Company expands executive leadership team to support rapid growth

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the appointment of Destiny Thompson as Chief People Officer (CPO). Thompson will lead all aspects of Human Resources including the further integration of a people first culture at Verano.

Thompson is a proven Human Resources executive with nearly 20 years of experience driving people-oriented strategy, leading and scaling teams through rapid expansion and growth. She was previously Chief Human Resources Officer at Stout, a private investment bank and advisory firm. Throughout her career, Thompson has held a wide variety of senior Human Resources and Human Capital roles in large companies, including Huron Consulting, Navigant Consulting and Tellabs. She holds a B.A. from Purdue University and is a proud member of Chief, a network of senior women leaders.

“We welcome Destiny to Verano, and we’re thrilled to add her expertise in the area of people and talent to our leadership team,” said George Archos, Verano Founder and CEO. “I expect Destiny’s unique skill set will enable Verano to build upon present growth potential as an organization through initiatives focused on the people and culture of our Verano family. In doing so, she will ultimately help us to deliver more value to employees, customers, and shareholders over the long-term. We look forward to her contributions to the Company’s success.”

About Verano

Verano is a leading, vertically integrated, multi-state cannabis operator in the U.S. devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. With a mission to address vital health and wellness needs, Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands, including Verano^™, Avexia^™, Encore^™, and MÜV^™. Verano’s portfolio encompasses 14 U.S. states, with active operations in 11, including 11 production facilities comprising approximately 842,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands including Zen Leaf^™ and MÜV^™, delivering a superior cannabis shopping experience in both medical and adult-use markets. Learn more at www.verano.com.

Forward Looking Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the ability of the Company to complete the transactions referred to herein, the satisfaction of conditions to closing, the receipt of all necessary approvals including regulatory approvals, the integration of the operations of the companies being acquired, the proposed management of the companies being acquired and expectations for other economic, market, business, and competitive factors.

Although Verano believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.

Contacts:

Investors:
Verano
Julianna Paterra
Director, Investor Relations
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Media:
Verano
David Spreckman
VP, Marketing & Communications
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312-819-4852

Sard Verbinnen & Co.
Gabriella Coffey / Ryan McDougald
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