Mr. Jim Cacioppo reports

JUSHI CELEBRATES ENACTMENT OF VIRGINIA ADULT-USE CANNABIS LEGISLATION

Jushi Holdings Inc. has celebrated the enactment of legislation establishing a regulated adult-use cannabis market in the commonwealth of Virginia, adopted through Virginia's biannual budget.

The legislation makes Virginia the first Southern state to establish a regulated adult-use cannabis marketplace, representing a landmark moment for the commonwealth and the broader region. Under the legislation, licensed adult-use sales are scheduled to commence on July 1, 2027. The company congratulates Governor Abigail Spanberger, Senator Lashrecse Aird, Delegate Paul Krizek, and the Leadership of the Virginia General Assembly for their vision and commitment to creating a safe, well-regulated cannabis market that expands consumer access, creates jobs, generates meaningful tax revenue and continues to displace the illicit market.

Over the past several years, Jushi has built a strong operational foundation in Virginia through investments in cultivation, manufacturing and retail infrastructure, positioning the company to serve adult-use consumers from the launch of the regulated market. In preparation for the commencement of adult-use sales, the company is advancing the next phase of its Virginia growth strategy, including plans for a significantly expanded cultivation facility expected to first increase cultivation space 33 per cent later this year, followed by an approximate doubling of the facility's then existing indoor flowering canopy in the second half of next year resulting in a multiphase cultivation expansion of over 250 per cent, while also evaluating opportunities to acquire a secured agricultural greenhouse property to support future production capacity starting early next year.

"The enactment of this legislation is a game-changing moment for Virginia and marks the beginning of Jushi's next phase of growth," said Jim Cacioppo, chief executive officer, chairman and founder of Jushi Holdings. "Virginia represents the single largest organic growth opportunity in our company's history, and we've spent years preparing for this moment by building a scalable operating platform. As the commonwealth prepares for the launch of adult-use sales, we're accelerating cultivation expansion and positioning Jushi to capitalize on one of the most compelling organic growth opportunities in the cannabis industry. We believe these initiatives position Jushi to play a leading role in Virginia's transition to a regulated adult-use marketplace."

The new framework establishes a regulated marketplace that will provide adults with access to safe, laboratory-tested cannabis products through licensed retailers while strengthening consumer protections, supporting economic development and creating a transparent, highly regulated market that benefits consumers and the commonwealth alike.

Jushi looks forward to supporting Virginia's successful transition to adult-use sales while continuing to provide exceptional care to its medical cannabis patients.

About Jushi Holdings Inc.

The company is a vertically integrated cannabis company led by an industry-leading management team. Jushi is focused on building a multistate portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem.

We seek Safe Harbor.