Ms. La Nida Cedeno reports

MEDMEN ANNOUNCES DELAY OF FILING OF FINANCIAL STATEMENTS FOR THE YEAR ENDED JULY 1, 2023 AND ISSUANCE OF MANAGEMENT CEASE TRADE ORDER

Medmen Enterprises Inc. expects to be late in filing its financial statements and management's discussion and analysis for the year ended July 1, 2023, under applicable Canadian securities laws. The company is unable to timely file, without unreasonable effort and expense, its annual report on Form 10-K for the fiscal year ended July 1, 2023, because additional time is needed for the company to compile and analyze supporting documentation to complete the Form 10-K. The company intends to file the Form 10-K as soon as reasonably possible. The company anticipates having the 2023 financial filings available for filing on or before Nov. 29, 2023.

As previously reported in a current report on Form 8-K filed with the Securities and Exchange Commission on May 22, 2023, during the nine months ended March 25, 2023, the company identified errors that resulted in misstatements of certain assets and liabilities as of June 25, 2022, as well as misstatements of certain income and expenses for the year ended June 25, 2022, included in the company's annual report on Form 10-K for the fiscal year ended June 25, 2022, as filed with the SEC on Sept. 9, 2022. The restatement of the company's audited consolidated financial statements as of and for the year ended June 25, 2022, will also result in a restatement of the company's condensed consolidated financial statements (unaudited) as of and for the three months ended Sept. 24, 2022, and the three and six months ended Dec. 24, 2022, which the company intends to include in the Form 10-K.

Medmen applied for a management cease trade order under National Policy 12-203 (Management Cease Trade Orders), which was issued on Nov. 1, 2023, by the B.C. Securities Commission. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the company. Medmen intends to follow the alternative information guidelines contained in National Policy 12-203 for so long as it has not filed the 2023 financial filings.

About Medmen Enterprises Inc.

Medmen (Canadian Securities Exchange: MMEN and OTCMKTS: MMNFF) is a premier American cannabis company dedicated to improving life with cannabis for all. With operations across the United States in California, Nevada, Illinois, Arizona, Massachusetts and New York, Medmen is known for its leading Medmen and LuxLyte brands offering cannabis in consumer-preferred product forms for medical and recreational use. Medmen produces and curates the best consumer product assortment for retail operations in its local communities, and drives consumer loyalty with service and engaging in-store experience, combined with reward, delivery and e-commerce programs.

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