Mr. John Hartmann reports

AWH APPLAUDS DEA ON DECISION TO MOVE CANNABIS FROM SCHEDULE I TO SCHEDULE III

Ascend Wellness Holdings Inc. is proudly supportive of the reports citing the United States Drug Enforcement Agency's (DEA) decision to accept the recommendation of the U.S. Department of Health and Human Services (HHS) to move cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA).

John Hartmann, chief executive officer of Ascend, provided a statement about the implications of this and what it means for the industry moving forward: "The early reports citing that the DEA plans to agree with the HHS to reschedule cannabis from Schedule I to Schedule III mark a historic step forward from the federal government on cannabis reform. This change is a pivotal move that opens a multitude of opportunities to cannabis operators like Ascend and is the most-progressive act of cannabis reform that we have seen in decades. This favourable industry development could eliminate the 280e tax burden, improve customer and patient access, enhance access to funding, reduce the cost of capital, provide broader research avenues, and more. As we navigate this transformative landscape, Ascend eagerly anticipates exploring further potentials, including the possibility of uplisting to major exchanges. We look forward to seeing how this plays out in the coming months. We celebrate this unprecedented decision and eagerly anticipate the benefits it will bring to all industry stakeholders, including patients, customers, employees, licence holders, investors and others."

Ascend looks forward to the next steps in the rescheduling process before the rule is made final. Ascend employs approximately 2,400 people and operates 36 dispensaries and seven cultivation facilities across Illinois, Maryland, Massachusetts, Michigan, Ohio, New Jersey and Pennsylvania.

About Ascend Wellness Holdings Inc.

Ascend Wellness is a vertically integrated operator with assets in Illinois, Maryland, Massachusetts, Michigan, Ohio, New Jersey and Pennsylvania. Ascend Wellness owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. Ascend Wellness produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Tunnel Vision and Royale products.

We seek Safe Harbor.