Slide 1: Q4 & Full Year 2021 Investor Presentation
Q4 & FULL YEAR 2021 INVESTOR PRESENTATION NEO:CCHW | CSE:CCHW | OTCQX:CCHWF | FSE:3LP March 2022
Slide 2: Disclaimer and Forward-Looking Statements
DISCLAIMER AND FORWARD-LOOKING STATEMENTS Disclaimer Columbia Care Inc. (the “Company” or “Columbia Care”) derives a substantial portion of its revenues from the cannabis industry in certain U.S. states, which industry is illegal under U.S. Federal Law. Columbia Care is directly involved in both the
Slide 3: Disclaimer and Forward-Looking Statements
DISCLAIMER AND FORWARD-LOOKING STATEMENTS Caution Concerning Forward-Looking Statements This presentation contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning Columbia Care’s obj
Slide 4: Company Overview
COMPANY OVERVIEW Building Scale, Improving Efficiency and Growing Profitability 99 32 18 $36B+ US Retail Locations(1) US Cultivation & Jurisdictions in 2026 TAM in Licensed Manufacturing Facilities(1) US & Europe US States(2) 139% $473M +2M 150+ YoY Topline Combined FY 2021 Combined Sqft Cultivation
Slide 5: Vertical Integration on National Scale
VERTICAL INTEGRATION ON NATIONAL SCALE PENNSYLVANIA NEW YORK MASSACHUSETTS 1 3 2 8 1 3 Vertically Integrated UTAH COLORADO OHIO from Coast to Coast 1 1 5 26 1 5 NEW JERSEY 2 3 Wholesale Distribution DELAWARE in 14 Markets* 1 3 MARYLAND 32 Cultivation and MISSOURI ILLINOIS WEST VIRGINIA 1 4 Manufactu
Slide 6: One of the Nation's Largest & Most Experienced MSOs
ONE OF THE NATION’S LARGEST & MOST EXPERIENCED MSOs Addressable market is >53% of the U.S. population(1) with significant upside potential Columbia Care U.S. Footprint Columbia Care Addressable Market(2) Pursuit Activity Adult Use Anticipated Medical Only State Population (M) Est 2022 Sales (US$M) E
Slide 7: 2021 Business Highlights
2021 BUSINESS HIGHLIGHTS Integrated acquisitions and reinvested in our portfolio to position ourselves for better 15 markets generated positive adjusted EBITDA 1 and 12 markets generated positive cash flow from operations, out of 17 active markets Combined Revenue grew 139% year-over-year 2 driven b
Slide 8: Record Revenue in Q4 2021
RECORD REVENUE IN Q4 2021 From Q4 2019 to Q4 2021, Columbia Care has averaged ~25% sequential growth $160.0 +5% $140.0 +21% +19% $120.0 +13% $100.0 Q4 2021 Adj. +51% EBITDA $80.0 of $27.1M +64% $132.3 $139.3 $60.0 Q4 2021 Adj. +14% $109.7 +18% EBITDA Margin $92.5 $40.0 $81.7 of 20% $54.0 $20.0 $33.0
Slide 9: Fourth Quarter 2021 Financial Highlights
FOURTH QUARTER 2021 FINANCIAL HIGHLIGHTS Robust growth on both a sequential and year-over-year basis Revenue Adj. Gross Profit of Adj. EBITDA Adj. Gross Margin of $139.3M $62.0M of $20.6M 45.0% 70%YoY 90% YoY +$16M YoY 452bps YoY growth growth increase increase Introducing 2022 FY Guidance 2022 Guid
Slide 10: Profitability Trends by Market
PROFITABILITY TRENDS BY MARKET Profitability metrics improving throughout national portfolio Top 5 Markets by Revenue Top 5 Markets by Adj. Gross Margin Top 5 Markets by Adj. EBITDA Top 5 Markets by Adj. EBITDA Margin Q4 2021 Q4 2021 Q4 2021 Q4 2021 California 58% Delaware 59% Colorado 66% Delaware
Slide 11: Growth Trajectory & 2021 Catalysts
GROWTH TRAJECTORY & 2021 CATALYSTS 90,000 60 77,445 49% 80,000 50 43% 45% 70,000 41% 38% 60,000 27% 40 50,000 42,885 45,183 Accelerated CAPEX in Q4 2021 for 40,062 30 40,000 developing markets, such as NJ, NY, 30,000 25,029 20 VA, WV and ongoing cultivation expansion and upgrades. CAPEX 20,000 10 7,
Slide 12: Priority Growth Markets on the Horizon
PRIORITY GROWTH MARKETS ON THE HORIZON ey Columbia Care in Virginia $5B+ $3B+ $3B+ Projected TAM(1) Projected TAM(1) Projected TAM(1) 8 Retail Locations (4 Active, 4 In development) 3 Retail Locations (2 Active, 1 In Development) 12 Retail Locations (4 Active, 8 In Development) ~90k sqft Existing Cu
Slide 13: Expanding Retail Operations
EXPANDING RETAIL OPERATIONS Active Retail Locations by Quarter(1) 90 83 80 79 69 73 70 67 60 59 50 40 35 34 30 25 16 18 20 13 10 0 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Columbia Care TGS Project Cannabis THCSD gLeaf Medicine Man Retail Highlights • Opened first reta
Slide 14: Cultivation Highlights
CULTIVATION HIGHLIGHTS 35K 884K+ 65 grams Incremental Sqft Total Planned Sqft Average Yield per Sqft Added in Q4 2021 Incremental Capacity (DWE per harvest) Key Cultivation Upgrades & Expansions Market Status Notes AZ Ongoing Continuing to upgrade current infrastructure to improve efficiency LED ins
Slide 15: Low-Cost Cultivation, Efficient & Scalable Production
LOW-COST CULTIVATION, EFFICIENT & SCALABLE PRODUCTION 32 facilities with +2 million sq. ft of cultivation and manufacturing capacity Jurisdiction Facility Count Total Size (sqft) Status Arizona 2 34,800 Operational California 2 81,600 Operational Colorado 6 185,253 Operational Delaware 1 20,000 Oper
Slide 16: Acquisitions – Industry Consolidator
ACQUISITIONS – INDUSTRY CONSOLIDATOR Strategic, Accretive, Transformational Acquisitions Provide Depth in Operational Markets Date Closed Sept. 2020 Dec. 2020 Jan. 2021 June 2021 Nov. 2021 Dec. 2021 Upfront $140.0M $69.0M $15.0M $240.0M $42.0M $42.5M Consideration 1.2x 2021 Revenue Acquisition Multi
Slide 17: Financial Highlights
FINANCIAL HIGHLIGHTS (in US$ thousands) FY 2021A Q1 2021A Q2 2021A Q3 2021A Q4 2021A 2022 Guidance P&L / Cash Flow Revenue 473,834 92,492 109,744 132,322 139,276 $625M—$675M Adj. EBITDA 60,818 5,035 10,420 24,771 20,592 $120M—$135M Interest Expense 30,000 5,007 5,622 8,057 11,314 Capital Expenditure
Slide 18: Fourth Quarter State Highlights
FOURTH QUARTER STATE HIGHLIGHTS Top 5 Markets by Combined Revenue: California, Colorado, Massachusetts, Ohio, Pennsylvania Top 5 Markets by Adjusted EBITDA: Colorado, Maryland, Massachusetts, Pennsylvania, Virginia Market Commentary • Sequential improvement in EBITDA margin of 6% • Manufacturing foc
Slide 19: Fourth Quarter State Highlights
FOURTH QUARTER STATE HIGHLIGHTS Top 5 Markets by Combined Revenue: California, Colorado, Massachusetts, Ohio, Pennsylvania Top 5 Markets by Adjusted EBITDA: Colorado, Maryland, Massachusetts, Pennsylvania, Virginia Market Commentary • Record revenue weeks in Q4; sequential growth in gross margin and
Slide 20: STRAIN
STRAIN FLOW St” BRANDS
Slide 21: Cannabist Expansion
CANNABIST EXPANSION Columbia Care’s new retail storefront experience is centered on making shopping simple and approachable for the vast range of experience levels as cannabis use is normalized and legalized across the U.S., with knowledgeable staff and technology-enhanced interaction. 26 Cannabist
Slide 22: A Retail Platform Built for Continuous Innovation
A RETAIL PLATFORM BUILT FOR CONTINUOUS INNOVATION How do you want to feel today? Technology and efficiency innovation will continue to heighten the in-store and at-home shopping experience at Cannabist and create an all-encompassing ecosystem from home to dispensary and online. Forage is our online
Slide 23: Building National Brand and Product Portfolio
BUILDING NATIONAL BRAND AND PRODUCT PORTFOLIO Growing our proprietary brand footprint through expanded market penetration and wholesale reach In-house brands accounted for 67% of all flower sold at Columbia Care owned dispensaries Wholesale distribution expanded to 14 markets in 2021, expected to be
Slide 24: Rooted in Land & Harvested by Hand
ROOTED IN LAND & HARVESTED BY HAND We believe in the naturally restorative properties of cannabis and we proudly propagate that belief by sharing our bounty of flower with you Upscale yet accessible, Seed & Strain is the most widely distributed brand across the entire portfolio and can be found in 8
Slide 25: The Perfect Balance of Art and Science
THE PERFECT BALANCE OF ART AND SCIENCE. Our Cannabis is at the uppermost end of the quality spectrum, and our strains are unwavering in consistency. We’ve gone above and beyond the highest industry standards to cultivate the best strains that deliver every time Our ultra-premium brand has national p
Slide 26: Classix
Classix is our every day, timeless lifestyle brand that celebrates incredible cannabis moments shared with friends Classix successfully launched in 5 markets (AZ, MA, IL, DE, & NJ), and represented the single largest launch week for a brand in Columbia Care history totaling 12% of all sales on day 1
Slide 27: Tyson Is Back
TYSON IS BACK. Tyson 2.0 is an extraordinary balance of premium and affordable, full-spectrum cannabis flower, concentrates, and consumables available at retailers nationwide. Tyson 2.0 launched with Columbia Care as its exclusive national cultivation and manufacturing partner Tyson 2.0 currently of
Slide 28: AMBER
Formulations crafted by connoisseurs Vibes crafted by you AMBER is now offered across Delaware, Massachusetts, and California in whole shatter, shatter vapes, and live resin vapes California launched AMBER Diamonds and Live Sauce, two elevated concentrates that will situate AMBER as a sophisticated
Slide 29: Brand Partnerships
BRAND PARTNERSHIPS Launching new product lines and strategic partnerships • Committed to partnering with brands that have built engaged communities and loyal customer bases, we launched new product lines and strategic partnerships with Pitbull and Mike Tyson, as well as partnerships with the Profess
Slide 30: Award-Winning Products & Services
AWARD-WINNING PRODUCTS & SERVICES High Times Cannabis Cup Illinois 2021 • Hybrid Flower 1st Place: Triple 7, Rainbow Runtz • Indica Flower 2nd Place: Seed & Strain, Velvet Glove • Pre-Roll 2nd Place: Seed & Strain, Cherry Chem • Sativa Flower 3rd Place: Triple 7, Tropical Runtz Clio Cannabis Awards
Slide 31: Columbia Care
(o Columbia Care