Mr. John Mazarakis reports

VIREO GROWTH INC. ANNOUNCES SHARE BUYBACK PROGRAM

Vireo Growth Inc. has received authorization from the company's board of directors to commence a share buyback program. Pursuant to a normal course issuer bid (NCIB), commencing on Aug. 17, 2026, the company may repurchase up to 2,426,872 subordinate voting shares of the company in the open market. As of Aug. 13, 2026, the company had 48,517,509 subordinate voting shares and 7,718 multiple voting shares issued and outstanding, with the multiple voting shares convertible into an additional 771,800 subordinate voting shares.

"Over the past several months, we have made significant progress executing on our growth strategy," said Vireo's chief executive officer, John Mazarakis. "As we work to close these transformative transactions and integrate our expanded operations, we believe initiating this normal course issuer bid represents a prudent and disciplined use of capital. We believe that our current market valuation does not fully reflect the strength of our business, the progress we have made or the long-term value we are building. This share buyback program reflects our confidence in that opportunity and provides us with another tool to drive long-term returns for our shareholders."

Subordinate voting shares may be purchased through the facilities of the Canadian Securities Exchange (CSE), subject to applicable legal, regulatory and contractual requirements. All purchases made will be through the selected purchasing member, Haywood Securities Inc.

In connection with the buyback program, the company has entered into an automatic repurchase plan (the APP) with Haywood that permits purchases of subordinate voting shares during periods when the company might otherwise be restricted from trading. Under the APP, Haywood has discretion to purchase subordinate voting shares on behalf of the company at prices up to, but not exceeding, $18.75 (U.S.) per subordinate voting share, subject to the APP's pre-established trading parameters and applicable securities laws. The APP was established at a time when the company was not in possession of any material non-public information and may be amended, suspended or terminated in accordance with its terms.

The total number of subordinate voting shares purchased, timing of purchases, and share price are dependent upon market conditions and business considerations, any applicable securities law requirements, CSE rules and any determination of best use of cash available at the time. Any subordinate voting shares purchased will be cancelled. The buyback program will expire on Aug. 17, 2027, and may be suspended, terminated or amended in accordance with applicable law, CSE requirements, and the terms of the APP and the company's agreement with Haywood. While the company intends to proceed with the buyback program, it is under no obligation to purchase any subordinate voting shares for the duration of the buyback program.

About Vireo Growth Inc.

Vireo Growth is a leading vertically integrated cannabis company building a broad platform across cannabis and adjacent agricultural markets. The company operates cultivation, manufacturing, retail dispensaries, home delivery, distribution and agricultural supply businesses across the United States, creating exposure to both cannabis and complementary adjacent markets. With current operations in 10 states and more than 170 dispensaries nationwide, Vireo combines disciplined capital allocation, strategic acquisitions, and local market execution to scale its platform and drive long-term shareholder value. The company is focused on expanding market share and strengthening its portfolio of consumer brands and services, while supporting the customers, employees, shareholders and communities it serves.

We seek Safe Harbor.