Planet 13 closes cultivation facility, sells dispensary

Mr. Robert Groesbeck reports PLANET 13 STREAMLINES FOOTPRINT TO FOCUS ON CORE GROWTH MARKETS Planet 13 Holdings Inc. has divested its non-core Orange County, California, retail store and has closed its cultivation facility in Coalinga, Calif. These actions mark another step in Planet 13's strategy to focus resources on its highest performing markets and to position the company for long-term growth and profitability. Planet 13 will continue to invest in expanding its presence in Nevada and Florida while pursuing disciplined opportunities that enhance shareholder value. "This reflects our continued commitment to disciplined capital allocation and operational efficiency," said Bob Groesbeck, co-chief executive officer of Planet 13. "By concentrating our efforts on our strongest markets, we're building a more focused, efficient and resilient company that's well positioned for future expansion." The company's California operations, which represented a small portion of the company's overall revenue, were cash-flow negative and no longer aligned with Planet 13's long-term objectives. Proceeds from the transaction, while not material, will help further strengthen the company's balance sheet, liquidity and enable investment in core markets. "We're grateful to our dedicated California team members for their contributions and professionalism during this transition," added Larry Scheffler, co-CEO of Planet 13. The sale of the Orange County retail license is subject to customary closing conditions and regulatory approvals. The company expects the transaction to close within approximately three to four months. The Coalinga facility is expected to wind down operations by the end of 2025. About Planet 13 Holdings Inc. Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois and Florida. Home to the nation's largest dispensary, located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint with the recent debut of its first consumption lounge in Las Vegas, DAZED!, the opening of its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area. Planet 13 operates 33 dispensaries across Florida, a key market in its expansive footprint, bringing its total to 37 locations nationwide. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under United States federal law. Planet 13's shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH. We seek Safe Harbor.