Trulieve Cannabis (TRUL) Investor presentation summary

U.S. cannabis industry overview

• Legal U.S. cannabis market projected to reach $43 billion by 2030, with 46 states having some form of cannabis program and 24 states allowing adult use.

• The U.S. is a global leader in cannabis culture, product development, and trends.

Company position and operations

• Largest U.S. medical marijuana operator with 207 DEA-registered dispensaries and 3.5 million sq. ft. of cultivation and processing capacity.

• Listed on NYSE in June 2026 after restructuring and deconsolidation of mixed-use markets.

• Strong customer retention (78%) and 1.1 million rewards members as of June 2026.

• Scaled operations in Florida and Pennsylvania, with organic growth in Georgia and Texas.

Regulatory and structural developments

• Federal rescheduling of medical marijuana to Schedule III in April 2026, removing punitive 280E tax burden.

• Corporate restructuring separated medical-only operations from mixed-use markets, facilitating NYSE listing.

• DEA registration for all state-licensed medical marijuana facilities.