Slide 1: From Hydroponics Retailer to Branded Cultivation Infrastructure Platform
From Hydroponics Retailer to Branded Cultivation Infrastructure Platform Investor Presentation | March 2026 | NASDAQ: GRWG
Slide 2: Forward looking statement
Forward looking statement Forward looking statement This presentation may include predictions, estimates or other information that might be considered forward- looking within the meaning of applicable securities laws. While these forward-looking statements represent current judgments, they are subje
Slide 3: The GrowGeneration Story
The GrowGeneration Story Since 2014, GrowGeneration (NASDAQ: GRWG) has become the largest specialty retailer and distributor of hydroponic and organic gardening products in the U.S. 2014 – 2021 2022 – 2024 2025-Present EXPLOSIVE MARKET TRANSFORMATION GROWTH SLOWDOWN & NEW ERA & RESET Peak sales $430
Slide 4: Why GrowGeneration?
Why GrowGeneration? Why GrowGeneration? High-Margin Proprietary Brands Driving Sustainable Growth – 32.8% of 2025 Revenue Mix Capital-Efficient and Highly Scalable Platform – Driving 2025 Gross Margin of 26.8% Diversified Markets Across CEA, Commercial and Consumer Robust, Debt-Free Balance Sheet, O
Slide 5: Strategic Evolution
Strategic Evolution Strategic Evolution B2B Platform & Proprietary Brand Commercial Focus Penetration (Targeting 40-50% of Revenue) Operational Efficiency via Diversified Distribution & Retail Consolidation Strategic Reach Leadership in Controlled Capital-Light Environment Agriculture International
Slide 6: Growth Flywheel
Growth Flywheel Growth Flywheel Controlled Environment Agriculture (CEA) Commercial Cultivation Fruits, Veggies, Leafy Greens, Microgreens MSO’s & Independent Growers Retail 6 proprietary brands Proprietary spanning key Transition from Consolidation/ Optimization Brand agricultural functions retail-
Slide 7: Expanded Market Opportunity
Expanded Market Opportunity GrowGeneration Now Serves All of Controlled Environment Agriculture (CEA) Global CEA Market → $250B by 2035 2 CEA Legacy Market - Cannabis Infrastructure Hydro Chain Market → → ~$2B U.S.1 ~$20B+ (U.S.) 1 Market Segments GRWG Now Addresses: Cannabis Cultivation ~$2B Greenh
Slide 8: Proprietary Brands Driving Scalable Growth
Proprietary Brands Driving Scalable Growth GrowGeneration develops commercial-grade products engineered to solve real cultivation challenges, built for performance at scale and designed to integrate seamlessly into modern facilities - proprietary brand sales accounted for 32.8% of Revenue Mix in FY
Slide 9: Expanding into Mainstream Lawn & Garden
Expanding into Mainstream Lawn Garden Expanding into Mainstream Lawn & Garden Acquired in June 2025 (mass retail/commercial growers) Distribution Deal = Thousands of IGCs NASDAQ: GRWG | Investor Presentation 9
Slide 10: Supply Chain Advantage
Supply Chain Advantage Drop-Ship · Mix Pallets · Just-In-Time Inventory · Local Coverage 4 1 PALLET WRAP DELIVERY Drop-Ship Delivered Pallets Floor-ready pallets shipped directly to your store. GrowGen Distribution Hubs Pallet Minimum Per Drop Regional coverage across the U.S. No truckload commitmen
Slide 11: Why GrowGen, Why Now: Three Catalysts Converging in 2026
Why GrowGen, Why Now: Three Catalysts Converging in 2026 01 02 03 GrowGen's Cost Structure Is Cannabis Rescheduling Catalyst CEA Market Secular Tailwind Now Right-Sized • DEA Schedule III reclassification • U.S. greenhouse produce growing • 28% OpEx reduction — $27M removes 280E tax burden ~8–10% an
Slide 12: Leadership Team
Leadership Team Leadership Team Darren Lampert, Michael Salaman, Gregory Sanders, CEO/Co-Founder President/Co-Founder CFO Decades of experience in fields of Significant leadership experience across Extensive prior public company finance and law, particularly across diverse sectors, including CEO and
Slide 13: FY 2025 Financial Highlights
FY 2025 Financial Highlights FY 2025 Financial Highlights Net Sales Proprietary Gross Margin OpEx $162M Brand Sales 26.8% $68.9M 32.8% (Up 370 bps YoY) (Down 28% YoY) (% of Revenue Mix ) Adj. EBITDA Net Loss Cash Debt -$6.0M -$24M $46.1M $0 ($8.5 Improvement ($25.5M improvement (as of 12/31/25) YoY)
Slide 14: FY 2025 Adjusted EBITDA Reconciliation
FY 2025 Adjusted EBITDA Reconciliation Reconciliation of EBITDA and Adjusted EBITDA to net income (loss) (in thousands): FY 2025 2025 Year ended December 31, 2024 2023 Adjusted Net loss $ (24,046) $ (49,510) $ (46,496) Provision for income taxes 191 158 32 Interest income (1,730) (2,703) (2,696) EBI
Slide 15: Why GrowGeneration?
Why GrowGeneration? Why GrowGeneration? High-Margin Proprietary Brands Driving Sustainable Growth – 32.8% of 2025 Revenue Mix Capital-Efficient and Highly Scalable Platform – Driving 2025 Gross Margin of 26.8% Diversified Markets Across CEA, Commercial and Consumer Robust, Debt-Free Balance Sheet, O
Slide 16: Thank You!
Positioned to Thrive Across Cannabis, Lawn & Garden, Infrastructure, and Specialty Agriculture Thank You! From Hydroponics Retailer to Branded Full- Spectrum Cultivation Infrastructure Platform Investor Relations Contact: Phil Carlson, Managing DirectorInvestor Presentation | February 2026 | NASDAQ: