MARIMED INC.

We are a multi-state cannabis operator (MSO) in the United States, headquartered in Norwood, Massachusetts. We develop, own, and manage state-licensed, regulatory-compliant facilities for the cultivation, production, and dispensing of medicinal and adult-use cannabis, operating on a seed-to-sale model. We create and develop our own brands of premium cannabis flower, concentrates, edibles, and other precision-dosed products using our proprietary strains and formulations. We also license our proprietary brands in select domestic markets, though these revenues are not material to our overall results. Our operations comply with applicable state and local laws and regulations in the jurisdictions where we operate, as cannabis remains illegal under United States federal law. We entered the cannabis industry as an advisory and real estate management firm, procuring state-issued cannabis licenses for clients, developing facilities leased to them, and providing expertise. In 2018, we transitioned to a direct owner and operator of cannabis licenses, primarily in Eastern and Midwestern states. This involved acquiring and consolidating clients for whom we had secured licenses, developed facilities, funded operations, and provided guidance. By early 2025, we had substantially completed these acquisitions and integrations. Our operations expanded through additional M&A activity, making us one of the larger MSOs in the U.S. based on reported annual revenue. We have consistently created our own brands of craft-quality cannabis flower, concentrates, edibles, and other precision-dosed products.