Mr. Obie Strickler reports

GROWN ROGUE EXPANDS SENIOR CREDIT FACILITY BY US$5 MILLION

Grown Rogue International Inc. has secured an incremental $5-million (U.S.) in financing from a national, Federal Deposit Insurance Corp.-insured commercial bank, expanding the company's existing senior secured credit facility to $12-million (U.S.) in aggregate principal.

Proceeds from the expanded facility will be used to support Grown Rogue's growth initiatives, including the expansion of its New Jersey affiliate and the buildout of its Illinois cultivation facility, as well as to enhance overall balance sheet flexibility. The amended terms of the facility include an interest rate of 7.52 per cent for the latest tranche.

"We are excited to close this additional tranche of debt to support our expansion projects and bolster our balance sheet. We continue to execute our disciplined growth strategy," said Obie Strickler, chief executive officer of Grown Rogue.

Mr. Strickler continued: "We know some investors may raise questions about taking on additional debt. I want to address that directly:

• "We believe these debt terms are among the most attractive currently available to cannabis operators and are aligned with market rates for similarly positioned businesses in other industries.
• "Our existing Oregon and Michigan operations comfortably support our debt obligations, and the contributions from New Jersey only strengthen that position.
• "We expect our projects in New Jersey and Illinois to generate returns that significantly exceed this cost of capital as we've recently highlighted regarding our internal return hurdles.
• "Finally, this additional capital provides us with the agility to act decisively on strategic opportunities in a distressed environment where speed and certainty are often critical.

"As one of Grown Rogue's largest shareholders, I take balance sheet discipline seriously. We will continue to be transparent and thoughtful in how we deploy capital to create long-term value for our customers, our team and our shareholders. Finally, I want to again thank our lender for their continued partnership and trust in Grown Rogue."

Terms of the amended facility include:

• Incremental $5-million (U.S.) financing, bringing the total to $12-million (U.S);
• 7.52-per-cent interest rate payable in cash for second tranche, blended rate of 7.84 per cent on full facility;
• Four-year term with 16.7 per cent of the principal amortizing annually on a straight-line basis, and the remaining 33.3-per-cent balance repaid at maturity;
• Covenants consistent with the original agreement.

Option issuance

• On Sept. 3, 2025, the company's board of directors approved the issuance of 300,000 incentive stock options in accordance with the shareholder-approved equity incentive plan. The options vest in six-month increments over two years and carry a strike price of 61 cents.

About Grown Rogue International Inc.

Grown Rogue is a flower-forward cannabis company rooted in Oregon's Rogue Valley, a region known for its deep cannabis heritage and commitment to quality. With operations in Oregon, Michigan and New Jersey -- and expansion under way in Illinois -- Grown Rogue specializes in producing designer-quality indoor flower. Known for exceptional consistency and care in cultivation, its products are valued by retailers, budtenders and consumers alike.

By blending craft values with disciplined execution, it has built a scalable, capital-efficient platform designed to thrive in competitive markets. It believes sustained excellence in cannabis flower production is the engine of the industry's supply chain and its competitive advantage.

We seek Safe Harbor.