Announcement • Jul 10
Trulieve Cannabis Corp. to Report Q2, 2026 Results on Aug 07, 2026 Trulieve Cannabis Corp. announced that they will report Q2, 2026 results Pre-Market on Aug 07, 2026 Announcement • Jul 03
Trulieve Cannabis Corp. Announces Change of Chief Accounting Officer, Effective June 30, 2026 As of June 30, 2026, Trulieve Cannabis Corp. eliminated the stand-alone position of Chief Accounting Officer. In connection with this action, the Company terminated the employment of Mr. Brett Walsh, who has served as the Company’s Chief Accounting Officer (principal accounting officer), without cause. In connection with the elimination of the stand-alone position of Chief Accounting Officer, the Company appointed Jan Reese, the Company’s Chief Financial Officer (principal financial officer), as the Company’s principal accounting officer, effective June 30, 2026. Mr. Reese will not receive any adjustment to his compensation or any additional compensation in connection with performing the functions of the Company’s principal accounting officer. Announcement • Jun 13
Jason Pernell to Terminate Employment His Position of President of Trulieve Cannabis Corp., Effective June 11, 2026 On June 11, 2026 (the “Termination Date”), the Trulieve Cannabis Corp. and Jason Pernell mutually agreed that Mr. Pernell shall terminate his employment his position of President of Trulieve Cannabis Corp. (the “Company”) effective June 11, 2026. Announcement • Jun 09
Trulieve Cannabis Corp. (CNSX:TRUL) announces an Equity Buyback for 8,495,038 shares, representing 5% for $50 million. Trulieve Cannabis Corp. (CNSX:TRUL) announces a share repurchase program. Under the program, the company will repurchase up to the lesser of $50 million and 8,495,038 subordinate voting shares of the Company, representing 5% of the Company’s issued and outstanding subordinate voting shares. The shares repurchased will be cancelled. The program will expire on June 16, 2027. New Risk • Jun 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Breakeven Date Change • May 21
Forecast to breakeven in 2026 The 7 analysts covering Trulieve Cannabis expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$28.8m in 2026. Earnings growth of 132% is required to achieve expected profit on schedule. Announcement • May 02
Trulieve Cannabis Corp Files Applications with Drug Enforcement Administration for Registration of State Licensed Medical Marijuana Businesses Trulieve Cannabis Corp. had filed applications with the Drug Enforcement Administration to register certain state-licensed medical marijuana operations pursuant to the expedited registration pathway established by the recent rescheduling of medical marijuana to Schedule III under the Controlled Substances Act. Following the reclassification of medical marijuana to Schedule III, the Drug Enforcement Administration established an expedited registration process for eligible state-licensed medical marijuana operators. For operators that apply within 60 days, licensure to manufacture, distribute, and dispense Schedule III medical marijuana products is deemed approved unless otherwise notified. Announcement • Apr 17
Trulieve Cannabis Corp. to Report Q1, 2026 Results on May 07, 2026 Trulieve Cannabis Corp. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 07, 2026 Announcement • Apr 01
Trulieve Cannabis Corp., Annual General Meeting, Jun 09, 2026 Trulieve Cannabis Corp., Annual General Meeting, Jun 09, 2026. Announcement • Feb 10
Trulieve Cannabis Corp. to Report Q4, 2025 Results on Feb 26, 2026 Trulieve Cannabis Corp. announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026 Announcement • Feb 07
Trulieve Cannabis Corp. announced that it has received $13.5 million in funding On February 6, 2026, Trulieve Cannabis Corp. closed the transaction. The transaction included participation from 11 investors. Announcement • Dec 30
Trulieve Cannabis Corp. announced that it has received $51.9 million in funding On December 29, 2025, Trulieve Cannabis Corp. closed the transaction. The transaction included participation from 18 investors. Announcement • Dec 17
Trulieve Cannabis Corp. announced that it has received $140 million in funding On December 17, 2025, Trulieve Cannabis Corp. closed the transaction. The company amended the terms of the transaction. The company received $140 million in the transaction. The notes may be redeemed in whole or in part, at any time from time to time, on or after December 17, 2027 at the applicable redemption price set forth in the second supplemental indenture governing the notes. The notes are subject to a hold period of four months. Announcement • Dec 09
Trulieve Cannabis Corp. announced that it expects to receive $100 million in funding Trulieve Cannabis Corp. announced that it has announced a private placement on best-efforts of Senior Secured Notes for aggregate gross proceeds of $100 million on December 8, 2025. The Notes, which will be issued at 100% of face value, will be senior secured obligations of the Company. The Notes will bear interest at a rate of 10.5% per annum, payable semi-annually in equal installments until the maturity date, unless earlier redeemed or repurchased. The Notes will mature on or about December 17, 2030, and may be redeemed in whole or in part, at any time from time to time, on or after the date that is two years following the issue date at the applicable redemption price set forth in the supplemental indenture to be entered into on closing of the Offering. The transaction is expected to close on December 17, 2025, subject to customary closing conditions, including approval of the Canadian Securities Exchange. The Company intends to make the required filings to list. The notes to be issued pursuant to the Offering on the CSE following the expiry of the four-month Canadian statutory hold period. Announcement • Dec 05
Headline: Trulieve Cannabis Corp Announces Conditional Approval for Texas Dispensing Organization License from Texas Department of Public Safety Trulieve Cannabis Corp. announced the Texas Department of Public Safety granted Trulieve TX Inc. conditional approval for a Dispensing Organization license under the Texas Compassionate Use Program. As a licensed Dispensing Organization, Trulieve will cultivate, manufacture, and distribute high quality medical cannabis products to Texas patients. The license is subject to final approval by the Texas Department of Public Safety. Announcement • Oct 15
Trulieve Cannabis Corp. to Report Q3, 2025 Results on Nov 05, 2025 Trulieve Cannabis Corp. announced that they will report Q3, 2025 results on Nov 05, 2025 Board Change • Aug 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Jane Morreau was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 23
Trulieve Cannabis Corp. Announces Expanded Distribution of Onward and Launch of THC-Infused Energy Drink Upward Trulieve Cannabis Corp. announced expanded distribution of premium Onward beverages and the launch of Upward, a premium THC-infused energy drink. Onward and Upward Farm Bill-compliant beverages are available online and at retail locations in Florida and Illinois. Onward and Upward beverages are available at all ABC Fine Wine & Spirits and Total Wine & More locations in Florida. The company recently entered into new distribution partnerships with Romano Beverage covering Illinois and Anheuser-Busch covering Northern Florida. With these new and expanded arrangements, Onward and Upward beverages can be found at hundreds of stores in Florida and Illinois. New premium Upward beverages come in a variety of delicious flavors including 5 milligram Lemonade, Peach Nectarine, and Strawberry Tea and 10 milligram Pink Lemonade. These low-calorie energy drinks are crafted in the USA using the harmonious balance of THC and CBD found in Onward, plus a boost of energy derived from green coffee beans and black tea leaves. Announcement • Jul 11
Trulieve Partners with Redemption Cannabis to Launch Purpose Led Products in West Virginia Trulieve Cannabis Corp. announced the launch of Redemption Cannabis products at Trulieve dispensaries in West Virginia. Redemption Cannabis, founded by industry advocate Ryan Basore, reinvests a portion of every sale to support individuals and families impacted by cannabis prohibition laws. Redemption's mission stems from Basore's commitment to justice after he served time in federal prison on cannabis-related charges. Redemption's flower will be available in Trulieve dispensaries throughout West Virginia starting July 11. Announcement • Jul 09
Trulieve Cannabis Corp. to Report Q2, 2025 Results on Aug 06, 2025 Trulieve Cannabis Corp. announced that they will report Q2, 2025 results on Aug 06, 2025 Announcement • Apr 10
Trulieve Cannabis Corp. to Report Q1, 2025 Results on May 07, 2025 Trulieve Cannabis Corp. announced that they will report Q1, 2025 results on May 07, 2025 Announcement • Mar 25
Trulieve Cannabis Corp., Annual General Meeting, Jun 12, 2025 Trulieve Cannabis Corp., Annual General Meeting, Jun 12, 2025. Announcement • Mar 08
Trulieve Cannabis Corp. Announces Chief Financial Officer Changes Trulieve Cannabis Corp. announced the appointment of Ryan Blust, the Company's Vice President, Finance, as its interim Chief Financial Officer and the departure of Wes Getman as Chief Financial Officer to pursue other opportunities, each effective March 6, 2025. The Company has also retained the services of an executive recruitment firm to commence a search for a new chief financial officer prepared to make strategic contributions to the Company. Mr. Blust age 48, has over 20 years of accounting and finance experience. Prior to joining the Company in September 2018, Mr. Blust served as the Controller at Vector Solutions. Mr. Blust also served as CFO for Honeycomb Company of America, and as Assistant Controller for Marinemax. He began his career in public accounting in 2004, serving with both Cherry Bekaert as well as Bobbitt, Pittinger & Company. Mr. Getman's departure is not based on any disagreement with the Company regarding accounting principles, practices or financial statement disclosures. Announcement • Feb 28
Trulieve Cannabis Corp. Appoints Jason Pernell as President Trulieve Cannabis Corp. announced the appointment of Jason Pernell as President, effective immediately. Mr. Pernell has over 20 years' experience as an entrepreneur and cannabis operator, co-founding Trulieve alongside Chairman and Chief Executive Officer Kim Rivers in 2015. Announcement • Feb 05
Trulieve Cannabis Corp. to Report Q4, 2024 Results on Feb 27, 2025 Trulieve Cannabis Corp. announced that they will report Q4, 2024 results on Feb 27, 2025 Announcement • Jan 25
Trulieve Cannabis Corp. Announces Relocation of Affiliated Dispensary to Lancaster, Pennsylvania Trulieve Cannabis Corp. announced the relocation of a Trulieve-affiliated medical marijuana dispensary to Lancaster, Pennsylvania. The new Lancaster location at 1603 Manheim Pike #1651 will host a grand opening celebration starting at 9 a.m. on January 31, with a ribbon cutting, partner giveaways, special discounts and more. Trulieve Lancaster will be open 9 a.m. - 8 p.m. Monday through Saturday and 10 a.m. - 6 p.m. on Sundays. Announcement • Oct 14
Trulieve Cannabis Corp. to Report Q3, 2024 Results on Nov 05, 2024 Trulieve Cannabis Corp. announced that they will report Q3, 2024 results on Nov 05, 2024 Announcement • Sep 05
Trulieve Opens Relocated Dispensary in Tucson, Arizona Trulieve Cannabis Corp. announced the relocation of a dispensary in Tucson, Arizona. The new Menlo Park location at 1010 S Freeway #130 will host a grand opening celebration starting at 8 a.m. September 13, with partner giveaways, DJs, special discounts and more. The new Trulieve Tucson Menlo Park will be open 7 a.m. – 10 p.m. seven days a week, carrying a wide variety of Trulieve in-house brands including Alchemy, Avenue, Co2lors, Loveli, Modern Flower, Muse, and Roll One, as well as a broad assortment of products from popular partner brands. Trulieve Arizona operates dispensaries in Apache Junction, Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Mesa, Peoria, Phoenix, Scottsdale, Sierra Vista, Tempe, and Tucson. Reported Earnings • Aug 07
Second quarter 2024 earnings released: US$0.056 loss per share (vs US$1.80 loss in 2Q 2023) Second quarter 2024 results: US$0.056 loss per share (improved from US$1.80 loss in 2Q 2023). Revenue: US$303.4m (up 7.7% from 2Q 2023). Net loss: US$10.7m (loss narrowed 97% from 2Q 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Jul 31
Trulieve Cannabis Corp. Launches #YesOn3 Product Line to Support Adult Use Campaign in Florida Trulieve Cannabis Corp. announced the launch of a new specialty product line supporting the ballot initiative to legalize adult cannabis use in Florida. The initial offerings will be available beginning Tuesday, July 30, with the first in a series of product releases and specials leading up to Election Day on Tuesday, November 5. Trulieve's proceeds from #YesOn3 specialty products may be used to support Amendment 3. All specialty products support Amendment 3 feature one of two new cannabis strains. The first strain, "Yo3" is a collaboration between Trulieve and Sunshine Cannabis. The second strain, named "Yon3" is a Trulieve-specific strain. #YesOn3 products will include pre-rolls, flower, gummies, and vape cartridges. Announcement • Jul 10
Trulieve Cannabis Corp. to Report Q2, 2024 Results on Aug 06, 2024 Trulieve Cannabis Corp. announced that they will report Q2, 2024 results on Aug 06, 2024 Board Change • Jun 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Jane Morreau was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jun 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Jane Morreau was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • May 15
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$419m Forecast net loss in 2 years: US$6.6m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$6.6m net loss in 2 years). Reported Earnings • May 10
First quarter 2024 earnings released: US$0.12 loss per share (vs US$0.17 loss in 1Q 2023) First quarter 2024 results: US$0.12 loss per share (improved from US$0.17 loss in 1Q 2023). Revenue: US$297.6m (up 4.3% from 1Q 2023). Net loss: US$21.7m (loss narrowed 34% from 1Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Apr 06
Trulieve Cannabis Corp. to Report Q1, 2024 Results on May 09, 2024 Trulieve Cannabis Corp. announced that they will report Q1, 2024 results Pre-Market on May 09, 2024 Announcement • Mar 30
Trulieve Cannabis Corp., Annual General Meeting, Jun 12, 2024 Trulieve Cannabis Corp., Annual General Meeting, Jun 12, 2024. New Risk • Mar 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$61m net loss in 2 years). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Reported Earnings • Mar 01
Full year 2023 earnings released: US$2.27 loss per share (vs US$1.06 loss in FY 2022) Full year 2023 results: US$2.27 loss per share (further deteriorated from US$1.06 loss in FY 2022). Revenue: US$1.13b (down 8.9% from FY 2022). Net loss: US$429.6m (loss widened 116% from FY 2022). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Feb 06
Trulieve Cannabis Corp. to Report Q4, 2023 Results on Feb 29, 2024 Trulieve Cannabis Corp. announced that they will report Q4, 2023 results on Feb 29, 2024 Announcement • Jan 12
Trulieve Announces Appointment of Marie Zhang as Chief Operating Officer, Effective January 29, 2024 Trulieve Cannabis Corp. announced the appointment of Marie Zhang as Chief Operating Officer, effective January 29, 2024. Ms. Zhang has over 25 years' experience in operational roles for private and public companies including Blaze Pizza, Focus Brands, Yum! Brands, and ConAgra Foods. Announcement • Dec 23
Trulieve Cannabis Corp. Announces Chief Financial Officer Changes Trulieve Cannabis Corp. announced the appointment of Wes Getman as Chief Financial Officer, effective January 1, 2024. Mr. Getman has over 25 years' experience in accounting and finance in both corporate and advisory roles for private and public companies including Blue Bird Corporation, Grant Thornton, and PricewaterhouseCoopers. Ryan Blust was serving as Interim Chief Financial Officer. Mr. Blust will resume his duties as Vice President, Finance, once Wes Getman assumes the CFO role. Prior to joining the Company, Mr. Getman served as Partner, Advisory at WilliamsMarston, LLC. Mr. Getman previously served as the Vice President of Accounting & Finance at Blue Bird Corporation, a billion dollar North American manufacturer, from 2015-2020. In addition, Mr. Getman spent 16 years in public accounting at PwC, RSM, and Grant Thornton where he was a partner at the last two firms. Mr. Getman received his Bachelor of Science in Management from the State University of New York at Geneseo and his MBA from the Simon School at the University of Rochester. Announcement • Oct 21
Trulieve Cannabis Corp. to Report Q3, 2023 Results on Nov 09, 2023 Trulieve Cannabis Corp. announced that they will report Q3, 2023 results on Nov 09, 2023 Announcement • Oct 14
Trulieve Cannabis Corp. Announces Relocation of Medical Cannabis Dispensary in Melbourne, Florida Trulieve Cannabis Corp. announced the relocation of a medical cannabis dispensary in Melbourne, Florida. The new location at 1921 Alma Drive, less than one mile from Interstate 95, offers greater convenience to patients in southern Brevard County. Trulieve will host a grand opening celebration at the new location beginning at 9 a.m., Friday, October 20, with partner giveaways, music, specials, discounts, and opportunities to register for upcoming patient education sessions. The new Melbourne location will be open 9 a.m. - 8:30 p.m. Monday through Saturday and 11 a.m. - 8 p.m. on Sundays. Trulieve offers statewide home delivery, convenient online ordering, and in-store pickup. Veterans receive 20% off every order when they show their military ID, and all first-time guests are eligible for a 60% new customer discount at any Florida Trulieve location. Designed to meet every customer's needs, Trulieve's portfolio of popular in-house brands includes Alchemy, Co2lors, Cultivar Collection, Modern Flower, Momenta, Muse, Roll One, Sweet Talk and Trekkers. Customers also have access to beloved partner brands such as Alien Labs, Binske, Black Tuna, Blue River, Connected Cannabis, DeLisioso, Khalifa Kush, Love's Oven, Miami Mango, O.pen, Seed Junky and Sunshine Cannabis, all available exclusively at Trulieve in Florida. Announcement • Oct 05
Trulieve Cannabis Corp. Announces Stepping Down of Steve White as President Trulieve Cannabis Corp. announced Steve White is stepping down as the company's president, effective as of October 1, 2023. Mr. White will continue to serve as a strategic advisor to the company until his anticipated retirement at the end of 2023. Mr. White co-founded Harvest Health & Recreation (Harvest) in 2011 and served as its Chief Executive Officer until the acquisition of the company by Trulieve. As an early pioneer in the U.S. legal cannabis industry, Mr. White led Harvest as it grew from a single dispensary to become one of the top multi-state operators with cultivation, manufacturing, and retail operations in several markets. Following the Harvest acquisition, Mr. White was appointed President of the company. Announcement • Aug 01
Trulieve Cannabis Corp. Announces the Relocation of Medical Dispensary in Kissimmee, Florida Trulieve Cannabis Corp. announced the relocation of a medical dispensary in Kissimmee, Fla. Located at 2647 E. Irlo Bronson Memorial Hwy. Thedispensary will be open 9 AM - 8:30 PM Monday through Saturday and 11 AM - 8 PM on Sunday. Trulieve also offers statewide home delivery, convenient online ordering and in-store pickup. As always, all first- time guests are eligible for a 50% new customer discount at any Florida-based location. Designed to meet every patient's needs, portfolio of in-house brands includes Alchemy, Co2lors, Cultivar Collection, Modern Flower, Momenta, Muse, Roll One, Sweet Talk and Trekkers. Customers also have access to beloved brands such as Alien Labs, Bhang, Binske, Black Tuna, Blue River, ConnectedCannabis, DeLisioso, Khalifa Kush, Love's Oven, Miami Mango, Old Hippie Stash, O.Pen, Seed Junky and Sunshine Cannabis, all available exclusively at Trulieve in Florida. Announcement • Jul 23
Trulieve Cannabis Corp. Announces CFO Changes Trulieve Cannabis Corp. announced the appointment of Ryan Blust, the Company's Vice President, Finance, as its interim Chief Financial Officer and the departure of Tim Mullany as Chief Financial Officer for personal reasons, each effective July 20, 2023. The Company has also retained the services of an executive recruitment firm to commence a search for a new chief financial officer. Mr. Blust has over 18 years of accounting and finance experience. He joined Trulieve in September 2018, and has previously served as interim CFO for the Company. Prior to joining the Company, Mr. Blust served as the Controller at Vector Solutions, a software company. Mr. Blust also served as CFO for Honeycomb Company of America, an aerospace manufacturer, and as Assistant Controller for Marinemax, a retail boat company. He began his career in public accounting in 2004, serving with both Cherry Bekaert as well as Bobbitt, Pittinger & Company. Announcement • Jul 14
Trulieve Cannabis Corp. to Report Q2, 2023 Results on Aug 09, 2023 Trulieve Cannabis Corp. announced that they will report Q2, 2023 results on Aug 09, 2023 Announcement • Jun 20
Trulieve Cannabis Corp. Announces Appointment of Tim Mullany as Chief Financial Officer Trulieve Cannabis Corp. announced the appointment of Tim Mullany as Chief Financial Officer, effective July 10, 2023. Mr. Mullany has over 20 years' experience in accounting and finance including prior Chief Financial Officer roles at publicly traded companies Jack in the Box Inc. and RAVE Restaurant Group. The Company has accepted the resignation with immediate effect of Alex D'Amico, the Company's Chief Financial Officer, and has appointed Ryan Blust, the Company's Vice President, Finance, as its interim Chief Financial Officer, effective immediately, to serve until Tim Mullany assumes the role. Mr. Blust has over 18 years accounting and finance experience. He joined Trulieve in September 2018, and has previously served as interim CFO for the Company. Prior to joining the Company, Mr. Blust served as the Controller at Vector Solutions, a software company. Mr. Blust also served as CFO for Honeycomb Company of America, an aerospace manufacturer, and as Assistant Controller for Marinemax, a retail boat company. He began his career in public accounting in 2004, serving with both Cherry Bekaert as well as Bobbitt, Pittinger & Company. Announcement • Jun 02
Trulieve Continues Optimization Efforts with Closure of California Retail Location and Plan to Wind Down Massachusetts Operations Trulieve Cannabis Corp. announced additional measures to preserve cash and improve financial performance. Since mid-2022, Trulieve has undertaken proactive steps to rationalize cash and margin dilutive assets and streamline operations while reallocating resources toward attractive markets with long-term growth potential. Measures taken to date include the closure of select California retail assets, exit of the Nevada wholesale market and idling of production capacity to match consumer demand across multiple markets. Consistent with optimization efforts, Trulieve has elected to close the retail location in Grover Beach, California. This closure follows the exit of select California retail assets last year in Palm Springs and Venice. In addition, the Company has decided to wind down its operations in Massachusetts. Dispensaries located in Framingham, Northampton and Worcester will close on June 30, 2023. The Company expects to cease Massachusetts operations by the end of 2023. Trulieve continues to evaluate the performance of assets and markets within the current macroeconomic environment and will take additional steps as needed to optimize the business. The Company is focused on cash preservation and cash generation while continuing to make targeted investments in retail expansion as well as advanced data and technology platforms to set the foundation for a future defined by integrated commerce. Reported Earnings • May 10
First quarter 2023 earnings released: US$0.34 loss per share (vs US$0.17 loss in 1Q 2022) First quarter 2023 results: US$0.34 loss per share (further deteriorated from US$0.17 loss in 1Q 2022). Revenue: US$289.1m (down 9.2% from 1Q 2022). Net loss: US$64.2m (loss widened 101% from 1Q 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Pharmaceuticals industry in Germany. Announcement • May 04
Joy Malivuk Appoints as the Vice President, Chief Accounting Officer of Trulieve Cannabis Corp On April 26, 2023, Joy Malivuk, age 48, was appointed as the Vice President, Chief Accounting Officer of Trulieve Cannabis Corp. Ms. Malivuk has nearly 24 years of accounting and finance experience. Prior to joining the Company, from 2008 to 2023, Ms. Malivuk held roles of increasing responsibility, including most recently as Director of Accounting at HSN Inc., a subsidiary of QVC Inc., where she oversaw the accounting function and was responsible for financial reporting, general accounting and SOX compliance. Previously, she served as HSN’s Operational Vice President of Financial Reporting and SEC Compliance. Her career began at PricewaterhouseCoopers, LLP. Ms. Malivuk graduated from the University of Florida with both a Bachelor of Science in Accounting and a Master of Accounting with a Specialty in Taxation. Reported Earnings • Mar 10
Full year 2022 earnings released: US$1.06 loss per share (vs US$0.14 profit in FY 2021) Full year 2022 results: US$1.06 loss per share (down from US$0.14 profit in FY 2021). Revenue: US$1.24b (up 32% from FY 2021). Net loss: US$198.5m (down US$218.5m from profit in FY 2021). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Feb 18
Trulieve Cannabis Corp. Announces to Begin Adult-Use Cannabis Sales At Relocated Bristol, CT Dispensary Trulieve Cannabis Corp. announced its dispensary in Bristol, Connecticut will begin selling adult-use cannabis products on February 17 at 10 a.m. Recently relocated to 820 Farmington Ave., the Company's hybrid (medical and adult-use) dispensary will have operating hours of 9 a.m. - 8 p.m, with the first hour of each day reserved for medical-only sales. The adult-use launch ribbon-cutting event will be held on February 17 at 10 a.m. The spacious new showroom and ample parking at the new location enhance the overall customer experience. Announcement • Jan 21
Trulieve Cannabis Corp. Launches Highsman Cannabis Products from NFL Legend Ricky Williams in Arizona Trulieve Cannabis Corp. announced the official launch of Highsman, the purpose-driven cannabis lifestyle brand founded by NFL legend Ricky Williams. Highsman will be available statewide in all Trulieve and Harvest branded Arizona retail locations starting January 20, 2023. Highsman will be exclusively available at Trulieve and Harvest branded Arizona retail locations until February 4, 2023. Highsman has partnered with Abundant Organics to bring premium organically grown cannabis to Trulieve and Harvest's Arizona locations. Personally curated by Williams, the product selection includes eighths and pre-rolls. Announcement • Jan 14
Trulieve Cannabis Corp. Announces Resignation of Rebecca L. Young as Chief Accounting Officer Trulieve Cannabis Corp. announced, Rebecca L. Young, Vice President, Chief Accounting Officer of the Company, gave notice of her resignation to be effective as of March 10, 2023 in order to pursue other opportunities. Ms. Young will continue to serve in her role as Vice President, Chief Accounting Officer of the Company through March 10, 2023 in order to allow time to transition her responsibilities to Ms. Malivuk. Reported Earnings • Aug 11
Second quarter 2022 earnings released: US$0.12 loss per share (vs US$0.33 profit in 2Q 2021) Second quarter 2022 results: US$0.12 loss per share (down from US$0.33 profit in 2Q 2021). Revenue: US$320.3m (up 49% from 2Q 2021). Net loss: US$22.5m (down 155% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 18%, compared to a 6.2% growth forecast for the industry in Germany. Recent Insider Transactions • May 27
Founder recently bought €189k worth of stock On the 24th of May, Kimberly Rivers bought around 14k shares on-market at roughly €13.47 per share. This was the largest purchase by an insider in the last 3 months. Kimberly has been a buyer over the last 12 months, purchasing a net total of €272k worth in shares. Reported Earnings • May 13
First quarter 2022 earnings released: US$0.17 loss per share (vs US$0.25 profit in 1Q 2021) First quarter 2022 results: US$0.17 loss per share (down from US$0.25 profit in 1Q 2021). Revenue: US$318.3m (up 64% from 1Q 2021). Net loss: US$32.0m (down 206% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 33%, compared to a 6.4% growth forecast for the industry in Germany. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jane Morreau was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2021 earnings released Full year 2021 results: Revenue: US$938.4m (up 80% from FY 2020). Net income: US$17.5m (down 72% from FY 2020). Profit margin: 1.9% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 44%, compared to a 8.2% growth forecast for the pharmaceuticals industry in Germany. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 23% share price gain to €18.50, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Pharmaceuticals industry in Europe. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 30% share price gain to €23.80, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 21x in the Pharmaceuticals industry in Europe. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €17.00, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 18x in the Pharmaceuticals industry in Europe. Board Change • Jan 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jane Morreau was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 11
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jane Morreau was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 
