Glass House Brands Reports Second Quarter 2026 Financial Results

• Second quarter results include record biomass production of 246,000 pounds and cost of production of $122 per pound, significant quarter-over-quarter improvements
• Company completed deconsolidation of its dual-use California business and celebrates uplisting to NYSE
• Reaffirms full year 2026 wholesale cannabis biomass production forecast of approximately 1 million pounds
• Conference Call to be held today August 13, 2026, at 5:00 p.m. ET
  
  

LONG BEACH, Calif. and TORONTO, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Glass House Brands Inc. (“Glass House” or the “Company”) (CBOE CA: GLAS.A.U) (NYSE: GLAS), one of the fastest-growing cannabis companies in the U.S., today reported financial results for the second quarter ended June 30, 2026.

As a result of the Company’s previously announced deconsolidation of Glass House Retail, LLC (“GHR”) effective June 12, 2026, the historical operating results of GHR through June 11, 2026, together with the loss recognized upon deconsolidation of GHR on June 12, 2026, are presented as discontinued operations for all periods presented. Prior-period results of operations have been retrospectively recast to conform to the current-period presentation. Beginning June 12, 2026, the Company’s share of GHR’s post-deconsolidation income or loss is recognized under the equity method and included in continuing operations. Unless otherwise noted, the results of operations discussed in this earnings release, including the non-GAAP financial measures presented herein, reflect the Company’s continuing operations and exclude amounts classified as discontinued operations.

Second Quarter 2026 Highlights

(Unaudited results, unless otherwise stated, all results and dollar references are in U.S. dollars)

• Revenue was $47.0 million, compared to $47.6 million in Q2 last year and $28.6 million in the first quarter 2026.
• Gross Profit Margin of 34%, compared to 55% in second quarter 2025 and 14% in first quarter 2026.
• Adjusted EBITDA1 was positive $5.7 million, compared to positive $18.1 million in second quarter 2025 and negative $(4.2) million in first quarter 2026.
• Operating Cash Flow of positive $0.2 million, compared to $17.7 million in second quarter 2025 and negative $(11.8) million in first quarter 2026.
• Equivalent Dry Pound Production2 was 245,746 pounds, compared to 230,748 in second quarter 2025 and 151,531 in first quarter 2026.
• Cost per Equivalent Dry Pound of Production3 of $122 per pound, compared to $91 per pound in second quarter 2025 and $175 per pound in first quarter 2026.
• Cash, Restricted Cash and Cash Equivalents balance was $22.1 million at June 30, 2026, compared to $20.7 million at the end of first quarter 2026.
  
  

Management Commentary

“In light of April’s rescheduling of medical cannabis, we made significant changes to the business, our licenses and operating structure including registering our cultivation and processing licenses with the DEA, and converting each of our cultivation and processing licenses to medical,” said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House. “We are confident that medical cannabis rescheduling is sufficient to support interstate commerce between companies with appropriately registered DEA licenses and export to international medical cannabis markets.”

“We completed a deconsolidation transaction whereby we fully separated our retail operations. Now, our remaining business is fully medically licensed and Schedule III compliant.”

“Our second quarter results reflect our retail deconsolidation and meaningful progress in returning to more fully efficient operations at our farms. We produced 246,000 pounds of biomass in the quarter, a record level and ahead of both our guidance and our production last year. Our cost of production for the quarter was $122 per pound. The cost of production reflects significant improvement from the $175 per pound we reported last quarter.”

“As we look forward, we expect to see a further scaling of production for the second half of 2026 as we start to see a full contribution from Greenhouse Two at the end of this quarter. We remain on track to produce 1 million pounds of biomass this year and to end 2026 with a production run rate of over 1.1 million pounds.”

“Longer term, our outlook remains unchanged. Our $95 cost of production target remains achievable as with our operating model, we will never have to pay the high energy bills of indoor peers, nor do we rely on third-party water supply. It is these benefits that have sustained us despite challenging California cannabis market conditions and makes us an ideal supply partner for operators in other markets which rely heavily on indoor growth. We also look forward to entering new markets and product categories, which will further expand our growth trajectory.”

Second Quarter 2026 Operational Highlights and Subsequent Events

• Glass House Brands Announces California Retail Joint Venture with Vireo Growth
• Glass House Brands Announces Application for DEA Registration of Certain Medical Operations
• Glass House Brands Announces the Filing of Prospectus Supplement for Previously Announced At-The-Market Distribution Program
• Glass House Brands Completes Previously Announced Warrant Redemption
• Glass House Brands Announces the Filing of Shelf Prospectus and At-The-Market Distribution Program
• Glass House Brands Announces its Deconsolidation of its Dual-Use Business and its Application for Uplisting of Shares to NYSE
• Glass House Brands Announces Voting Results Following Annual Meeting
• Glass House Brands Provides Notice of Warrant Acceleration
• Glass House Brands Announces Uplist to NYSE
• Glass House Brands Completes First International Hemp Sale
• Glass House Brands Announces the Filing of an Updated At-The-Market Distribution Program
• Glass House Brands Retains Former DEA Compliance Executive to Advise on Interstate Commerce and Export Opportunities
  
  

Q2 2026 Financial Results Discussion

Revenues for second quarter 2026 were $47.0 million, compared to $28.6 million in first quarter 2026 and $47.6 million in second quarter 2025, excluding retail revenue. Retail revenue through the date of deconsolidation was $9.9 million for the second quarter of 2026.

The wholesale biomass segment revenue was $41.7 million, accounting for 89% of total revenue. Biomass production reached 245,746 pounds during Q2 2026, compared to 151,531 in the first quarter 2026 and 230,748 in the prior year period.

Wholesale CPG segment revenues were $5.3 million, representing a 14% sequential increase and (4)% year-over-year decrease.

Consolidated gross profit for the second quarter was $15.8 million, compared to $26.1 million for Q2 last year and $4.1 million in first quarter 2026. Gross margin was 34%, compared to 55% in the prior year period and 14% in the first quarter of 2026. The underperformance was attributable to the higher proportion of trim within the production mix and higher cost of production. Retail gross margin through the date of deconsolidation was approximately 50% for the quarter.

Average selling price was $211 per pound, compared to $206 in the second quarter of 2025 as California pricing conditions continue to show signs of improvement.

General and administrative expenses were $13.4 million for the second quarter of 2026, compared to $10.2 million last year and $12.2 million in the first quarter.

Sales and marketing expenses were $0.4 million, compared to $0.3 million during the same period last year and $0.1 million in the prior quarter.

Professional fees were $1.6 million in Q2, compared to $2.9 million in Q1 2026 and $2.0 million in Q2 2025.

Depreciation and amortization in Q2 2026 were $3.4 million, compared to $3.5 million in Q1 2026 and $3.4 million in Q2 2025.

Adjusted EBITDA was positive $5.7 million in Q2 2026, compared to positive $18.1 million in the second quarter 2025 and negative $(4.2) million in Q1 2026. Adjusted EBITDA results reflect the factors that impacted gross margin performance as well as a modest increase in cash operating expenses.

Operating cash flow was positive $0.2 million, compared to positive $17.7 million in the year-ago period and negative $(11.8) million in Q1 2026.

As of June 30, 2026, the Company had $22.1 million of cash and restricted cash, compared to $20.7 million at the start of the second quarter. The Company spent $2.1 million in capex in the second quarter, which was mostly for Phase III expansion at Camarillo. The Company also paid $2.9 million in preferred stock dividend payments.

Warrant Redemption and Acceleration

The Company delivered a notice of redemption, dated April 28, 2026, with respect to the warrants (the “Warrants”) outstanding under the warrant agency agreement, dated May 13, 2019, between the Company and Odyssey Trust Company, as amended (the “Warrant Agency Agreement”). The Warrants were redeemed on May 28, 2026 (the “Redemption Date”) in accordance with Section 3.4 (1) of the Warrant Agency Agreement at a redemption price of .011826 Shares per Warrant (the “Redemption Shares”). If the Company had not taken any action, the outstanding Warrants would have expired on June 29, 2026.

In June, the Company provided notice that it has elected to exercise its rights under the terms of a warrant indenture dated August 31, 2022 (the “2022 Warrant Indenture”) governing certain share purchase warrants of the Company (the “Series B and C Warrants”) and a warrant indenture dated August 23, 2023 (the “2023 Warrant Indenture”), governing certain share purchase warrants of the Company (the “Series D Warrants”) to accelerate the expiry date of such warrants.

For further information, please refer to the Company’s news releases dated April 28, 2026, May 29, 2026 and June 23, 2026.

Financial results and analyses will be available on the Company’s website on the ‘Investors’ and ‘News & Events’ drop-down menus (www.glasshousebrands.com) and SEDAR+ (www.sedarplus.ca).

Unaudited results, unless otherwise stated, all results are in U.S. dollars.

 Net Income / Loss(in thousands)Q2 2025 Q1 2026 Q2 2026Revenues, Net$47,605  $28,610  $47,017 Cost of Goods Sold 21,535   24,559   31,249 Gross Profit 26,070   4,051   15,768 % of Net Revenue 55%  14%  34%      Operating Expenses:     General and Administrative 10,150   12,165   13,388 Sales and Marketing 321   96   357 Professional Fees 1,965   2,865   1,581 Depreciation and Amortization 3,353   3,480   3,438 Total Operating Expenses 15,789   18,606   18,764 Income (Loss) from Operations 10,281   (14,555)  (2,996)Interest Expense 1,882   1,270   628 Loss on Change in Fair Value of Contingent Liabilities and Shares Payable 95   —   — Other Income, Net (3,657)  (1,621)  (2,115)Total Other Income, Net (1,680)  (351)  (1,487)Income Taxes 4,159   2,980   3,062 Net Income (Loss) from Continuing Operations 7,802   (17,184)  (4,571)Net Income (Loss) from Discontinued Operations 942   178   (2,112)Net Income (Loss)$8,744  $(17,006) $(6,683)            

 Adjusted EBITDA(in thousands)Q2 2025 Q1 2026 Q2 2026Net Income (Loss) (GAAP)$8,744  $(17,006) $(6,683)Depreciation and Amortization 3,905   4,022   3,797 Interest, Net 1,919   1,295   643 Income Tax Expense 4,969   3,058   3,119 EBITDA (Non-GAAP) 19,537   (8,631)  876 Adjustments:     Share-Based Compensation 2,944   4,523   4,214 Stock Appreciation Rights Expense 37   (5)  — Equity in (Income) Loss on Equity Method Investees (44)  —   (665)Loss on Deconsolidation of GHR —   —   2,490 Change in Fair Value of Derivative Asset and Liability 328   (409)  (595)Impairment Expense for Intangible Assets —   —   170 Change in Fair Value of Contingent Liabilities and Shares Payable 95   —   — Employee Retention Tax Credits (4,750)  —   (666)Non-Recurring Legal and Professional Fees —   349   (135)Adjusted EBITDA(Non-GAAP)$18,147  $(4,173) $5,689             

The selected cash flow information includes the cash flows of the retail business through June 11, 2026 and have not been separately presented between continuing and discontinued operations.

 Select Cash Flow Information(in thousands)Q2 2025 Q1 2026 Q2 2026Net Income (Loss)$8,744  $(17,006) $(6,683)Depreciation and Amortization 3,905   4,022   3,795 Share-Based Compensation 2,944   4,523   4,214 Impairment Expense for Intangibles —   —   170 Loss on Change in Fair Value of Contingent Liabilities and Shares Payable 95   —   — Other 881   (1,911)  853 Cash From Net Income (Loss) 16,569   (10,372)  2,349 Accounts Receivable (3,248)  (2,096)  (3,700)Income Taxes Receivable 996   25   2 Prepaid Expenses and Other Current Assets (243)  1,455   (3,672)Inventory (3,987)  (5,310)  (4,165)Other Assets (96)  (14)  (26)Accounts Payable and Accrued Liabilities 4,290   1,855   6,544 Income Taxes Payable 1,290   —   1 Other 2,166   2,702   2,846 Working Capital Impact 1,168   (1,383)  (2,170)Operating Activities Cash Flow 17,737   (11,755)  179       Purchases of Property and Equipment (9,458)  (3,546)  (2,113)Other 190   800   (6,027)Investing Activities Cash Flow (9,268)  (2,746)  (8,140)      Proceeds from the Issuance of At-the-Money Shares —   22,302   4,925 Proceeds from the Issuance of Notes Payable, net —   (250)  — Payments on Notes Payable, Third Parties and Related Parties (1)  (10)  (8)Distributions to Preferred Shareholders (1,937)  (2,888)  (2,888)Other 55   (76)  59 Financing Activities Cash Flow (1,883)  19,078   2,088       Net Increase (Decrease) in Cash, Restricted Cash and Cash Equivalents 6,586   4,577   (5,873)Cash, Restricted Cash and Cash Equivalents, Beginning of Period 37,615   23,350   27,927 Cash, Restricted Cash and Cash Equivalents, End of Period$44,201  $27,927  $22,054             

 Select Balance Sheet Information
(in thousands)Q2 2025
 Q1 2026
 Q2 2026
Cash and Restricted Cash$33,939  $17,160  $18,554 Accounts Receivable, Net 9,833   6,430   10,068 Income Taxes Receivable 930   763   761 Prepaid Expenses and Other Current Assets 14,837   10,459   7,811 Inventory 17,172   29,672   34,022 Assets Associated with Discontinued Operations 9,789   9,868   — Total Current Assets 86,500   74,352   71,216 Operating and Finance Lease Right-of-Use Assets, Net 2,230   2,054   1,568 Equity Method Investments 172   —   14,490 Property, Plant and Equipment, Net 209,126   216,299   221,091 Intangible Assets, Net 672   950   919 Restricted Cash, Net of Current Portion 3,500   3,500   3,500 Other Assets 2,248   316   596 Non-Current Assets Associated with Discontinued Operations 30,113   27,882   — TOTAL ASSETS$334,561  $325,353  $313,380          Accounts Payable and Accrued Liabilities$32,130  $30,680  $38,051 Income Taxes Payable 2,440   —   — Current Portion of Operating and Finance Lease Liabilities 871   682   583 Current Portion of Notes Payable —   38   14,733 Liabilities Associated with Discontinued Operations 7,927   8,807   — Total Current Liabilities 43,368   40,207   53,367 Operating and Finance Lease Liabilities, Net of Current Portion 1,054   1,115   945 Other Non-Current Liabilities 27,937   33,625   38,528 Notes Payable, Net of Current Portion 65,613   67,818   55,408 Non-Current Liabilities Associated with Discontinued Operations 4,273   5,140   — TOTAL LIABILITIES 142,245   147,905   148,248 Preferred Equity Series B, C, D and E 91,790   92,500   92,500 Additional Paid-In Capital, Accumulated Deficit and Non-Controlling Interest 100,526   84,948   72,632 TOTAL MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY 192,316   177,448   165,132 TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY$334,561  $325,353  $313,380             

 Notes Payable and Preferred Equity(in thousands)Q4 2025 Q1 2026 Q2 2026 CommentsNotes Payable       Secured Credit Facility$50,000  $50,000  $50,000  Maturity is 2/28/302025 Lompoc Term Loan 2,990   2,980   2,971  Maturity is 8/4/35Greenhouse 2 Equipment Supplier Financing —   1,120   3,959           Series A 11,895   10,950   10,734  8% semi annual interest, cash or shares, higher of 10 day VWAP 5 trading days prior to pay date or $4.08, Maturity 4/15/27Series B 4,111   3,785   3,623  8% semi annual interest, cash or shares, lower of 10 day VWAP 5 trading days prior to pay date or $10.00, Maturity 4/15/27Plus Convertible Debt 16,006   14,735   14,357           Other (330)  (978)  (1,146) Mostly original issue discountNotes Payable Total$68,666  $67,857  $70,141           Preferred Equity       Series D$15,000  $15,000  $15,000  Currently at 15% dividend with 15% cash payment until 8/24/28 when it increases to 20% dividend with 20% cash paymentSeries E 77,500   77,500   77,500  12% dividend with 12% cash paymentPreferred Equity Total$92,500  $92,500  $92,500           Cash Payments       Debt Amortization$239  $10  $9   Cash Interest 1,226   1,134   1,137  8.58% interest rate on the Senior Secured Credit Facility, entered into on 2/28/25 and 8.5% interest rate on the 2025 Lompoc Term Loan, entered into on 8/4/25Debt Service 1,465   1,144   1,146           Series D 563   563   563  15% annual rate until 8/24/28 when it increases to 20%Series E 2,358   2,325   2,321  12% annual ratePreferred Equity Dividends 2,921   2,888   2,884           Total Debt Service and Dividends$4,386  $4,032  $4,030                 

 Equity Table(in thousands, except share price)Q2 2026
 Q1 2026
 Change CommentsTotal Equity and Exchangeable Shares 89,045   84,663   4,382  Shares issued in connection with At-the-Market program, interest and conversion of convertible debentures and exercise of RSUs, ISOs, and warrantsWarrants         Series D 1,719   2,770   (1,051) Notice of acceleration delivered during Q2 2026; All outstanding warrants were fully exercised during July 2026; Exercise price of $6.00Series C 880   1,000   (120) Notice of acceleration delivered during Q2 2026; All outstanding warrants were fully exercised during July 2026; Exercise price of $5.00Series B 4,847   8,407   (3,560) Notice of acceleration delivered during Q2 2026; All outstanding warrants were fully exercised during July 2026; Exercise price of $5.00SPAC —   30,665   (30,665) Redeemed and exercised during Q2 2026Total Warrants 7,446   42,842   (35,396)            Stock Options —   22   (22)  RSUs 3,708   4,756   (1,048) Up to 3-year vesting through 2028Total 3,708   4,778   (1,070)            Share Price at Quarter End$12.37  $8.15  $4.22             Convertible Debentures         Series A$10,734  $10,950  $(216) 8% semi annual interest, cash or shares, higher of 10 day VWAP 5 trading days prior to pay date or $4.08, Maturity 4/15/27Series B 3,623   3,785   (162) 8% semi annual interest, cash or shares, lower of 10 day VWAP 5 trading days prior to pay date or $10.00, Maturity 4/15/27Total Convertible Debentures$14,357  $14,735  $(378)  Number of Shares if Converted Assuming Share Price at Quarter End 1,305   1,981   (676)                

Revenue(in thousands)Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 FY 2024 FY 2025Wholesale CPG (B2B)$4,987  $4,747  $5,483  $4,958  $4,320  $4,637  $5,281  $17,996  $19,508 Wholesale Biomass (B2B) 36,256   28,283   42,122   21,231   22,597   23,973   41,736   139,086   114,233 Total$41,243  $33,030  $47,605  $26,189  $26,917  $28,610  $47,017  $157,082  $133,741                   Sequential % Change                 Wholesale CPG (B2B) 4% (5)%  16% (10)% (13)%  7%  14%    Wholesale Biomass (B2B)(24)% (22)%  49% (50)%  6%  6%  74%    Total(22)% (20)%  44% (45)%  3%  6%  64%                      % Change to Prior Year                 Wholesale CPG (B2B) 22%  12%  38%  4% (13)% (2)% (4)%  12%  8%Wholesale Biomass (B2B) 36%  78%  8% (56)% (38)% (15)% (1)%  32% (18)%Total 34%  64%  11% (50)% (35)% (13)% (1)%  29% (15)%                               

 Gross Profit(in thousands)Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 FY 2024 FY 2025Wholesale CPG (B2B)$1,168  $1,221  $1,949  $1,477  $818  $1,449  $582  $4,517  $5,465 Wholesale Biomass (B2B) 16,187   13,191   24,121   4,115   6,767   2,602   15,186   72,113   48,194 Total$17,355  $14,412  $26,070  $5,592  $7,585  $4,051  $15,768  $76,630  $53,659                   % of Revenue                 Wholesale CPG (B2B) 23%  26%  36%  30%  19%  31%  11%  25%  28%Wholesale Biomass (B2B) 45%  47%  57%  19%  30%  11%  36%  52%  42%Total 42%  44%  55%  21%  28%  14%  34%  49%  40%                                    

 Wholesale Biomass Production and Cost per Pound Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 FY 2024 FY 2025Equivalent Dry Pounds of Production 165,074   152,568   230,748   123,986   159,131   151,531   245,746   608,478   666,433 % Change to Prior Year 60%  149%  54% (47)% (4)% (1)%  6%  71%  10%                  Cost per Equivalent Dry Pounds of Production$110  $108  $91  $128  $129  $175  $122  $123  $111 % Change to Prior Year(9)% (41)% (39)%  24%  17%  62%  34% (10)% (10)%                  Ending Operational Canopy Licensed (000 sq. ft) 1,525   1,525   1,525   1,525   1,708   1,708   1,708   1,525   1,708                                     

 Wholesale Biomass Sold and Average Selling Price per Pound Q4 2024 Q1 2025 Q2 2025 Q3 2025
 Q4 2025
 Q1 2026
 Q2 2026 FY 2024 FY 2025Equivalent Dry Pounds Sold 164,660   146,555   204,015   137,026   154,972   140,421   197,578   568,133   642,568 % Change to Prior Year 68%  160%  48% (34)% (6)% (4)% (3)%  68%  13%Equivalent Dry Pounds Sold Average Selling Price$220  $193  $206  $155  $146  $171  $211  $245  $177 % Change to Prior Year(19)% (32)% (27)% (32)% (34)% (11)%  2% (21)% (28)%                       

Equivalent Dry Pounds Average Selling Price excludes the impact of cultivation tax.

Conference Call

The Company will host a conference call to discuss the results today, August 13, 2026, at 5:00 p.m. Eastern Time.

Webcast and Replay:Register HereDial-In Number:1-800-715-9871 or 1-646-307-1963Conference ID:8964579#

(replay available for approximately 30 days)

In addition, content related to the earnings call including a transcript and audio recording of the call, as well as the Company’s financial statements and management’s discussion and analysis of financial condition and results of operations for the period (upon completion), will be posted to the Company’s website and can be found here. Content from previous reporting periods is also available.

Non-GAAP Financial Measures

Glass House defines EBITDA as Net Income (Loss) (GAAP) adjusted for interest and financing costs, income taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA excluding share-based compensation, stock appreciation rights expense, change in equity method investments, change in fair value of derivative instruments, impairment expense for goodwill and intangible assets, change in fair value of contingent liabilities and shares payable, loss on extinguishment of debt, employee retention tax credits, non-recurring casualty loss, non-recurring legal and professional fees and certain debt-related fees.

EBITDA and Adjusted EBITDA are presented because management has evaluated the financial results both including and excluding the adjusted items and believe that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. Such supplemental non-GAAP financial measures are not standardized financial measures under U.S. GAAP used to prepare the Company's financial statements and might not be comparable to similar financial measures disclosed by other companies and, thus, should only be considered in conjunction with the GAAP financial measures presented herein.

The Company has provided tables above that provide a reconciliation of the Company's Net Income (Loss) (GAAP) to Adjusted EBITDA for the three months ended June 30, 2026 compared to the three months ended June 30, 2025 and three months ended March 31, 2026.

Footnotes and Sources:

1. EBITDA and Adjusted EBITDA are non-GAAP financial measures that are not defined by U.S. GAAP and may not be comparable to similar measures presented by other companies. Please see “Non-GAAP Financial Measures” herein for further information and for a reconciliation of such non-GAAP measures to the closest GAAP measure.
2. Equivalent Dry Pound Production includes all dry production (flower, smalls and trim) plus equivalent dry weight for wet weight and fresh frozen not converted into dry weight by the Company.
3. Cost per Equivalent Dry Pound of Production, is the application of a subset of Costs of Goods Sold for cannabis biomass production (including all expenses from nursery and cultivation to curing and trimming - the point at which product is ready for sales as wholesale cannabis or to be transferred to CPG) applied to the Company's metric of dry production which includes all dry production (flower, smalls and trim) plus equivalent dry weight for wet weight and fresh frozen that is not converted into dry goods by the Company.
   
   

About Glass House Brands

Glass House is one of the fastest-growing cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. Whether it be through its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.

Forward Looking Statements

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or Glass House’s future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements regarding the completion of the proposed joint venture with Vireo and the anticipated benefits thereof. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although Glass House believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Glass House’s Annual Information Form available on SEDAR+ at www.sedarplus.ca and in Glass House’s Form 40-F available on EDGAR at www.sec.gov. For more information on Glass House, investors are encouraged to review Glass House’s public filings on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. The forward-looking statements and financial outlooks contained in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. Glass House disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For further information, please contact:

Glass House Brands Inc.
Jon DeCourcey, Vice President, Head of Capital Markets
T: (781) 724-6869
E: [email protected]

Investor Relations Contact:
KCSA Strategic Communications
Phil Carlson
T: 212-896-1233
E: [email protected]