Mr. Micah Anderson reports

LEEF BRANDS LAUNCHES NEW YORK LAB, 2025 PRODUCTION FULLY COMMITTED

Leef Brands Inc.'s extraction lab in upstate New York is operational. The company has completed installation of its equipment and has commenced solventless concentrate production, with hydrocarbon capabilities expected to come on-line next quarter. This positions Leef to meet rising demand in one of the United States' fastest-growing cannabis markets.

All concentrate production for 2025 has already been allocated to a combination of Leef's established brand partners, many of which are also leaders in New York, as well as a select group of new in-state clients. This provides immediate revenue impact and underscores the strong demand for Leef's concentrates.

"Launching operations in New York is a landmark moment for Leef," said Micah Anderson, chief executive officer of Leef Brands. "Our solventless lab is already producing premium rosin, and, with hydrocarbon production expected to come on-line next quarter, we will soon deliver a full portfolio of concentrates. The fact that our 2025 production is already fully committed speaks volumes about the trust our partners place in Leef's quality, consistency and execution."

This milestone marks Leef's transformation into a multistate operator with a strong presence in two of the top-10 cannabis markets in the United States. According to the New York Office of Cannabis Management, the state generated over $1-billion in sales in 2024, and analysts expect New York to exceed $1.5-billion in 2025, with the potential to surpass $2-billion in 2026. Concentrates are used in approximately 55 per cent of products sold, making New York an ideal market for Leef.

"As we scale in New York, we expect this market not only to drive meaningful revenue growth but also deliver higher margins as we push into 2026," said Kevin Wilson, chief financial officer of Leef Brands. "Together with successful harvests at Salisbury Canyon Ranch in California, New York operations position us to significantly improve our financial profile as we head into 2026."

This announcement follows the company's previously announced completion of the New York licence acquisition in June, 2025, marking a rapid transition from acquisition to operational launch and initial sales.

Conference participation

Leef's leadership team will participate in multiple industry and investor events in October. Micah Anderson, chief executive officer, will attend the Hall of Flowers conference in New York on Oct. 8 and Oct. 9, where he will meet with brand partners and industry stakeholders. Mr. Anderson will also present at the Digital Wealth Frontiers Summit on Oct. 15, a one-day on-line event focused on innovative investment strategies. Interested investors may register for the event.

Jesse Redmond, head of investor relations and business development, will speak at the IgniteIt Cannabis Market Spotlight in Anaheim, Calif., on Oct. 8.

Parties interested in scheduling a meeting with Mr. Anderson or Mr. Redmond during these events are encouraged to contact the company at ir@leefca.com.

About Leef Brands Inc.

Leef Brands is a leading California- and New York-based extraction and manufacturing cannabis company. With a comprehensive supply chain, innovative manufacturing processes and a dynamic bulk concentrate portfolio, Leef powers some of the largest cannabis brands in the United States.

We seek Safe Harbor.