AGM Presentation - 9PT News

Third quarter income of $284 million , up 3% yr over yr, consistent with steerage
Gross margin of 61%, in comparison with 52% through the third quarter of 2023
Yr so far money movement from operations of $241 million and free money movement of $162 million *
Florida adult-use marketing campaign assist of $48 million through the third quarter

Trulieve Hashish Corp . (CSE: TRUL ) (OTCQX: TCNNF ) (“Trulieve” or “the Firm”), a number one and top-performing hashish firm within the U.S., right now introduced its outcomes for the quarter ended September 30, 2024. Outcomes are reported in U.S. {dollars} and in accordance with U.S. Typically Accepted Accounting Ideas until in any other case indicated. Numbers might not sum completely resulting from rounding.

Q3 2024 Monetary and Operational Highlights*

Income of $284 million elevated 3% yr over yr, with 95% of income from retail gross sales.
Achieved gross margin of 61%, with GAAP gross revenue of $173 million .
Reported internet loss attributable to widespread shareholders of $60 million . Adjusted internet lack of $12 million * excludes $48 million in marketing campaign assist and different non-recurring prices, asset impairments, disposals and discontinued operations.
Achieved adjusted EBITDA of $96 million *, or 34% of income, up 24% yr over yr.
Generated money movement from operations of $30 million and free money movement of $(7) million *, each of which have been impacted by $48 million in marketing campaign assist.
Money and brief time period investments at quarter finish totaled $319 million .
Launched grownup use gross sales at three Ohio areas: Beavercreek, Columbus , and Westerville .
Rolled out #YesOn3 product line to assist Good and Protected Florida adult-use marketing campaign.
Entered partnership with Skilled Pickleball Affiliation and Main League Pickleball to sponsor occasions in Arizona , Florida , and Georgia .
Opened 15 new dispensaries in Florida and Pennsylvania .
Ended the quarter with 30% of retail areas exterior of the state of Florida .

*See “Non-GAAP Monetary Measures” under for added info and a reconciliation to GAAP for all Non-GAAP metrics.

Current Developments

Opened 5 new retail areas in Bonita Springs , Hallandale , Lake Placid , Orlando , and St. Augustine, Florida .
Presently function 220 retail dispensaries and over 4 million sq. toes of cultivation and processing capability in america .

Administration Commentary

“As voters in Florida solid their ballots throughout the state right now, there is a chance to make historical past by approving hashish legalization for private use,” stated Kim Rivers , Trulieve CEO. “With 156 shops in Florida , scaled manufacturing capability, and adequate capital to assist additional funding, if authorized, Trulieve is greatest positioned to completely put together for the launch of leisure gross sales subsequent Spring.”

Monetary Highlights*

Outcomes of Operations	For the Three Months Ended								For the 9 Months Ended
(Figures in tens of millions besides per share information)	September 30, 2024		September 30, 2023		% Higher / (Worse)	June 30, 2024		% Higher / (Worse)	September 30, 2024		September 30, 2023		% Higher / (Worse)
Income	$	284	$	275	3 %	$	303	(6 %)	$	885	$	842	5 %
Gross revenue	$	173	$	143	21 %	$	182	(5 %)	$	529	$	435	22 %
Gross margin %		61 %		52 %			60 %			60 %		52 %
Working bills	$	173	$	120	(44 %)	$	132	(31 %)	$	432	$	686	37 %
Working bills %		61 %		43 %			43 %			49 %		81 %
Internet loss**	$	(60)	$	(25)	(137 %)	$	(12)	NMF	$	(95)	$	(493)	81 %
Internet loss persevering with operations	$	(60)	$	(23)	(163 %)	$	(11)	NMF	$	(94)	$	(399)	76 %
Adjusted internet (loss) earnings	$	(12)	$	(15)	19 %	$	0	NMF	$	(22)	$	(47)	53 %
Primary and diluted shares excellent		190		189			190			190		189
EPS persevering with operations	$	(0.32)	$	(0.12)	(168 %)	$	(0.04)	NMF	$	(0.52)	$	(2.09)	75 %
Adjusted EPS	$	(0.06)	$	(0.08)	20 %	$	0.00	NMF	$	(0.12)	$	(0.25)	54 %
Adjusted EBITDA	$	96	$	78	24 %	$	107	(10 %)	$	309	$	235	32 %
Adjusted EBITDA Margin %		34 %		28 %			35 %			35 %		28 %

NMF – No Significant Determine

*See “Non-GAAP Monetary Measures” under for added info and a reconciliation to GAAP for all Non-GAAP metrics.

**Internet loss attributable to widespread shareholders which excludes non-controlling curiosity.

Convention Name

The Firm will host a convention name and stay audio webcast on November 5, 2024, at 8:30 A.M. Japanese time , to debate its third quarter 2024 monetary outcomes. events can be part of the convention name by dialing in as directed under. Please dial in quarter-hour previous to the decision.

North American toll free: 1-844-824-3830		Passcode: 3735709

Worldwide: 1-412-542-4136		Passcode: 3735709

A stay audio webcast of the convention name shall be obtainable at:
Trulieve Hashish Corp Q3 2024 Earnings

A powerpoint presentation and archived replay of the webcast shall be obtainable at:
https: //traders.trulieve.com/occasions

The Firm’s Type 10-Q for the quarter ended September 30, 2024, shall be obtainable on the SEC’s web site or at https://traders.trulieve.com/quarterly-results . The Firm’s Administration Dialogue and Evaluation for the interval and the accompanying monetary statements and notes shall be obtainable underneath the Firm’s profile on https://www.sedarplus.ca/landingpage/ and on its web site at https://traders.trulieve.com/quarterly-results . This information launch will not be in any approach an alternative to studying these monetary statements, together with the notes to the monetary statements.

Trulieve Hashish Corp. Condensed Consolidated Steadiness Sheets (Unaudited) (in tens of millions, apart from share information)

	September 30, 2024	December 31, 2023
ASSETS
Present Property:
Money and money equivalents	$ 237.7	$ 201.4
Quick-term investments	80.2	—
Restricted money	0.9	6.6
Accounts receivable, internet	9.0	6.7
Inventories	220.9	213.1
Earnings tax receivable	5.8	—
Pay as you go bills	19.2	17.6
Different present belongings	26.6	23.7
Notes receivable – present portion, internet	1.8	6.2
Property related to discontinued operations	0.9	2.0
Whole present belongings	603.0	477.3
Property and tools, internet	701.6	676.4
Proper of use belongings – working, internet	116.1	95.9
Proper of use belongings – finance, internet	65.6	58.5
Intangible belongings, internet	873.3	917.2
Goodwill	483.9	483.9
Notes receivable, internet	5.8	7.4
Different belongings	23.0	10.4
Lengthy-term belongings related to discontinued operations	2.0	2.0
TOTAL ASSETS	$ 2,874.2	$ 2,729.1
LIABILITIES
Present Liabilities:
Accounts payable and accrued liabilities	$ 96.1	$ 83.2
Deferred income	6.7	1.3
Notes payable – present portion	3.3	3.8
Working lease liabilities – present portion	11.6	10.1
Finance lease liabilities – present portion	9.1	7.6
Development finance liabilities – present portion	1.8	1.5
Contingencies	4.6	4.4
Liabilities related to discontinued operations	3.5	3.0
Whole present liabilities	136.7	114.8
Lengthy-Time period Liabilities:
Personal placement notes, internet	364.4	363.2
Notes payable, internet	112.8	115.9
Working lease liabilities	113.4	92.2
Finance lease liabilities	68.4	61.7
Development finance liabilities	135.9	136.7
Deferred tax liabilities	204.2	207.0
Unsure tax place liabilities	384.1	180.4
Different long-term liabilities	6.5	7.1
Lengthy-term liabilities related to discontinued operations	39.4	41.6
TOTAL LIABILITIES	$ 1,565.8	$ 1,320.4
MEZZANINE EQUITY
Redeemable non-controlling curiosity	$ 7.1	$ —
SHAREHOLDERS’ EQUITY
Widespread inventory, no par worth; limitless shares approved. 189,154,228 and 186,235,818 shares issued and excellent as of September 30, 2024 and December 31, 2023, respectively.	$ —	$ —
Further paid-in-capital	2,048.0	2,055.1
Amassed deficit	(736.0)	(640.6)
Non-controlling curiosity	(10.7)	(5.9)
TOTAL SHAREHOLDERS’ EQUITY	1,301.3	1,408.6
TOTAL LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS’ EQUITY	$ 2,874.2	$ 2,729.1

Trulieve Hashish Corp. Condensed Consolidated Statements of Operations (Unaudited) (in tens of millions, apart from share information)

	Three Months Ended September 30,		9 Months Ended September 30,
	2024	2023	2024	2023
Income	$ 284.3	$ 275.2	$ 885.3	$ 842.2
Value of products offered	111.0	132.3	356.6	407.4
Gross revenue	173.3	142.9	528.7	434.8
Bills:
Gross sales and advertising	66.7	59.4	191.0	181.2
Common and administrative	81.9	34.5	161.5	108.7
Depreciation and amortization	28.3	27.0	84.2	82.6
Impairment and disposal of long-lived belongings, internet of (recoveries)	(4.3)	(1.2)	(4.4)	5.5
Impairment of goodwill	—	—	—	307.6
Whole bills	172.7	119.6	432.3	685.6
Earnings (loss) from operations	0.6	23.3	96.5	(250.8)
Different earnings (expense):
Curiosity expense, internet	(17.5)	(20.8)	(47.6)	(60.9)
Curiosity earnings	4.2	1.9	11.5	4.3
Achieve on debt extinguishment	—	8.2	—	8.2
Different (expense) earnings, internet	(0.2)	1.1	(4.8)	5.9
Whole different expense, internet	(13.5)	(9.6)	(40.9)	(42.6)
(Loss) earnings earlier than provision for earnings taxes	(12.8)	13.7	55.6	(293.4)
Provision for earnings taxes	47.4	36.6	150.0	105.9
Internet loss from persevering with operations	(60.2)	(22.9)	(94.4)	(399.3)
Internet loss from discontinued operations, internet of tax profit (provision) of zero, zero, zero, and $(0.6), respectively	(1.6)	(2.9)	(4.6)	(99.1)
Internet loss	(61.9)	(25.8)	(99.0)	(498.3)
Much less: internet loss attributable to non-controlling curiosity from persevering with operations	(1.4)	(0.5)	(2.8)	(3.8)
Much less: internet loss attributable to redeemable non-controlling curiosity from persevering with operations	(0.3)	—	(0.9)	—
Much less: internet loss attributable to non-controlling curiosity from discontinued operations	—	—	—	(1.2)
Internet loss attributable to widespread shareholders	$ (60.2)	$ (25.4)	$ (95.3)	$ (493.4)

Earnings Per Share (see numerator reconciliation under)
Internet loss per share – Persevering with operations:
Primary and diluted	$ (0.32)	$ (0.12)	$ (0.52)	$ (2.09)
Internet loss per share – Discontinued operations:
Primary and diluted	$ (0.01)	$ (0.02)	$ (0.02)	$ (0.52)
Weighted common variety of widespread shares utilized in computing internet loss per share:
Primary and diluted	190.2	188.9	190.0	189.0

EPS Numerator Reconciliation
Internet loss attributable to widespread shareholders (from above)	$ (60.2)	$ (25.4)	$ (95.3)	$ (493.4)
Internet loss from discontinued operations, internet of tax, attributable to widespread shareholders	1.6	2.9	4.6	97.9
Adjustment of redeemable non-controlling curiosity to most redemption worth	(2.1)	—	(9.0)	—
Internet loss from persevering with operations obtainable to widespread shareholders	$ (60.6)	$ (22.5)	$ (99.7)	$ (395.5)

Trulieve Hashish Corp. Condensed Consolidated Statements of Money Flows (Unaudited) (in tens of millions)

	Three Months Ended September 30,		9 Months Ended September 30,
	2024	2023	2024	2023
Money flows from working actions
Internet loss	$ (61.9)	$ (25.8)	$ (99.0)	$ (498.3)
Changes to reconcile internet loss to internet money offered by working actions:
Depreciation and amortization	28.3	27.0	84.2	83.6
Depreciation included in value of products offered	13.3	14.5	40.1	45.4
Achieve on debt extinguishment	—	(8.2)	—	(8.2)
Impairment and disposal of long-lived belongings, internet of (recoveries)	(4.3)	(1.2)	(4.4)	5.5
Impairment of goodwill	—	—	—	307.6
Amortization of working lease proper of use belongings	3.0	2.5	8.3	7.8
Share-based compensation	5.5	4.5	15.6	7.4
Allowance for credit score losses	0.5	0.5	4.9	0.9
Deferred earnings taxes	(6.2)	(6.5)	(2.7)	(18.7)
Loss from disposal of discontinued operations	—	0.6	—	69.8
Different non-cash adjustments	(0.3)	1.7	0.9	5.0
Adjustments in working belongings and liabilities:
Inventories	(13.3)	26.2	(8.3)	66.5
Accounts receivable	(1.5)	(1.2)	(0.7)	(1.9)
Pay as you go bills and different present belongings	4.9	4.3	(0.9)	9.3
Different belongings	(1.1)	0.3	(6.1)	2.0
Accounts payable and accrued liabilities	4.9	8.9	4.6	4.5
Earnings tax receivable / payable	0.5	(0.1)	(4.3)	(49.9)
Different liabilities	—	0.9	0.2	(14.4)
Working lease liabilities	(1.6)	(2.1)	(6.0)	(6.9)
Deferred income	2.3	(2.2)	5.3	(6.0)
Unsure tax place liabilities	51.0	50.7	203.8	61.8
Different long-term liabilities	1.8	(1.8)	(0.7)	(2.6)
Proceeds obtained from insurance coverage for working bills	4.4	—	5.9	—
Internet money offered by working actions	30.3	93.4	240.8	70.4
Money flows from investing actions
Purchases of property and tools	(36.9)	(6.3)	(79.0)	(31.0)
Capitalized curiosity	(1.2)	0.9	(0.9)	0.1
Purchases of inner use software program	(6.8)	(3.4)	(18.3)	(7.7)
Purchases of short-term investments	(80.0)	—	(80.0)	—
Money paid for licenses	(6.5)	—	(7.0)	(4.0)
Fee for preliminary direct prices on finance leases	(0.6)	—	(0.6)	—
Proceeds from disposal actions	0.3	3.5	1.0	11.7
Proceeds from notes receivable repayments	0.3	0.2	0.9	0.6
Proceeds obtained from insurance coverage recoveries on property and tools	—	—	0.5	—
Internet money utilized in investing actions	(131.5)	(5.0)	(183.4)	(30.3)
Money flows from financing actions
Funds for taxes associated to internet share settlement of fairness awards	(12.2)	—	(12.3)	—
Funds on finance lease obligations	(1.9)	(1.8)	(5.5)	(5.7)
Funds on notes payable	(1.4)	(0.7)	(3.8)	(5.5)
Funds on building finance liabilities	(0.9)	(0.7)	(2.5)	(1.3)
Funds and prices associated to consolidated VIE settlement transaction	—	—	(5.1)	—
Distributions to subsidiary non-controlling curiosity	—	—	(1.1)	(0.1)
Funds on non-public placement notes	—	(47.6)	—	(47.6)
Funds for debt issuance prices	—	(0.4)	—	(0.4)
Proceeds from non-controlling curiosity holders’ subscription	—	—	3.0	—
Proceeds from fairness workout routines	—	—	0.2	—
Internet money utilized in financing actions	(16.4)	(51.3)	(27.1)	(60.6)
Internet (lower) enhance in money, and money equivalents	(117.5)	37.2	30.3	(20.5)
Money, money equivalents, and restricted money, starting of interval	356.1	159.9	208.0	213.8
Money and money equivalents of discontinued operations, starting of interval	—	1.8	0.3	5.7
Much less: money and money equivalents of discontinued operations, finish of interval	—	(0.1)	—	(0.1)
Money, money equivalents, and restricted money, finish of interval	$ 238.6	$ 198.9	$ 238.6	$ 198.9

The consolidated statements of money flows embrace persevering with operations and discontinued operations for the durations introduced.

Non-GAAP Monetary Measures (Unaudited)

Along with our outcomes decided in accordance with GAAP, we complement our outcomes with non-GAAP monetary measures, together with EBITDA, adjusted EBITDA, adjusted EBITDA margin %, adjusted internet (loss) earnings, adjusted internet (loss) earnings per diluted share, and free money movement. The Firm calculates EBITDA as internet earnings (loss) earlier than internet curiosity expense, earnings tax expense, depreciation and amortization; adjusted EBITDA as internet earnings (loss) earlier than internet curiosity expense, curiosity earnings, earnings tax expense, depreciation and amortization and likewise excludes sure extraordinary gadgets; adjusted EBITDA margin as adjusted EBITDA as % of income, adjusted internet (loss) earnings as internet earnings (loss) much less sure extraordinary gadgets; adjusted EPS as adjusted internet (loss) earnings divided by fundamental and diluted shares excellent; and free money movement as money movement from operations much less capital expenditures. Our administration makes use of these non-GAAP monetary measures along side GAAP monetary measures to guage our working outcomes and monetary efficiency. We imagine these measures are helpful to traders as they’re broadly used measures of efficiency and may facilitate comparability to different corporations. These non-GAAP monetary measures are usually not, and shouldn’t be thought of as, measures of liquidity. These non-GAAP monetary measures have limitations as analytical instruments in that they don’t mirror all the quantities related to our outcomes of operations as decided in accordance with GAAP. Due to these limitations, these non-GAAP monetary measures ought to be thought of together with GAAP monetary efficiency measures. The presentation of those non-GAAP monetary measures will not be meant to be thought of in isolation or as an alternative to, or superior to, monetary info ready and introduced in accordance with GAAP. Traders are inspired to evaluation the reconciliation of those non-GAAP monetary measures to their most instantly comparable GAAP monetary measures. A reconciliation of the non-GAAP monetary measures to such GAAP measures could be discovered under. These non-GAAP monetary measures ought to be thought of supplemental to, and never an alternative to, our reported monetary outcomes ready in accordance with GAAP.

Reconciliation of Non-GAAP EBITDA and Adjusted EBITDA (Unaudited)
The next desk presents a reconciliation of GAAP internet loss attributable to widespread shareholders to non-GAAP EBITDA and Adjusted EBITDA for every of the durations introduced:

(Quantities expressed in tens of millions of United States {dollars})	Three Months Ended						For the 9 Months Ended
	September 30, 2024		September 30, 2023		June 30, 2024		September 30, 2024		September 30, 2023
Internet loss attributable to widespread shareholders	$	(60.2)	$	(25.4)	$	(12.0)	$	(95.3)	$	(493.4)
Add (deduct) impression of:
Curiosity expense, internet	$	17.5	$	20.8	$	15.4	$	47.6	$	60.9
Curiosity earnings	$	(4.2)	$	(1.9)	$	(4.0)	$	(11.5)	$	(4.3)
Provision for earnings taxes	$	47.4	$	36.6	$	47.2	$	150.0	$	105.9
Depreciation and amortization	$	28.3	$	27.0	$	28.1	$	84.2	$	82.6
Depreciation included in value of products offered	$	13.3	$	14.6	$	13.3	$	40.1	$	42.7
EBITDA (Non-GAAP)	$	42.1	$	71.8	$	88.0	$	215.0	$	(205.5)
EBITDA Margin (Non-GAAP)		15 %		26 %		29 %		24 %		(24 %)

Impairment of goodwill	$	—	$	—	$	—	$	—	$	307.6
Impairment and disposal of long-lived belongings, internet of (recoveries)	$	(4.3)	$	(1.2)	$	1.2	$	(4.4)	$	5.5
Legislative marketing campaign contributions	$	48.4	$	0.5	$	5.0	$	62.7	$	19.6
Acquisition, transaction, and different non-recurring prices	$	2.6	$	8.5	$	4.3	$	10.6	$	16.1
Share-based compensation	$	5.5	$	4.5	$	5.0	$	15.6	$	7.4
Achieve on debt extinguishment	$	—	$	(8.2)	$	—	$	—	$	(8.2)
Different (expense) earnings, internet	$	0.2	$	(1.1)	$	1.8	$	4.8	$	(5.9)
Discontinued operations, internet of tax, attributable to widespread shareholders	$	1.6	$	2.9	$	1.6	$	4.6	$	97.9
Adjusted EBITDA (Non-GAAP)	$	96.1	$	77.7	$	107.0	$	308.8	$	234.5
Adjusted EBITDA Margin (Non-GAAP)		34 %		28 %		35 %		35 %		28 %

Reconciliation of Non-GAAP Adjusted Internet (Loss) Earnings (Unaudited)
The next desk presents a reconciliation of GAAP internet loss attributable to widespread shareholders to non-GAAP adjusted internet (loss) earnings, for every of the durations introduced:

	For the Three Months Ended						For the 9 Months Ended
(Quantities expressed in tens of millions of United States {dollars})	September 30, 2024		September 30, 2023		June 30, 2024		September 30, 2024		September 30, 2023
Internet loss attributable to widespread shareholders	$	(60.2)	$	(25.4)	$	(12.0)	$	(95.3)	$	(493.4)
Internet loss from discontinued operations, internet of tax, attributable to widespread shareholders	$	1.6	$	2.9	$	1.6	$	4.6	$	97.9
Adjustment of redeemable non-controlling curiosity to most redemption worth	$	(2.1)	$	—	$	1.9	$	(9.0)	$	—
Internet loss from persevering with operations obtainable to widespread shareholders	$	(60.6)	$	(22.5)	$	(8.5)	$	(99.7)	$	(395.5)
Add (deduct) impression of:
Adjustment of redeemable non-controlling curiosity to most redemption worth	$	2.1	$	—	$	(1.9)	$	9.0	$	—
Impairment of goodwill	$	—	$	—	$	—	$	—	$	307.6
Impairment and disposal of long-lived belongings, internet of (recoveries)	$	(4.3)	$	(1.2)	$	1.2	$	(4.4)	$	5.5
Legislative marketing campaign contributions	$	48.4	$	0.5	$	5.0	$	62.7	$	19.6
Acquisition, transaction, and different non-recurring prices	$	2.6	$	8.5	$	4.3	$	10.6	$	16.1
Truthful worth of spinoff liabilities – warrants	$	—	$	—	$	—	$	—	$	(0.3)
Adjusted internet (loss) earnings (Non-GAAP)	$	(11.9)	$	(14.7)	$	0.2	$	(21.9)	$	(47.0)

Reconciliation of Non-GAAP Adjusted Internet (Loss) Earnings Per Diluted Share (Unaudited)
The next desk presents a reconciliation of GAAP internet loss attributable to widespread shareholders per share to non-GAAP adjusted internet (loss) earnings per diluted share, for every of the durations introduced:

	For the Three Months Ended						For the 9 Months Ended
(Quantities expressed are per share apart from shares that are in tens of millions)	September 30, 2024		September 30, 2023		June 30, 2024		September 30, 2024		September 30, 2023
Internet loss attributable to widespread shareholders	$	(0.32)	$	(0.13)	$	(0.06)	$	(0.50)	$	(2.61)
Internet loss from discontinued operations, internet of tax, attributable to widespread shareholders	$	0.01	$	0.02	$	0.01	$	0.02	$	0.52
Adjustment of redeemable non-controlling curiosity to most redemption worth	$	(0.01)	$	—	$	0.01	$	(0.05)	$	—
Internet loss from persevering with operations obtainable to widespread shareholders	$	(0.32)	$	(0.12)	$	(0.04)	$	(0.52)	$	(2.09)
Add (deduct) impression of:
Adjustment of redeemable non-controlling curiosity to most redemption worth	$	0.01	$	—	$	(0.01)	$	0.05	$	—
Impairment of goodwill	$	—	$	—	$	—	$	—	$	1.63
Impairment and disposal of long-lived belongings, internet of (recoveries)	$	(0.02)	$	(0.01)	$	0.01	$	(0.02)	$	0.03
Legislative marketing campaign contributions	$	0.25	$	0.00	$	0.03	$	0.33	$	0.10
Acquisition, transaction, and different non-recurring prices	$	0.01	$	0.05	$	0.02	$	0.06	$	0.09
Truthful worth of spinoff liabilities – warrants	$	—	$	—	$	—	$	—	$	0.00
Adjusted internet (loss) earnings (Non-GAAP)	$	(0.06)	$	(0.08)	$	0.00	$	(0.12)	$	(0.25)
Primary and diluted shares excellent		190.2		188.9		190.3		190.0		189.0

Reconciliation of Non-GAAP Free Money Movement (Unaudited)
The next desk presents a reconciliation of GAAP money movement from working actions to non-GAAP free money movement, for every of the durations introduced:

	For the Three Months Ended						For the 9 Months Ended
(Quantities expressed in tens of millions of United States {dollars})	September 30, 2024		September 30, 2023		June 30, 2024		September 30, 2024		September 30, 2023
Money movement from working actions	$	30.3	$	93.4	$	71.3	$	240.8	$	70.4
Funds for property and tools	$	(36.9)	$	(6.3)	$	(26.5)	$	(79.0)	$	(31.0)
Free money movement (Non-GAAP)	$	(6.6)	$	87.2	$	44.8	$	161.8	$	39.4

Ahead-Wanting Statements

This information launch consists of forward-looking info and statements inside the which means of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Firm’s expectations or forecasts of enterprise, operations, monetary efficiency, money flows, prospects, and different plans, intentions, expectations, estimates, and beliefs and embrace statements relating to the potential approval of hashish legalization for private use in Florida , the Firm’s development alternatives and the Firm’s positioning for the long run. Phrases resembling “expects”, “proceed”, “will”, “anticipates” and “intends” or comparable expressions are meant to determine forward-looking statements. These forward-looking statements are primarily based on the Firm’s present projections and expectations about future occasions and monetary developments that administration believes would possibly have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants, and on sure assumptions and evaluation made by the Firm in mild of the expertise and notion of historic developments, present situations and anticipated future developments and different elements administration believes are applicable. Ahead-looking info and statements contain and are topic to assumptions and recognized and unknown dangers, uncertainties, and different elements which can trigger precise occasions, outcomes, efficiency, or achievements of the Firm to be materially totally different from future occasions, outcomes, efficiency, and achievements expressed or implied by forward-looking info and statements herein, together with, with out limitation, the dangers mentioned underneath the heading “Threat Elements” in our Annual Report on Type 10-Okay for the yr ended December 31, 2023 and in our periodic stories subsequently filed with the United Sates Securities and Alternate Fee and within the Firm’s filings on https://www.sedarplus.ca/landingpage/ . Though the Firm believes that any forward-looking info and statements herein are affordable, in mild of using assumptions and the numerous dangers and uncertainties inherent in such info and statements, there could be no assurance that any such forward-looking info and statements will show to be correct, and accordingly readers are suggested to depend on their very own analysis of such dangers and uncertainties and mustn’t place undue reliance upon such forward-looking info and statements. Any forward-looking info and statements herein are made as of the date hereof and, besides as required by relevant legal guidelines, the Firm assumes no obligation and disclaims any intention to replace or revise any forward-looking info and statements herein or to replace the explanations that precise occasions or outcomes may or do differ from these projected in any ahead wanting info and statements herein, whether or not because of new info, future occasions or outcomes, or in any other case.

About Trulieve

Trulieve is an business main, vertically built-in hashish firm and multi-state operator within the U.S., with main market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated development and growth, constructing scale in retail and distribution in new and present markets via its hub technique. By offering modern, high-quality merchandise throughout its model portfolio, Trulieve delivers optimum buyer experiences and will increase entry to hashish, serving to sufferers and clients to stay with out limits. Trulieve is listed on the CSE underneath the image TRUL and trades on the OTCQX market underneath the image TCNNF. For extra info, please go to Trulieve.com .

Fb: @Trulieve
Instagram: @Trulieve_
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Company Communications Supervisor
+1 (406) 370-6226
Philip.Buck@Trulieve.com

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