Mr. George Archos reports

VERANO ANNOUNCES APPOINTMENT OF JOHN TIPTON AND CHARLES MUELLER TO BOARD OF DIRECTORS

Verano Holdings Corp. has appointed John Tipton, president of the southern region, and Charles Mueller to its board of directors in conjunction with the retirement of Mike Smullen.

"We are pleased to welcome John and Charles as the newest members of the Verano board of directors and thank Mike for his years of service to the organization," said George Archos, Verano founder and chief executive officer. "John has built an impressive operation in Florida and has been an incredible contributor to the company, while Charles brings a deep tax and accounting background, including over 35 years at PepsiCo, that nicely complements the board's skill set. The board looks forward to working alongside John and Charles in supporting the continued growth of the organization and providing high-quality products and exceptional hospitality for our growing patient and consumer base."

Following Mr. Smullen's resignation from the board on July 19, 2023, the board approved a proposal to increase in size from four to five members, with Mr. Tipton and Mr. Mueller filling the two vacancies. Mr. Smullen's resignation is solely related to his desire to retire and is not the result of any disagreement between Mr. Smullen and the company, its management, the board or any committee of the board, or with respect to any matter relating to the company's operations, policies and practices.

Mr. Tipton served as president of the company from February, 2021, until June, 2023, when he was named president of the southern region. Beginning in 1997, he served as chief executive officer of plants of Ruskin LLC, which became a subsidiary of the company upon its acquisition in February, 2021, and the company's sizable entrance into the attractive Florida market. Mr. Tipton's acumen in accounting, finance, agriculture and construction developed through his experience as founder and chief executive officer of plants of Ruskin has been directly applied in his officer positions with the company.

Since 2021, Mr. Mueller has provided independent corporate tax consulting services to Tropicana Products Inc. and Cresa Partners Boston Inc. From 1985 to 2021, he served in increasingly senior tax roles at PepsiCo, including as vice-president, state and local tax, of the PepsiCo corporate division. In these roles, Mr. Mueller was responsible for all tax planning, accounting, compliance, audit, Sarbanes-Oxley Act compliance and controversy management arising at the state and local levels. Prior to his service with PepsiCo, Mr. Mueller served as a tax professional at a number of institutions, including Avon Products Inc., SCM Corp. and Intercontinental Hotels Corp. Mr. Mueller's extensive experience in tax matters, accounting, compliance and audit will enhance the audit committee functions and provide valuable expertise to the company.

About Verano Holdings Corp.

Verano Holdings, one of the U.S. cannabis industry's leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multistate operator embracing a mission of saying yes to plant progress and the bold exploration of cannabis. Verano offers a superior cannabis shopping experience in medical and adult-use markets under the Zen Leaf and MUV dispensary banners and produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano, MUV, Savvy, Bits, Encore and Avexia. Verano's active operations span 13 U.S. states, comprising 14 production facilities with over one million square feet of cultivation capacity.

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