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VERANO . Investor Presentation Geographic footprint as of 8.05.2026 Q2 2026 FINANCIALS ( CBOE CA : VRNO ) ( OTCQX : VRNO )
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WE SAY YES.
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Forward - Looking Information This presentation contains “forward - looking statements” within the meaning of the safe harbor provisions of the United States Pr ivate Securities Litigation Reform Act of 1995. Such forward - looking statements are not representative of historical facts or information or current condition but instead represent only Verano Holding Corp.’s (the ”C ompany”) beliefs regarding future events, plans, strategies, or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward - looking statements can be identif ied by the use of forward - looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “future”, “scheduled”, “estimates”, “forecasts”, “projects,” “intends”, “anticipates” or “does not a nti cipate”, or “believes”, or variations of such words and phrases, or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be ach iev ed”. Forward - looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be ma ter ially different from future events, results, performance, and achievements expressed or implied by forward - looking statements herein, including, without limitation, the risk factors described in the Company’s annual report on Form 10 - K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission at www.sec.gov . The forward - looking statements contained in this presentation are made as of the date of this presentation, and the Company do es not undertake to update any forward - looking information or forward - looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward - looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice reg arding forward - looking information and statements. Non - GAAP Financial Measures This presentation refers to certain non - GAAP measures to evaluate the performance of the Company. The terms “EBITDA,” “Adjusted EBITDA” and ”Adjusted EBITDA Margin” do not have any standardized meaning prescribed within U.S. Generally Accepted Accounting Principles (“GAAP”) and therefore may not be comparable to similar measu res presented by other companies. Accordingly, this non - U.S. GAAP financial information is intended to provide additional information and should not be considered in isolation or as a substitute for measures of perfo rma nce prepared in accordance with U.S. GAAP. The Company calculates EBITDA as net income (loss) before interest expense, income tax expense, depreciation and amortization ; A djusted EBITDA as net income (loss) before net interest expense, income tax expense, depreciation and amortization and also excludes certain one - time extraordinary items and Adjusted EBITDA Margin as net income (l oss) before net interest expense, income tax expense, depreciation and amortization and exclusion of certain one - time extraordinary items as a percentage of revenue. The calculations of the non - U.S. GAAP financial me asures used in this presentation and the reconciliations to the most comparable U.S. GAAP financial numbers are included in the tables following. Management believes that this non - U.S. GAAP financial information is useful as a supplement to comparable U.S. GAAP financial in formation because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non - GAAP information to supplement their U.S. GAAP results. Management reviews these non - U.S. GAAP financial measures on a regular basis and uses them, together with financial measures included in the Company’s financial statements, to evaluate and ma nage the performance of the Company’s operations. These measures should be evaluated only in conjunction with the comparable U.S. GAAP financial numbers reported by the Company. Safe Harbor Disclaimers Page 03
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Page 04 $218M Q2 2026 REVENUE 1,300+ ACTIVE WHOLESALE ACCOUNTS 163 OPERATING RETAIL LOCATIONS 3,800+ EMPLOYEES 14 CULTIVATION & PRODUCTION FACILITIES POWERHOUSE BUSINESS & BRANDS Footprint as of August 5, 2026.
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Page XX Page 05 Nevada, Arizona, Illinois, Michigan, Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, Florida, Connecticut, Massachusetts 13 Active States 89 Million American adult population within active geographic footprint 1 OUR EXPANSIVE FOOTPRINT 1 Total Adult Use Population Size per BDSA data. Footprint as of August 5, 2026. Planned expansion subject to final state approvals.
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Page 06 JAMES LEVENTIS CHIEF STRATEGY & COMPLIANCE OFFICER RICH TARAPCHAK CHIEF FINANCIAL OFFICER LAURA KALESNIK CHIEF LEGAL OFFICER, GENERAL COUNSEL AND SECRETARY TRIP MCDERMOTT CHIEF OPERATING OFFICER AARON MILES CHIEF INVESTMENT OFFICER DAVID SPRECKMAN CHIEF MARKETING OFFICER JOSH HEINE CORPORATE CONTROLLER EXPERIENCED LEADERSHIP GEORGE ARCHOS CHAIRMAN CHIEF EXECUTIVE OFFICER George Archos is the founder, Chairman and Chief Executive Officer of Verano. He entered the cannabis industry in 2014 when he was the first in Illinois to receive authorization to grow medical cannabis out of 21 recipients of the state's coveted medical licenses. George's successful entrepreneurial ventures span a multitude of industries, and he is dedicated to talent development, operational quality and efficiency, entrepreneurship, and leading with integrity as one of the cannabis industry's most respected and influential leaders. A veteran of the logistics and operations sectors, he has extensive experience coordinating complex freight delivery operations and designing and operating successful restaurants. Leveraging his devotion to quality and a unique results - oriented approach, he has overseen the development of some of the cannabis industry's most successful operations and trusted portfolio of powerhouse brands including Savvy , (the) Essence , Swift Lifts , HYPHEN , Encore , BITS , Avexia , MÜV , CTPharma , and Verano .
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Page 07 Our entrepreneurial background in both business innovation and hospitality serves as the foundation for our key growth pillars. Balanced Sales Approach 02 01 Integrated: Seed - To - Sale Strong Growth Platform 04 Diversified House of Brands 03 Experienced Leadership Team 05 THE VERANO DIFFERENCE
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committ STRATEGIC SEED - TO - SALE PROCESS Cultivation, manufacturing, distribution and retail leverage leading - edge automation and extensive R&D capabilities. Curate vast strain library of 160+ proprietary strains 1 01 Cultivate our premium flower in - house 02 Unwavering commitment to quality 03 Produce, package, and distribute our premium products 04 Page 08 1 As of June 30, 2026
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RETAIL OPERATIONS
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Page 10 Zen Leaf aspires to be one of the most influential cannabis retail brands, and to garner brand loyalty from a myriad of cannabis consumers as it continues expanding. Zen Leaf offers guests an extensive portfolio of award - winning products from brands including Savvy , (the) Essence , Swift Lifts , HYPHEN , Encore , BITS , Avexia , MÜV , CTPharma , and Verano . 77 ZEN LEAF LOCATIONS
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Page 11 MÜV is a medical cannabis retailer in the Florida region currently serving patients at 86 state - of - the - art dispensaries. MÜV provides what we believe to be one of the widest selections of concentrates for patients seeking micro - dosing options, as well as an expansive suite of products spanning a variety of categories and in - house brands including MÜV, Verano, (the) Essence, Savvy, Encore, Avexia , and Sweet Supply. MÜV dispensaries offer a welcoming environment with knowledgeable and friendly teams who are dedicated to addressing the needs of medical patients. 86 MÜV LOCATIONS
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Page XX Targeting stable M&A partners and strong EBITDA multiples A PROVEN ACQUIRER STRONG M&A HISTORY Page 12 1 Includes assets acquired in Arizona and Virginia.
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WHOLESALE
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NATIONAL DISTRIBUTION AT SCALE From premium flower and vapes to best - selling edibles and concentrates, our products move — and move fast. Our reach, scale, and brand diversity make us a go - to partner in every major market we operate. #4 RANK IN NATIONAL MARKET SHARE 1 1,300+ RETAIL PARTNERS 10+ DISTINCT BRANDS 1 Source: Hoodie Analytics Q2 2026. Measuring all Verano house brands as of June 30, 2026. Page 14
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GOOD BETTER BEST WELLNESS RECREATION Page 15 BRAND PORTFOLIO STRATEGY Our brand architecture is intentionally designed to serve a broad spectrum of consumers, from value - seekers to connoisseurs. This good - better - best framework allows us to flex across price tiers and product categories, driving velocity at every level of the shelf. With national reach and distinct positioning, each brand plays a defined role in capturing market share and consumer loyalty. Top 3 Market Share Positions across all major product categories 1 1Source: Hoodie Analytics Q2 2026.
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HOUSE OF BRANDS Well diversified product portfolio including flower, pre - rolls, topicals, discount brands, vapes, concentrates and edibles of varying potency
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Our namesake brand, Verano offers a curated collection of coveted genetics - covering classic fan - favorites, the latest trends, and proprietary strains that are cross - bred and pheno - hunted in - house. The vast genetic offering expands into several marquee product lines including premium whole bud flower, pre - rolls, live vapes and concentrates. Page 17
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Page 18 Embrace the possibilities of every moment through (the) Essence. Whether you’re looking to unwind after a long day; to soothe or sleep; to get active or creative; all are best done with a present mind. Our genetics are carefully selected, bred and pheno - hunted to deliver a spectrum of experiences, each intended to enrich the everyday.
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Page 19 Savvy is the street - smart bud for the sharpest in the game. A heavy - hitting selection of good flower, vapes, and edibles, served in a range of large formats that won’t break the bank.
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Page 20 One sleek oil system that empowers choice through simplicity. With adaptive hardware, intuitive software, and collaborative design, HYPHEN makes vaping seamless and personal.
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Page 21 Swift Lifts are made for real life, the quick step out, the deep breath between meetings, the quiet wind - down at the end of the day. Perfectly portioned pre - rolls for all of life’s layovers.
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Page 22 Bits are the everyday edible that encourages doing - without overdoing it. Bits offers six delicious flavors formulated with cannabinoids and a dash of adaptogens to add just a little bit more to life's activities.
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Page 23 Like a song that takes you back, Encore Edibles are all timeless hits. Finding comfort in the familiar, these terpene - enriched treats come in classic flavor profiles, reminiscent of your old - school favorites.
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Page 24 On The Rocks is a cannabis collection defined by solventless extraction methods that date back thousands of years. Dry sift and ice water capture the essence of flower by collecting its cannabinoid - and terpene - rich trichomes. These trichomes are then refined in small batches and hand - crafted to extract the purest expression of the plant. No solvents or embellishments...it's cannabis, On The Rocks.
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Page 25 Avexia , meaning "wellness" in Greek, offers products made to effortlessly enhance any self - care routine. Carefully formulated with cannabinoids and other natural ingredients, Avexia harnesses the power of the elements to deliver the ultimate dose of relief in a range of topicals, tablets, tinctures and RSO.
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Q2 2026 FINANCIAL REVIEW
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Q2 2026 FINANCIAL RESULTS 1 Focus on generating further efficiencies and cost - saving measures. $217,918 Gross Profit $99,699 Income from Operations $3,143 Net Loss $(13,411) Revenue 1 Amounts reported in thousands. 2 Adjusted EBITDA and Adjusted EBITDA Margin are non - U.S. GAAP financials measures and are further defined in this presentation in the section titled "Non - GAAP Financial Measures" 1 1 Page 27 Adjusted EBITDA 2 $51,231 Adjusted EBITDA Margin 2 24% Net Loss Margin (6%)
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Cash $85,195 Total Debt $392,612 Total Assets $1,699,243 Total Liabilities $1,024,530 BALANCE SHEET 1 Page 28 1 As of 6/30/26
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Page 28 Verano Redomiciles from British Columbia, Canada to the U.S. State of Nevada STRATEGIC INITIATIVES IN ADVANCE OF GROWTH Verano Begins Trading on the Canadian Securities Exchange Under the Ticker “VRNO” OCTOBER 2023 Verano Commences Trading on Cboe Canada MAY 2024 Justice Department Recommends Rescheduling from Schedule I to III NOVEMBER 2025 JUNE 2026 Verano Completes 1 - for - 5 Reverse Stock Split, Advancing the Path Towards Prospective U.S. Stock Exchange Listing Verano Holdings Shares Approved to Trade on OTC Markets Under the Symbol VRNOF, Gaining Exposure to U.S. Capital Markets APRIL 2021 DECEMBER 2025 President Trump Signs Executive Order Expanding Cannabis Research MAY 2026 Medical Cannabis is Rescheduled from Schedule I to Schedule III Verano Submits DEA Registration Applications for State - Licensed Medical Cannabis Businesses FEBRUARY 2021 APRIL 2026 Verano Announces $20 Million Share Repurchase Authorization Page 29
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SHARE REPURCHASE AUTHORIZATION STRATEGIC RATIONALE PROGRAM DETAILS CONSECUTIVE QUARTERS OF REVENUE GROWTH ANTICIPATED CASH FLOW INCREASE BENEFITS OF MEDICAL CANNABIS RESCHEDULING AUTHORIZATION SIZE Up to 5 % of the issued and outstanding shares at time of authorization, subject to a $20 million cap. PROGRAM DURATION 12 - month authorization with quarterly board review . $ 2 0M REPURCHASE AUTHORIZATION UP TO 3,323,818 REMAINING FOR REPURCHASE 12 MONTHS PROGRAM DURATION, ENDING APRIL 30, 2027 On any given day, Verano may not purchase more than 25% of the average daily trading volume of its Shares and is subject to o the r limitations set forth by Cboe Canada and Rule 10b - 18 under the Securities Exchange Act of 1934. Page 30 320,000 IN Q2 2026 SHARES REPURCHASED
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THANK YOU Email Investors@Verano.com Website Investors.Verano.com
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FINANCIAL APPENDIX
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