Gift of 20,000 Super Voting Shares and 1,500,000 Subordinate Voting Shares of Green Thumb Industries Inc.

Chicago, Illinois--(Newsfile Corp. - September 26, 2023) - On September 26, 2023, Benjamin Kovler, CEO and Chairman of Green Thumb Industries Inc. (the "Issuer") (CSE: GTII) (OTCQX: GTBIF), in accordance with the terms of a marital settlement agreement, gifted 20,000 Super Voting Shares and 1,500,000 Subordinate Voting Shares of the Issuer to his former spouse. Neither Mr. Kovler nor, to Mr. Kovler's knowledge, any other member of the Issuer's management team, anticipates selling any additional shares of the Issuer in connection with these transactions. To effect these transactions, Mr. Kovler converted 15,000 of his Super Voting Shares into 15,000 Multiple Voting Shares and then to 1,500,000 Subordinate Voting Shares.

Prior to the transactions, Mr. Kovler, together with his joint actors, held beneficial ownership or control or direction over 183,254 Super Voting Shares, which represented approximately 72.81% of the class, and 271,767 Subordinate Voting Shares, which represented approximately 0.13% of the class. Prior to the transactions, assuming the conversion or exercise of all vested options, warrants and Super Voting Shares that Mr. Kovler held beneficial ownership or control or direction over, Mr. Kovler held beneficial ownership or control or direction over 19,115,267 Subordinate Voting Shares, which represented 8.35% of the class (calculated on a partially diluted basis).

Following the transactions, Mr. Kovler, together with his joint actors, holds beneficial ownership or control or direction over 148,254 Super Voting Shares, which represent 62.6% of the class, and 271,767 Subordinate Voting Shares, which represent 0.13% of the class. Following the transactions, assuming the conversion or exercise of all vested options, warrants and Super Voting Shares that Mr. Kovler holds beneficial ownership or control or direction over, Mr. Kovler holds beneficial ownership or control or direction over 15,615,267 Subordinate Voting Shares, which represent 6.87% of the class (calculated on a partially diluted basis).

Each Super Voting Share carries 1,000 votes and is convertible into one Multiple Voting Share and each Multiple Voting Share carries 100 votes and is convertible into 100 Subordinate Voting Shares (each of which carries one vote).

For further information, please contact Investor Relations, Green Thumb Industries Inc., [email protected], Phone: 310-622-8257. The head office of the Issuer is 325 W Huron St, Suite 700, Chicago, Illinois, 60654.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires an early warning report to be filed on SEDAR+ (www.sedarplus.ca) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Investor Relations, Green Thumb Industries Inc., [email protected], Phone: 310-622-8257.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181925