Grown Rogue International (GRIN) Company presentation summary

Operating legacy and market presence

• Ten-year track record built on quality, consistency, and culture, with roots in Southern Oregon and expansion into Michigan, New Jersey, Minnesota, and Illinois.

• Proven ability to replicate performance and maintain durable quality control and cost efficiencies across facilities and markets.

• Facilities include indoor and outdoor canopy in five states, with significant expansion underway in Minnesota and Illinois.

Financial performance and metrics

• Q1 2026 revenue reached $9.2M, up 28% year-over-year, with adjusted EBITDA of $1.6M and a net cash position of $1.0M.

• New Jersey operations contributed $2.5M in revenue and $1.5M in adjusted EBITDA in Q1 2026.

• LTM revenue as of March 31, 2026, was $34.4M, with LTM adjusted EBITDA of $5.8M.

Industry landscape and regulatory environment

• Cannabis remains federally illegal in the U.S., with state-by-state regulations and no interstate commerce.

• Recent federal rescheduling reforms for medical cannabis may reduce tax friction and improve cash flow for qualifying operators.

• The total U.S. cannabis market is estimated at $75B for 2025, with $31.6B in regulated sales and $43.1B in illicit sales.