Mr. Aaron Miles reports

VERANO COMPLETES 1-FOR-5 REVERSE STOCK SPLIT, ADVANCING THE COMPANY'S PATH TOWARDS PROSPECTIVE U.S. STOCK EXCHANGE LISTING

The one-for-five reverse stock split of Verano Holdings Corp.'s common stock, which was previously announced on June 1, 2026, has been completed, effective today, June 11, 2026. In addition, the company filed a certificate of change with the state of Nevada on June 2, 2026, effective today, June 11, 2026, to reduce the number of authorized shares of common stock from five billion to one billion in the company's articles of incorporation.

The reverse stock split builds on prior initiatives the company has undertaken to position ahead of growth and U.S. capital markets opportunities, including completing the redomiciling of Verano Holdings Corp. from British Columbia, Canada, to the U.S. state of Nevada in November, 2025, as the company pursues uplisting on a U.S. exchange in the future. The reverse stock split also may provide additional benefits, including increasing institutional investor interest and access to the company's stock.

The company has not issued fractional post-reverse-stock-split shares of common stock in connection with the reverse stock split. Stockholders who would otherwise have held a fractional share of the company's common stock following the reverse stock split should expect to receive a cash payment in lieu thereof at a price equal to that fractional share to which the stockholder would otherwise be entitled -- multiplied by the closing sale price of the common stock on Cboe Canada, as adjusted for the reverse stock split -- on the trading day preceding today's June 11, 2026, effective date.

As of June 10, 2026, the company had 367,690,781 shares of common stock issued prior to the reverse stock split, resulting in the number of issued shares of common stock following the reverse stock split being approximately 73,918,135 shares (subject to adjustment for the rounding of fractional shares). The company's common stock continues to trade on Cboe Canada under the existing trading symbol VRNO and will trade on the OTCQX under the trading symbol VRNOD for the next 20 business days to indicate the reverse stock split. After 20 business days, the symbol will be changed back to VRNO on the OTCQX.

In connection with the consolidation, the company's normal course issuer bid announced in the bulletin dated April 30, 2026, will be amended such that up to 3,643,858 common shares may be repurchased thereunder.

The exercise or conversion price of any of the company's outstanding stock options or restricted stock units and, in accordance with approval of the company's board of directors, the number of shares of common stock underlying the awards have been rounded down to the nearest full share and any other securities convertible into shares of common stock have been proportionately adjusted to reflect the reverse stock split in accordance with the respective terms thereof.

Odyssey Trust Company, the company's transfer agent, acted as the exchange agent in connection with the reverse stock split. Stockholders with shares in brokerage accounts should direct any questions concerning the reverse stock split to their brokers; all stockholders of record may direct questions to Odyssey.

About Verano Holdings Corp.

Verano, 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 and produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands, including Savvy, (the) Essence, Swift Lifts, Hyphen, Encore, Bits, Avexia, MUV, CTPharma and Verano. Verano's active operations span 13 U.S. states, comprising 14 production facilities with over 1.1 million square feet of cultivation capacity.

We seek Safe Harbor.