Company Announcements

Independent Adult-Use Dispensary Established with Cannabis Reform Advocate Kyle Page

NEW YORK , April 22, 2026 /CNW/ - Ascend Wellness Holdings, Inc. ("AWH," "Ascend," or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a leading, multi-state, vertically integrated cannabis operator and consumer packaged goods company, today announced the opening of East Coasting, a new adult-use cannabis dispensary located at 178 NJ-35 Eatontown, NJ. Through a partnership agreement under New Jersey law that facilitates expanded investment opportunities for diversely-owned businesses in the cannabis industry, East Coasting will operate independently, with Ascend providing operational support and resources along with cannabis reform advocate Kyle Page. Today marks the soft opening of the new storefront, with a grand opening planned for April 24th.

Kyle Page will serve as owner and operator of East Coasting, bringing both lived experience and hands-on industry expertise to the dispensary. Page's journey has been shaped by the unequal enforcement of cannabis laws in Black communities and the long-term barriers created by cannabis-related convictions. After entering the legal cannabis industry in 2022, Page built his career at Ascend, progressing from cultivation associate to supervisor and later returning to the Company for retail and operational training in preparation for dispensary ownership.

"East Coasting represents everything I've learned through my journey, including the setbacks, the growth, and the responsibility that comes with leadership," said Kyle Page, owner and operator of East Coasting. "This is about building a dispensary that people are proud to visit, leading a team with care, and creating a space that reflects community, opportunity, and progress. With Ascend's support, my goal is for East Coasting to be more than a store and to become a destination and a brand that stands for inclusion, advocacy, and hope for what this industry can become."

Page was initially hired by Ascend through the Company's hiring efforts for returning citizens and quickly became an advocate at expungement clinics and community events, where he shared his experience and supported others navigating similar barriers. Despite facing regulatory challenges tied to his past conviction, Page persisted, continued working in the industry, and ultimately partnered with Ascend to launch his own dispensary.

"Kyle's story reflects both the harm caused by prohibition and the promise of a more equitable cannabis industry," said Danielle Drummond, Vice President of Social Equity for Ascend Wellness Holdings. "He has demonstrated resilience, leadership, and a deep commitment to community throughout his time with Ascend. East Coasting represents exactly what our social equity partnerships are designed to achieve by creating meaningful ownership opportunities for individuals who were once excluded from this industry."

East Coasting Dispensary will operate from 9 AM - 9 PM daily. A grand opening celebration is planned for April 24th and will feature giveaways, promotions and in-store activations. For more information on East Coasting Dispensary, visit https://eastcoasting.com/stores/east-coasting-new-jersey.

Ascend's CO-LAB for Social Equity program focuses on restorative justice, economic empowerment, and community reinvestment. CO-LAB has also supported mentorship, education, and funding for aspiring cannabis entrepreneurs from diverse backgrounds. By fostering inclusivity and supporting community-driven initiatives, Ascend aims to help create pathways to success for minority-owned businesses. For more information on CO-LAB and its initiatives, please visit https://letsascend.com/co-lab-for-social-equity/.

About Ascend Wellness Holdings, Inc.

AWH is a vertically integrated cannabis operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Simply Herb, Ozone, Ozone Reserve, High Wired, Honor Roll, Effin', Common Goods, and Royale branded products. For more information about AWH, visit www.awholdings.com.

Cautionary Note Regarding Forward-Looking Information

This news release includes forward-looking information and statements (together, "forward-looking statements"), which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "may", "will", "anticipates", and "intends" or similar expressions are intended to identify forward-looking statements. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected revenue, expectations regarding production capacity, anticipated capital expenditures, expansion, profit, product demand, margins, costs, cash flows, sources of capital, growth rates, potential acquisitions, closing dates for transactions, regulatory approvals, future facility openings, and, enhancing shareholder value, reducing downward pressure on the stock, and future financial and operating results are forward-looking statements.

We caution investors that any such forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, the receipt of all required regulatory approvals, and on certain assumptions and analysis made by the Company in light of the experience of the Company and perception of historical trends, current conditions, and expected future developments and other factors management believes are appropriate.

Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Such factors include, among others, the risks and uncertainties identified in the Company's most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable, and in the Company's other reports and filings with the applicable Canadian securities administrators on its profile on SEDAR+ at www.sedarplus.ca and the SEC on its profile on EDGAR at www.sec.gov. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking statements. Any forward-looking statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws. No securities regulator nor the Canadian Securities Exchange has reviewed, approved, or disapproved the content of this press release.

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SOURCE Ascend Wellness Holdings, Inc.