Mr. John Moynan reports

SLANG WORLDWIDE CEO PROVIDES BUSINESS UPDATE LETTER TO SHAREHOLDERS

Slang Worldwide Inc. today issued a letter to shareholders from its chief executive officer John Moynan.

To our shareholders,

Since our strategic restructuring in 2021, Slang has executed its growth plan with precision, scaling our vertically integrated operations in our core markets of Colorado and Vermont and, as a result, we have produced greater opportunities for higher-margin revenue growth. We have also taken strategic steps to further enhance and expand our award-winning cannabis brand portfolio, cementing our position as a reliable industry leader in meeting consumer demand within the most competitive cannabis markets and demonstrating our evolving ability to serve our expanding consumer base.

During the first half of 2023, we remained focused on understanding and adapting to evolving cannabis consumer trends, enabling us to strengthen our portfolio of high-quality, uniquely favourable brands. The sales success of our recently introduced products highlights our ability to lead the delivery of the next generation of cannabis products, effectively catering to the preferences of today's consumers. Slang's reputation for innovation, quality and consistency has earned us the trust of consumers, and our recent initiatives have exceeded expectations, resulting in a notable positive impact on our consumer base and sales growth. This momentum sets the stage for continued success in the second half of 2023 and beyond.

Colorado

• In the first half of 2023, sales of O.pen cartridges experienced significant growth, up by 16 per cent to 415,082 units, from 357,924 units during the same period in the previous year.
• In June, 2023, we launched our new two-gram disposable cartridges with an initial sales goal of 3,000 units. The company exceeded this goal by 241 per cent, selling 7,238 units in the first month alone.
• The initial success of the two-gram cartridge indicates the evolving consumer preferences, and we are now therefore expanding our portfolio with a new one-gram cartridge.
• The disposable category of the Colorado cannabis industry increased 33.7 per cent in April/May, 2023, from April/May, 2022, reflecting Slang's continued success and focus.

Vermont

• In July, 2023, we proudly launched the first line of fast-acting THC-infused gummies under the Alchemy Naturals brand at Slang's Burlington Ceres Collaborative Dispensary.
• Wholesale sales in the second quarter showcased extraordinary growth, surging by 380 per cent compared with the first quarter of 2023, demonstrating the unique opportunity for sustainable growth in the rapidly developing Vermont market.

Emerging markets

• Slang successfully entered the Maryland adult use market through our longstanding partnership with Trulieve as it became legal on July 1, 2023.
• Building on our established leadership position since entering the medicinal market with Trulieve in May, 2022, we increased our offering to the Maryland cannabis market with 14 available daily strains and a new 500-milligram all-in-one that launched on July 28, 2023.

Our multifaceted and proven growth strategy has focused on vertically integrated operations in Vermont and Colorado, as well as expansion into emerging markets through our strategic partnership model. Our lean and agile approach positions us to unlock unparalleled growth potential in each uniquely structured cannabis market.

As we move forward in 2023, we will remain laser-focused on advancing newly established higher-margin revenue channels, such as our wholesale business in our core markets and our THC-free business across the country to further propel our financial growth and enhance our brand performance. This strategy, combined with our commitment to innovation and quality, will continue to cement our position as a leading player in the cannabis industry.

Once again, I would like to thank our board of directors, the entire team at Slang and our shareholders for their continuing support.

About Slang Worldwide Inc.

Slang Worldwide is the industry leader in branded cannabis consumer packaged goods, with a diversified portfolio of five distinct brands and products distributed across the United States. Operating in 13 legal cannabis markets nationwide, Slang specializes in acquiring and developing market-proven regional brands, as well as launching innovative new brands to seize global market opportunities and match evolving consumer tastes. The company has over a decade of experience operating in the nascent and highly regulated cannabis sector, and its partners enjoy the benefits of that experience, with access to the Slang playbook for successful operations, sales and marketing. Its strong product pipeline from uniquely positioned and scalable brands like O.pen, Alchemy Naturals, Ceres and Firefly, and partnerships with brands like Greenhouse Seed Company has a proven record of success, with the brands consistently ranking among the top performers in the states where Slang operates.

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