Mr. Robert Vanisko reports

AYR WELLNESS PROVIDES UPDATE ON EXTENSION OF THE LIMITED WAIVER AGREEMENT WITH SENIOR NOTEHOLDERS

Ayr Wellness Inc. has entered into an additional amendment to its previously disclosed limited waiver agreement with the holders of a majority of its senior secured notes. This latest amendment extends the temporary waiver period to July 18, 2025, providing the company with additional time and flexibility to continue negotiations with its senior lenders and to further pursue strategic options to strengthen its capital structure.

As previously disclosed, under the limited waiver agreement, the majority holders have 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 agreement.

The extension to July 18, 2025, 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. Ayr remains committed to working collaboratively with its senior lenders and other stakeholders to review and assess all available strategic alternatives.

The company continues to operate its business in the ordinary course and expects to continue evaluating growth opportunities in key markets.

About Ayr Wellness Inc.

Ayr Wellness is a vertically integrated, United States 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.