Mr. Kyle Kazan reports

GLASS HOUSE BRANDS ANNOUNCES ACCELERATED 2026 EXPANSION STRATEGY

Glass House Brands Inc. has accelerated its 2026 expansion plans. These plans are because of positive results with the previously announced development and to capitalize on looming cannabis reform action and anticipated new business opportunities.

Prior to year-end 2025, the company returned to full production capacity within its existing greenhouses, following a step back in prior months. The company completed the buildout of the first third of Greenhouse 2, which is the company's fourth operational greenhouse at the SoCal Farm. The company ended the year with the most planted acreage in Glass House history. Initial contributions from Greenhouse 2 will be included within first quarter 2026 results.

The company had planned to complete the remainder of Greenhouse 2 later in 2026 but has accelerated the buildout with plans for full planting within the second quarter of 2026. In total, Greenhouse 2 provides an incremental annual production capacity of approximately 300,000 pounds of biomass.

In addition, the company has commenced a light retrofit and buildout of Greenhouse 4 with plans for production capabilities to target international CBD and hemp markets. Furthermore, the company plans to be an eventual supplier to the reimbursable CBD market that will be created under President Trump's December executive order for rescheduling.

"We are very pleased with and proud of our team's ramp back efforts of the past six months for existing greenhouses along with early results from Greenhouse 2 expansion. The company is ready to put its foot fully back on the gas pedal. We anticipate strong growth in 2026 and beyond," said Kyle Kazan, co-founder, chairman and chief executive officer of Glass House.

"We excitedly await the final execution of President Trump's executive order by Attorney General Pam Bondi. We are planning for the associated new business opportunities that we expect to come from cannabis rescheduling and the creation of the new Medicare reimbursement program for CBD. We remain confident that Schedule III under the current administration can provide cannabis export opportunities in the near term to Europe and other international markets. The wholesale biomass prices are expected to be meaningfully higher than those achievable in California.

"Furthermore, we believe that Glass House is uniquely qualified to participate in the growth opportunities ahead for the U.S. CBD market. We have existing CBD/low THC strains in the California market that we anticipate can be produced to comply with new federal regulations for consumer products and are actively engaged in the development of medicinal cannabinoids within our ongoing hemp research partnership with the University of California Berkeley. Through this, we are confident that we can be a leading supplier in the potentially forthcoming pharmaceutical and CPG markets."

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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