Mr. Jared Stanley reports

CBD INDUSTRY LEADER CHARLOTTE'S WEB JOINS HISTORIC ALLIANCE ONE HEMP TO SUPPORT FDA REGULATION

Charlotte's Web Holdings Inc. has provided an update on its founding membership in One Hemp, a coalition comprising top CBD (cannabidiol) industry stakeholders to support Congress and the U.S. Food and Drug Administration (FDA) through a science and data-backed approach to arrive at sensible dietary supplement regulation.

"As leaders in the hemp-based CBD market that prioritize science, safety and responsible commerce, we stand united with One Hemp to bring clarity and stability to the marketplace. The time for the CBD industry and Congress to act is long overdue," said Jared Stanley, co-founder and chief operating officer of Charlotte's Web. "A decade has passed since hemp-based CBD became a wellness choice for more than 45 million daily American CBD consumers. Over these 10 years, rigorous scientific research, innovation, safety and toxicology studies, current good manufacturing practices, labelling standards, and valuable consumer feedback have demonstrated the self-regulation that responsible CBD suppliers have implemented to scaffold an entirely new industry."

Mr. Stanley continued: "Today, the uncertainty faced by thousands of companies and American farmers, coupled with the confusion for millions of CBD consumers, is unacceptable. It is time for Congress to clarify the FDA's mandate and definitively regulate CBD products as dietary supplements -- once and for all."

One Hemp unites leading CBD industry stakeholders in a pivotal moment to work toward more stringent regulatory standards, including independent third party testing and accurate labelling. One Hemp took a milestone step by submitting to congressional leaders comprehensive new insights and safety studies in response to a request for information from the House and Senate committees of jurisdiction. One Hemp is confident that the time for federal CBD policy reform has arrived during this congressional session and is fully prepared to be the leading subject matter resource for bipartisan action to support Congress and collaborate with the FDA. Charlotte's Web and One Hemp invite CBD industry partners that seek the regulatory standards that consumers deserve to join this historic coalition.

Playing a prominent role in One Hemp's consolidation of relevant scientific data presented to Congress was Dr. Marcel Bonn-Miller, PhD, chief scientific officer at Charlotte's Web and a prominent cannabinoid scientist. Most recently, Dr. Bonn-Miller was part of a research team under the leadership of Dr. Rayetta G. Henderson, PhD, senior managing scientist at ToxStrategies LLC, that conducted a landmark study to derive potential upper oral intake limits for safe CBD usage by consumers. Upon critical review of all publicly available human and animal studies of CBD that assessed safety, a recommended upper intake limit of 70 milligrams per day was determined for healthy adults and a limit of up to 160 milligrams per day was identified for healthy adults, excluding those trying to conceive or currently pregnant or lactating. Healthy adults were defined in this study as those without medical conditions or taking medications. This study was specifically designed to address concerns regarding potential liver and reproductive toxicity (such as those raised by FDA) and appropriate dietary supplement thresholds for CBD safety.

Dr. Henderson presented the study's findings during an informal legislative meeting and pointed out: "The study's suggested upper intake limits for dietary supplement use by healthy adults not only closely correspond with the recommendations put forth by leading regulatory bodies (Health Canada, TGA [Therapeutic Goods Administration], FSA [Food Standards Agency]), they provide a sufficient margin of safety for potential adverse effects and help to establish a safe framework for CBD consumption."

Dr. Bonn-Miller said: "This study will help to inform legislators and regulators as they determine manufacturing and labelling requirements for supplement products containing CBD. Implementing scientifically based safety limits is crucial to protecting consumers. This research is also aligned with One Hemp's recommendations for accurate product labelling and, ultimately, holding CBD companies accountable for manufacturing and selling quality and safe products."

About Charlotte's Web Holdings Inc.

Charlotte's Web Holdings, a certified B corporation headquartered in Louisville, Colo., is the market leader in innovative hemp extract wellness products under a family of brands that includes Charlotte's Web, ReCreate, CBD Medic and CBD Clinic. Charlotte's Web whole-plant CBD extracts come in full-spectrum and broad-spectrum options, including ReCreate by Charlotte's Web, broad-spectrum CBD certified NSF for Sport. ReCreate is the official CBD of Major League Baseball, Angel City Football Club and the Premier Lacrosse League. Charlotte's Web branded premium-quality products start with proprietary hemp genetics that are North American farm grown using organic and regenerative cultivation practices. The company's hemp extracts have naturally occurring botanical compounds, including CBD, CBC (cannabichromene), CBG (cannabigerol), terpenes, flavonoids and other beneficial compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products), CBD gummies, CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs. Through its substantially vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency with analytic testing from soil to shelf for quality assurance. Charlotte's Web products are distributed to retailers and health care practitioners throughout the United States and on-line through the company's website.

About One Hemp

One Hemp's founding mission is to demand regulatory standards by Congress and the FDA that treat CBD products as dietary supplements and serve as a leading scientific resource to policymakers to ensure consumer safety and consistency. One Hemp is an industry working group comprising leading voices and CBD market leaders. The group has enlisted some of the world's foremost cannabinoid researchers and toxicologists, ensuring that its approach is firmly rooted in robust scientific research and a deep understanding of CBD's safety profile. One Hemp aims to set industry benchmarks, nurturing trust and innovation in the CBD sector.

Industry leaders that have joined One Hemp include (among others) Charlotte's Web, Kazmira and OBX (alphabetical order). Taken together, these leaders represent the largest providers of CBD products.

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