Slide 1: Disciplined Capital Allocation, Positioned for Strategic Growth
DISCIPLINED CAPITAL ALLOCATION, POSITIONED FOR STRATEGIC GROWTH CSE: CL OTC: CRLBF FOURTH QUARTER 2025 MARCH 5, 2026
Slide 2: Disclaimer
DISCLAIMER Forward-Looking Information and Statements This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. S
Slide 3: Cresco Labs At-A-Glance
CRESCO LABS AT-A-GLANCE Leading Wholesaler of Branded Cannabis Products and Highly Productive Dispensaries WHOLESALE RETAIL Leading Portfolio of Brands 73 Operating Stores2 #1 Market Share in Multiple Billion Dollar Markets1 Retail Network Outperforms Fair Share3 Investing in Exclusive Genetics, Pro
Slide 4: 2025 Growth Priorities
2025 GROWTH PRIORITIES Creating the Strongest and Most Valuable Cresco Labs STRATEGIC HIGHLY EXPANSION FOOTPRINT GROWTH PRODUCTIVE RETAIL BEYOND THE CORE Maximize core Expand Expand into & new market retail network new growth opportunities & efficiency platforms 4
Slide 5: Key Metrics, Q4 2025
KEY METRICS, Q4 2025 Q4 2025 RESULTS ($ in millions) Flexibility and financial strength needed to navigate market volatility as we prepare to invest thoughtfully for long-term growth Total Revenue $161.6 Q3 to Q4 % Growth / (Decline) (2.0%) Topline Revenue of $162 Million, Adj. Gross Profit $84.4 st
Slide 6: Prioritizing Cash Generation
PRIORITIZING CASH ANNUAL OPERATING GENERATION CASH FLOW Improving Efficiency and Cashflow, Redeploying Capital with Better Paybacks and Higher Returns 57% 3-Yr CAGR $73M Generated ~$73 million in operating cash flow in 2025 paid down ~$35 million in debt and ended the year with ~$94 million in cash
Slide 7: Wholesaler & Distributor of America's Leading Cannabis Brands
WHOLESALER & DISTRIBUTOR OF AMERICA’S LEADING CANNABIS BRANDS 13 Production Sites 1 million total cultivation facility square footage #1 Market Share in multiple $1 billion+ markets
Slide 8: Proven Depth in Wholesale
PROVEN DEPTH IN WHOLESALE Winning with Quality Products and Innovative Infusion FLOWER VAPES CONCENTRATES EDIBLES MEDICINALS BEST BETTER GOOD
Slide 9: Highly Productive Retailer
HIGHLY PRODUCTIVE RETAILER 73 Operating Retail Locations As of December 31, 2025 Outperforming Fair Share 30% more productive than the average store across our footprint Source: Hoodie Analytics as of December 31st 2025 9
Slide 10: Sunnyside.shop
SUNNYSIDE.SHOP An E-Commerce Platform Unlike Any Other – Unparalleled Proprietary Capabilities, Insights and Experience CUSTOMER SERVICE 4.9 Average Google review across Sunnyside* CUSTOMER RETENTION 63% of Q3 2025 Customers Returned in Q4 2025 As of December 31st 2025, based on internal and state d
Slide 11: State-by-State Asset Summary
STATE-BY-STATE ASSET SUMMARY Strong Positions in Markets That Matter – Driving Share Leadership Today and Capturing Growth of Tomorrow As of December 31, 2025 FL IL KY MA MI NY OH PA TOTAL Population #M 23.8 12.8 4.6 7.2 10.1 19.9 11.9 13.1 103.4 5 | AU+M Legal Status AU / M M Both M Both Both Both1
Slide 12: Financial Results
FINANCIAL RESULTS
Slide 13: Financial Highlights: Capitalization Summary
FINANCIAL HIGHLIGHTS Capitalization Summary SHARES OUTSTANDING NET DEBT Share Class (# in millions) as of 12/31/2025 Balance ($ in Millions) as of 12/31/2025 Super Voting Shares 0.5 Debt Outstanding (ST) $10.8 Redeemable Units 85.3 Debt Outstanding (LT) 417.1 Subordinated Voting Shares 343.2 Long-te
Slide 14: Financial Highlights: Reconciliation of Non-GAAP Measures
FINANCIAL HIGHLIGHTS Reconciliation of Non-GAAP Measures ADJUSTED GROSS PROFIT ADJUSTED EBITDA For the Three Months Ending December 31 ($ in Millions) Q4 2025 Q4 2024 For the Three Months Ending December 31 ($ in Millions) Q4 2025 Q4 2024 Net income (loss) ($88.9) $0.4 Revenue, net $161.6 $175.9 Dep
Slide 15: Financial Highlights: Reconciliation of Non-GAAP Measures
FINANCIAL HIGHLIGHTS Reconciliation of Non-GAAP Measures ADJUSTED SG&A FREE CASH FLOW For the Three Months Ending December 31 ($ in Millions) Q4 2025 Q4 2024 For the Three Months Ending December 31 ($ in Millions) Q4 2025 Q4 2024 Selling, general and administrative $57.0 $56.0 Net cash provided by (
Slide 16: Thank You
THANK YOU INVESTORS investors@crescolabs.com MEDIA press@crescolabs.com GENERAL INQUIRIES 312-929-0993 info@crescolabs.com