iAnthus FY2023 revenue $159.2M, down 2.4%; net loss narrows to $76.6M

Fourth Quarter 2023 Financial Highlights • Revenue of $40.9 million, a sequential decrease of 4.7% from Q3 2023 and an increase of 8.8% from the same quarter in the prior year. • Gross profit of $15.9 million, a sequential increase of 19.3% from Q3 2023 and a decrease of 1.1% from the same quarter in the prior year. • Gross margin of 38.9%, reflecting a sequential increase of 782bps when compared to Q3 2023 and a decrease of 389bps from the same quarter in the prior year. • Net loss of $18.7 million, or a net loss of less than $0.01 per share, compared to a net loss of $19.2 million, or a net loss of less than $0.01 per share in Q3 2023, and compared to a net loss of $43.7 million, or a net loss of $0.01 per share, in the same quarter in the prior year.

2023 Financial Highlights • Revenue of $159.2 million, down 2.4% from the prior year. • Gross profit of $63.2 million, down 15.1% from the prior year. • Gross margin of 39.7%, reflecting a decrease of 5.9% from the prior year. • Net loss of $76.6 million, or a net loss of $0.01 per share, compared to a net loss of $449.4 million, or a net loss of $0.13 per share, in the prior year.