34 slides from Verano Holdings Corp Class A's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Financials Investor Presentation
Q1 2026 FINANCIALS Investor Presentation Geographic footprint as of 4.30.2026 (CBOE CA:VRNO) (OTCQX:VRNO)
Slide 2: We Say Yes.
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Slide 3: Safe Harbor Disclaimers
Safe Harbor Disclaimers Forward -Looking Information This presentation contains “forward -looking statements” within the meaning of the safe harbor provisions of the United States Pr ivate Securities Litigation Reform Act of 1995. Such forward -looking statements are not representative of historical
Slide 4: Powerhouse Business & Brands
POWERHOUSE BUSINESS & BRANDS $208M 3,800+ Q1 2026 REVENUE EMPLOYEES 1,300+ 162 14 ACTIVE WHOLESALE OPERATING RETAIL CULTIVATION & ACCOUNTS LOCATIONS PRODUCTION FACILITIES Page 04 Footprint as of April 30, 2026.
Slide 5: Our Expansive Footprint
OUR EXPANSIVE FOOTPRINT 89 Million American adult population within active geographic footprint1 13 Active States Nevada, Arizona, Illinois, Michigan, Ohio, Pennsylvania, West Virginia, Virginia, Maryland, Subject to final New Jersey, Florida, Connecticut, Massachusetts state approvals. 1Total Adult
Slide 6: Experienced Leadership
EXPERIENCED LEADERSHIP George Archos is the founder, Chairman and Chief AARON MILES DAVID SPRECKMAN CHIEF INVESTMENT CHIEF MARKETING OFFICER Executive Officer of Verano. He entered the cannabis OFFICER industry in 2014 when he was the first in Illinois to receive authorization to grow medical cannab
Slide 7: The Verano Difference
THE VERANO Our entrepreneurial background in both business innovation and hospitality serves as DIFFERENCE the foundation for our key growth pillars. Integrated: Diversified Experienced 01 Seed -To-Sale 03 House of Brands 05 Leadership Team Balanced Sales Strong Growth 02 Approach 04 Platform Page 0
Slide 8: Strategic Seed-To-Sale Process
committ STRATEGIC SEED -TO -SALE PROCESS Cultivation, manufacturing, distribution and retail leverage leading -edge automation and extensive R&D capabilities. 01 Curate vast strain library 03 Unwavering commitment of 160+ proprietary to quality strains 1 02 Cultivate our premium 04 Produce, package,
Slide 9: Retail Operations
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Slide 10: Zen Leaf Locations
77 ZEN LEAF LOCATIONS Zen Leaf aspires to be one of the most influential cannabis retail brands, and to garner brand loyalty from a myriad of cannabis consumers as it continues expanding. Zen Leaf offers guests an extensive portfolio of award -winning products from brands including Savvy , (the) Ess
Slide 11: MÜV Locations
85MÜV LOCATIONS MÜV is a medical cannabis retailer in the Florida region currently serving patients at 85 state -of-the-art dispensaries. MÜV provides what we believe to be one of the widest selections of concentrates for patients seeking micro -dosing options, as well as an expansive suite of produ
Slide 12: Strong M&A History
STRONG M&A HISTORY A PROVEN Targeting stable M&A partners and strong EBITDA multiples ACQUIRER Page PageXX 12 1Includes assets acquired in Arizona and Virginia.
Slide 13: Wholesale
VERANO. WHOLESALE
Slide 14: National Distribution at Scale
NATIONAL DISTRIBUTION 1,300+ 10+ #4 AT SCALE RETAIL PARTNERS DISTINCT BRANDS RANK IN NATIONAL MARKET SHARE 1 From premium flower and vapes to best -selling edibles and concentrates, our products move — and move fast. Our reach, scale, and brand diversity make us a go -to partner in every major marke
Slide 15: Brand Portfolio Strategy
Top 3 Market Share Positions across all major product categories 1 BRAND PORTFOLIO STRATEGY BEST Our brand architecture is intentionally designed to serve a broad spectrum of consumers, from value -seekers to connoisseurs. BETTER This good -better -best framework allows us to flex across price tiers
Slide 16: House of Brands
HOUSE OF Well diversified product portfolio including flower, pre -rolls, topicals, discount brands, vapes, BRANDS concentrates and edibles of varying potency
Slide 17: Verano Brand
Our namesake brand, Verano offers a curated collection of coveted genetics - covering classic fan -favorites, the latest trends, and proprietary strains that are cross -bred and pheno -hunted in-house. The vast genetic offering expands into several marquee product lines including premium whole bud f
Slide 18: (the) Essence
Embrace the possibilities of every moment through (the) Essence. Whether you’re looking to unwind after a long day; to soothe or sleep; to get active or creative; all are best done with a present mind. Our genetics are carefully selected, bred and pheno -hunted to deliver a spectrum of experiences,
Slide 19: Savvy
Savvy is the street -smart bud for the sharpest in the game. A heavy -hitting selection of good flower, vapes, and edibles, served in a range of large formats that won’t break the bank. Page 19
Slide 20: HYPHEN
One sleek oil system that empowers choice through simplicity. With adaptive hardware, intuitive software, and collaborative design, HYPHEN makes vaping seamless and personal. Page 20
Slide 21: Swift Lifts
Swift Lifts are made for real life, the quick step out, the deep breath between meetings, the quiet wind - down at the end of the day. Perfectly portioned pre - rolls for all of life’s layovers. Page 21
Slide 22: Bits
Bits are the everyday edible that encourages doing - without overdoing it. Bits offers six delicious flavors formulated with cannabinoids and a dash of adaptogens to add just a little bit more to life's activities. Page 22
Slide 23: Encore Edibles
Like a song that takes you back, Encore Edibles are all timeless hits. Finding comfort in the familiar, these terpene -enriched treats come in classic flavor profiles, reminiscent of your old -school favorites. Page 23
Slide 24: On The Rocks
On The Rocks is a cannabis collection defined by solventless extraction methods that date back thousands of years. Dry sift and ice water capture the essence of flower by collecting its cannabinoid - and terpene -rich trichomes. These trichomes are then refined in small batches and hand -crafted to
Slide 25: Avexia
Avexia , meaning "wellness" in Greek, offers products made to effortlessly enhance any self-care routine. Carefully formulated with cannabinoids and other natural ingredients, Avexia harnesses the power of the elements to deliver the ultimate dose of relief in a range of topicals, tablets, tinctures
Slide 26: Q1 2026 Financial Review
VERANO Q12026 FINANCIAL REVIEW
Slide 27: Q1 2026 Financial Results
Q1 2026 Gross Profit $98,976 FINANCIAL RESULTS 1 Focus on generating further Income from Operations $13,099 efficiencies and cost -saving measures. Revenue Net Loss $(17,823) $208,178 1Amounts reported in thousands. 2 Adjusted EBITDA and Adjusted EBITDA Margin are non Adjusted EBITDA 2 1 $49,004 Adj
Slide 28: Balance Sheet
BALANCE SHEET 1 Cash $74,026 Total Debt $394,946 Total Assets $1,708,348 Total Liabilities $1,021,778 Page 28 1As of 3/31/26
Slide 29: Share Repurchase Authorization
SHARE REPURCHASE AUTHORIZATION STRATEGIC RATIONALE PROGRAM DETAILS CONSECUTIVE REVENUE AUTHORIZATION SIZE $20M 12 MONTHS GROWTH Up to 5 % of the issued and outstanding REPURCHASE PROGRAM DURATION, shares at time of authorization, subject AUTHORIZATION ENDING APRIL 30, 2027 ANTICIPATED CASH FLOW to a
Slide 30: Thank You
Email Investors@Verano.com THANK YOU Website Investors.Verano.com
Slide 31: Financial Appendix
FINANCIAL APPENDIX
Slide 32: Highlights from Consolidated Statements of Operations
VERANO HOLDINGS CORP. Highlights from Consolidated Statements of Operations (Sin thousands) Revenues, net of Discounts Cost of Goods Sold, net Gross Profit Gross Profit % Operating Expenses: Selling, General and Administrative Expenses Loss on Impairment of Intangibles - Goodwill Loss on Impairment
Slide 33: Highlights from Consolidated Balance Sheets
(8 in thousands) Cash and Cash Equivalents Other Current Assets Property, Plant and Equipment, net Intangible Assets, net Goodwill Other Long-Term Assets Total Assets Total Current Liabilities Total Long-Term Liabilities Shareholders' Equity Non-Controlling Interest Total Liabilities and Shareholder
Slide 34: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
VERANO HOLDINGS CORP. Reconciliation of Net Loss to EBITDA (Non-U.S. GAAP) and Adjusted EBITDA (Non-U.S. GAAP, Unaudited) For the Three Months Ended, March 31, 2026 December 31, 2025 March 31, 2025 (S in thousands) (Unaudited) (Unaudited) (Unaudited) Net Loss Attributable to Verano Holdings Corp. &