Jushi (JUSH) Investor presentation summary

Strategic and operational highlights

• Completed $160M non-dilutive debt refinancing in March 2026, enhancing financial flexibility and avoiding equity dilution.

• Benefited from medical cannabis rescheduling to Schedule III, eliminating Section 280E tax for qualifying operations and improving financials.

• Submitted DEA registration applications under the new federal Schedule III framework, positioning for federal market participation.

• Virginia passed adult-use cannabis legislation, with sales expected to start July 1, 2027, offering significant growth potential.

• Redomiciled from British Columbia to Nevada, aligning corporate structure with U.S. operations and enhancing capital market access.

Market presence and performance

• Operates 42 stores across 8 states, with vertical integration in key markets and 323k sq. ft. of cultivation/processing space.

• LTM Q2 2026 revenue reached ~$272M, with adjusted EBITDA of ~$51M and 1,226 employees as of June 30, 2026.

• Key markets include Pennsylvania (18 dispensaries), Virginia (6), Ohio (7), Massachusetts (2), Nevada (3), Illinois (4), New Jersey (1), and California (1).

• Virginia, Pennsylvania, and Ohio identified as top priority markets for capital allocation and expansion.

Growth priorities and expansion plans

• Virginia: Preparing for adult-use launch in July 2027, expanding cultivation, adding extraction capabilities, and planning a new warehouse.

• Pennsylvania: Phased cultivation expansion and store relocations to prepare for potential adult-use sales.

• Ohio: Focused on retail expansion and increasing vertical integration to drive margins, with canopy expansion and potential warehouse build-out.

• Capital expenditures for 2026 expected to be $10M–$13M, supporting targeted initiatives and select retail build-outs.