Green Thumb Industries Inc.

Green Thumb Industries Inc. manufactures and distributes cannabis consumer packaged goods and operates retail cannabis stores. Founded in 2014, the company began operations in 2015 after receiving a medical marijuana license in Illinois. Green Thumb has expanded its operations to fourteen U.S. markets: California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Virginia. The company's Consumer Packaged Goods business manufactures and distributes cannabis brands such as &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, and RYTHM. These products are sold to third-party retail stores and Green Thumb's own retail stores across the United States. The Retail business involves owning and operating retail cannabis stores, including the national chain RISE Dispensaries and other retail stores. These stores sell both Green Thumb's products and products from third parties. Through its subsidiaries, the company holds state licenses for medical and/or adult-use cannabis businesses in the fourteen U.S. markets mentioned. The company's organizational structure, as of December 31, 2025, reflects state licensing requirements that mandate maintaining the corporate identity of operating license holders.