Mr. Richard Proud reports

IANTHUS ANNOUNCES RESIGNATION OF DIRECTOR

iAnthus Capital Holdings Inc.'s John Paterson has resigned from the board of directors, effective immediately.

Mr. Paterson joined the company on April 20, 2023.

"Speaking on behalf of the entire iAnthus team, we thank John for his valuable contributions to the company and wish him future success," said Richard Proud, chief executive officer of the company.

Mr. Paterson added, "It has been a pleasure working with the entire iAnthus team, and I wish the company nothing but the best for the future."

Pursuant to the investor rights agreement dated June 24, 2022, by and among the company, iAnthus Capital Management LLC, a wholly owned subsidiary of the company, and certain investors (as defined therein), the investor who nominated Mr. Paterson is entitled to designate a successor nominee for appointment to the board, and the company is required to cause such nominee to be appointed to the board. As of the date hereof, such investor has not nominated a successor nominee, and the company has not appointed a replacement for Mr. Paterson. A copy of the investor rights agreement is available under the company's SEDAR+ profile and at the United States Securities and Exchange Commission's website.

About iAnthus Capital Holdings Inc.

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States.

We seek Safe Harbor.