Mr. George Archos reports

VERANO ANNOUNCES AGREEMENT TO UPSIZE REVOLVING CREDIT FACILITY COMMITMENT TO $100,000,000 AND EXTEND MATURITY DATE

Verano Holdings Corp. has made an amendment to its existing $75-million revolving credit facility agented by Chicago Atlantic Admin LLC, initially entered into on Sept. 30, 2025.

The revolving credit facility commitment was increased from $75-million to $100-million and the maturity date was extended from Sept. 29, 2028, to Feb. 28, 2029. No additional collateral was pledged by the company to secure the increased borrowing availability, which is secured by certain owned real estate.

"Building on our ongoing strategy to strengthen our balance sheet, we're pleased to upsize our borrowing availability and extend the maturity of our existing revolving credit facility," said George Archos, chief executive officer of Verano. "These improvements to our revolving credit facility provide us added flexibility to deploy capital without pledging any additional collateral, marking a strategic step forward while we continue advancing debt refinancing discussions."

Peter Sack, managing partner of Chicago Atlantic, noted, "We are pleased to support Verano's growth and the optimization of its balance sheet with innovative solutions."

The increased revolving credit facility provides Verano a range of benefits, including access to lower cost debt, payoff and redraw flexibility, and optionality to have certain real estate released as collateral. Details of the revolving credit facility are as follows:

• To date, $50-million has been drawn under the revolving credit facility, leaving an additional $50-million available to draw upon satisfaction of certain conditions;
• A floating annual interest rate on amounts drawn equal to SOFR (secured overnight financing rate) plus 6 per cent (subject to a 4-per-cent SOFR floor);
• No required amortization payments;
• Matures on Feb. 28, 2029, allowing for repayment at any time in $2.5-million increments, subject to an interest-only make-whole if repaid before the six-month anniversary of the applicable financing;
• The proportionate release of real estate so long as the outstanding principal balance under the revolving credit facility does not exceed 80 per cent of the appraised value of the remaining pledged real estate.

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 provides a superior cannabis shopping experience in medical and adult-use markets under the Zen Leaf and MUV dispensary banners. Verano produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands, including Verano, (the) Essence, MUV, Savvy, Bits, Encore and Avexia. Verano's active operations span 13 U.S. states, comprising 15 production facilities with over 1.1 million square feet of cultivation capacity.

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