THE STATE OF U.S. AND CANADA COMBINED LEGAL CANNABIS MARKETS 2016-2025 Legal cannabis is expected to drive significant revenue in North America. By 2025, the combined U.S. and Canadian cannabis markets will generate more than $30 billion in sales. $32.4 $30.3 35 30 25 20 15 10 5 $28.2 U.S. Canada $19.3 $15.8 $11.6 $8.7 $7.0 $22.5 $25.8 2016 2017 2018 2019 2020 2021 2022 2023 2024 29.9 MILLION lbs 25 20 15 10 5 U.S. Legal Sales Concentrates Sales Vape Sales 2014 $3.4 $0.4 $0.1 2015 $4.7 $0.7 $0.2 2016 $6.5 $1.3 $0.5 12 2020 GUIDE TO CANNABIS PRODUCTION 2017 $8.5 $2.0 $1.1 2018 $11.0 $2.9 $1.7 2019 $14.4 $4.1 $2.6 2020 $17.8 $5.6 $3.9 2021 $20.9 $7.1 $5.2 2025 estimated U.S. cultivation total (illicit and legal) U.S. LEGAL CANNABIS, CONCENTRATES & VAPE SALES 2014-2022 (IN BILLIONS) Cannabis concentrates have emerged as the fastest-growing of the three major segments of the legal cannabis market (flower, concentrates and edibles). 2022 $23.4 $8.4 $6.5 Dollars (Billions) Dollars (Billions) Source: BDS Analytics' GreenEdge Source: New Frontier Data Source: New Frontier Data