Ms. Jennifer Dooley reports

GREEN THUMB INDUSTRIES (GTI) EXPANDS BRAND PORTFOLIO WITH ACQUISITION OF CALIFORNIA-BASED FOR SUCCESS HOLDING COMPANY, OWNER OF BEBOE BRAND

Green Thumb Industries Inc. has signed a definitive agreement to acquire For Success Holding Company, creator of the lifestyle suite of Beboe-branded cannabis products and headquartered in Los Angeles.

Beboe is known for its thoughtful design aesthetic from product to packaging including its iconic rose gold vaporizer pens, which are available in two distinct varieties, Inspired and Downtime, and its ice water hash microdosed pastilles. Available in more than 125 California and Colorado retail locations and via home delivery across California, Beboe also recently launched a direct-to-consumer hemp-derived cannabidiol line of products and has launched several collaborations, including a CBD-infused drink with wellness brand Dirty Lemon. Beboe products will expand beyond California and Colorado with distribution in select GTI markets.

"We believe authentic brands distributed at scale is the key to winning in this industry and we've built the national infrastructure to produce and distribute high-quality products across the country," said Green Thumb founder and chief executive officer Ben Kovler. "The meticulously crafted suite of Beboe products supports the premium segment within GTI's brand portfolio and is firmly aligned with our long-term growth strategy. Beboe has an extremely talented team, a robust innovation pipeline and an aligned vision for what cannabis can mean for enhancing everyday life, not only for today but importantly for tomorrow's cannabis consumer. We are thrilled to have this visionary team of Scott Campbell and Clement Kwan join the GTI family."

Co-founded by Scott Campbell, the Beboe brand is a tribute to Mr. Campbell's beloved grandmother, Be Boe, who alleviated the cancer symptoms of Mr. Campbell's mother by baking marijuana-infused brownies. He is known throughout the world as being one of the most influential figures in modern tattoo culture, bringing what was once an underground trade to the front lines of contemporary art and luxury culture. Now he is working to bring another industry out of fringe culture and into the highest levels of appreciation. He has partnered with luxury brands such as Louis Vuitton, Berluti, Constellation Brands and Marc Jacobs. His work appears on the bodies of Johnny Depp, Jennifer Aniston, Robert Downey Jr., Orlando Bloom and countless others.

Co-founder Clement Kwan has a long history in executive roles across the fashion industry. He has been integral to the growth and success of brands such as Theory, Diesel, and Dolce & Gabbana. In 2012, Mr. Kwan took on the role of president, heading the United States business of YOOX Group. Under his leadership, YOOX grew to become the defacto luxury e-commerce platform in fashion operating the sites for most major fashion brands. He helped oversee YOOX's acquisition of NET-A-PORTER GROUP, which created an entity that controlled both the order fulfilment side and a powerful consumer-facing editorial platform. He then bowed out of fashion and set his sights on cannabis, starting For Success Holding with Beboe being just the first of his brands to launch.

"In appreciation of all my grandmother did to bring warmth and love into our house, we started Beboe to offer the same sense of care and possibility for people like myself, high-functioning adults, who don't have the patience for anything less than the best possible experience," said Mr. Campbell. "Having seen the entire landscape of this industry, I truly believe in GTI. We've sat down in countless conference rooms of cannabis operations and funds, and it's disheartening how many people in the space are operating with a slash and burn mentality. Rapid growth at all costs with little regard to the sustainability of growth or respect of existing cannabis culture. GTI has the resources and intent to lead the growth of the cannabis industry in a way that celebrates the plant and the irreversible culture shift that it has inspired."

Mr. Kwan added: "We aligned with GTI because we agree with their strategies and philosophies. We believe cannabis enhances the quality of life, and to be able to improve the lives of more people with Beboe's introduction into additional stores and new markets is extremely gratifying. With the support of GTI, we will waste no time in growing Beboe brands' availability and to help define cannabis's place in American culture."

Under the terms of this non-material transaction, Green Thumb will pay an undisclosed amount of stock. The deal is expected to close in first quarter 2019 pending customary closing conditions.

About Green Thumb Industries Inc.

Green Thumb Industries, a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which it serves. As a vertically integrated company, the company manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called Rise. Headquartered in Chicago, Ill., the company has 10 manufacturing facilities and licences for 70 retail locations across nine highly regulated U.S. markets.

About Beboe

Beboe is the Los Angeles-based leader in luxury cannabis. Founded in 2017 by friends and cannabis growers Mr. Campbell and Mr. Kwan, Beboe's mission is to destigmatize legal cannabis through heightened experience and education. With sleek packaging and social dosing, Beboe offers the sophisticated cannabis consumer an experience unlike any other on the market. In 2017, Beboe launched cannabis vaporizing pens and edible pastilles, each curated with a unique blend of tetrahydrocannabinol and cannabidiol.

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