Verano Holdings Corp Class A · NEO:VRNO
Verano Holdings Corp Class A — Q2 2025 Earnings Presentation
31 slides from Verano Holdings Corp Class A's earnings presentation, Aug 7, 2025
Slide 1: Q2 2025 Financials
Q2 2025 FINANCIALS Geographic footprint as of 8.06.25 | (CBOE CA:VRNO) (OTCQX:VRNOF)
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Slide 3: Safe Harbor
Safe Harbor Disclaimers Forward-Looking Information This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not representative of historical fac
Slide 4: Powerhouse Business & Brands
POWERHOUSE BUSINESS & BRANDS $202M_ 3,800+ Q2 2025 REVENUE EMPLOYEES 1,400+~ 157 15 ACTIVE WHOLESALE OPERATING RETAIL CULTIVATION & ACCOUNTS LOCATIONS PRODUCTION FACILITIES VERANO. Savyy Noe BITS NUCRE Viral on 347 weet Gg, ROLKS, Swee “hee ezenLear CabbageCluh (U\/ VERANO. Page 04.
Slide 5: Our Expansive Footprint
OUR EXPANSIVE FOOTPRINT 89 Million American adult population within geographic footprint! 13 States Nevada, Arizona, Illinois, Michigan, Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, Florida, Connecticut, Massachusetts VERANO. /.0stse eons Page 05
Slide 6: Experienced Leadership
EXPERIENCED LEADERSHIP GEORGE ARCHOS CHAIRMAN CHIEF EXECUTIVE OFFICER George Archos is the founder, Chairman and Chief Executive Officer of Verano. He entered the cannabis industry in 2014 when he was the first in Illinois to receive authorization to grow medical cannabis out of 21 recipients of the
Slide 7: The Verano Difference
TH E VE RAN Our entrepreneurial bac’ business inno’ DIFFERENCE “"% 01 Integrated: 03 Diversified O Experienced Seed-To-Sale House of Brands Leadership Team 02 Balanced Sales 04. Strong Growth sana 1 Approach Platform VE HYBRI VERANO. Page 07
Slide 8: Strategic Seed-to-Sale Process
a —- NES Ay Dire: , STRATEGIC SEED-TO-SALEPROCESS Cultivation, manufacturing, distribution _ of te and retail leverage leading-edge é a automation and extensive R&D capabilities. Aan 01 Curate vast strain library 03 Goaboveand beyortl of 160+ proprietary quality standards strains 02 Cultivate our pr
Slide 9: Operations
i L PrP OPERATIONS
Slide 10: Zen Leaf Locations
@9ZENLEAF ZEN LEAF » LOCATIONS ilbrands, an it continue: our economic success and cultural influence in an increasingly crowded marketplace. Zen Leaf offers guests an extensive portfolio of award-winning products from brands including Verano, (the) Essence, Savvy, Encore, Avexia, Bits, On the Rocks,
Slide 11: MUV Locations
MOV . LOCATIONS "iS a medical cannabis retailer inthe Florida region currently serving: > nts at 81 state-of-the-art dispensaries. MUV provides what is believed to be* one of the Widest Selections of concentrates for patients seeking micro-dosing options, as well as an expansive suite of products sp
Slide 12: Proven Acquirer
STRONGMSA_ | HISTORY APROVEN Targeting stable M&A partners ACQUIRER and strong EBITDA multiples VERANO. Page 12 ‘Includes assets acquired in Arizona and Virginia.
Slide 13: Wholesale
VERANO. WHOLESALE
Slide 14: National Distribution at Scale
NATIONAL DISTRIBUTION 1400+ 10+ AT SCALE RETAIL PARTNERS = From premium flower and vapes to 5 best-selling edibles and concentrates, our products move— Sayyy and move fast. Our reach, scale, and brand diversity make us a go-to ot partner in every major market we operate. ‘as of August 6, 2025. DISTI
Slide 15: Brand Market Share Positions across all major product categories
Brand Market Share Positions across all major product categories! VERANO. bory Anion T: Our brand architecture is intentionally ; BITS designed to serve a broad spectrum of Avexia consumers, from value-seekers to connoisseurs. acres ENGORE Hi- Klas Oo lu = = lu a This good-better-best framework allo
Slide 16: Well diversified product portfolio
id Well diversified product portfolio including flower, pre-rolls, topicals, discount brands, vapes, concentrates and edibles of varying potency
Slide 17: fan-favorites, the latest trends, and p
C! fan-favorites, the latest trends, and p strains that are cross-bred and phe house. V E R A N @) The vast genetic offering expands into several ™ marquee product lines including premium whole fl r, pre- liv n nceni by Page 18 VERANO.
Slide 18: sibilities of every momentthrough
sibilities of every momentthrough Whether you’re looking to unwind a Ee ter a long day; to soothe or sleep; to get active o} as reative; < ne with a present mind. Our genetics are carefully selected, bred and pheno-hunted to delivera spectrum of experiences, each intended to enrich the everyday. VER
Slide 19: vapes, Zand edibles, served inarange le
vapes, Zand edibles, served inarange le formats that won't break the bank. VERANO. Page 20 envy Siete
Slide 20: nee
nee ~ , ; “Wd ‘ . Page 21 VERANO. .
Slide 21: Encore Edibles
a ENGORE 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. VERANO. Page 22
Slide 22: Live Rosin Badder
‘Ss | LiVE Rosin BanveR ‘sis: a i i by solventless methods that date back thousands of years. Dry sift and apture the essence wer by collecting its —— cannabinoid- and terpene-rich trichomes. These trichomes are then: — refined in small batches and ha edtoextractthe purest expression of the plant. N
Slide 23: Avexia wellness products
products made to effortlessly enhance any = ee Ger f aireanioa vwellness?| in Salle offers er self-careroutine. Carefully formulated with cannabinoids and other natural ingredients, Avexia harnesses the power of the elet deliver the ultimate dose of relief in ar r VERANO. topicals, tablets, tincture
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Slide 25: Q2 2025 Financial Results
Q2 2025 FINANCIAL RESULTS! Focus on generating further efficiencies and cost-saving measures. Revenue ses $112,984 Income from °% aT1 Operations y Net Loss? $(1 91 50) F Adjusted Mss $66.153 {HE 33% Page 26
Slide 26: $1,941,707 ff i... $1,016,252
» $68,569 [© $403,265 $1,941,707 ff i... $1,016,252 VERANO.
Slide 27: Verano
VERANO. Email Investors@Verano.com Website InvestorsVerano.com
Slide 28: Financial Appendix
FINANCIAL APPENDIX
Slide 29: 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, (S in thousands) ‘June 30, 2025 “March 31, 2025 Tune 30, 2024 Net Loss Attributable to Verano Holdings Corp. & Subsidiaries s (19,150) $ (L515) (21,76
Slide 30: Highlights from Condensed Consolidated Balance Sheets
VERANO HOLDINGS CORP. Highlights from Condensed 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 Sha
Slide 31: Highlights from Interim Condensed Consolidated Statements of Operations
VERANO HOLDINGS CORP. Highlights from Unaudited Interim Condensed Consolidated Statements of Operations (S in 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 —