Mr. Art Smuck reports

TILT HOLDINGS APPOINTS TIM CONDER AS PERMANENT CEO, ANNOUNCES CHANGE OF BOARD CHAIRPERSON

Tilt Holdings Inc. interim chief executive officer Tim Conder will transition to permanent CEO, effective as of today. Mr. Conder has been a member of Tilt's board of directors since October, 2019, served as the company's president and chief operating officer from July, 2019, until November, 2020, and has served as interim CEO since April, 2023. The company also announced Art Smuck has been appointed chair of the board, succeeding John Barravecchia, who will continue to serve as board member and chair of the audit committee. Mr. Smuck brings extensive experience with large cannabis brands and complex distribution operations to his new role.

"Tim has been instrumental in bringing financial discipline to Tilt, and, since being appointed interim CEO, we believe he has already made significant headway in strengthening the company's operations and financial position," said Mr. Smuck. "This includes implementing cost-cutting measures across the organization and making strategic shifts to the company's business model and approach to brand partnerships. The board has every confidence in Tim's leadership and ability to continue executing the company's refined business strategy and build a foundation for profitable growth in 2024 and beyond."

Mr. Conder brings 15 years of experience operating innovative, high performing teams in the technology, logistics and supply chain sectors. Prior to Tilt, Mr. Conder co-founded Blackbird Logistics, a technology and logistics provider in the cannabis space, in 2015, and most recently served as the president of the Blackbird business unit and chief technology officer at Herbl Inc., a distributor and supply chain provider for cannabis.

"I am excited to continue leading Tilt on a permanent basis and have been impressed with the team's commitment to our strategic goals and refined plan," said Mr. Conder. "I look forward to working more closely with the board and leveraging my experience both within and outside of the cannabis sector to return Tilt to growth and profitability as we seek to drive value creation 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 Canada, Israel, 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.

We seek Safe Harbor.