Dr. Kyle Kingsley reports

GOODNESS GROWTH PROVIDES CREAM & FIRE UPDATES

Goodness Growth Holdings Inc. has provided several leadership and corporate updates related to the day-to-day management of its business. Josh Rosen, who has served as interim chief executive officer since February of 2023, has been appointed as chief executive officer, effective immediately. The company also provided several other updates, including additional key personnel hires, an update regarding an extension of its credit agreement and a planned corporate name change to Vireo over the coming months.

• Josh Rosen to shed interim title and become chief executive officer; company provides other key personnel updates;
• Company receives a short-term extension of the maturity date on its credit facility;
• Company plans corporate name change to Vireo.

Executive chairman Dr. Kyle Kingsley commented: "Josh Rosen's leadership over the course of the past 14 months has been instrumental in securing a path forward for our company as a stand-alone enterprise. We have been immensely impressed with Josh's stewardship of the organization through the exceptionally challenging circumstances that were created by Verano's wrongful termination of our merger agreement. During his tenure as interim CEO, he has significantly improved our fundamental operating and financial performance, and has represented the company admirably in his interactions with both internal and external stakeholders. On behalf of our entire board of directors and executive management team, I am pleased that we have reached an agreement with Josh to drop the interim from his title and be our chief executive officer."

Chief executive officer Josh Rosen said: "Our team has overcome many challenges together since I stepped into the interim CEO role. I'm excited for the future of Vireo, and after being asked by the board to extend my time leading the company, I realized that I'm committed to this team and being a part of Vireo's evolution. We still have a lot of work to do to achieve our objectives and I am proud to serve in my role which, for now, also includes as interim CFO. We envision a future with many attractive avenues for growth and excellence within the cannabis industry, but that must begin and end with our focus on delivering quality product, service and value to our customers. Today's other key personnel updates reflect this commitment to developing and augmenting our team, and we look forward to demonstrating continued improvements."

Additional key personnel updates

Today, the company provided key personnel updates which relate to its continuing CREAM & Fire operating strategy which was unveiled in early 2023. In addition to the appointment of Mr. Rosen as chief executive officer, the company promoted Brendan Sweeny to executive vice-president of operations and realigned the finance team, nicknamed C3FO, with enhanced responsibilities for Aaron Garrido (VP -- chief of staff), Brandon Van Asten (VP of finance and controller) and Joe Duxbury (VP of finance and IR). The company also announced recent hires or affiliations of the following key personnel supporting its operations across Maryland and Minnesota:

• Alex Breant, general manager of Minnesota;
• Gabriel Garcia, Minnesota director of cultivation;
• Mark Doherty, vice-president of facilities management and performance;
• Tyler Alzamora, director of laboratory operations;
• Kyle Judson, Maryland director of cultivation;
• Nicole Stanton, outside general counsel.

Company president Amber Shimpa commented: "Since we began implementing our CREAM & Fire strategic initiatives last year, we have maintained a relentless focus on improving the quality and depth of our product offerings, as well as enhancing the value proposition of our products to customers and patients. The investment in our internal talent and these recent additions of important team members to our cultivation and operations teams reflect our continued commitment to our scrappy operators creed and our efforts to infuse our organization with weed hustle and passion for fire product. We've also been very pleased to welcome industry veteran Nicole Stanton as outside general counsel supporting our legal and compliance operations, and look forward to her continued contributions as we continue executing our CREAM & Fire strategy."

Extension of credit agreement with Chicago Atlantic

The company also announced today that it is in ongoing discussions with its senior secured lender, Chicago Atlantic Admin LLC, an affiliate of Green Ivy Capital, to finalize a longer-term extension of its credit agreement. While this process remains continuing, the parties have agreed to a short-term extension of the maturity date on their term loan until June 14, 2024, matching all other terms of the existing agreement.

Planned corporate name change to Vireo

Today the company also announced that it has planned a corporate name change to Vireo in the coming months. The company expects to provide additional details regarding its name change and expected ticker symbols for its listed subordinate voting shares in the United States and Canada when close to being finalized.

Mr. Rosen concluded: "Our name change to Vireo reflects a return to our roots and focus as a cannabis industry operator. We are proud of the Vireo brand name and its importance in our heritage, and believe Vireo appropriately reflects our corporate identity to all stakeholders."

About Vireo and Goodness Growth Holdings Inc.

Vireo (Goodness Growth) was founded as a pioneer in medical cannabis in 2014 and sustained with an entrepreneurial drive that fuels the company's continuing commitment to serve and delight its key stakeholders, most notably its customers, its employees, its shareholders, its industry collaborators, and the communities in which the company lives and operate. The company works every day to get better and its team prioritizes 1) empowering and supporting strong local market leaders and 2) strategic, prudent capital and human resource allocation.

We seek Safe Harbor.