Mr. Eric Offenberger reports

VEXT REPORTS FINANCIAL RESULTS FOR Q4 AND FISCAL 2023

Vext Science Inc. has released its financial results for the period ended Dec. 31, 2023. All currency references used in this news release are in U.S. currency unless otherwise noted.

Management Commentary

Eric Offenberger, CEO of Vext commented, "Despite sustained pressure on the consumer and ongoing market-specific challenges in Arizona, Vext continued to perform better than the market during Q4, and completed initiatives that will prepare it for growth in Ohio as that market transitions to adult-use in 2024. During the year, we enhanced our balance sheet flexibility, positioned our Arizona operations strongly for long-term profitability, and built-out our footprint in Ohio, exiting the year with a Tier 1 cultivation operation, manufacturing operations, one consolidated dispensary, one additional dispensary that closed in Q1 2024, and two more dispensaries slated to close by the end of 2024."

"We view Ohio as a big contributor for Vext, beginning in 2024. As the transition to adult-use cannabis accelerates, Ohio is estimated to become a $4 billion market by 20283. We are fully vertically-integrated in the state, and expect to capture a meaningful share of the market early-on, which we anticipate will lead to meaningful growth in revenue, profitability, and cash flow in the coming years," added Mr. Offenberger.

Summary of Recent Announcements

• On December 15, 2023, the Company announced the election of two new directors of the Company, including one additional independent director.
• On December 27, 2023, Vext announced a $4.6 million debt conversion transaction. On March 6, 2024, the Company closed this transaction.
• On January 16, 2024, the Company announced that Jason Thai Nguyen has transitioned out of his executive positions with the Company, including resigning from all positions with the Company's subsidiaries and affiliates. Mr. Nguyen will continue to serve the Company through his position as a director of the Company.
• On March 1, 2024, Vext announced that it had completed the acquisition of a cannabis dispensary in Columbus, Ohio as part of the previously disclosed acquisition of Appalachian Pharm Processing, LLC and related entities. The Company received regulatory approval from the Ohio Department of Commerce to transfer ownership of the Columbus Dispensary to Vext on February 2, 2024.On April 8, 2024, Vext completed the acquisition of real property associated with a cannabis dispensary in Athens, Ohio as part of the previously disclosed Ohio Expansion Transaction for an aggregate consideration of $2.6 million.

Update on MCTO

As previously disclosed, the Company had applied to the British Columbia Securities Commission (the "BCSC") for a management cease trade order (the "MCTO") in connection with the delayed filing of the Company's annual financial statements for the year ended December 31, 2023, the related management's discussion and analysis and officer certifications (collectively, the "Annual Filings"). On May 2, 2024, the BCSC granted the MCTO. As a result of the filing of the Annual Filings, the Company expects that the MCTO will be revoked and that the Company's Chief Executive Officer and Chief Financial Officer will be permitted to trade securities of the Company.

Q4 and Fiscal 2023 Financial Results Conference Call

Vext will host a conference call and webcast on Friday, May 10, 2024, at 1:00 p.m. ET to discuss its fourth quarter and full year 2023 financial results.

Date: May 10, 2024 | Time: 1:00pm ETParticipant Dial-in: +1-647-484-8814 or 1-844-763-8274Replay Dial-in: +1-604-674-8052 or 1-855-669-9658Conference ID: 10023409Playback #: 0865 (Expires on May 23, 2024)Listen to webcast: https://www.gowebcasting.com/13320

For more details, visit Vext's investor website or contact the IR team at investors@vextscience.com. Non-IFRS Financial Measures

About VEXT Science, Inc.

Vext Science, Inc. is a U.S.-based cannabis operator with vertical operations in Arizona and Ohio. Vext's expertise spans from cultivation through to retail operations in its key markets. Based out of Arizona, Vext owns and operates state-of-the-art cultivation facilities, fully built-out manufacturing facilities as well as dispensaries in both Arizona and Ohio. The Company manufactures Vapen(TM), one of the leading THC concentrates, edibles, and distillate cartridge brands in Arizona. Its selection of award-winning products are created with Vext's in-house, high-quality flower and distributed across Arizona and Ohio, as well as through Vext's partnerships in other states. Vext's leadership team brings a proven track record of building and operating profitable multi-state operations, with the Company having operated profitably since 2016. The Company's primary focus is to continue growing in its core states of Arizona and Ohio, bringing together cutting-edge science, manufacturing, and marketing to provide a reliable and valuable customer experience while generating shareholder value.

Vext Science, Inc. is listed on the Canadian Securities Exchange under the symbol VEXT and trades on the OTCQX market under the symbol VEXTF. Learn more at www.vextscience.com and connect with Vext on Twitter/X and LinkedIn.

We seek Safe Harbor.

We seek Safe Harbor.