Mr. Tim Conder reports

TILT HOLDINGS ANNOUNCES LEADERSHIP CHANGE, DEPARTURE OF CHIEF FINANCIAL OFFICER

Tilt Holdings Inc. has provided an update on a leadership change, where Dana Arvidson, who has served as chief financial officer since December, 2022, has departed the company, effective today.

During this transition period, Brad Hoch, Tilt's former chief financial officer and current chief accounting officer, has been appointed interim chief financial officer, effective May 22, 2023.

"Dana Arvidson played a key role in refinancing our legacy debt earlier this year. We wish him well," stated Tim Conder, Tilt's interim chief executive officer. "We are fortunate to have our former CFO, Brad Hoch, who we expect can seamlessly fill this role on an interim basis."

Mr. Conder added: "It is imperative that we optimize our business for capital preservation and cash generation. To begin this process in earnest, we are reducing our corporate overhead by decreasing head count, including additional members of the senior leadership team, and rationalizing expenses."

Mr. Conder concluded, "While this process is never easy, these actions are necessary as we work to realign our company to create an agile team focused on profitability and operational excellence for all of our stakeholders."

About Tilt Holdings Inc.

Tilt helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, Tilt services brands and cannabis retailers across 39 states in the United States as well as in Canada, Israel, Mexico, South America and the European Union. Tilt's core businesses include Jupiter Research LLC , a wholly owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations Commonwealth Alternative Care Inc. in Massachusetts, Standard Farms LLC in Pennsylvania and Standard Farms Ohio LLC in Ohio. Tilt is headquartered in Phoenix, Ariz.

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