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Building America's Largest Cannabis Company

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Building America's Largest Cannabis Company BUILDING AMERICA’S LARGEST CANNABIS COMPANY APRIL 2019 DISCLAIMER This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward- looking statements, including but not limited to those risks discussed under "Risk Factors" in the company’s CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco’s shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this presentation speaks as of the date hereof. The distribution of this presentation does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this presentation or otherwise. 2 KEY TRENDS IMPACTING THE U.S. CANNABIS MARKET 1. 2. 3. 4. 5. 6. 7. U.S. cannabis Evolution and Rapidly market is Greater Retail will Scale & Regulatory blurring of changing becoming expectations become population complexity consumer consumer EVEN more of the industry ubiquitous reach needs perceptions attractive $80 Billion Regulated Full Spectrum 62% of Americans Demand for More States The Key to by 2030 State-by-State from Medical to Support Product will Issue Retail Winning is Access Health & Wellness Legalization Consistency, Licenses to Retail Shelves $24 Billion to Play & Quality and Profit Recreation Availability 3 SUMMARY COMPANY INFORMATION* 2013 22 $5.5B YEAR FOUNDED OPERATING RETAIL LOCATIONS MARKET CAP ($CAD) 1,100+ 56 $16.3M EMPLOYEES RETAIL LICENSES 3Q18 PROFORMA REVENUE 11 725+ $5.3M STATES DISPENSARIES 3Q18 ADJ EBITDA WITH OUR PRODUCTS 151M / 70% 56+ $35.1M US ADDRESSABLE MARKET / % BRANDS Q3 YTD PROFORMA REVENUE 23 500+ 388% PRODUCTION FACILITIES PRODUCTS IN YOY REVENUE GROWTH PRODUCTION 1.8M 5,000+ $8.1M TOTAL FACILTIY SQUARE SKU'S IN PRODUCTION Q3 YTD ADJ FOOTAGE EBITDA * Management estimates and subject to closing pending transactions in CA, NY, MA, MD & FL. 4 Market cap as of March 29, 2019 – Includes the potential impact from the recently announced4 Origin House acquisition DECADES OF EXPERIENCE WITHIN OUR MANAGEMENT TEAM 5 CRESCO LABS IS ONE OF THE LARGEST, VERTICALLY INTEGRATED, MULTI-STATE OPERATORS Current Market Capitalization1 $CAD Curaleaf $5,763 Cresco Labs + OH $5,535 Harvest $4,902 #2 CULTIVATE & BRANDS & PRODUCTS By Market MANUFACTURE GTI $3,388 Capitalization Acreage $3,202 Trulieve $1,935 MedMen $1,791 iAnthus $1,595 WHOLESALE RETAIL GGB $869 DISTRIBUTION Note: As of close April 12, 2019. Adjusted for subsequent events from most recent filings Source: Company Filings, Capital IQ, Bloomberg, Public Disclosure, as at March 29, 2019 6 OUR CORE ADVANTAGE CULTIVATION & PRODUCTION BRANDED PRODUCTS . Germination . Brands . Seeding . Distinctive messaging Capabilities to . Vegetation . Custom . Flowering Packaging Drive Long-Term . Extraction . Proprietary Production Value though . Customer data . Consumer & patient reach . Competitive insights . Category performance insights Vertical Integration . Test & Learn platform . Trade marketing & across States programming OWNED RETAIL WHOLESALE/DISTRIBUTION 7 WE EXECUTE 1. We win competitive Unmatched success 2. We acquire to enter Acquire assets to drive licenses to open in competitive states existing markets growth and footprint new markets Achieve 100% Operational faster 3. We get to 4. We establish penetration and than competitors market faster dominant positions dominant market share 8 BRANDS AND RETAIL PARTNERSHIPS = FUTURE GROWTH With cultivation becoming a commodity, our long-term focus is on brands and retail partnerships BEER COFFEE TOBACCO CPG APPROACH TO BRAND BUILDING 9 CURRENT CONSUMER LANDSCAPE AND PORTFOLIO OVERALL MARKET CRESCOLABS BRANDS Wellness/ Lifestyle Holistic Regular Medicine Lifestyle Fun, Fruity, Less Chocolate Forward Expensive Higher Quality Medicinal Connoisseur RULE #1: KNOW YOUR AUDIENCE 10 BRAND ETHOS: with familiar formats and precise delivery systems, BRAND ETHOS: Cresco elevates everyday cannabis. High quality. True remedi products provide a safe, consistent and trusted alternative to consistency. Remarkable value. Cresco is cannabis you can count on traditional medicines. that delivers consistent cannabis products every time. 11 BRAND ETHOS: fans of RESERVE are highly selective and turn to BRAND ETHOS: high quality desserts with no cannabis flavor, created RESERVE for a luxury experience in cannabis. They are knowledgeable by the acclaimed pastry chef, Mindy Segal about cultivation and lineage, extraction and hardware. RESERVE delivers a superior cannabis experience for those who are looking for truly top shelf cannabis BRAND ETHOS: Fun, fruity confections for everyday enjoyability and effectiveness 12 HOUSE OF BRANDS TO PLAY ACROSS SEGMENTS Alternative for exiting Promoting holistic health and Enhancing recreational prescription products wellness occasions HEAL WELLNESS PLAY BEST BETTER PRICE POINT GOOD CONSUMER NEEDS 13 *Owned, invested in and distributed brands, includes the potential impact from the recently announced Origin House acquisition WHOLESALE & DISTRIBUTION Wholesale gives our products greater reach • One-stop-shop for dispensaries drives footprint growth • Sales team drives sales growth • Consumer insight drives product improvement 14 ACCESSING FLORIDA’S 200K PATIENTS • One of the largest vertically-integrated providers of medical cannabis in Florida • Able to open 35 dispensaries. Currently operates 8 dispensaries with plans to have 14 by the end of June 2019, expecting 20 by the end of 2019 • 95% of the population of Florida is within 50 miles of a VidaCann dispensary • Cultivation facility with a state-of-the-art cGMP-certified processing and analytical lab • 70,000 ft2 cultivation and processing facility scheduled to double by the end of 2019 15 LAUNCHING IN MICHIGAN – THE 10th LARGEST STATE IN THE COUNTRY Michigan Market Overview One of the largest medical cannabis markets in the country • Nearly 300K registered medical cannabis patients • Steadily moving towards adult-use implementation (anticipated January 2020) • $869M market size in 2018 projected to $1.4B by 20221 Cresco Michigan Expansion • Cleared pre-qualification regulatory hurdle on March 25, 2019 • Retrofitting existing 100K+ square foot cultivation and processing facility • 2 dispensary applications pending, 4 more anticipated Planned cultivation and production facility – • Focus on increasing retail presence Marshall, MI 16 1. Based on Arcview Market Research/BDS Analytics WE WILL WIN CALIFORNIA, THE MOST INFLUENTIAL CANNABIS MARKET IN THE WORLD State Revenue Projections $7.7 Billion by 2022 Source: Arcview Market Research/BDS Analytics • 684,000 sq. ft. of cultivation • 600 Dispensaries in distribution network, 60% penetration • 11 Processing and distribution facilities • We will be the leading multi-state operator in California, with a team and asset base that has a proven track record and ample room to grow • We will be the largest distributor in California, with more access to consumer data and retail storefronts than any other player in the industry • We will fill our dominant distribution pipeline with California brands, driving national and global opportunities as well as sustained competitive advantages 17 ORIGIN HOUSE ACQUISITION: CREATING A NORTH AMERICAN POWERHOUSE Bolsters Increased Strong & Leading Expanded Scale & Expanding Position in Distribution Capital + Multi-State California Infrastructure Markets Presence Combining Cresco’s scale, expertise Market Presence and brand portfolio Superior Increased One of a Kind with Existing Retail Strong North Brand and Pro-Forma American Acceleration Distribution Cash Position Origin House’s proven track record Footprint Platform Model of leveraging their California-wide distribution footprint
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