The Largest Consumer Survey of Product Innovation Awards Charlotte's Web CBD Gummies As Category Winner

Charlotte's Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) ("Charlotte's Web" or the "Company"), the market leader in cannabidiol ("CBD") hemp extract wellness products, announces that the Charlotte's Web line of CBD Gummies has been named Product of the Year for 2022. Product of the Year is the largest consumer-voted award for product innovation, determined by 40,000 American shoppers through a national survey conducted by Kantar, a global leader in consumer research. The Charlotte's Web Gummies line of products has been awarded the top honor as the most innovative product in the CBD Gummy category.

"We're thrilled to have Charlotte's Web CBD Gummies recognized as a 2022 Product of the Year Award winner for the CBD gummy category," said Jacques Tortoroli, Chief Executive Officer of Charlotte's Web. "In an extremely competitive industry, we're grateful for the opportunity to leverage the iconic Product of the Year red seal to help us stand out to consumers in a competitive market. The Product of the Year Award is a globally recognized program for product innovation that demonstrates that when you put the consumer first, with a product that provides a great flavor experience and efficacy that they recognize and reward that quality."

In an ever-changing consumer landscape, the annual Product of the Year Awards are a go-to resource for those looking to find the best new products on the market, whether they're shopping online or in-store. With a distinctive red seal that is globally recognized as the vote of confidence from consumers themselves, shoppers can easily cut through the clutter and trust that these products demonstrate the utmost innovation in their respective categories, whether in function, design, packaging or ingredients.

"Given the continued flux and uncertainty over the past two years, we're prouder than ever to provide consumers with the vote of 40,000 fellow shoppers as a guide they can trust when making important purchase decisions for themselves and their families," said Mike Nolan, Global CEO of Product of the Year Management. "One of the great strengths of Product of the Year is that we champion manufacturers for putting forward products that reflect the latest trends and offer consumers the solutions they're looking for."

For over 30 years globally and 14 years in the USA, Product of the Year has served as the stage for brands to showcase exceptional quality and innovation. As an annual benchmark that forecasts the trends in store for the year ahead, this year's winners reflect the things that everyday consumers value most.

Charlotte's Web Gummies are made with full spectrum hemp extract from the Company's patented hemp cultivars, clinically shown to provide meaningful improvements across health domains including sleep quality, feelings of daily stress and overall well-being. Vegan and non-GMO, Charlotte's Web extracts contain the naturally occurring phytocannabinoids including CBD, plus terpenes, flavonoids, and other beneficial hemp compounds. Charlotte's Web Gummies are developed with superior formulations further enhanced with functional herbs and botanical supplements that work in synergy to further support targeted wellness needs, including: DAILY WELLNESS, SLEEP, CALM, RECOVERY, IMMUNITY, and THC-FREE.

The 40 winners of the 2022 Product of the Year Awards will be celebrated in a segment on Daily Mail DailyMail.com. For more details, visit the Product of the Year Instagram page, here.

As a resource for shoppers nationwide, the 2022 Product of the Year winners are highlighted in a shoppable article created in partnership with WomansDay.com, the online destination for the Hearst-owned Woman's Day brand, and Ensemble IQ, a premier business intelligence resource with revered publications including Progressive Grocer, Store Brands, Drug Store News and Convenience Store News.

For further information about the 2022 Product of the Year winners, visit productoftheyearusa.com.

About Product of the Year

Product of the Year is the largest consumer-voted award for product innovation. Established over 30 years ago, POY currently operates in over 40 countries with the same purpose: Guide consumers to the best products in their market and reward manufacturers for quality and innovation. Product of the Year winners are determined by the votes of 40,000 consumers in an independent, national representative study conducted by research partner Kantar, a global leader in consumer research.  The award is a powerful merchandising program for marketers proven to increase product sales, distribution and awareness. Winning products announced in February of each year are included in Product of the Year's national marketing program and receive the right to use the Product of the Year honor and logo in their own marketing and sales communications for two years. For more information, visit productoftheyearusa.com.

About Kantar

Kantar is the world's leading marketing data, insight and consultancy company. We know more about how people live, feel, shop, vote, watch and post worldwide than any other company. Working across the entire sales and marketing lifecycle, we help brands uncover growth in an extraordinary world. Kantar's services are employed by over half of the Fortune 500 companies in 100 countries.

About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products under a family of brands which includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp™. Charlotte's Web branded premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and manufactured into hemp extracts containing naturally occurring phytocannabinoids including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other beneficial hemp compounds. The Company's CW Labs R&D division, advances hemp science at two centers of excellence in Louisville, Colorado, and the Hauptmann Woodward Research Institute at the University at Buffalo, part of the State University of New York (SUNY) network. Charlotte's Web product categories include full-spectrum hemp CBD oil tinctures (liquid products), CBD gummies (sleep, stress, exercise recovery), CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs.  Through its vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency. Charlotte's Web products are distributed to more than 14,000 retail, over 8,000 health care practitioners, and online through the Company's website at www.CharlottesWeb.com.

Subscribe to Charlotte's Web investor news.

Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, ‎‎"forward-looking information"). In some cases, but not necessarily in all cases, forward looking information can be identified by the ‎use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", ‎‎"is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and ‎phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be ‎achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or ‎circumstances contain forward-looking information. ‎Specifically, this news release contains forward-looking information relating to the Company's expansion activities and growth strategy; the Company's expectations regarding future cash flow and its financial position; the results of cost saving efforts; the impact and results of the Company's reorganization; market share expectations; and impacts of regulatory changes.

Statements containing forward-looking information are not historical facts but instead represent management's current ‎expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events ‎and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, ‎assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to ‎known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, ‎performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that could cause actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the factors discussed throughout the "Risk Factors" section of the Company's most recently filed annual information form available on www.SEDAR.com and in the Company's most recently filed Form 10, as amended, and other filings with the Securities and Exchange Commission available on www.SEC.com. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.