MANAGEMENTPRESENTATION MARCH 2019 DISCLAIMER

2 01 Industry Macro Trends

02 Our Company Today’s agenda 03 Our Brands

04 Q318 Financials

3 THE OPPORTUNITY U.S. CANNABIS MARKET IS BECOMING EVEN MORE ATTRACTIVE

Cannabis will become a top

consumer category by 2030 3 $196B

$80 Billion1 BY 2030

$114B Billion U.S. Dollars BillionU.S. $102B

$80B $75B $71B $57B $51B $24 Billion2 $30B PROFIT Frozen Alcohol General Food Cannabis Home Care Health Refridgerated Beverages Beauty

1. COWEN CANNABIS ESTIMATE JANUARY 2019 2. INTERNAL ESTIMATE 4 3. STATISTA 2017 RETAIL $ VOLUME AND COWEN CANNABIS ESTIMATE JANUARY 2019 KEY MACRO TRENDS

REGULATION ACCESS EXPECTATIONS

Increased regulation Ubiquitous retail Evolving consumer needs Increased complexity 9 new states in 2019 Greater industry expectations

BDI STATES TO WATCH IN 2019 5 Our mission is to normalize and professionalize cannabis

6 THE CRESCO LABS ADVANTAGE CAPABILITIES TO DRIVE LONG-TERM VALUE

Highly Effective Scale Selling House of Rapid Innovation Top-Tier Execution System Brands Capabilities Management Team

WHAT WE DO HOW WE DO IT 7 HIGHLY EFFECTIVE EXECUTION

1. We win competitive UNMATCHED SUCCESS IN 3. We get to OPERATIONAL FASTER licenses to open COMPETITIVE STATES market THAN COMPETITORS new markets faster

ACHIEVE 100% PENETRATION 2. We acquire ACQUIRE ASSETS TO DRIVE 4. We establish AND DOMINANT MARKET GROWTH AND FOOTPRINT to enter dominant SHARE existing markets positions

8 ONE OF THE LARGEST OPERATORS IN THE U.S.

Summary Company Information 1

1. MANAGEMENT ESTIMATES AND SUBJECT TO CLOSING PENDING TRANSACTIONS IN NY, MA & MD 2. MARKET CAP AS OF FEBRUARY 28, 2019 9 DECADES OF EXPERIENCE WITHIN OUR MANAGEMENT TEAM

Charles Bachtell Joe Caltabiano Ken Amann David Ellis Zach Marburger CEO & COFOUNDER PRESIDENT & COFOUNDER CFO COO CIO

Scott Wilson Jason Erkes Jennifer Clark Emily Fitzgerald John Schetz CXO CCO EVP OPERATIONS DIRECTOR HUMAN RESOURCES GENERAL COUNSEL

10 DIVERSITY OF TOP-TIER EXPERIENCES ACROSS THE TEAM

11 WE ARE BUILDING SCALE ACROSS THE U.S.

+120 Million RESIDENTS

+866 Million TOURISTS

CURRENT OPERATIONS/LICENSED MINDY’S EDIBLES LICENSING IN IL, PA, OH, NV, CA, AZ AND NY, OPPORTUNITY IN OR, WA, CO, OK, MD, AND MA ARE SUBJECT SOLELY NM TO REGULATORY APPROVAL

PENDING LICENSE APPLICATION TARGETING EXPANSION IN 12 MI FL, NJ VA, CT CURRENT PRODUCTION CAPACITY

CULTVATION SQUARE FEET DRY FLOWER ANNUAL CAPACITY (LBS)

TOTAL # TOTAL FACILITY TOTAL BY TOTAL BY CURRENT EXPANSION CURRENT(5) EXPANSION(5) FACILITIES SQUARE FOOTAGE 2019 YE 2019 YE(5)

ILLINOIS (3) 3 238,000 (3) 39,000 100,000 139,000 14,190 53,170 67,360

PENNSYLVANIA (3) 1 118,000 (3) 20,000 85,000 105,000 8,250 43,312 51,563

O H I O (2) 1 77,000 (3) 25,000 25,000 50,000 9,376 9,543 18,919

CALIFORNIA (2) 3 650,000 132,000 460,000 592,000 42,408 140,284 182,692

NEVADA 1 60,000 N / A 36,000 36,000 N / A 13,578 13,578

ARIZONA (1) 2 150,000 128,000 0 128,000 34,265 0 34,265

NEW YORK (1) 1 180,000 (3) N / A 100,000 100,000 N / A 44,123 44,123

MASSACHUSETTS (1) 1 150,000 13,000 77,000 90,000 5,071 29,968 35,039

TOTAL ( 4 ) 13 1,623,000 357,000 883,000 1,240,000 113,560 333,978 447,539

1. SUBJECT TO CLOSING PENDING TRANSACTIONS. 2. LOCAL APPROVAL RECEIVED, STATE APPROVAL PENDING. 3. SUBJECT TO EXPANSION / CONSTRUCTION. 4. EXCLUDES MARYLAND PROCESSING FACILITY. 5. BASED ON MANAGEMENT ESTIMATES, SUBJECT TO CHANGE 13 OWNED RETAIL

12 current dispensary locations across 6 states

21 retail licenses 1 and counting

1 14 Includes licenses awarded for additional locations and pending transactions. CURRENT RETAIL OPERATIONS

IL PA OH NV AZ NY MA TOTAL / AVG

# STORES 5(3) 6(1) 1 1 1(3) 4(3) 3(3) 21

(2) # PATIENTS ( 4 ) 60k 80k 30k N / A 160k 75K 55K 404k

EST. 2020E 250k 250k 150k N / A 200k 250K N / A 1.1M PATIENTS

POPULATION 13M 13M 12M 3M 7M 20M 7M 75M

TOURISTS 114M 40M 43M 43M 44M 244M 28M 556M

MEDICAL Yes Yes Yes Yes Yes Yes Yes N / A

ADULT USE No No No Yes No No Yes N / A

1. REPRESENTS THE NUMBER OF AUTHORIZED POTENTIAL LOCATIONS. 2. MANAGEMENT EXPECTATIONS OF 2019 PATIENT COUNT. 3. SUBJECT TO CLOSING PENDING TRANSACTIONS. 4. MANAGEMENT ESTIMATE BASED ON AVAILABLE STATE DATA 15 ATTRACTIVE RETAIL PERFORMANCE

Average Revenue Per Square Foot

$6,500 (1) $5,546 (2) $2,951 (2) $2,951 (2)

1) CRESCO LABS INTERNAL UNAUDITED ANALYSIS 2) COSTAR RETAIL ANALYSIS JULY 2017 16 We have taken a CPG approach to building brands

17 CURRENT CONSUMER LANDSCAPE AND PORTFOLIO

OVERALL MARKET CRESCOLABS BRANDS

CRESCO WELLNESS/ LIFESTYLE

TRUST RELIABLE

HOLISTIC REGULAR MEDICINE LIFESTYLE RELIEF REW ARD

MEDICINAL CONNOISSEUR REMEDI RESERVE

18 • BRAND ETHOS: WITH FAMILIAR FORMATS AND PRECISE DELIVERY SYSTEMS, REMEDI PRODUCTS PROVIDE A SAFE, CONSISTENT AND TRUSTED ALTERNATIVE TO TRADITIONAL MEDICINES. • AUDIENCE: REMEDI WAS DESIGNED AS A REPLACEMENT OPTION FOR TRADITIONAL MEDICATION TO SUPPORT THE CONSUMER BASE THAT NEEDS IT’S CANNABIS TO BE DISCREET, EASILY IDENTIFIABLE, AND PRECISELY DOSED. • PRODUCTPILLARS: -CBD-FORWARD, NON-COMBUSTIBLE -TRADITIONAL MEDICINE DOSING FORMATS -PACKAGING IS DESIGNED TO LOOK LIKE TRADITIONAL MEDICINE

APPROX. PERCENTAGE OF SALES: 15%

19 RISE REFRESH REST

• BRAND ETHOS : CRESCO ELEVATES EVERYDAY CANNABIS. HIGH QUALITY. TRUE CONSISTENCY. REMARKABLE VALUE. CRESCO IS CANNABIS YOU CAN COUNT ON THAT DELIVERS CONSISTENT CANNABIS PRODUCTS EVERY TIME. • AUDIENCE: CRESCO PRODUCTS ARE IDEAL FOR PEOPLE WHO LOVE TRADITIONAL CANNABIS FORMATS. THIS IS THE CANNABIS BRAND FOR THE STARBUCKS CUSTOMER — ABOVE AVERAGE QUALITY BUT STILL ACCESSIBLE TO EVERYONE. • PRODUCT PILLARS: -THC-FOCUSED,EVERYDAYCANNABIS -PROPRIETARY COLOR CODED FOR EASE OF USE -ALWAYSINSTOCK,EVERYTIME

APPROX. PERCENTAGE OF SALES: 55%

20 • BRAND ETHOS: CONNOISSEUR-QUALITY CANNABIS DEMANDS HIGHER EXPECTATIONS FROM CONSUMER AND CULTIVATOR ALIKE. FOCUSED ON EXCLUSIVE GENETICS, CULTIVATION TECHNIQUE & ATTENTION TO DETAIL, RESERVE IS MORE THAN CANNABIS - IT’S A LIFESTYLE. • AUDIENCE: FANS OF RESERVE ARE HIGHLY SELECTIVE AND TURN TO RESERVE FOR A LUXURY EXPERIENCE IN CANNABIS. THEY ARE KNOWLEDGEABLE ABOUT CULTIVATION AND LINEAGE, EXTRACTION AND HARDWARE. RESERVE DELIVERS A SUPERIOR CANNABIS EXPERIENCE FOR THOSE WHO ARE LOOKING FOR TRULY TOP SHELF CANNABIS. • PRODUCTPILLARS: -HAND-SELECTEDSTRAINS&PROPRIETARYGENETICS -CONNOISSEURCONCENTRATES&VAPEPENS -TERPENE-RICH,THCFORWARDPRODUCTS APPROX. PERCENTAGE OF SALES: 15% • BRAND ETHOS: HIGH QUALITY DESSERTS WITH NO CANNABIS FLAVOR, • BRAND ETHOS: FUN, FRUITY CONFECTIONS FOR EVERYDAY CREATED BY THE ACCLAIMED PASTRY CHEF, MINDY SEGAL ENJOYABILITY AND EFFECTIVENESS • AUDIENCE: LOVERS OF DECADENT, CHOCOLATE-FORWARD, EDIBLE • AUDIENCE: CONSUMERS THAT WANT A FUN AND APPROACHABLE TREAT FORMS OF CANNABIS, WHO WILL PAY A PREMIUM FOR SUPERIOR FROM A HIGH QUALITY PRODUCER PRODUCTS • PRODUCTPILLARS: • PRODUCTPILLARS: -INFUSED WITH WINTERIZED SATIVA, INDICA AND HYBRID OILS -INFUSED WITH ODORLESS, FLAVORLESS DISTILLATE -FUN, FRUITY FLAVORS -DECADENT DESSERTS INSPIRED BY MINDY’S RESTAURANTS -GREAT QUALITY AND CONSISTENCY AT AN ACCESSIBLE PRICE POINT -EXCELLENT GIFT OR REPLACEMENT FOR WINE AT DINNER PARTIES 22 • Approx. Percentage of Sales: 10% • Approx. Percentage of Sales: 5% MARKETING STRATEGY

Awareness & Education In-Store Experience Outreach

• Awareness and education via out of home, social • A multi-brand product suite caters to unique • Key influencers help Cresco brands reach wider media, and other channels equip consumers with consumer needs and buyer profiles. audiences via social media and exclusive events. functional knowledge of the science and utility of • Packaging designed to feature proprietary, benefit- • The nation-wide industry brand ambassador club offers cannabis. forward communication is informative and intuitive. behind-the-scenes product access and release events. • Industry programming via patient help centers, • Collateral, merchandising materials, sales • Dedicated customer service teams funnel product physician CME events, and robust informational promotions, public marketing, and retail partner feedback to quality assurance and other key functions. materials educate patients and the public. management all contribute to the sales funnel.

23 WE DRIVE WHOLESALE DISTRIBUTION EFFECTIVENESS

100% +28%(1) MARKET PENETRATION MARKET SHARE

100% +30%(2) MARKET PENETRATION MARKET SHARE

100% TBD MARKET PENETRATION MARKET SHARE

(1) BASED ON DATA PROVIDED BY THE STATE OF (2) BASED ON DATA OBTAINED DIRECTLY FROM PA DISPENSARIES 24 OUR CAPABILITIES ALLOW US TO INNOVATE, LEARN, AND SCALE RAPIDLY

RETAIL DESIGN & TEST & SCALE INSIGHTS DEVELOP VALIDATE

Consumer Awareness New Brands & Formats New Product/Brand Multi-states Access Trials Trend Forecasting Technology Marketing Awareness Evaluation and Consumer Behaviors Intellectual Property Improvements Continued Consumer and Patient Feedback

25 SUSTAINABLE FINANCIAL PERFORMANCE Q3 & YTD 2018 FINANCIAL RESULTS

PROFORMA REVENUE NET INCOME ADJ. EBITDA

Q3 2018 $16.3M $3.9M $5.3M THREE MONTHS ENDED 9/30/18

+335% YOY UP COMPARED TO A NET UP COMPARED TO ADJUSTED LOSS OF $0.2M IN Q3 2017 EBITDA OF $0.1M IN Q3 2017

PROFORMA REVENUE NET INCOME ADJ. EBITDA YTD 2018 NINE MONTHS ENDED 9/30/18 $35.1M $6.5M $8.1M

+248% YOY UP COMPARED TO A NET UP COMPARED TO ADJUSTED LOSS OF $0.9M IN YTD 2017 EBITDA OF -$0.8M IN YTD 2017

NOTE: EBITDA IS A NON-IFRS MEASURE. PLEASE REFER TO INVESTORS.CRESCOLABS.COM FOR THE DEFINITION 26 RECENT BUSINESS DEVELOPMENTS

• On December 6th, 2018, Cresco Labs announced a definitive agreement to acquire 100% membership interests of Hope Heal Health, based in with licences for cultivation, processing, and the ability to obtain up to three medical marijuana dispensary licenses and three adult-use dispensary licenses. • On December 7th, 2018 Cresco Labs announced three new marketing appointments to accelerate the aspiration to become the leading brand builder within the cannabis industry, those hires include: Greg Butler as CMO, former Vice President of Growth Strategy and Marketing for MillerCoors, Cory Rothchild as Vice President of Brand Marketing, former Vice President and Brand Director for Gatorade, and Chis Rivera as Vice President of Marketing, formerly of Senior Director of MillerCoors Craft division. • On December 12th, 2018 Cresco Labs announced that Co-founder and CEO, Charles Bachtell, was appointed to the Cannabis Legalization Subcommittee of Illinois Governor- elect JB Pritzker’s transition team to lead the efforts for adult use legalization. • On December 12th, 2018, Cresco Labs announced that it had been granted the first approval to operate a marijuana dispensary in the state of . • On December 19th, 2018, Cresco Labs announced that it had been awarded a second merit-based license for dispensary operations in which allows us to open three additional dispensary locations. • On December 20th, 2018, Cresco Labs announced that it had signed dual definitive agreements to acquire licensed Illinois dispensaries MedMar Rockford and MedMar Lakeview bringing our total number of dispensaries in Illinois to five. • On January 16th, 2019, Cresco Labs announced that it had made the first legal sale of medical marijuana in the state of Ohio. • On January 28th, 2019, Cresco Labs announced that it had appointed Dun & Bradstreet CEO Tom Manning as Chairman of its Board of Directors. Mr. Manning has been a member of Cresco Labs' board since 2016 and was formerly the CEO of Cerberus Capital Asia, Capgemini Asia, and Ernst & Young Consulting Asia and was also a senior partner at Bain & Company. • On January 30, 2019, Cresco Labs opened a manufacturing facility and two dispensaries in the state of . • On February 1, 2019, the IL program implemented the Alternative to Opioids Act which removed finger printing, background checks and provides same day access for patients. • On February 5, 2019, Cresco Labs announced that its Mindy’s Kitchen brand has been ranked the top selling edible in according to Headset. • On February 25, 2019, Cresco Labs announced the formation of a new hemp CBD subsidiary, Well Beings, that will provide the Company the ability to expand its house of branded products to all 50 states to potentially reach a new customer base outside of the licensed dispensary channel. • On February 26, Cresco Labs announced the opening of a third Pittsburgh area dispensary and launched online ordering in Western Pennsylvania. • As of February 28th, 2019, Cresco Labs stock is up over 50% from the launch price. 27 THANK YOU