Jushi Holdings Adjusts CEO Compensation

*BOCA RATON, Fla.* — In order to assist the company in managing near-term
working capital requirements, Jushi Holdings Inc. and Chairman and Chief
Executive Officer Jim Cacioppo agreed to amend Cacioppo’s employment
agreement. Instead of the $1.05-million annual cash bonus and stock options
that would have been paid to him on or before March 15, 2026, Cacioppo will
receive a lump-sum cash payment of $300,000 and 3 million restricted
subordinate voting shares, which will vest on January 1, 2026, provided
Cacioppo remains employed by the company at that time.

As a director and officer of the company, Cacioppo is considered a “related
party” under Multilateral Instrument 61-101 – Protection Of Minority
Security Holders In Special Transactions and accordingly the employment
agreement amendments may be considered a related-party transaction. The
company is relying on exemptions from the formal valuation and minority
shareholder approval requirements provided under MI 61-101 on the basis
that the fair market value of the consideration to Cacioppo did not exceed
25 percent of the of the company’s market capitalization at the time the
amendments were adopted. The company did not file a material change report
in respect of the related-party transaction 21 days prior to the date of
the amendments because the amendments had not been confirmed at that time.
The company deemed this circumstance reasonable in the ordinary course of
business.