News Release Details

- AWH has Disclosed Sustainable Accounting Standards Board Metrics-
-AWH has Pledged to Eight of the United Nations' Sustainable Development Goals -

NEW YORK, March 14, 2022 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, today announced the release of its 2021 environmental, social and governance ("ESG") metrics, aligned with the Sustainability Accounting Standards Board ("SASB") framework.

"We are proud to release our inaugural ESG report, which highlights our disclosure of SASB metrics, our pledge to eight of the United Nations' Sustainable Development Goals, and our commitment to social justice; diversity and inclusion; corporate governance; and sustainable business practices," said Abner Kurtin, Founder, and CEO of AWH. "Social equity and governance have both been core tenants of our philosophy since the inception of AWH, and we are thrilled to expand our focus to prioritize environmental sustainability and ESG disclosure."

Key takeaways from the report include:

• Establishment of employee resource groups ("ERGs"): AWH has launched 2 ERGs: 'Women in Leadership' and 'LGBTQIA+'. AWH is launching the 'Black and Brown' resource group later this month and is looking to expand the program further. AWH has more than 100 participants in the voluntary, employee-led ERGs, which are designed to foster a diverse, inclusive workplace aligned with AWH's organizational mission, values, goals, business practices, and objectives.
• Launch of the Ascend Foundation, a nonprofit organization that will support organizations that demand justice and help diversify the cannabis industry.
• Disclosure of gender and ethnic diversity data to increase transparency and encourage the achievement of AWH's commitment to reaching parity across all levels.
• Support of expungement clinics: AWH has contributed funds to the Continuing Legal Education (CLE) institute, which seeks to educate attorneys interested in learning the ins and outs of the expungement process.
• Use of biodegradable packaging for the second phase of its new product line—Simply Herb.
• Disclosure of marketing practices to improve the transparency of techniques used to market to those ages 21 and older.

SASB is an independent, standards-setting organization dedicated to improving the effectiveness and comparability of corporate disclosure on material ESG factors. SASB's approach to standard-setting uses a process that is evidence-based and market-informed. AWH's ESG metrics are available on pages 9-12 of the Company's 2021 Annual Report.

About AWH:
AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products. AWH produces and distributes Ozone branded products. For more information, visit www.awholdings.com. 

Forward-Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, and on certain assumptions and analysis made by the Company in light of experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate.

Forward-looking information and 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 information and statements herein. Such factors include, among others: the risks and uncertainties identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's other reports and filings with the applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and 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 information and statements. Any forward-looking information and 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 information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The CSE has not reviewed, approved or disapproved the content of this news release.

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SOURCE Ascend Wellness Holdings, Inc.

Ascend Wellness Holding Investor Contact: Rebecca Koar, 617-453-4042 ext. 90102, [email protected]; Ascend Wellness Holdings Media Contact: MATTIO Communications, Mark Sinclair, 650-269-9530, [email protected]