News Release Details

Innovative Formulations Combine THC with Special Cannabinoids for Enhanced Experiences

MORRISTOWN, N.J., Oct. 17, 2024 /PRNewswire/ - Ascend Wellness Holdings (AWH), ("AWH" or the "Company") (CSE: AAWH-U.CN) (OTCQX: AAWH), a leading multi-state, vertically integrated cannabis operator, is excited to announce the launch of its new edibles-only brand, Effin'. Designed to meet the growing demand for targeted cannabis experiences, Effin' focuses on delivering specific effects through expertly formulated combinations of THC and minor cannabinoids like THCV, CBN, CBG, and CBD.

The Effin' line launches with four initial SKUs, each crafted to deliver a unique experience:

• Effin' Chillin': 10 mg THC to 10 mg CBD—Perfect for those times when you need to unwind and find your calm. Infused with our Relaxing Razz flavor, Effin' Chillin' helps you kick back and decompress.
• Effin' Sleep: 10 mg THC to 5 mg CBN—Designed for a restful night's sleep, this formula combines THC with CBN to help you wind down and catch those Z's. Say goodnight with Effin' Sleep and wake up feeling refreshed.
• Effin' Hang: 20 mg CBG to 10 mg THC—A balanced formulation that pairs the energizing effects of CBG with THC for a versatile experience that helps you tackle the day.
• Effin' Do It: 10 mg THC to 10 mg THCV—Crafted for those moments when you need an extra boost of motivation, Effin' Do It combines THC with THCV to give you the clarity and focus you need to seize the moment.

Effin' made its debut in Massachusetts and Illinois in early October, with a New Jersey launch planned for the end of October 2024. With Effin', consumers can expect consistent, reliable effects from each dose. "We went mad scientist to create these unique formulations, because we know our customers want more than just edibles—they want products that deliver specific effects tailored to their needs," said David Gacom, Chief Commercial Officer at AWH.

The launch of Effin' marks a new chapter in AWH's commitment to bringing innovative and high-quality products to the market. With a focus on leveraging the benefits of minor cannabinoids like CBG, THCV, CBN, and CBD, the Effin' brand aims to provide customers with precisely what they're looking for—an experience they can count on.

For more information about Ascend, visit www.awholdings.com.

About Ascend Wellness Holdings, Inc.

AWH is a vertically integrated operator with assets in Illinois, Maryland, Massachusetts, Michigan, Ohio, New Jersey, and Pennsylvania.  AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Royale, and Effin' branded products. For more information, visit www.awholdings.com.

Cautionary Note Regarding Forward-Looking Information

This news release includes forward-looking information and statements, which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking information and statements. Without limiting the generality of the preceding statement, this news release contains forward-looking information and statements concerning the Company's current projections and expectations about future events and financial trends and the timely receipt of all required regulatory approvals.  We caution investors that any such forward-looking information and statements are based on certain assumptions and analysis made by the Company in light of the experience of the Company and its perception of historical trends, current conditions and expected future developments, and other factors management believes are appropriate.

Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others, the risks and uncertainties identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's other reports and filings with the applicable Canadian securities regulators on its profile on SEDAR+ at www.sedarplus.ca and with the SEC on its profile on EDGAR at www.sec.gov. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information or statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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SOURCE Ascend Wellness Holdings, Inc.

EVP, Investor Relations & Strategy, Rebecca Koar, IR@awholdings.com, (617) 453-4042 ext. 90102