Curaleaf Reports Record Third Quarter 2020 Financial and Operational Results

Record Third Quarter Pro Forma Revenue(1)(2)of $215.3 Million

Record Third Quarter Managed Revenue(1)of $193.2 Million, up 164% and in Line with Company Guidance

Record Year-to-Date Managed Revenue(1) of $419.6 Million

Record Third Quarter Adjusted EBITDA(1) of $42.3 Million as Operations Across 23 States Continue to Scale

WAKEFIELD, Mass., Nov. 17, 2020 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading U.S. provider of consumer products in cannabis, today reported its financial and operating results for the third quarter ended September 30, 2020. All financial information is provided in U.S. dollars unless otherwise indicated.

Q3 2020 Financial Highlights (Unaudited)

($ thousands, except per share amounts)

Q3 2020

Q2 2020

% qoq
Change

Q3 2019

% yoy
Change

Managed Revenue(1)

$193,220

$121,402

59%

$73,192

164%

Total Revenue

$182,408

$117,480

55%

$61,820

195%

Gross profit before impact of biological assets

$91,775

$60,636

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