GREEN THUMB INDUSTRIES Business Summary

Green Thumb Industries Inc. (GTII) is a leading vertically integrated cannabis consumer packaged goods (CPG) company and retailer that generates revenue through a dual-channel model of retail sales and wholesale distribution. The company operates two primary business segments: Retail, which manages a national chain of over 100 RISE™ dispensaries, and Consumer Packaged Goods, which manufactures and distributes a diverse portfolio of branded products including RYTHM, Dogwalkers, incredibles, and Beboe. As of early 2026, Green Thumb maintains a robust operational footprint across 14 U.S. markets with 20 manufacturing facilities, distinguishing itself through a disciplined capital allocation strategy that has resulted in industry-leading profitability and positive cash flow. Within the competitive landscape of multi-state operators (MSOs), Green Thumb competes directly with Curaleaf Holdings, Trulieve Cannabis Corp., Verano Holdings, and Cresco Labs, positioning itself as the premier institutional-grade operator focused on sustainable margins rather than purely aggressive geographic expansion. The company was founded in 2014 by Benjamin Kovler, who serves as Chairman and Chief Executive Officer and maintains significant voting control through a multi-class share structure. The executive leadership team includes President Anthony Georgiadis, who oversees operational and financial matters and brings a background in private equity and M&A, and Chief Financial Officer Matt Faulkner, who was promoted to the role in 2023. Other key executives include General Counsel Bret Kravitz and Chief Administrative Officer Rachel Albert. The Board of Directors features notable industry and financial experts such as Hannah Ross (Partner at Beehouse LLC), Dawn Wilson Barnes (Founder of Aurora Bay Capital), and Richard Reisin. Notable institutional backing includes positions from Thompson Investment Management and various specialized cannabis funds, reflecting strong investor confidence in the team's ability to navigate the complex federal and state regulatory environments.