Cresco Labs (CL) Registration Filing summary

Company overview and business model

• Operates as a vertically integrated, multi-state cannabis operator in the U.S., licensed to cultivate, manufacture, and sell retail and medical cannabis products through its Sunnyside® dispensary brand and wholesale channels.

• Employs a consumer-packaged goods approach with a portfolio of recognized brands targeting diverse consumer segments.

• Focuses on building a leading distribution platform and retail experience, leveraging proprietary e-commerce and assortment strategies.

• Derives all revenues from U.S. cannabis operations, which are legal at the state level but remain illegal under U.S. federal law.

Financial performance and metrics

• As of September 30, 2025, 340,337,989 Subordinate Voting Shares, 83,172 Proportionate Voting Shares (convertible to 16,634,416 Subordinate Voting Shares), 500,000 Super Voting Shares, and 158,940,757 Special Subordinate Voting Shares (convertible to 1,589 Subordinate Voting Shares) were outstanding.

• On August 13, 2025, refinanced its senior secured credit facility with a new US$325 million term loan at 12.5% interest, maturing in 2030, replacing a prior US$360 million facility and reducing total debt.

Use of proceeds and capital allocation

• Net proceeds from any offering, proposed use, and specific business objectives will be detailed in the applicable Prospectus Supplement.

• Proceeds from the recent credit facility refinancing were used to repay the existing term loan, with enhanced flexibility to prepay up to US$125 million at a reduced premium.