Jushi Holdings Inc Class B · CSE:JUSH
Jushi Holdings Inc Class B — Investor Presentation (February 2023)
25 slides from Jushi Holdings Inc Class B's investor presentation, Feb 13, 2023
Slide 1: The Next Generation Cannabis Platform
The Next Generation Cannabis Platform
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward - Looking Statements This presentation contains certain "forward - looking information" within the meaning of applicable Canadian securities legislation as well as statements that may constitute "forward - looking statements" within the meaning of within the me
Slide 3: Jushi's Portfolio of Assets – January 2023
7 Operating Markets 5 Operating Vertical Markets ~1,443 Jushi Employees* Total PA VA MA NV OH IL CA 37 (of 40) 18* 5 (of 6)* 2* 4* 1* 4 (of 5)* 3 (of 4)* C U LT I VAT I O N & P RO C E S S I N G FAC I L I T I E S Total PA VA MA NV OH IL CA 5 Yes Yes Yes Yes Yes - - 330k sq. ft. 123k sq. ft. 93k sq. f
Slide 4: Pennsylvania Highlights
10 Flower Rooms ~123k Sq. Ft. Facility ~35k Sq. Ft. Canopy Vertically Integrated with 18 Medical Dispensaries (out of 171 (1) ; ~11% of market) 18 Dispensaries ~32k* Lbs. Biomass / yr. ~19k* Lbs. Flower / yr. ~13M PA Population (2) 842k Patients & Caregivers (3) (6.5% of Pop) 423k Active Patients (4
Slide 5: Virginia Highlights
7* Flower Rooms ~93k Sq. Ft. Facility ~18k* Sq. Ft. Canopy 5 (of 6) Dispensaries ~16k* lbs. Biomass/yr. ~11k* Lbs. Flower/yr. (5) ~8.7M VA State Population ~2.5M HSA II Population (6) Virginia Highlights P R I M A RY M A R K E T D R I V E R S ~4.2k Active Patients January 2022 (7) (0.2% of Pop) ~12.
Slide 6: Market Penetration: Pennsylvania & Virginia Medical Markets Growth
Market Penetration P E N N S Y LVA N I A & V I R G I N I A M E D I C A L M A R K E T S G RO W T H 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Jushi's VA Active Patient Count (10) Patients % of HSAII Population 188% YoY 0.00% 1.00% 2.00% 3.00% 4.00% 5.00%
Slide 7: MA & NV Highlights
2 Dispensaries MA & NV Highlights S E C O N DA RY M A R K E T D R I V E R S ~50k Sq. Ft. Facility ~28k* Sq. Ft. Canopy 9 Flower Rooms ~27k* Lbs. Biomass / yr. ~19k* Lbs. Flower / yr. N E VA DA M A S S AC H U S E T T S Vertically Integrated with 2 dispensaries Vertically Integrated with 4 dispensarie
Slide 8: OH, IL & CA Highlights
OH, IL & CA Highlights D E V E L O P I N G M A R K E T D R I V E R S I L L I N O I S 4 (of 5) Dispensaries One awarded conditional dispensary license in Greater Peoria Region to Northern Cardinal Ventures, LLC C A L I F O R N I A 1 Dispensaries O H I O ~17k Sq. Ft. Facility ~1k Sq. Ft. Canopy (11) 1
Slide 9: The Jushi Retail Experience
Jushi provides patients and customers with a frictionless retail experience. Digital Place your order online for express pickup, curbside or delivery and download our app for exclusive savings. Retail Design Our carefully designed and inviting cannabis experience welcomes all levels of consumers. Pr
Slide 10: Next-Level Store Design
Next - Level Store Design L E A D I N G O M N I C H A N N E L E X P E R I E N C E 10 • Built for Medical or Adult - use • Multiple Points of Sale • UX In - Store Design • Beyond TV • Sleek Mid - Century Design • Ample Parking • G • reat Signage • Express Pickups Where Permitted
Slide 11: Jushi's E-Commerce Platform – Our Largest Store
Industry leading digital platform facilitating online ordering, dispensary discovery and customer engagement. ~64% Order Online (Q3 22) ~19% Menu Conversion Rate (Q3 22) ~$102 Avg. Cart Size (Q3 22) Jushi’s E - Commerce Platform – Our Largest Store L E A D I N G O M N I C H A N N E L E X P E R I E N
Slide 12: Hello Club - Rewards App
The Hello Club app provides our valued customers with a rewards program, in - app shopping and weekly app - exclusive deals . It’s our most valuable retention tool . ~49k Downloads (As of 1/30/23) Hello Club - Rewards App J U S H I ’ S L E A D I N G O M N I C H A N N E L E X P E R I E N C E Scan to
Slide 13: Comprehensive Suite of Brands Across Portfolio
F L O W E R E D I B L E S & T O P I C A L VA P E & C O N C E N T R AT E P A C K A G E D F L O W E R & P R E - R O L L S P A C K A G E D F L O W E R & P R E - R O L L S S O L V E N T L E S S , L I V E R E S I N & C U R E D C A R T R I D G E S , D I S P O S A B L E S & C O N C E N T R A T E S I N F U
Slide 14: Transforming Focus from High Growth to Profitability
Transforming Focus from High Growth to Profitability Corporate • Workforce reduced by 22% from 172 at the high to 135* • Departmental budgets cut across the board 10 – 20%+ focusing on driving cost - savings and efficiencies COS T S AV I N G S & E F F I C I E N C Y OP T I M I Z AT I O N 1,518 Headco
Slide 15: Transforming Focus from High Growth to Profitability
Transforming Focus from High Growth to Profitability COS T S AV I N G S & E F F I C I E N C Y OP T I M I Z AT I O N Retail • From Jan ‘22 to Dec ‘22, monthly store - level labor cost went up ~5% while store - count went up 30% (from 27 to 35 open stores) • Average retail employee count per dispensar
Slide 16: Primary Markets Regulatory Updates
Primary Markets Regulatory Updates Pennsylvania legislature expected to re - convene in late February • New Governor (Shapiro) is hands - on and looking to drive policy • On record as supporting an adult - use market • Former Attorney General and is actively appointing both Republicans and Democrats
Slide 17: Appendix
Appendix
Slide 18: Jushi Leadership Team
Jushi Leadership Team Jim Cacioppo CEO, Chairman & Founder Jon Barack President & Founder Michelle Mosier Chief Financial Officer Tobi Lebowitz Chief Legal Officer & Corporate Secretary Nichole Upshaw Chief People Officer 18
Slide 19: Capitalization Summary
Capitalization Summary (1) As of September 30, 2022, includes cash, cash equivalents and short - term investments; (2) As of September 30, 2022, excluding leases and property, plant and equipment financing obligations; (3) Average Strike Price: $2.58; (4) Average Strike Price: $1.40 (Amounts in mill
Slide 20: (1) Net (loss) income includes amounts attributable to non - controlling interests . (2)
(1) Net (loss) income includes amounts attributable to non - controlling interests . (2) Includes amounts that are included in cost of goods sold and in operating expenses . (3) Includes : (i) inventory step - up on business combinations ; (ii) inventory recall reserves ; and (iii) reserves for disc
Slide 21: Reconciliation of Gross Profit to Adjusted Gross Profit
JUSHI HOLDINGS INC. UNAUDITED RECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT (in thousands of U.S. dollars) Adjusted Gross Profit Reconciliation 21 Three Months Ended March 31, 2022 Three Months Ended June 30, 2022 Three Months Ended September 30, 2022 Revenue, Net $ 61,888 $ 72,757 $ 72,81
Slide 22: Reconciliation of Non-GAAP Financial Measures
JUSHI HOLDINGS INC. Reconciliation of Non - GAAP Financial Measures Adjusted net loss, EBITDA, Adjusted EBITDA and Adjusted Gross Profit In addition to providing financial measurements based on GAAP, the Company provides additional financial metrics that are not prepared in accordance with GAAP . Ma
Slide 23: No Offers
NO OFFERS This presentation does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities of the Company in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
Slide 24: Endnotes
Endnotes 2 4 • • • • • (1) (Number of Pennsylvania dispensaries) https://www.health.pa.gov/topics/Documents/Programs/Medical%20Marijuana/Medical%20Marijuana%20Dispensaries%20in%20Pennsylvani a%2 0with%20Product.pdf ; Cresco Labs (2) (Population) https: //www . censu s .gov/quickfacts/PA (3) (4) (Pen
Slide 25: Thank You
Thank Y ou Contact investors@jushico.com
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