Mr. Kyle Kazan reports

GLASS HOUSE BRANDS APPLAUDS CANNABIS REFORM ACTION

Glass House Brands Inc. is applauding yesterday's cannabis reform action from the Trump administration.

"The executive order to reschedule cannabis to a Schedule III classification and the authorization of a pilot program for Medicare reimbursement of the cannabis compound CBD [cannabidiol] represent the most important drug reform of the past 50 years. The executive action reflects genuine common sense, acknowledging the beneficial medical and therapeutic properties of the cannabis plant and granting people greater access to find relief in more natural ways," said Kyle Kazan, co-founder, chairman and chief executive officer of Glass House.

"We excitedly await the final execution of President Trump's order by Attorney-General Pam Bondi and are encouraged by the opportunities to expand our business through rescheduling. Specifically, we are confident that Schedule III under the current administration can provide export opportunities into international markets and note that Glass House is uniquely qualified to participate in the growth opportunities ahead for the U.S. CBD market.

"The announced CBD reimbursement program, through which the 60-plus million seniors on Medicare will be eligible for $500 per year of reimbursement beginning in April, 2026, creates a more than $30-billion market. Given our low-cost, high-quality cannabinoid production model, Glass House can be a leading supplier to this market. We have existing CBD/low-THC [tetrahydrocannabinol] strains in the California market that we believe can be comported with the new federal regulations and are actively engaged in the development of these CBD products. We continue to work with the University of California Berkeley through our hemp research partnership, which prioritizes medicinal cannabinoids that fit perfectly into the new world that President Trump announced today.

"We are prepared for the opportunities ahead, our ramp-up efforts of the past few months continue to progress, and we are again fully planted with our legacy greenhouses. Our cultivation team has the most acreage planted in the company's history and we will continue to expand in early 2026."

About Glass House Brands Inc.

Glass House is one of the fastest-growing, vertically integrated cannabis companies in the United States, with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. Whether it be through its portfolio of brands, which includes Glass House Farms, Plus Products, Allswell and Mama Sue Wellness, or its network of retail dispensaries throughout the state of California, which includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all.

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