Mr. Roman Nemchenko reports

ASCEND WELLNESS HOLDINGS ANNOUNCES PARTNERSHIP WITH MISTER JONES IN NEW JERSEY

Ascend Wellness Holdings Inc. has signed a partnership agreement with Mister Jones LLC and long-time adult-use cannabis advocate Lerone Jones. This partnership marks a significant milestone as it is one of the first under New Jersey's recent Assembly Bill A4151, which facilitates expanded investment opportunities for diversely owned businesses in the cannabis industry. Ascend Wellness will provide comprehensive support to finance the retail space and upfront capital, ensure a steady product flow, including the company's product portfolio, and provide technical assistance to deliver back-end operational support. The dispensary, located at 655 US-46, Little Falls Township, N.J., 07424, is set to open on Dec. 19.

Mr. Jones previously worked as the floor supervisor at Ascend Montclair and has been an integral part of Ascend's journey, receiving mentorship and developing his operational experience in the cannabis industry. Mr. Jones founded his first company, Green Garden Advisors, and has actively advocated for adult-use cannabis in New Jersey at both the state and local levels. In 2017, Mr. Jones was invited to Las Vegas along with senators, assemblymen and potential operators from New Jersey to study Nevada's legal adult-use cannabis model. The insights gained from this experience further informed his vision for Mister Jones.

"I am excited to rejoin Ascend in this new capacity and to continue our shared mission of making cannabis accessible and beneficial for all," said Mr. Jones. "I'm passionate about advocating for the power of the plant. This partnership reflects my belief in the potential of this industry to create jobs and stimulate growth in our communities, especially those negatively impacted by the war on drugs. Together with Ascend, I am eager to establish a retail presence that prioritizes education for our customers."

"Partnering with Lerone Jones and Mister Jones LLC is an exciting opportunity for Ascend to expand our footprint in New Jersey," said Grazia Laurendi, regional director of New Jersey for Ascend Wellness Holdings. "Lerone's deep understanding of the cannabis industry and his commitment to advocacy make him the ideal partner for this endeavour. We are proud to support him in bringing this retail location to the Little Falls community, and we look forward to contributing to the local economy and fostering responsible cannabis use."

The Mister Jones dispensary will operate from 8 a.m. to 10 p.m. daily. A grand opening celebration is planned for Dec. 19, and will feature giveaways, promotions and in-store activations. For more information on the Mister Jones dispensary, visit the Mister Jones website.

Ascend has a strong commitment to social equity in the cannabis industry, demonstrated through initiatives such as the CO-LAB for Social Equity, which focuses on restorative justice, economic empowerment and community reinvestment. The program has also supported mentorship, education and financing for aspiring cannabis entrepreneurs from diverse backgrounds. By fostering inclusivity and supporting community-driven initiatives, Ascend aims to help create pathways to success for minority-owned businesses.

About Mister Jones LLC

Mister Jones, founded by Mr. Jones, is dedicated to advocating for responsible adult-use cannabis and creating a positive impact in local communities. With a focus on education and accessibility, Mister Jones aims to elevate the cannabis shopping experience for all consumers.

About Ascend Wellness Holdings Inc.

Ascend Wellness is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. The company 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 Simply Herb, Ozone, Ozone Reserve, High Wired, Effin', Common Goods and Royale branded products.

We seek Safe Harbor.