Mr. Robert Vanisko reports

Ayr WELLNESS PROVIDES UPDATE ON RECEIPT OF NOTICE OF DISPOSITION OF COLLATERAL RELATING TO PA NATURAL MEDICINE LLC AND AN EXTENSION OF THE LIMITED WAIVER AGREEMENT WITH SENIOR NOTEHOLDERS

Ayr Wellness Inc. has received a notification of disposition of collateral from Anthony J. DePaul, as agent and secured party under the pledge agreement dated as of Oct. 1, 2021, between CSAC Acquisition PA II Corp., a subsidiary of the company, and the agent. Separately, the company announces that it has entered into an additional amendment to the previously disclosed limited waiver agreement dated June 6, 2025, as amended on June 19, 2025.

The notice alleges that due to certain purported defaults under the pledge agreement and related loan documents, the agent intends to potentially reclaim ownership of and subsequently sell all of CSAC Acquisition PA II's interest in and to all of the equity interests in PA Natural Medicine LLC owned by CSAC Acquisition PA. PA Natural Medicine operates licensed medical cannabis dispensaries in State College, Bloomsburg and Selinsgrove, Penn. The company is considering the notice, exploring all of its options in response to the notice and is prepared to take any steps it determines to be appropriate in the circumstances.

The second amendment formally extends the temporary waiver period provided under the original agreement to July 11, 2025, after it was extended by the first amendment to July 3, 2025. As previously disclosed, under the original agreement, the holders of a majority of Ayr's senior secured notes (the majority holders) provided a waiver of certain events of default related to the company's delay in filing its interim financial statements for the quarter ended March 31, 2025, as well as specific payment defaults that may occur under Ayr's other outstanding indebtedness. This waiver temporarily restrains the majority holders from exercising their default-related rights and remedies with respect to those specified defaults, subject to the terms and conditions in the original agreement. By further extending the waiver period, the second amendment grants the company additional time and flexibility to continue continuing negotiations with its senior lenders and to further pursue strategic options to strengthen its capital structure.

The extension provided in the second amendment does not constitute a permanent waiver of any existing defaults or any rights under the governing documents; rather, it allows for continued dialogue and exploration of potential strategies to address the company's financial obligations.

About Ayr Wellness Inc.

Ayr Wellness is a vertically integrated, U.S. multistate cannabis business. The company operates simultaneously as a retailer with 90-plus licensed dispensaries and a house of cannabis CPG (consumer packaged goods) brands.

Ayr is committed to delivering high-quality cannabis products to its patients and customers while acting as a force for good for its team members and the communities that the company serves.