Jushi Holdings (CSE: JUSH) (OTCQX: JUSHF) - Investor Dashboard

Summary

Financials (03/31/22)

Capital Structure (03/31/22)

Company Brief

Jushi Holdings Inc. (Follow Company) is a vertically integrated multi-state cannabis operator across the United States. The vertically integrated company operates a diverse portfolio of branded cannabis assets, built upon opportunistic acquisitions, distressed deals and competitive applications.

Operating under the Jushi umbrella is the BEYOND / HELLO™  and Nature’s Remedy of Massachusetts, Inc. retail brands of cannabis dispensaries. The Company debuted a comprehensive suite of cannabis brands across multiple states including its award-winning brand, The Lab which offers vape products and concentrates and the award-winning brand, The Bank offering pre-packaged flower and infused blunts. The Company also introduced the following new products: Tasteology for edibles, Nira + Medicinals for THC and CBD-rich medical products, and Sèchè for fine flower and pre-rolls to address a wide variety of consumer needs. Jushi strives to maximize shareholder value while delivering high premium products across all levels of the cannabis ecosystem.

 Investor Update: March 2022

Highlights

• Raised roughly $461 million since inception
• Approximately $47 million contributed by Founders/Insiders
• Cannabis assets in PA, IL, VA, MA, CA, NV and OH
• 33 stores open,  approximately 50 planned by YE 2022¹, six cultivation facilities and six extraction and processing facilities
• Q4 2022 revenue on an annualized basis to be between $340 to $380 million and Adjusted EBITDA to be between $60 to $80 million
• Brand portfolio including The Bank, The Lab, Tasteology, Sèchè, Nira+ and Nira

1. Targets based on ongoing applications and potential M&A, and not based on new disclosures or undisclosed purchases

Growth Strategy

• Building a multi-state portfolio of branded cannabis assets through acquisitions, competitive licenses, and expansion within current markets
• Built out its Pennsylvania retail footprint to 18 dispensaries and leveraging its closed acquisition of a Pennsylvania Grower-Processor to supply the wholesale market including its own retail stores
• Operating four adult-use stores plus Jushi’s partner was awarded a conditional retail dispensary license in Illinois
• Owning one of five licenses in Virginia with the anticipation of adding five additional BEYOND/HELLO™ branded medical dispensaries to its Dalitso LLC operations near Prince William County, which became operational in December 2020
• Operating two high-performing retail dispensaries, along with a 50,000 square-foot cultivation and production facility in Massachusetts
• Targeting acquisition opportunities in limited licenses markets to become vertically integrated in markets with high barriers of entry
• Applying for de novo licenses for additional avenues of growth in its existing markets and other key markets
• Plans to increase dispensary count to ~50 by the end of 2022¹
• Increasing its offerings of branded product lines
• Secured $100 million credit facility to fund acquisitions

Differentiators

• Industry-leading organic revenue
• Integrated, metrics-driven business with seamless integration between online and retail
• Best-in-class M&A track record
• Experienced management team with proven track record of allocating and raising capital and identifying distressed assets
• Focused portfolio of assets targeted at high-growth medical (PA,VA, OH) and adult-use markets (IL, NV, CA, MA)
• Solid balance sheet; expansion plans fully funded
• Early focus on environmental, social and governance (ESG) principles

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