patients and customers as of Sept. 17, 2026. The company appreciates the patience and support of its customers and the Jackson community throughout this process. The health and safety of its customers remain the company's highest priority, and the company looks forward to welcoming everyone back, and continuing to provide safe, compliant and reliable access to cannabis products.

Ohio seller note restructuring

The APP notes, issued in an original aggregate principal amount of approximately $6.0-million (U.S.), were scheduled to mature on Dec. 31, 2026, with a balloon payment of approximately $5.6-million (U.S.).

Pursuant to the Ohio note restructuring:

• An aggregate of approximately $2.4-million (U.S.) will be paid in cash on the first business day of January, 2027, retiring four noteholders in full and making scheduled payments and principal prepayments to the remaining holders.
• The APP notes held by the continuing noteholders, representing approximately $3.2-million (U.S.) of remaining principal, will be cancelled and replaced with new promissory notes issued by Vapen Ohio.
• The replacement APP notes will bear interest at 8.0 per cent per annum until Dec. 31, 2026, and 10.0 per cent per annum from and after Jan. 1, 2027, and will be fully amortized through equal monthly payments of principal and interest of approximately $147,000 (U.S.) beginning Feb. 15, 2027, with a final payment on Jan. 15, 2029.
• All other material terms of the replacement APP notes remain unchanged from the existing APP notes.

Subject to completion of certain conditions, including the company completing its next scheduled quarterly payment on the APP notes, the Ohio note restructuring is expected to become effective on Oct. 1, 2026.

"This agreement reflects the constructive, long-term relationship we have built with our Ohio partners," said Eric Offenberger, chief executive officer of Vext. "Rather than refinancing with third party debt, we worked directly with our noteholders to cut the year-end obligation by more than half and convert the balance into a short, fully amortizing schedule we can retire early as cash flow allows. Every holder is being repaid in full, our balance sheet carries no seller note maturity beyond January, 2029, and our liquidity remains directed toward operating the business."

About Vext Science Inc.

Vext Science is a specialty retailer operating in the regulated cannabis markets of Ohio and Arizona. The company owns its dispensaries and the majority of its real estate, supplying its shelves from its own cultivation and manufacturing where integration improves retail economics, and through third party sourcing where it does not. Vext generates among the highest free cash flow margins in the U.S. retail cannabis industry (1) and applies a disciplined capital allocation framework, directing capital to its highest-returning uses while building long-term shareholder value.

Vext Science is listed on the Canadian Securities Exchange under the symbol VEXT and trades on the OTCQX market under the symbol VEXTF.

(1) Source: public company filings, FY (fiscal year) 2025. Free cash flow is a non-IFRS (international financial reporting standards) financial measure defined as cash from operations less capital expenditures. Free cash flow margin is a non-IFRS ratio defined as free cash flow divided by sales.

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