Ms. Christine Hersey reports

TRULIEVE ANNOUNCES CLOSING OF US$60 MILLION PRIVATE PLACEMENT OF 10.5% SENIOR SECURED NOTES

Trulieve Cannabis Corp., further to its Dec. 17, 2025, news release, has closed a second tranche of its previously announced private placement of 10.5 per cent senior secured notes due 2030 in the principal amount of $60.0-million (U.S.). Together with the first offering of notes, which closed on De.c 17, 2025, Trulieve has issued notes in the aggregate principal amount of $200.0-million (U.S.). The notes were issued at a price of $1,000 (U.S.), plus accrued but unpaid interest from Dec. 17, 2025, to Jan. 29, 2026, in the amount of $12.37 (U.S.) per $1,000 (U.S.) principal of notes, and have the same terms as those issued on Dec. 17, 2025.

The offering was conducted on a best efforts basis pursuant to the terms of an agency agreement, between the company and Canaccord Genuity Corp., as sole agent and sole bookrunner. The company will make the required filings to list the notes on the Canadian Securities Exchange following the expiry of the four-month Canadian statutory hold period.

The company intends to use the net proceeds of the offering for capital expenditures and other general corporate purposes.

About Trulieve Cannabis Corp.

Trulieve is an industry-leading, vertically integrated cannabis company and multistate operator in the United States, with leading market positions in Arizona, Florida and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.

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